The Mysterious DentCoin (DENT)
What is DentCoin & what is it used for?
First of all let me mention that DentCoin is on the “Scam Alert” list and if that turns you away from investing, anybody with ANY common sense isn’t going to hold that against you. Who exactly put them on this list…? That’s another story. However, if you’re willing to brave the waters of DentCoin, well, you’re not alone. In fact, yours truly has invested in DentCoin and I’m keeping a watchful eye on this possible scandalous digital asset. [fingers crossed] Anyway, what is DentCoin and what it is used for is a common question. If anything at all, it is thee question of all questions.
The creators of DentCoin say their goal is to create an open marketplace to sell and buy mobile data. If you’re not familiar with what mobile data is think of a WiFi router.
When using a WiFi router you’ll be able to access the Internet as long as you’re within its range. If you travel outside its range, you’ll lose your connection. Makes sense…right? Now, when you travel outside its range that’s when your mobile data kicks in. Got it?
This, however, can be rather expensive especially in the United States. An average cellphone plan with just 500MB of data costs around $85 within the US, whereas in China it’s around $24 and around $9 in the United Kingdom. Now this doesn’t include the outrageous fees Internet users could face if they use more data than what their plan calls for. In short, mobile data is expensive and DentCoin is looking to ease the pain.
The creators of DentCoin know that this won’t be an easy task. Mobile carrier’s such as Verizon, AT&T and T-Mobile make a killing and DentCoin wants to liberate mobile data and create a data sharing economy. If you’re part of this ecosystem you’ll be able to freely buy, sell, and donate mobile data.
** For example, someone in the UK could sell cheap excess data to someone in the US **
Users within the European Union, international roaming is actually not a problem for
Europeans, but it’s still a “pain-in-the-ass” for everyone else, and this includes Europeans who travel outside Europe.
This isn’t just for cellphones and tablets. This includes all IoT (Internet of Things) devices, including vehicles, home appliances, and other common items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data.
DentCoin is looking to make life a little easier on a global scale, unfortunately though there are people claiming that they may have taken a bite too BIG to chew.
We’ll see. [fingers crossed]