MIAMI, Dec. 22, 2017 (GLOBE NEWSWIRE) — via OTC PR Wire — Miami-based United American Corp (UnitedCorp), (UAMA) and TNW announced today the creation of BlockNum, the universal Telephone Number Blockchain Transactional Public Switched SIP-based Telephone Network and which is currently patent pending.
BlockNum will be a distributed and decentralized ledger technology and is the first blockchain to be based on SIP-Protocol (Session Initiated Protocol), which is used by the vast majority of telecommunications companies around the world. This will allow BlockNum to execute blockchain transactions between any two telephone numbers regardless of their location making it instantly scalable. For cryptocurrencies, this means that transactions can occur simply and without the need for “cryptocurrency wallets”, allowing anyone with a phone number to do a transaction.
BlockNum uses new SIP protocol headers (Blockchain-SIP or B-SIP) to embed key information for a blockchain transaction and this information is updated in real time as the transaction proceeds through the blockchain which will consist of a sophisticated network of decentralized independent network elements or “Nodes”. Transaction verification and overall integrity is achieved through Proof-of-Consensus (“PoC”) which is based on the well-established concept of “Consensus Theorem”. PoC will allow BlockNum to execute blockchain transactions significantly faster and without the heavy computational and energy requirements of many traditional blockchains which can consume significant amounts of electricity per transaction. This makes BlockNum the first truly green blockchain.
The BlockNum Whitepaper is available at: https://blocknum.com/wp-content/uploads/2017/12/BN_White-paper.pdf
Initially, BlockNum transactions will be facilitated exclusively through a transport token known as the GIGA. Through the GIGA, BlockNum will permit real-time and seamless conversion of fiat and/or cryptocurrencies between transacting parties. BlockNum will eventually be available for use with other blockchain applications such as supply chain management, chain of ownership and fraud prevention. UnitedCorp also expects to develop ancillary applications such as the use of the token for payment of login based wireless LTE such as iPCS, prepaid cryptocurrency transaction cards and “UBERBanko”, a global system for deposit and withdrawals in local fiat currency.
In addition to the inherent security of the blockchain environment, BlockNum will have several security enhancements including PSTN transaction verification with PIN as well as the ability for either party to limit transactions to specific geolocations.
BlockNum will create a central registry of phone numbers where all telecom operators will be able to register their respective phone numbers via SIP or SS7/SIGTran for ease of access to BlockNum. TNW will manage the North American phone number registry through BlockNum.org which will also provide real time blockchain transactions between ILEC, CLEC and telecom operator’s user’s phone numbers.
UnitedCorp and TNW have significant experience in network infrastructure and SIP-based protocol development. BlockNum Beta version is expected to be released at the end of March 2018 and the production release “Boolean” by the end of June 2018.
About United American Corp and TNW
Established in 1992, United American Corp is a Florida-based development and management company focusing on telecommunications technologies. The company currently holds the rights to manage a portfolio of patent and proprietary technology in telecommunications, social media and more recently in Blockchain PSTN technology. For more information, visit: www.unitedcorp.com
TNW is a provider of telecommunications and cloud services. It has long history including a number of telecommunication corporate consolidations. TNW Wireless Inc. is a Canadian licensed wireless operator. It currently holds 25MHz bandwidth tier-2 850 MHz spectrum licenses and is a registered wireless carrier. It provides global communication services through its proprietary iPCS Smartphone-over-IP cloud spectrum technology. For more information, visit: www.tnwcorp.com
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company’s actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company’s control. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management’s expectations or opinions change.
United American Corp
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