Leading Analyst Firm Forecasts Worldwide Market for Used Smartphones to Reach 351.6 Million Units with a Market Value of $65 Billion in 2024
FLORHAM PARK, N.J., April 27, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire)
TessaB Corp., a technology company developing a blockchain platform to solve market inefficiencies in the used mobile phone industry, unveiled interesting findings following a webinar earlier this month. The webinar titled – “The Future of the Mobile Phone Supply-Chain Market: A Real-Life Consumer Application for Blockchain” included research firm IDC, NEAR Protocol and was moderated by Yahoo Finance Editor Javier David. The discussion, sponsored by CommPro, highlighted new growth and consumer trends in the used phone market and how TessaB’s Glyde Marketplace is changing the way phones are bought and sold using blockchain and AI.
As we have become ever more dependent on mobile phones, and blockchain continues to grow, the purpose of this webinar was to inform participants of a real-life consumer use case for blockchain that is solving inefficiencies within the telecom and mobile phone space. The discussion focused on how consumer marketplaces can be created leveraging blockchain, smart contracts, and AI. Furthermore, following the global pandemic, the discussion highlighted the impact on the supply-chain and the growing importance of sustainability, where blockchain can make a big difference.
Some quotes and discussion points from the webinar are outlined below.
“Our view is that the mobile phone supply-chain market needs to be made more efficient and middlemen should be replaced by technology with data management tools on one underlying platform such as the blockchain. There is no better technology that will allow us to bring transparency and disintermediate an over $60 billion dollar marketplace for the benefit of the consumer and that is what TesssaB is focused on achieving within the second-hand mobile industry,” said Flavio Mansi, CEO of TessaB.
“Everyone is talking about blockchain and thinking about it as cryptocurrency and bitcoin, but what we’re doing with TessaB and the Glyde Marketplace is a very tangible application of the usage of blockchain and smart contracts,” commented, Andrew Weisselberg, Head of Customer Experience, Glyde Marketplace.
“Although the COVID-19 pandemic has posed challenges for secondary market participants around able-bodied workers and logistics, most of the industry has been able to satisfy demand for refurbished smartphones. Once the pandemic begins to fade, those that were able to invest in technology will be well-poised to prosper during the recovery. The global market for used phones is huge, is now forecast to be worth $65 billion by 2024,” said, William Stofega, Program Director, Mobile Device Technology and Trends at IDC.
“NEAR was developed from the ground-up to support consumer-facing use-cases with scalability and usability in mind for practical consumer needs. The experience allows it to scale for the consumer and that’s where a marketplace like Glyde comes in, which was built leveraging NEAR. The technology fades into the background allowing easy applications to perform for customers interacting within this ecosystem providing buyers and sellers a higher level of transparency and security, thereby cutting out the many industry middlemen to keep prices down,” said Erik Trautman, CEO of NEAR Foundation.”
About the Moderator: Javier David serves as an editor for Yahoo Finance focusing on financial markets and the global economy. He works closely with reporters on breaking news coverage, analysis and commentary, and exclusive features. As a member of Yahoo Finance’s leadership team, he also helps to plot strategy, assess new opportunities, and drive growth. Javier got his start in journalism reporting on foreign exchange and macroeconomics, capital markets and corporate governance at Reuters, as well as global policymakers. Javier holds a Bachelor of Arts in economics and politics from Long Island University, and a Master of Public Administration from Columbia University.
About TessaB: TessaB Corp. is a technology company focused on reinventing the secondary market for mobile phones and devices. Leveraging blockchain, AI and machine learning, TessaB is building a technology platform designed to solve inefficiency and trust issues that plague the mobile phone industry, enabling consumers to buy and sell with an unprecedented level of trust, security, and efficiency. TessaB operates the Glyde Marketplace, an innovative peer-to-peer platform for buying and selling used devices that is commercializing the TessaB technology platform.For more information visit, www.tessab.com or follow us on social media: LinkedIn, Facebook, Twitter and Instagram.
About the NEAR Protocol: NEAR’s mission is to enable community-driven innovation to benefit people around the world. NEAR’s platform provides decentralized storage and compute that is secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people, putting the power of the Open Web in their hands. Technically speaking, NEAR Protocol is a new public, proof-of-stake blockchain which is built using a novel consensus mechanism called Doomslug. NEAR Protocol uses a technique called “sharding” which splits the network into multiple pieces so that the computation is done in parallel. Parallelism radically increases throughput and allows the network to scale up as the number of nodes on it increases. With NEAR, there isn’t a theoretical limit on the network’s capacity. NEAR core contributors have won multiple world championships in competitive programming and worked at major tech companies such as Google, Facebook and Niantic. To learn more about the NEAR Protocol, please visit near.org, and for the press kit visit near.org/press.