US telecom giant AT&T made a big announcement yesterday that the users can now pay the phone bills via cryptocurrencies. The digital currency payments will be fulfilled via US-based cryptocurrency service provider, Bitpay. AT&T integrated the wallet provider as the payment gateway where users will be able to perform cryptocurrency bill payment in a wide array of cryptocurrencies via AT&T website or Bitpay’s wallet app.
Bitpay, which is currently used by more than 20,000 corporations has become the country’s first mobile carrier to accept cryptocurrency payments. Kevin McDorman, AT&T Vice President of Communications Finance Business Operations commented on Bitpay’s cryptocurrency bill payment initiative:
We’re always looking for ways to improve and expand our services. We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.
Earlier, some of the AT&T users claimed the issue of SIM-jacking where they lost their cryptocurrency funds. This happened when the fraudulent callers tricked the customer service executives for the reassignment of the SIM number that belonged to the customers to hold the funds. Cryptocurrency security model has been notorious due to SIM-jacking in the cases with 2-factor authentication. Earlier, the telecom giant was sued with a heavy lawsuit of $75 million that involved the loss of cryptocurrency funds due to SIM-jacking.
The telecom company is among the major blockchain-based firms to have filed for patents. AT&T’s blockchain trademark is basically focused on user interactions through mapping social media by creating immutable record of social media activities for the purpose of advertising. Also, patent home subscriber server, a master database powered by Bitcoin was awarded to AT&T back in 2017.
Moreover, the firm has also partnership with IBM in various blockchain suites. During 2018-end, the telecom giant joined hands with IBM’s blockchain solution and Microsoft Azure in order to establish a transparent and accountable supply chains. The main focus of the initiative is towards the institutional customers in the areas of retail, manufacturing and healthcare.
As published by the U.S. Patent and Trademark Office (USPTO) in last December, a patent for social media history map was filed in order to facilitate the collection of transaction data of its subscriber’s social media. The application states:
The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.