The Sphere's unique combination of patented blockchain technology, globally distributed network architecture and an intelligent fraud management system facilitates unlimited, multi-party chain trading, routing and financial settlements in real time. The launch of this disruptive, blockchain-powered global ecosystem comes after two years of strategic development and engineering backed by more than $6 million in capital investment.
With expert vision and steady strategy, the Sphere's team of telecom industry veterans created this singular ecosystem from the ground up to solve real challenges in the market, such as declining margins, fraud and inefficiencies. The Sphere's live exchange platform, which serves as the core of the ecosystem, allows organizations to instantly offer, purchase and resell services in a financially secure yet dynamic environment. The live exchange is a neutral commercial and network meeting point, optimizing technical and financial efforts throughout the trade chain.
"The telecom industry is at a crossroads," said Yariv Trabelsi, CTO of the Sphere. "It needs to evolve in order to stay relevant and turn a profit. Typical margins in the middle market used to run between 10 and 12 percent; now, they're closer to three percent or less. Meanwhile, the retail side is struggling to handle the increasing amount and severity of fraud. As concerned telecom industry veterans, we decided to solve for these challenges by creating the Sphere, which is a seismic development for the market — and this is just the beginning."