It seems telecom companies are taking cues from the burgeoning crypto sector and gearing up to offer blockchain incentives to customers. For instance, Singapore’s newest telco, Gorilla Mobile that comes with a Switchback feature to convert unused customer data into blockchain tokens.

Gorilla Mobile Will Pay Blockchain Tokens For Unused Data

Targeted towards professionals, managers, executives, and technicians(PMETs), Gorilla Mobile will convert a customer’s unused data into Gorilla Go tokens on its app. Xanne Leo, the telco’s founder, and CEO indicated that his company had come up with the plan after considering the impact of the pandemic-induced lockdown on people’s lives. He said “A lot of PMETs are now working from home and are mostly wired or connected by Wi-Fi. So usage on mobile data has dropped a lot because nobody is going out.”

Customers can exchange their collected tokens on Gorilla Mobile’s app for services like “international direct dialing calls or travel roaming data” and they can also share them with their friends and family.

The Switchback feature was originally designed for travelers, as Gorilla Mobile was a travel SIM card provider operating in 61 countries. Travelers don’t always use all their data on a journey due to various reasons and that is why the company thought it was an ideal niche for offering a blockchain-powered service. However, the pandemic forced Gorilla Mobile to redesign its strategy and accelerate the launch of its domestic service. 

Gorilla Mobile Is Looking Into Expanding In Southeast Asia

So far, the telecom company has amassed $3 million in seed capital and plans to raise another  $5 million in Series A funding. While it’s working to solidify its network in Singapore, Gorilla Mobile is also eyeing an expansion in Malaysia, Thailand, and Vietnam. The company also intends to launch its operations in the Philippines, Japan, South Korea, and Taiwan in the long term. 

Explaining the company’s upcoming targets, Leo remarked, “In the first year, we are looking at probably 1% to 2% of the market share. I would say that is a good percentage to start with.”

Currently, the company is operating with its 15-member team in Singapore and three employees in Thailand. But as it moves ahead with expansion, the telco plans to hire 50-100 employees to boost its workforce across Southeast Asia.