IGWT Block FAQ’s
1) What is IGWT Block and TessaB?
IGWT Block Corp (IGWT) is a technology holding company focused on solving the inefficiency and trust issues that plague the secondary market for mobile devices and services. We are building a blockchain technology platform called TessaB that will create an ecosystem of mobile device buyers, sellers and vendors, where every transaction is transparent and every price is fair.
2) What is the corporate vision?
Our vision is to have an open technology platform for equipment manufacturers (OEMs), carriers, retailers and eCommerce platforms that brings efficiency and transparency to the fragmented secondary market for mobile devices and services.
By combining industry leading mobile device diagnostic technology with a public blockchain we will:
- Build consumer confidence to purchase pre-owned mobile devices by creating a trusted public record of device histories.
- Reduce the cost of pre-owned mobile devices by eliminating middlemen who don’t add value, yet increase the cost to the final buyer by up to 50%.
- Maximize the useful life of mobile devices to create a more sustainable industry.
3) What services does IGWT offer?
IGWT is rolling out products and services that address issues in the $50 billion+ secondary global market for mobile devices including, new and pre-owned mobile phone device sales, trade-ins, buyback programs, and device protection plans. We serve consumers currently using our TessaB platform through our e-Commerce site, Glyde.com. We plan to serve other industry participants via the TessaB platform.
4) What are IGWT’s core products?
The first commercial offering using TessaB is Glyde – a consumer marketplace to buy and sell new and pre-owned mobile devices. Our e-Commerce site, Glyde.com was established to prove out our vision by commercializing all of TessaB’s product offerings including:
- TessaB Fulfill: Smart contracts that govern ecosystem transactions including device trade-ins, purchases, buyback programs, and protection plans using advanced mobile device diagnostics technology.
- TessaB History: A comprehensive blockchain registry of the diganotics history of all devices within the TessaB ecosystem.
- TessaB Protect: Blockchain-enabled accidental device protection coverage for new and pre-owned mobile phones. The first to offer accidental damage protection plans on phones consumers already own.
- TSB Digital Assets (TSB): TSBs will provide ecosystem partners user-friendly digital assets that will be earned when participants add value to the ecosystem running device diagnostics and conducting transactions.
- TessaB Connect (TessaB Mobile App): Mobile app platform that is the gateway for consumers to run mobile diagnostics to conduct transactions, register warranties, access technical support, and their digital wallet to send and receive digital assets. Vendor dashboard enables ecosystem partners to access customer data and power a differentiated customer experience.
All of our products and services are designed to 1) address the lack of trust between buyers and sellers of pre-owned mobile devices due to lack of understanding of quality and provenance, and 2) minimizing the number of middlemen that increase the price of pre-owned phones to the final buyer by up to 50%.
5) What problems are you solving?
- Cost: There are simply too many touch points as the average pre-owned phone goes through 7 different middlemen before reaching the final buyer. Between depreciation, extra wear and tear, shipping costs, and of course profit, the final buyer pays up to 50% more than what the original seller was paid.
- Trust: There’s a lack of consistency in industry grading standards that leaves consumers guessing at the quality they’ll receive when they purchase a pre-owned mobile device.
- Sustainability: A typical mobile phone has a useful life of seven years, but consumers hold onto to them for only an average 2-3 years. By creating a healthy and transparent secondary market, we’ll extend the useful life of mobile phones which will have a positive effect on the environment.
6) What types of phones does IGWT carry?
IGWT’s e-Commerce site Glyde.com carries the phones not IGWT directly. Customers have access to top Apple and Samsung devices. The majority of the phones on Glyde.com are unlocked, covering customers from all wireless carriers in the United States. The goal is to allow them to easily upgrade their latest device every year or two at a much lower price point. This gives customers access to the latest technology without having to pay $1,000 for it every year or two.
7) How did IGWT Block come about?
IGWT Block was founded by PCS Wireless as a wholly-owned subsidiary. PCS Wireless is a privately held company.
IGWT is leveraging its parent company’s proven track record, diagnostics and industry know-how to disintermediate the telecom mobile industry category with a dynamic blockchain technology stack.
8) Has the company launched its entire ecosystem?
As with any complex technology, we’re launching the ecosystem in phases. The first phase started in September 2019 with the relaunch of Glyde.com.
The next phase should take place in the first half of 2020 when we integrate the TessaB registry, putting all transactions on our blockchain. This is when we’ll start to see a level of transparency about the condition of pre-owned devices unprecedented in the industry.
And finally, in the second half of 2020 we’ll launch the TSB Digital Asset which will accelerate growth and activity in the TessaB Ecosystem as participants are rewarded for creating value in the ecosystem.
9) Who are TessaB’s customers or partners?
TessaB’s first partner is Glyde who will be the first to commercialize TessaB powered services including trade-ins, buybacks and device protection. With Glyde, consumers will get value for their trade-ins, pay 15%-80% less than for the latest premium pre-owned devices, so they can afford to upgrade more frequently compared to the carrier model.
10) Who are your other partners?
We are also partnering with a leading device diagnostics company. Their technology will be part of the TessaB mobile app, which will drive the device sales, trade-in and buyback experience. Once a device is tested with the app’s diagnostics tools, the data is recorded to the blockchain ledger. The technology is capable of conducting remote diagnostic tests on all major components including testing whether the screen is cracked or if there’s water damage.