 This is JSA TV and JSA Podcast, the newsroom for telecom and data center professionals. I'm Dean Peride, executive vice president at JSA, coming to you from ITW 2020, the virtual ITW. And joining me today is Mr. Jeff Mason. Jeff is the founder and CEO of TESPE. Jeff, welcome to JSA TV. Thank you very much, Dean. Pleasure to be here. You got it, you got it. So let's just jump right in here, Jeff. For our viewers that don't already know, why don't you tell them a little bit about TESPE? Sure. TESPE is a blockchain-based payment settlement system designed to serve specifically the wholesale telecom market. So by making use of smart contracts, which are a feature of the blockchain, carriers enter into smart contracts with each other. So this is a high volume but low margin business. And tier one carriers typically demand 30-30 payment terms. So tier two and three carriers that supply these tier one carriers have difficulty in supporting this financing requirement of 60 days. So this is where TESPE comes in because we provide the funding to the tier two and tier three carriers on a daily basis and we wait the 60 days to get paid from the tier one operators. So as a lot of the participants in the telecom industry understand, a long-distance call when it's made, quite often there can be a number of different participants in the chain and they all have to grant credit to each other. And so within the TESPE model, when the carriers enter into these smart contracts, they all get linked together so that this credit risk no longer needs to be taken by the tier two and tier three operators because TESPE will ensure that they get paid every day. So unfortunately in this industry, there's quite a bit of fraud, but our system protects the honest players by significantly mitigating these fraud risks. So an example of some of these fraud risks are like credit fraud, so for non-payment. So one carrier granting credit to another, I mean in this industry by its very nature, you're always dealing with an international counterpart. And it makes it very difficult to assess the credit worthiness of counterparts that might be on the other side of the world. And tier two and tier three operators typically don't have the balance sheets to support the lending, but nonetheless this kind of lending does happen in the industry. And if any one of these operators within the chain doesn't pay their bill, everybody that's downstream from the defaulted payment gets significantly harmed. So TESPE protects against these kinds of issues. There also can be other kinds of fraud like social engineering. So for example, somebody can send an email to their customer saying, hey, I've changed my bank account. Can you direct your next payment to this bank account number? And maybe that email comes from an email that looks very, very close to the actual email of their customer, but there's some small difference. I mean the fraudsters get very skilled at this stuff. So then the unwitting customer makes a payment to the supplier, to the wrong bank account. And this player says, hey, where did my payment go? Like what are you talking about? I made it to you. And the other thing that can happen on the telecom side of things is that all of the calls are authenticated by IP address and effectively like a password. And so what can happen at times is that someone will get a new switch. So they'll send, let's say an email to their supplier saying, hey, I've got a new piece of equipment. Can you authorize this please? And so they'll enter that new IP into their switch. And then if it's a fraudulent IP, what will happen is because the billing cycle is long, 30-30, at the end of that 30-day period, you send the bill to the tier one operator for, I don't know, let's say $2 million and they say, what are you talking about? I only sent you $1.2 million worth of traffic. And only upon further investigation do you find that there's a fraudulent IP that received a lot of that traffic or that the traffic came from. So again, test pay provides mechanisms to prevent this kind of loss. Excellent. I feel like I should be saying thank you for doing what it is that you do. Clearly there are people out there who, you know, don't have the best intentions in mind. So it's great to know that folks like test pay exist to help the rest of us out. But earlier this year you made a pretty big announcement regarding your secure payments platform. Why don't you tell our viewers a little bit about that? Okay, sure. I mean, we've actually been in commercial production for about seven months right now. And so we're currently processing about $12 million a month of transactions from tier one carriers. And we've now also secured significant funding to onboard significantly more contracts throughout the remainder of this year. Wonderful. Congratulations there. But let's look ahead. Some great things happening right now for you. But what do things look like for test pay, say six months or a year down the road? Well, I think we just want to do more of the same. We just want to onboard more and more carriers. I mean, with the tier one operators, I mean, they're large entities, almost bureaucratic at times. So it can take some time to develop their comfort to get to the point where they're comfortable to send their traffic through a new paradigm. But I think that it'll become easier and easier. I mean, as we bring a few on board, you know, the third and the fourth and the fifth, you know, have some immediate comfort knowing that there's somebody that's preceded them. Awesome. So for our viewers that would like to learn more about test pay, where should they go? Well, that's very simple. They can just go to our website, www.testpay.io. So that's T-E-S-S-P-A-Y.io. And there's quite a lot of good information on our website. And also a very short video if they want to just spend maybe one minute watching that. Perfect. Jeff, thank you so much for being with us today. We appreciate it. You're very welcome. And thank you viewers for watching JSA TV and for tuning in to JSA Podcasts. We'll see you soon.