Checking Out Telcoin (TEL)
Telcoin is a cryptocurrency that wants to be distributed over mobile networks and available globally.
The idea is that it’ll be distributed by GSMA mobile network operators and their 5 billion mobile users. Then TEL token is the mobile money that can be used for minutes, prepaid credit, billing, and other financial services.
Telcoin wants to be the first cryptocurrency that taps into the synergies between mobile telecom reach and the borderless nature of blockchain. There are 5 billion mobile phones versus just 1.2 billion active bank accounts.
The benefit for customers is that they will have seamless access to the digital economy. With a mobile token they can do online remittances, transfers, payments, and e-commerce.
Telcoin doesn’t want to compete with telecom mobile money. Instead, they want to cooperatively participate in the overall mobile money ecosystem.
To that end they are working directly with the telecom companies and believes it’s an advantage as you can leverage their trust, reach, and KYC compliance. Per Telcoin they are already in discussions with mobile operators and will eventually deploy a pilot project.
TEL is an ERC20 token and there’s a total supply of 100 billion. As of this writing just about 21 billion are in circulation.
As for the rest of the coins 50% will go to the mobile operators over a 10 year period, 15% to Telcoin Pte Ltd., 5% to a liquidity fund, and 5% for the Telcoin Foundation.
Overall I like the idea of leveraging off mobile operators. One drawback though is that after reading the whitepaper is apparent Telcoin will have a lot of regulatory hurdles to get this off the ground.
I’m going to watch and see if they can get a pilot project off the ground.
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Sounds like a very promising coin. With everything on mobile now, cell phones are the future of arguably everything.
If this coin is adapted by a major provider, it would see huge returns. Something to think about and research. Thanks for posting!
There is a country in Africa that's been using something very similar for some time now.
Let me look it up and I'll edit this post with a link!
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Don't forget to take a look at my blog ;)
Edit:
It's called M-pesa and it's very popular in Kenya specifically.
Here's a link I found https://www.cnbc.com/2013/11/11/cashless-africa-kenyas-smash-success-with-mobile-money.html
But you can of course Google M-pesa for more info.
Cheers!
mPesa - Kenya
This is actually a VERY solid concept!
Going to take some time but it could work.
Hmmm...checking this out! Where are you finding out about all of these coins dude? P.S. Are you on Steemit.chat?
They did an ICO Pitch at TNABC 2018. Interesting concept. Will probably get pumped just because it's a 'cheap' coin lol.
Not on steemit.chat really, discord on occasion.
Ah nice, which ones? I am on there every so often and wanna chat about some ICO stuff if you have a few mins sometime!
I'm on Steemians on discord... we'll chat in the near future.
I wouldn't bite unless there's proof of agreement, or at least memo of understanding, with at least one executive from a telecom company.
yea i'd at least like to see a pilot project
this info is very useful. I hope many other important info. thank you
Cheers!
thanks for sharing
I took a look at it and you flagged the difficulty due to regulations but they also need Telcom companies to play ball and partner with them. That will be a even bigger challenge.
Bottom line: i agree with you that it should be watched only at this point.
I'm afraid because it's a 'cheap' coin it will get pumped.
Yes the price point is great if you think it will hit $1 or even 0.10 one day. I had same thought that you did, perhaps i could buy for short term play. ultimately i choose to pass but maybe buy the dip. or buy KIN over this one. i haven't pulled the trigger on either idea ha
This is huge, great intel my man. Might be another alt coin I add to the portfolio.
No problem... yea might make a good small spec