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Telcoin has moved from around 150Th rank to the ’50s in just a matter of days and has rallied over 33000% since the start of this year making it one of the best performing cryptocurrency of this bull run.
Nowadays the hype of telcoin is really beginning to heighten up, the total watchlist is increasing day by day, and I think it is just a start.
00:00 – Introduction to Telcoin
01:05 – Telcoin Project Explained
01:41 – What is Telcoin
03:24 – How Telcoin Works
05:42 – What are the goals of Telcoin
07:38 – Use cases of Telcoin
09:19 – Uses of Telcoin
10:34 – Telcoin app
10:59 – telcoin partnership with unipagos
12:15 – Telcoin achievement
12:41 – Telcoin Roadmap
13:25 – Should you Invest in Telcoin
14:35 – Telcoin price prediction
Telcoin is a project based on the Ethereum blockchain and is meant to be a payments protocol, using mobile payments to provide borderless transfer services similar to Western Union and Money Gram but at far lower costs, Telcoin‟s official website reads “Financial inclusion for a mobile world. A cryptocurrency distributed by your mobile operator and accepted everywhere.”
So, the first question arising in your mind would be that what the hell this Telcoin is? Well, I have covered you there.
What Telcoin (TEL) actually is?
Do you know that there are nearly five times as many mobile phones in the world (5 billion), as there are active bank accounts (1.2 billion)? Well, this is what the World Bank’s data says and which means that it’s a lot easier to access mobile phone services than banking services. Now, what if people can use their mobile phones for banking services? You will say this is already happening. People use their mobile devices for net banking. But let me tell you that even for net banking you have to have a saving account or current account in a bank or other financial institution.
So, what if people can use their mobile devices for banking services „without a bank account? This is where Telcoin‟s innovative model comes into play. Telcoin, through partnering with mobile networks, will provide people access to the digital economy which includes online remittances, transfers, payments, and eCommerce, and all this will be done through blockchain technology.
Telcoin, founded in 2017 by Claude Eguienta (CEO) and Paul Neuner (chairman), is the first cryptocurrency to tap into the linkage between the reach of mobile telecoms and the fast borderless nature of blockchain technology. In simple words, it aims to bridge the gap between
the telecom industry, cryptocurrencies, and blockchain technology.
Why Telcoin is partnering with Telecom Industry?
There are three common reasons why Cryptocurrencies have not yet been able to succeed when it comes to playing a reformative role in the digital economy – Trust, Reach, and KYC compliance.
Trust – Although the market of crypto is continuously growing the trust issues are still there due to the possibilities of hacking of funds, cyber-crimes, manipulation of prices, and much more.
Reach – As already mentioned above, there are more than 5 billion people having mobile phones, and partnering with the telecom industry will help them to get this vast reach of potential users.
Telecom, in exchange for incentives and growth in revenue, will provide immediate access to their existing subscriber base, to Telcoin.
KYC compliance – With the growing market, cryptocurrencies are also becoming more regulated and user needs to go through a cumbersome “know your customer” (KYC) authorization before allowing the purchase of cryptos. Again, Telcoin, by going with a telecom-distributed cryptocurrency will use Telecom‟s already existing KYC process making it easy for the users. Mobile operating networks also have technical data such as call records, location details, etc. which will certainly help Telcoin to make transactions more secure and transparent.
According to the founders, the main objective of launching Telcoin was financial inclusion. In African and Middle East regions and even in Southeast Asia, there is still a lot of population which is financially excluded. It doesn‘t have the access to banks or other financial
institutions. In this scenario, Telcoin‘s aim is to ―increase financial inclusion worldwide through convenient and affordable digital money transfers on any mobile device.
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