Electroneum has launched a revolutionary smartphone called the M1. The device is targeting the developing world market and will pay users for using it.
The M1 smartphone is built using a unique cloud mining technology developed by Electroneum. The technology is integrated into an app that comes with this device, allowing users to earn digital currency rewards. However, the $80 price tag is the most interesting aspect of this innovative gadget.
Despite its inexpensiveness, the smartphone doesn’t compromise on build quality and performance. It has features that cater to users in developing countries such as dual-SIM support as well as 4G internet connectivity. Concerning colours, the M1 will be available in ‘Electroneum Blue.'
To my major cryptocurrencies, you have to spend large amounts of money to purchase the often expensive mining hardware. This means that it is almost impossible for people in the developing world to venture into the crypto mining business. The M1 addresses this challenge by allowing users to earn Electroneum (ETN) rewards by simply using the phone.
Electroneum has developed an app-based cloud mining platform that can be easily accessed using any smartphone. Even better, the app is available for free and continues to mine cryptocurrencies without an active internet connection. The ETN can be used for shopping on e-commerce stores, buying airtime and topping up data bundles.
Promoting Universal Accessibility
As mentioned earlier, the primary target market for the M1 is the developing world. Its incredibly affordable price will certainly solve the problem of universal accessibility, one of the leading inhibitors to the mass adoption of cryptocurrencies and blockchain technology.
Besides promoting the adoption of digital assets, the M1 will also function as a means of communication and a tool for financial empowerment. So far, many suppliers have indicated their interest in sticking up the smartphone. Its pocket-friendly price is also expected to drive clients into acquiring the gadget.
And another massive announcement. Today we are delighted to announce the launch of the #Electroneum M1 phone – the $80 #android #smartphone that pays you back. Watch Rich's Video here to find out everything about the M1. https://t.co/8qY0izZrtW #mobile #mobilepayments #crypto
— electroneum (@electroneum) February 25, 2019
Other factors that are likely to increase the appeal of the M1 to customers include the long warranty period and approvals from GSMA and Google GMS. The phone is also compatible with most service provider networks across the globe.
According to Richard Ells, the CEO and founder of Electroneum, the M1 project was successful because combined the knowledge of leading experts from various sectors such as telecommunications, marketing, manufacturing, and design. Richard also expressed confidence that the smartphone would play a key role in the realization of their company’s goals.
Partnership with The Unlimited
The launch of the M1 is not the first time that Electroneum has targeted the underprivileged and unbanked populations in developing countries. The company also formed a partnership with The Unlimited, a South African financial services provider that also functions as a mobile virtual network operator.
The partnership with The Unlimited will allows users to top up data and airtime using ETN. As an incentive, the clients will get twice as much data and airtime if they to up with ETN. In exchange, Electroneum will benefit from having a bigger client base.
The deal with The Unlimited also means that ETN will have a real-world application. This offer aims to reach out to the unbanked population who earn less than $30 monthly. Essentially, the double airtime incentive coupled up with the ETN mining rewards save the money that would have been spent on purchasing airtime or data.