Telcoin – TEL ICO Mobile Cryptocurrency For Financial Inclusion?
The main problem with crypto technologies today is the fact that they are still misunderstood. While they offer us with the potential of hassle free payments, transfers, there are still a large number of people who do not understand the specifics of this medium. As a result of this, the blockchain ends up losing out on potential investors. However, in order to correct this, there are now many crypto platforms that are coming up that make use of ‘friendly interfaces’ that help make trading easy.
What Is Telcoin?
Telcoin is an all new ‘mobile cryptocurrency solution’ that lays particular focus on integrating “cryptocurrencies with mobile networks globally”. Through this mode of action, Telecoin envisions to make conversions between telecom mobile money and, prepaid credit and postpaid billing platforms more easy. Other key aspects of this service include:
Fully Compliant with telecom operator guidelines: this platform stays in line with all international telecom regulations, and will be exclusively distributed by GSMA mobile network operators.
Widespread Availability: Telcoin has partnered with all of the major mobile network providers across the globe to bring this crypto based service to over 5 billion mobile users.
Based on Market Research: the platform has been built upon a solid foundation of the Ethereum blockchain. Analysts have predicted that this market segment has the ability to blossom into a potential goldmine in the coming future. As a result of this, Telcoin inherits the strength of a trusted network.
How Telcoin Works
The company follows a model wherein it distributes its own token to mobile networks according to a highly incentivized model. For starters, Telcoin tokens will be distributed to telcos at a rate of 5% annually for a period of 10 years following the ICO. This phase will be treated as the integration period, and will allow for the currency to slowly slip into the mobile market. Other key features include:
Incentivized adoption: any person who adopts this network immediately becomes part of a family that is eligible to receive continuous token based bonuses.
System Flexibility: flexible “token pricing and exchange API” allows for full interaction of this platform with mobile network.
Secure Wallets: the company offers all of its customers with the ‘TenX wallet’, but also says that in the coming future, they aim to help release their very own brand of wallets that will cooperate and work in conjunction with any operator or third-party payment platforms.
Mobile-friendly: Telcoin is unique in the sense that, it is already fully integratable with our mobile spending habits. The platform allows us to make international remittances, online payments, mobile credit top ups and ad hoc transfers.
Other Important Aspects To Consider
Large Market Potential: market studies have revealed that this crypto domain holds the potential to bring in at least $500 Billion in ‘International Remittances’.
Ever Growing Need: owing to the widespread infrastructure that has been developed over the years by the engineers at Telcoin, there are now over 5 billion users who have the chance to participate in this unique business venture.
Low fees: through the use of cryptocurrencies, this platform has the ability to provide users with very cheap transfers that can allow them to in turn gain a small market share.
Telcoin Initial Coin Offering (ICO) Details
According to the company’s official ‘Whitepaper’, the total Telcoin supply will be composed of 100,000,000,000 coins. However, out of this large figure, only 25% of the total supply will be distributed during the ICO. Not only that, even out of this, 25%, 22% will be available for investors to invest in, and 3% will be allocated to the bonus pool mentioned in the pre-ICO section.
Additionally, it should be noted that the “unit value of a coin will be calculated based on the total amount of funds raised during the pre-ICO and ICO phases”. Telcoin tokens will be purchasable in exchange for Ethereum, Bitcoin or TenX Pay tokens, and all purchases can be executed via the use of smart contracts for a limited time and limited amount.
Lastly, the tokens will remain on sale for a maximum of two weeks and we once the deadline is reached, the sale will be ended.