Startups

Telcoin: Making Crypto Easy Via Cellphones

There is no denying the plethora of dynamic solutions that are being offered by the blockchain technology, which only leaves us gushing more on its potential. However, in spite of its ever-growing popularity, its relative adoption is still considered to be quite low. And it all boils down to the anxiousness of the newbies in the cryptoverse and honestly? We can’t really blame them.

The whole process of blockchain adoption is pretty overwhelming in itself with the whole, requiring to registration with an exchange, learning the technical ropes, fulfilling KYC formalities, and signing up for a wallet etc. All these things have managed to really enhance people’s reluctance towards blockchain technology and forces them to turn their backs on the benefits that it has to offer.

But lets talk about something that people have in fact adopted and adopted well, cell phones. According to the World Bank there are roughly more than 5 billion cell phone users worldwide. Now what if someone, were to combine the two, the ground-breaking tech that is hard to adopt and the tech that has adopted as a necessity? This all-new cryptocurrency is doing just that; Telcoin is specifically designed to bridge the gap between blockchain tech and mobile service providers.

Telcoin is one of the first crypt projects developed for the facilitation of digital asset exchange via telecom channels, which also makes it a global cryptocurrency that provides the ease of accessibility through a network which is established as convenient and trusted as well.

The Telcoin Token

The native token is TLE and since Telcoin is based on the Ethereum blockchain thus the TLE is an ERC20 token. Further Telcoin mining is not supported on the network. The Telcoin tokens will have a number of use cases like,

  • Online remittances
  • Monetary transfers and payments
  • E-commerce

How To Buy Telcoin (TEL) Cryptocurrency ?

Telcoin cryptocurrency is listed and can be purchased from the following list of cryptocurrency exchanges:

  • Kucoin,
  • Hitbtc,
  • IDEX,
  • EtherDelta

The Working of Telcoin

The Telcoin system is comprised of three chief components,

  • The network providers
  • The Telco platform
  • Subscribers

Telcoin gives customers the full access to their money through their mobile phones. After the users digital wallet has formed a link with the Telcoin platform, then the transactions can easily be carried through from that users address.

While it is beneficial for the customers, the platform also incentivizes the mobile operators, where by they receive their share of Telcoin tokens. Those tokens will be stored within multi-signature wallets and will also have at least two private keys, thus fully securing the tokens.

The network operator wallets are completely administered and handled by Telcoin for the purpose of simplifying the management. In addition to streamlining the workload along with day-to-day business operations for companies, it further diminishes the transaction burden that is handled by telcos across the world.

The Key Features of Telcoin

The first and arguably the most important feature of Telocoin is that it’s totally complaint to all the guidelines, currently used by mobile operators globally. Which automatically means that Telcoin is also in alignment with the international telecom regulations, and thus can easily be used with GSMA mobile networks.

The Telcoi platform has also struck alliances with some of the worlds key network providers, in order to achieve its goal of easy blockchain adoption, by establishing a robust infrastructure that has the potential to support roughly 5 billion users.

Moreover, the company distributes its native tokens, to mobile networks via a rewards-based model in such a way that it allows for incentives to be achieved by each and every participant within the network.

Lastly, the Telcoin platform offers its users with a fully customizable wallet, which is called the TenX.

The Telcoin Team

Source: https://www.telco.in/#s_team
Source: https://www.telco.in/#s_team

 

You can read the whitepaper here. 

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Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Email: abeer@blockpublisher.com or contact the editor at editor.startups@blockpublisher.com

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