Telcoin, a start-up company based out of Japan, is now launching into the cryptocurrency business by creating the first virtual mobile currency. The company is now in preparation for its ICO (Initial Coin Offering) which will be distributed by telecommunication companies and will be accepted everywhere.
This concept would allow all subscribers to freely buy Telcoins and participate in the creation of the new cryptographic currency. Even though the official launch date is not scheduled until December 11th, the ICO is already in the pre-marketing phase. This is the first step that has already allowed the accumulation of nearly $11 million for the start-up.
An Invention with the Promise of Change
Telcoin is a crypto-currency that is based on the Ethereum blockchain. This virtual currency will soon be distributed by telecommunication companies. Using only their smartphones, billions of users around the world will be able to access the currency without any additional registration.
The idea is to provide subscribers with a safe mobile payment solution that is both easy to use and efficient.
The idea is to provide a maximum of subscriber mobile payment solution safe, efficient and easy to use. Once integrated into the system, users will be able to go about transactions, without having to open a bank account.
The company is bound to keep on smiling since it has already succeeded in convincing several major companies in Europe, Asia and Africa. This represents about 350 million potential users.
Why Bet on Mobile Crypto-Currency?
According to Claude Eguienta and Paul Neuner, co-founders of Telcoin, most of humanity is currently already using mobile phones. This device that was initially used for communication, is now becoming a versatile tool. Moreover, it is already transformed itself into a digital wallet. The use of mobile technology is, therefore, the best way to succeed in this new type of business.
In general, Telcoin seeks to reach the estimated two billion people in the world who do not yet have a bank account. To do this, the company focused on creating a new version of virtual currency that will be available through telecommunication companies. This concept will allow it to actively compete with the big banking networks and traditional currencies.
The company also plans to capture nearly 100 million subscribers within the next 18 months. Focusing on its connection to mobile networks gives the start-up an edge. Indeed, it gives users the ability to access a simple and easy way to go about their daily transactions.
One of the most interesting aspects of Telcoin is its possibility to transfer money abroad. In fact, money transfers made via mobile devices currently represent about 1% of financial transactions. However, the international transfer market is estimated to be at about $500 billion.
In time, the start-up hopes to see considerable development of its business, since it is offering the promise an attraction transaction rate and a simpler way to do business. Other than that, the company also plans to tackle the entire mobile payment market.