Telcoin aims to bring the utilization of their cryptocurrency to the masses via cell phone providers. With practically everyone having a cell phone, fluidly utilizing a cell phone for cryptocurrency could be a game changer for the cryptocurrency market, given billions of people that use a cell phone via a cell phone service provider.
In their own words:
Telcoin is a new cryptocurrency based on the Ethereum blockchain that will be distributed by your national telecom operator and made available to everyone, anytime, anywhere. This is the core of our business, and mobile network operators will be at the center of our strategy. Telcoin is a company focused on connecting with mobile networks on a global level, enabling easy conversion between telecom mobile money, prepaid credit and postpaid billing platforms.
How it works
A wallet-agnostic ERC20 token issued by telecoms
Our model is simple: We will distribute Telcoin to mobile networks according to the incentive model below, and they will sell it to their subscribers
A solid model for telecom adoption
Telcoin issuance to telcos will occur at a rate of 5% annually for a period of 10 years following the ICO, distributed to GSMA mobile networks continuously based their stage of Telcoin integration.
Connecting to Telcoin will make an operator immediately qualify to receive continuous Telcoin issuance. Networks with more Telcoin exchange traffic will receive more.
Flexible Telco API
The Telcoin pricing and exchange API allows interaction with mobile network IN prepaid platforms, postpaid billing systems, and mobile money accounts, via SMS, USSD, REST APIs, and Diameter.
We will immediately offer the TenX wallet, but will also help telecoms release branded Telcoin wallets and will cooperate with any operator proprietary or third-party wallets.
Telcoin is designed to be fully integrated with your mobile spending habits, including international remittances, online payments, mobile credit topups and ad hoc transfers.
Reimagining remittances on the blockchain
Telcoin will initially focus on the remittance market, currently dominated by large players like Western Union:
International Remittances are a gigantic and growing market that Telcoin believes is ripe for disruption.
5 Billion phones and growing
By partnering with mobile operators we will be in a unique position to reach an enormous amount of potential customers.
By coupling the power of cryptocurrency and telecoms, we can afford to provide very cheap transfers, which will allow us to gain market share.
The Telcoin roadmap is not limited to remittances. We will leverage our positioning to bring roaming spending (offer tourists access to local currency spending), international aid (facilitating disbursements to underbanked), and online payments in general.
More information can be obtained here