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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 their business, and mobile network operators will be at the center of our strategy.
Telcoin is the first cryptocurrency to tap into synergies between the reach of mobile telecoms and the fast, borderless nature of blockchain technology. According to the World Bank, there are nearly five times as many mobile phones in the world (5 billion), as there are active bank accounts (1.2 billion). It's a lot easier to access mobile phone services than banking services, and they aim 1 to capitalize on that disparity.
They will initially offer Telcoin to their mobile network partners, providing their customers with seamless access to the digital economy: online remittances, transfers, payments, and ecommerce. They will also provide the necessary marketing and product development resources to nurture the Telcoin ecosystem, in a joint effort with their telecom partners.
Their objective is not to compete with telecom mobile money, but to cooperatively participate in the overall mobile money ecosystem. They see themselves as a complementary solution; a tool that will increasingly bring users to mobile money, cryptocurrency-backed solutions, and mobile wallets. Their goal is to become one of the cornerstone financial inclusion efforts of the 21st century and they want to cooperate with actors who they believe can play a critical role in this process, namely mobile network operators.