All that I wanted to know about the Telcoin ICO

When does the ICO start?
11th Dec 2017 an opportunity to participate in the ICO at an early stage of the Telcoin Economy
What is Telcoin
Telcoin is a EC20 token, a cryptocurrency based on the Ethereum blockchain.
The Telcoins would be distributed by your national telecom operator and made available to anyone.
Anyone? Ya provided you have a mobile phone. Since there are 5 Billion mobile phone users out there it sure seems a big ready made market ready to be captured by Telcoin.
Mobile phone would be your wallet that would hold the Telcoins.

All the end user needs to know is the mobile number of the person to whom he wants to send the money.This way anyone can send money to anyone around the world by just knowing their mobile number.
The Business model
A user can buy Telcoin tokens from the phone operator.

Why would the end users buy the tokens?
In the Telcoin world the Telcoin token would be the currency that the end user can hold in his mobile through a wallet and send to anyone with a mobile number.
So Telcoin can be used to send money across the world like money and tokens have value just like money we use in real world.

How does the Telcoin business model make money?
Just like in the real world a transaction fee is generated every time a transaction is conducted. So the act of sending money generates revenue.
By participating in the ICO one can get Tokens at a lower rate.
The end consumer buys Telcoin from his operator. He can do so by using the money in his wallet or the account credit to buy these tokens. The telecom operator would get a fee for selling these Telcoin tokens to the end consumer.

There is a 5 billion remittance market and it is expected to keep growing and by 2020 the number of remittances would reach 2 trillion.
Talking about sending money the term widely used is “Remittance”

Telcoin is going to focus on the US$500 Billion remittance market.

So why would anyone use Telcoin tokens to send money in the first place?
Let us see how remittances business works.
Take the example of sending money through Western Union
For a $1000 payment the processed payment at the recipients end would look some thing like this

The remittance industry is well established with an average remittance fee of 7.42%
Thus the recipient would get approximately 8% less then what is sent to him.
Telcoin would enable the end user to conduct the services at nearly one third ie 2.5% of the transaction value.

Tourists can use the Telcoin for paying for products and services in a foreign country. This way they do not have to convert their own currency into a foreign currency and save on the currency conversion charges. No need to search for forex exchangers to convert currency as Telcoin money in your mobile would be good to use anywhere you travel.

To release financial aid to a select population, the aid disbursement can be done easily without engaging any middleman and prevent fraud. Money can also be sent to those who do not even have a bank account.
More Information & Resources:

Telcoin
Telcoin WhitePaper
Telcoin Twitter
Telcoin BTCTalk
https://steemit.com/cryptocurrency/@originalworks/150-steem-sponsored-writing-contest-telcoin

This post is for information purpose only and not an investment advice. Please do your research and due diligence before making an investment decision.
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