Source

(IJCH) Telcoin: "Mr. Exchangevsky, Tear Down this Wall!"

IJCH - Inside JaiChai's Head (meaning: My warped, personal opinions and musings)

From the Author

Salutations.

I am JaiChai.

And if I haven't had the pleasure to make your acquaintance, it's always nice to meet a fellow Steemian.

(This post is submitted as an entry to the Sponsored Writing Contest: Telcoin - @originalworks: https://steemit.com/cryptocurrency/@originalworks/150-steem-sponsored-writing-contest-telcoin)

Source

The gatekeepers of the banking sector have built-in, discriminatory barriers for entry that leaves over 85% of the world's population unbanked/underbanked.

Over five billion people do not have access to the normal financial services offered by any bank.

The KYC/AML and additional, stringent guidelines for account approval make it virtually impossible to get a bank account without steady employment, a permanent address or a landline telephone.

Source

Mobile Carriers: "Mr. Bankachev, Open these Gates!"

- Enter Cellphone Mobile Money -

Cellphone mobile money is not new.

In fact, in several countries around the globe - most notably in Africa and Asia - cellphone mobile money has been flourishing for years.

There are over 4.5 billion cellphone users.

It has made the financial lives of the unbanked tremendously better.

Source

Telcoin: "All in all, it's just another - Brick From The Wall..."

Ethereum-based Telcoin aims to break down another barrier - the one that makes buying cryptocurrency such as Bitcoin very difficult for many people.

All the major cryptocurrency exchanges have strict verification rules that include KYC/AML requirements similar to those necessary to acquire a bank account.

Source

Telcoin is NOT positioned to be a competitor to the currently established carriers that already offer mobile money to its customers.

Rather, Telcoin will partner up with them and serve as a bridge to the cryptocurrency space.

Source

Buying Bitcoin - The Good, The Bad and The Ugly

(Key background music: "Ooh-ah-ooh-ah-ooooh, wuh-waw-waaaaw. Ching, ching-ching, ching...)

Although things have gotten a little better since the early days, the majority of people who want to acquire Bitcoin for the first time are still confronted with confusing, time-consuming and outrageously expensive alternatives.

For example, the Bitcoin buyer must consider their geographic location and nationality because many Bitcoin-centric institutions are mandated by their country's laws to limit their client base strictly to citizens of its own country.

Another option for acquiring Bitcoin is to buy it from someone in your local area or use services based on the LocalBitcoin model.

In the early days, face-to-face (QR-Code to QR-Code) transactions were necessary.

Privacy-centric (and especially, agoraphobic individuals) view this acquisition method as severely dissonant with their personal beliefs and lifestyles.

What about Debit and Credit Cards?

I've found buying Bitcoin with debit and credit cards to be as much as 65% higher than the prevailing rate on the major exchanges.

Source

For anyone owning a cellphone, Telcoin is poised to be the best, convenient method for purchasing cryptocurrency; far superior than the current, hassle-filled procedures.

Through Telcoin, all customers of the carrier will have a fast and convenient way to buy cryptocurrency.

By JaiChai

Source

Many thanks for reading my post. And if you enjoyed it, please: Upvote, Follow, Comment and Resteem.

Source

- JaiChai "My mind was a terrible thing to waste..."

CLICK HERE TO JOIN THE STEEMIT BLOGGERS ON DISCORD

Animated Banner Created By @zord189 [Creatives]

telcoin2017