TELCOIN - bringing cryptocurrency to mobile networks globally through mobile payments

What is Telcoin?

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.

How does it work?

Mobile operators would be the middlemen in exchanges of Telcoin and it's users. If the operator doesn't have enough Telcoins to balance supply/demand, operator would exchange with Telcoin. However if the operator has his supply/demand balanced they would just exchange their own liquidity to it's users.

How will it benefit me as a customer?

As we all know, time = money, and with today exchange systems, we lose both!
This is why Telcoin switches up the game by resolving issues - bringing trust, low fee, and instant payments.
"We already have mobile wallets etc. mpesa" - you might say, but they are all too local, whilst Telcoin would be worldwide!
On top of that, the fees for conversions between Telcoin and mobile money are only 0.5 %!
So it would total to 1% fee for exchange user-to-user worldwide. How awesome is that?!

How will it benefit me as a telecom?

How will it benefit me as a business?

Imagine this;
Scenario A: You are an online store selling t-shirts, customer sees the t-shirt and he/she likes it, but he/she is scared to pay with card because of malicious, hacker attacks, money theft and going below 0 cash balance, on top of that, credit card can get declined and it doesn't have to be because of no funds on a card.
Scenario B: Customer has a mobile phone, he uses Telcoin, he sees your t-shirt, likes it, and buys it without any fear.

Which scenario would you prefer as a business? Greater trust = greater profits, and that is brought by Telcoin.

Will Telcoin have effect on tourism?

Most likely, because a tourist will in most cases book a flight, book a hotel room in a foreign country, they have to bring credit card and/or cash, with Telcoin the only thing they need is their phone.
We all know there's international fees for global transactions, that means greater expense for business and customer.
The tourist has to come in currency exchange office and get billed with fees for currency exchange.
With Telcoin - "Offer tourists easy access to local currency spending to increase the value proposition for inbound and outbound roaming and thus increase roaming revenues."

This contest was brought by @OriginalWorks - The contest
Disclaimer: This is a submission for a contest, this is not any form of advice, professional opinion on the subject or a claim of legitimacy on the subject

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