Telcoin - Revolutionizing mobile payments

Hi!

I'm fairly new to the Steemit social network, this is actually my first post. I recently came across a new innovation in the cryptocurrency world called Telcoin, which i wanted to share with you guys!

What is Telcoin?

Telcoin is a brand-new cryptocurrency based on the Ethereum blockchain.

You may have noticed cryptocurrencies are all quite the hype at the moment. However, Telcoin has something that i believe truly adds something that no other coin out there offers. 

Their vision is to work together with telecom operators in order to enable any mobile phone user to transfer money from their phone to someone else's using only the phone number of the recipient. Your mobile phone is essentially your cryptocurrency wallet.. sounds pretty convenient to me!

Alright, so how is this going to revolutionize anything?

Well, i think it is because of the following reasons:

• Approximately 2 billion people of the global population does not have a bank account. These are mostly people from developing countries. There are nearly 5 billion mobile phone users. With Telcoin the group that owns a mobile phone but does not have a bank account can still perform banking operations.
• It does not matter where you are, as long as you have your mobile phone with you, you will have access to banking services. For example tourists or foreign workers wanting to transfer money to his/her home country. This is actually one of the largest financial inflows to developing countries.
• From the Telcoin whitepaper: 'By partnering with mobile operators, Telcoin can avoid key points of friction that have prevented similar projects from succeeding: trust, reach and KYC compliance.' 
• Mobile operators will want to adopt Telcoin because core telecom services are becoming more and more commoditized and they will seek new ways to differentiate themselves from their competition.
  

How will it work?

Like i said earlier, to transfer Telcoin from yourself to another person, you would only need to know the mobile phone number of that person.

For example, Let's consider a person who is currently working abroad to provide for his family in his home country. With Telcoin, not only will this person no longer require a bank account or have to convert currencies somewhere, he/she can actually quite easily transfer money from his phone to his family. All he would need is the mobile number of that person and the rest will be taken care of.

I think there are many aspects to Telcoin that make it a great product and i really feel like they have thought their product through and decided on their target audience very well. I would recommend reading their white paper to get more detailed information. They have a very experienced team from divers sectors (e.g. Telecom, IT)

The ICO starts on december the 11th !

You can also check out their website: https://www.telco.in/

@OriginalWorks Post

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