Telcoin - How to change the international economy through innovation

sether (39)in #writing • 7 years ago

Almost every single person around has a phone today. Even in developing countries, where banks are not as secure or trustworthy as they are in first world countries, people still have cell phones. They have become a "necessity." I use the word necessity because it is so common place to get an installment-loan on a cell phone. Installment loans are typically only common on necessities, i.e. house, car, etc.

The new mobile cryptocurrency Telcoin plans to use this widespread availability of consumer cell phones to innovate common place trading and purchasing of goods. The transfer to Telcoin will enable foreign travelers to purchase goods without performing exchange rate conversions. It also creates a base currency should anywhere lack one.

All Telcoin requires is a users telephone number. This does away with long, complicated cryptocurrency addresses. Also, this allows for greater ease of use and contact management for businesses. The ability to pay a bill or transfer funds for any reason with just a telephone number profoundly changes the way our world does business. Plus, using blockchain technology, the record of the transaction will forever be available on the public ledger.

As more and more people switch over to paperless billing in first world countries, Telcoin is serving a niche that desperately needs to be filled. The ability to pay any bill, regardless of nation, with just a telephone number and SMS text message is truly profound.