Nowadays, cryptocurrencies capture the attention of most of the investors and curious people in the world, largely due to the immense media coverage imposed by the Bitcoin as the main decentralized digital currency of the moment. Given this reality it is necessary to devote time and effort to study those alternative projects that demand our interest, in today's case it is time to share information about Telcoin(TEL), warning the community that what is expressed here does not correspond to a form of advice or recommendation on my part to encourage the purchase or sale of this cryptocurrency.
In general, each project in the world of cryptocurrencies aims to cover some need or niche that from the world of conventional money is unlikely to be accessed or very expensive, in the case of Telcoin aims to become the crypto of remittances, understanding that the process of transferring or sending money in the fiat world is very unfavorable for both sender and recipient, while the institutions take the best part.
Telcoin is a decentralized cryptocurrency from the Ethereum environment, whose main function is as I said before, to offer an agile and fast remittance payment system combining blockchain technology with telecommunications. To achieve its goal Telcoin offers a technological proposal where this cryptocurrency becomes the form of payment for cell phone service companies, as a way of offering customers the possibility of
to make transfers in this digital currency.
There has been an increase in the rate of blockchain integration in the remittance sector. Remittances are a financial lifeline in many places and, in some cases, represent a large portion of a country's GDP. For example, in places like El Salvador, Haiti or Somalia, remittance payments equal more than 35.3 percent of their GDP. Clearly Telcoin aims to ensure those millions of people around the world who depend on sending money, a reliable, decentralized and inexpensive method of remittances.
Necessary to highlight the fact that in the fiat model currency remittance is usually handled by centralized providers, which tend to increase their fees as more people engage in international currency transfers. Telcoin proposes to break with this institutional structure through a simple and cheap mobile payment technology where the wallet address is your phone number.
Behind Telcoin are developers Paul Neuner (CEO) and Claude Eguienta, who unveiled their project in July 2017 in Singapore, with the purpose of helping the millions of humans who require to send money to their loved ones instantly and at low cost. to transfer money in the shortest possible time. Before creating Telcoin Neuner had a vast experience of 12 years in the blockchain telecommunications sector, being his first involvement in this the Mobius project, a startup that provides fraud management services to mobile networks. Meanwhile Claude Eguienta worked for startups and large technology companies focusing on providing customers with the best financial services for more than a decade.
Telcoin runs on the Ethereum blockchain and uses its best features to fulfill its purpose. Telcoin uses Proof of Concept (PoC) instead of validators to ensure consistency in transactions. What Telcoin does is verify whether a transaction has any real-world viability before validating it.
The Telcoin model has three components: network, telcos and subscribers. It ensures proper care of wallets as well as network implementation. As is common practice with decentralized cryptocurrencies, Telcoin users retain full ownership and control of their tokens in addition to their private keys.
As of today the Telcoin TEL project token is presented with a value of US$ 0.01521, presenting a market cap of US$ 1,521,141,824. Its total supply is 100,000,000,000,000 of which 54.6 billion TEL have been circulated. It is likewise possible to acquire it on Kukoin, Uniswap or Indodax as well as on any of the markets linked to the Ethereum network (ERC-20).
