Telcoin is a cryptocurrency that wants to be distributed over mobile networks and available globally.
The idea is that it’ll be distributed by GSMA mobile network operators and their 5 billion mobile users. Then TEL token is the mobile money that can be used for minutes, prepaid credit, billing, and other financial services.
Telcoin wants to be the first cryptocurrency that taps into the synergies between mobile telecom reach and the borderless nature of blockchain. There are 5 billion mobile phones versus just 1.2 billion active bank accounts.
The benefit for customers is that they will have seamless access to the digital economy. With a mobile token they can do online remittances, transfers, payments, and e-commerce.
Telcoin doesn’t want to compete with telecom mobile money. Instead, they want to cooperatively participate in the overall mobile money ecosystem.
To that end they are working directly with the telecom companies and believes it’s an advantage as you can leverage their trust, reach, and KYC compliance. Per Telcoin they are already in discussions with mobile operators and will eventually deploy a pilot project.
TEL is an ERC20 token and there’s a total supply of 100 billion. As of this writing just about 21 billion are in circulation.
As for the rest of the coins 50% will go to the mobile operators over a 10 year period, 15% to Telcoin Pte Ltd., 5% to a liquidity fund, and 5% for the Telcoin Foundation.
Overall I like the idea of leveraging off mobile operators. One drawback though is that after reading the whitepaper is apparent Telcoin will have a lot of regulatory hurdles to get this off the ground.
I’m going to watch and see if they can get a pilot project off the ground.
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