Where Telcoin is Accepted Locally and Globally
TEL is the token powering the “Western Union killer” Telcoin, which aims to disrupt the exploitative global remittances payment processing industry. Having achieved a top 100 CoinMarketCap ranking, TEL is on the radar of the crypto-sphere and accepted as payment by real-world businesses, like Pita Barcelona (offering some gorgeous wristwear) via crypto payment processors, like CoinGate.
Who accepts Telcoin…
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Should you buy Telcoin?
People sending money from one country to another have been getting badly screwed for a long time by the legacy financial system. The management of Telcoin has decades of combined experience in the telecom industry, they are partnering with telecom to provide fast, cheap payment processing for anyone with a smartphone who wants to send money across borders. If TEL’s price performance in 2021 is any indication, Telcoin stands to make global payment processing a lot more affordable for those in the third world who can least afford the onerous transfer fees charged by the likes of the Western Union and Moneygram…
The use-case is not particularly unique, remittances middlemen have been in the sights of blockchain entrepreneurs since the late 2010s. You can send money to any country in the world very cheaply with any one of thousands of altcoins, but the abuelas and babas of the developing world are going to be averse to using them. If Telcoin can turn cell service providers in different countries around the world into payment processors that actually get cash into people’s hands, they stand to bank billions of the unbanked. I hope that the Telcoin founders have a good plan to deal with the significant political pushback they’ll face around the world on behalf of remittances middlemen and are checking regularly under their cars for bombs placed by assassins (likely paid in privacy coins, ironically!)
Remittances Reimagined on Mobile
There are nearly five times more mobile phones than active bank accounts, yet people around the world are still lining up to send money from high-cost remittance agents like Western Union. Why waste time and money when you could be using what’s already in your pocket?
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. This is the core of our business, and mobile network operators will be at the center of our strategy.”Telcoin is the ﬁrst cryptocurrency to tap into synergies between the reach of mobile telecoms and the fast, borderless nature of blockchain technology. According to the World Bank, there are nearly ﬁve times as many mobile phones in the world (5 billion), as there are active bank accounts (1.2 billion). It’s a lot easier to access mobile phone services than banking services, and we aim 1to capitalize on that disparity.”We will initially oﬀer Telcoin to our mobile network partners, providing their customers with seamless access to the digital economy: online remittances, transfers, payments, and e-commerce. We will also provide the necessary marketing and product development resources to nurture the Telcoin ecosystem, in a joint eﬀort with our telecom partners.
from Introducing Telcoin section of the whitepaper