Telcoin, a French Accelerator startup that is based in Tokyo, is planning to launch an Initial Coin Offering (ICO) on December 11th. Co-founded by Claude Eguienta and Paul Neuner, Telcoin has created a cryptocurrency that expects to be distributed by mobile operators and accepted everywhere. This ICO has an interesting advisory team and looks well prepared to address a challenging issue that is well suited for a Blockchain based solution.
Telcoin is a Ethereum based cryptocurrency with a goal of providing everyone, everywhere with a mobile payment solution through mobile operators. This is regardless as to whether or not users have a bank account and thus may provide an interesting solution for the millions of underbanked people around the world. According to the World Bank, more people have a mobile device than a bank – so why not turn the mobile into a streamlined, blockchain based bank account?
While there are plenty of use cases for a mobile crypto, Telcoin says it will initially focus on tapping into the US $500 billion remittance market as the “low-hanging fruit.” You can read all about it in their white paper here.
Even more importantly, Telcoin reports it has already enrolled major telecom operators representing more than 350 millions users worldwide. That’s a big number that is certain to capture the attention of other global mobile providers. The Telcoin pre-sale ICO raised $11 million, at last report.
The Telcoin supply will be composed of 100 billion tokens, but only 25% of the total supply will be distributed during the ICO. Of this 25%, 22% will be available for investors to invest in, and 3% will be allocated to the bonus pool in the pre-ICO. Telcoin has an operational budget of $25 million get the company up and running in the first 36 months.
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