An Overview of Telcoin & Seven Reasons Why I am Bullish on TEL
In today’s world, telecommunication is available almost everywhere. Now that cryptocurrencies are becoming more regulated and thus becoming widely accepted as having legitimate value in more locations globally, there are people with desires to become cryptocurrency investors who are having trouble gaining access to blockchain technology. Some of these people live in locations where they do not have access to a bank, yet they have access to a mobile service provider. Working with mobile service providers and based on the Etherium blockchain, Telcoin (TEL) is planning to bring blockchain technology closer to everyone, even the hard to reach. Telcoin’s website reads “Financial inclusion for a mobile world. A cryptocurrency distributed by your mobile operator and accepted everywhere.” Blockchain technology is spreading across the globe and inspiring a revolution. In order for this revolution to succeed, we need blockchain technologies to be accessible to everyone interested, regardless of technological boundaries. I think Telcoin is in a perfect position to assist the expansion of accessibility to blockchain technology.
Telcoin aims not to compete with telecom money, but to “…cooperatively participate in the overall mobile money ecosystem,” as it is written in their whitepaper. Telcoin’s whitepaper also states, “According to the world bank, there are 5 times as many mobile phones in the world (5 billion), as there are bank accounts (1.2 billion).” It is easy to see that Telcoin plans to be a leader of financial inclusion in the 21st century and they are off to a great start.
Only 4 months old, Telcoin’s initial coin offering took place in December 2017 and successfully reached the hard cap of 25,000,000 USD. Trading TEL began mid-January 2018. According to Coin Market Cap, currently there is a total supply of 100,000,000,000 TEL, with a circulating supply of just above 28,800,000 TEL and market cap of over 52,000,000 USD. When released, 1 TEL was valued at 0.0013 USD, and it is (at the time of writing this) currently valued at 0.0018 USD, resulting in a 1.44x return in value in USD since ICO. With that said, I will leave further technical analysis to the experts and focus my strength, which is functional analysis.
I believe Telcoin has an upper hand in the crypto community for many reasons. First, Telcoin’s plans to work with existing mobile networks will aid in the efficiency of trusting and knowing the customer (KYC is a hot topic in crypto right now), and overall market reach will expand dramatically. Second, the team has recently moved it’s location from South Africa to Hong Kong, which appears to be a reaction to a need or desire to be in close proximity to a much larger technology and cryptocurrency community. I think their choice to move displays a high level of ambition for success and should accelerate Telcoin’s technical development as well as dramatically increase their networking capabilities. Third, the CEO and co-founder Claude Eguienta is very active in the crypto community. Eguienta is a vibrant, young entrepreneur who travels regularly to promote Telcoin worldwide, most recently speaking at the Japan Tech Summit 2018. Fourth, Telcoin has been expanding and hiring reputable new team members, such as Mayo Hitomi, who recently joined the Business Development department. Fifth, they have a wallet release coming soon and with this are proving themselves capable of following the roadmap and advancing technological development. (To note, technological development advancements, such as wallet releases for less known cryptocurrencies, tend to spike interest in potential new investors.) Sixth, amongst the vast amount of ICO scams and failures last year, Telcoin remains as one of the few successful ICOs launched in 2017. And seventh, Telcoin recently announced that they have partnered with Wipro Limited, which is an Indian Information Technology Services corporation formed in 1945 which provides services worldwide. Wipro recorded a net income of 1.3 billion USD in 2017 and has over 166,000 employees and over 375,000 Twitter followers.
Now, I’d like to share with you why I think the seventh reason is extremely juicy at this time… Wipro has not announced their partnership with Telcoin yet! The lag of this announcement has caused some people to doubt Telcoin. In my opinion, this doubt has created an opportunity to buy Telcoin while the price is low (currently kicking at the 23 satoshi sell wall). I believe Wipro is strategically planning when exactly to make the announcement of their new partnership with Telcoin. Telcoin, unfortunately does not yet have the credibility that other cryptocurrencies have built, such as Wanchain (WAN), which Wipro recently tweeted about! (Yes, Wipro recently hyped Wanchain.) Wipro has also recently tweeted about Telcos and Oracle Africa. These tweets from Wipro certainly gained my attention because Telcoin has shared that their first targeted market is Telecom in Africa. I don’t think this is a coincidence. If we look at all these facts together, I think Wipro has a valuable plan. This is obviously my opinion and I encourage you to do your own research before investing.
Will the news of this partnership between Wipro and Telcoin boost the price of TEL when announced by Wipro? As of now, Wipro is the only announced parter of Telcoin. Will more partnership announcements from Telcoin follow? How much will TEL be worth in 1 year? How much will Tel be worth in 2 years? 5 years? I am happily waiting for the answers to be revealed… because, as the growing in popularity saying goes: Only time, will TEL.
A Final Thought:
Imagine that you live somewhere on the planet where you are unable to have a bank account, but you want to invest or save some of your hard earned money. Next, imagine that even though you don’t have access to a bank, you do have access to a mobile operator and you have a cell phone. Now, imagine that you could purchase a cryptocurrency through your mobile operator… This is a unique real world application to consider when thinking about Telcoin and it’s value.
Thanks for reading!
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