Anand Sundaresan Blocked Unblock Follow Following Apr 5, 2017 Virtual currencies are today a huge cause of stress and anxiety for consumers around the world. In an increasingly digital world, what is it that we actually hold on to and what can we truly rely upon? The possibilities of virtual currencies are mind-boggling. The result of what they are now, is a problem-we do not know what we actually own. It is with that in mind that Telcoin has been formed to alleviate this challenge. Telcoin aims to provide blockchain-based, cross-country communication, commerce, and transaction capabilities to mobile subscribers, regardless of which mobile operators their data is coming from. The Telcoin Foundation is a non-profit organization that is helping to transform a growing industry.
The decentralization of Telcoin
Telcoin’s mission is to establish a global, universal telecommunications ecosystem. While many different things can be connected via the internet, there are currently many holes in the global telecommunications industry. We need to remove these gaps, so we can connect more people to the internet, more easily and securely, in a fast and frictionless way. Telcoin is a blockchain-based distributed network that will facilitate the creation of thousands of different blockchain tokens and enable telecom operators to create new business models and compete in the open financial ecosystem. It will be a global, trust-less financial solution that will empower the telecoms industry by enabling telecommunication services and unique digital tokens (business cards).
How does Telcoin work?
The blockchain runs on the Ethereum virtual machine (EVM), thus, Telcoin works with both the standard Ethereum and Classic variants. Unlike Bitcoin, Telcoin is not based on a single public key encryption, as all transactions are publicly viewable by anyone in the network. Unlike Ethereum, Telcoin is backed by actual telecommunication operators. It enables end-users to send and receive cryptocurrency in one click. Telcoin is a fully tokenized form of value, as it is completely decentralized and operates under no one single authority. Cryptocurrency is only a means of exchange for the company (Telcoin) and to spend for consumers. Therefore, Telcoin is not used as a medium of exchange for business deals; however, it is a means of payment for telecom operators.
Why we created Telcoin
We all know the power of the Internet and how far it has penetrated into our daily lives. But, while the Internet has changed our lives forever, the digital revolution has only just begun, as the Internet of Things (IoT) will allow everyone in the world to control and manage their home, food, travel, health, education, amongst others things. With its practical application, Telcoin has the power to become one of the most successful tokens ever seen in history and one of the biggest game changers ever. Creating an open, global blockchain-based economy for Internet of Things (IoT), Telcoin will enable its users to transact and exchange value without intermediaries or banks. Toll-free digital payments via a single user interface.
What can Telcoin be used for?
style="margin-left: 1em; margin-right: 1em;">What can Telcoin be used for?Telecoms will use Telcoin as an additional payment method for customers and suppliers. It’s an immediate way to monetize and make sales without using the credit card and without exposing personal financial data. Anyone with a phone can get Telcoin for free. Buy one or many Telcoin using Ethereum. Those who want to hold more can sell them for dollars and other coins. Telcoin will then be managed through smart contracts by operators. The concept of “Free Banking” and “Free Trade” will be useful to the telco industry. Being able to accept a new payment method without spending time or money to set up a payment system. All Telcoin can be exchanged for Fiat money and any other currencies like Bitcoin. How does Telcoin differ from Bitcoin and Ethereum?