Telcoin (TEL) is a cryptocurrency designed to cash in on mobile phone services.
To explain, Telcoin is a decentralized utility token that serves as “the underlying medium of exchange and unit of account between users of the Telcoin Platform.” The Telcoin Platform is a user-owned financial platform that serves Tecloin users, Global System for Mobile Communications Association (GSMA) member mobile network operators and Mobile Money Service Providers.
Smartphone users use TEL to pay for Telcom products and services. For example, Telcom customers could use Telcoin to pay for apps or games in an app store. In addition, those customers could pay for play on mobile games.
What is Telcoin?
Moreover, smartphone users could use Telcoin (TEL) to pay their phone bills. Additionally, a Telcom customer could buy a new phone or phone accessories with TEL.
Interestingly, Telcoin can serve as the Telx reserve asset. The Telx will provide liquidity on the Telcoin Platform. Liquidity means that Telx gives Telcoin spending power.
In addition, Tecloin could serve as an SMS (short-messaging service) currency. An SMS currency allows people to send money through messaging services such as WhatsApp, Telegram, and Twitter. An SMS currency could enable the use of Telcoin for remittances and peer-to-peer (P2P) payments.
Can Telcoin cash in on P2P and remittances?
P2P could be an enormous market Allied Market Research estimates the global P2P lending market could grow to $558.91 billion by 2027. Allied Market Research estimated the value of worldwide P2P lending at $67.93 billion in 2019.
Similarly, ResearchandMarkets.com estimates the value of the global remittance market at $682.6 billion in 2018. The global remittances market could grow to $930.44 billion by 2026, ResearchandMarkets.com projects.
Remittances are cash people wire to friends and relatives in other countries. For instance, money a Guatemalan truck driver working in Chicago sends to his mother back home in Guatemala.
The hope at organizations such as Telcoin is that people could one day use an SMS messenger to send money to friends and relatives’ phones. In addition, could use an SMS messenger and Telcoin to borrow a P2P lender in another country.
Telcoin could enable SMS and P2P transactions by serving as a bridge currency between stablecoins and other applications. A bridge currency enables transactions between apps.
For instance, Telcoin (TEL) could allow a person to send funds from stablecoins such as Tether (USDT) to people in other nations. Moreover, Telcoin could enable people to send USDT funds to a relative in Bolivia through P2P or SMS.
Telcoin (TEL) could serve an enormous market
Theoretically, Telcoin (TEL) could serve an enormous market. Statista estimates there were 6.378 billion mobile phone subscriptions worldwide in 2021. That number could grow to 6.648 billion in 2022 and 7.516 billion in 2026.
Conversely, Statista estimates there were 6.95 billion mobile phone users worldwide in 2020. That number could grow to 7.1 billion in 2021, 7.26 billion in 2022, and 7.49 billion in 2025.
In theory, Telcoin could have 7.1 billion users worldwide. Moreover, Telcoin could tap a $1.565 trillion market. Statista estimates 2021 global telcom spending at $1.565 trillion. Statista forecasts that number will grow to $1.575 trillion in 2022, $1.59 trillion in 2023, and $1.595 trillion in 2025.
What is Telcoin’s value?
Mr. Market thinks Telcoin (TEL) has some value. CoinMarketCap gave Telcoin a 1.819₵ Coin Price, a $1.015 billion Market Capitalization, a Fully Dilluted Market Cap of $1.876billion, and a 24-Hour Market Volume of $45.56 million. They base those numbers on 54.168 billion Circulating Supply TEL and a Total Supply of 100 billion TEL.
Telcoin was CoinMarketCap’s 71st most valuable cryptocurrency on 23 July 2021. In addition, CoinMarketCap estimates Telcoin was the 9th most trending cryptocurrency on 21 July 2021.
I think Telcoin could become a valuable cryptocurrency because it could serve an enormous market. I believe mobile phone users are the world’s largest market.
Telcoin is a great idea for a Cryptocurrency
In fact, the number of people with mobile phones worldwide exceeds the number of people electricity. To elaborate, Our World in Data estimates 6.5 people worldwide had electricity in 2016. In comparison, Statista estimates there were 7.1 billion mobile phone users worldwide in 2021.
Theoretically, Telcoin (TEL) is a cryptocurrency that most of the world’s population could use. Unfortunately, there is no evidence that anybody is using Telcoin as an SMS currency, a bridge currency, or to pay for phone service.
Thus, Telcoin is a great idea for a cryptocurrency, not a functional cryptocurrency. I advise investors and speculators to avoid that idea until they show it is workable.
Originally published at https://marketmadhouse.com on July 23, 2021
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