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$TEL: TELCOIN THREAD 05/21: LB649, PROJECT RIVENDELL, PARTNERSHIPS, REMITTANCE CORRIDORS AND MORE. NFA.
1.0-1.2: Introduction
2.0-2.1: LB649
3.0-3.5: V3/Project Rivendell
4.0-4.1: Partnerships
5.0-5.3: Remittance
6:0: Competitors
7:0-7:1: Exchanges
2.0-2.1: LB649
3.0-3.5: V3/Project Rivendell
4.0-4.1: Partnerships
5.0-5.3: Remittance
6:0: Competitors
7:0-7:1: Exchanges
1.0: Introduction - Telcoin looks to have a promising future ahead of itself by suddenly appearing on the cryptocurrency Top 100 radar. The following thread will save you time and research by detailing the ins and outs of the project as well as what we can expect in the future.
1.1: Introduction - Telcoin was founded in 2017 by Claude Eguienta and Paul Neuner. The idea early on was remittances, transfer and payment services with an edge to target millions of people with mobile phones but without bank accounts.
1.2: Introduction - Telcoin remained behind the scenes for the first few years but gained recognition in January 2021 as a new team led directly by Paul Neuner joined to lead the project and fulfil its vision.
2.0: LB649 - The Nebraska Financial Innovation Act (LB649) was written and introduced by Telcoin to become the first banking charter in the United States that allows local and global consumers to connect on DeFi platforms in a safe and convenient manner.
2.1: LB649 - The legislation was unanimously cleared by Committee three days ago, allowing progress to continue and strengthening the launch of V3: Project Rivendell.
3.0: V3 - The release of V3 will allow users to trade any crypto token directly with $TEL on the mobile app. Users will have the ability to send tokens, receive tokens, swap, earn and much more.
3.1: V3 - As the app introduces DeFi and financial products to its consumers through a simplified user friendly trading platform, we can expect a huge increase in trading volume for the Telcoin crypto token $TEL.
3.2: V3 - Stable-coins. Telcoin will issue out their own stable-coins with the letter "e" before the ticker. Such examples: eUSD, eJPY, eGBP, eEUR and more can be seen through this link: https://rinkeby.etherscan.io/address/0xbc2c33441d087Ed4521e27866710b69c12ab4ee7#tokentxns
3.3: V3 - On the app, fiat currency will be converted into these stable-coins to trade for $TEL and other tokens. When the trade is complete, the stable-coins used will be burnt. Once the crypto tokens are transferred back into a stable-coin and then into fiat, it is burnt again.
The reason for using stable-coins as a "middle entity" between fiat and crypto is to avoid $TEL's price fluctuations affecting senders/receivers. So hypothetically, if I send you $10 worth of $TEL, you will receive exactly $10 regardless of the price of $TEL.
3.4: V3 - How will transactions work? Will the gas fees be expensive? No. It is assumed $TEL will use the Matic Network for transactions. The gas fees are extremely cheap and transaction time is less than a few seconds.
3.5: V3 - Although dates are not yet confirmed, it is assumed that V3 will be launched at the end of June in 2021.
4:0: Partnerships - Telcoin has partnered with many top organisations in FinTech, e-Wallets, Electronic Payments and E-Commerce. For example: GCash has over 20 million registered users and over 63,000 partner merchants in the Phillipines.
4.1: Partnerships - TouchPay
4:2: Partnerships - It is guessed that at some point Telcoin will partner with MasterCard to allow merchants to accept cryptocurrency. Although this is not confirmed at the moment, a partnership like this can place Telcoin at the forefront of cryptos with real world usage.
5:0: Remittance - This is a transfer of money by a foreign worker, family member, friend or individual with ties to another country. A wide usage of remittance is money sent back to home countries by migrants for income support, as a gift and charity.
5:1: Remittance - Mexico!
Telcoin has partnered with Unipagos to open a remittance corridor between the US and Mexico - the biggest remittance corridor in the world. Why is this big? Over 1.6 million Mexican households rely on income from the US. Corridor value: $36bn in 2019.
Telcoin has partnered with Unipagos to open a remittance corridor between the US and Mexico - the biggest remittance corridor in the world. Why is this big? Over 1.6 million Mexican households rely on income from the US. Corridor value: $36bn in 2019.
5:2: Remittance - Nepal & Tanzania
Recently, Telcoin completed remittance agreements with the two largest mobile money platforms in Nepal and Tanzania. Nepal in particular will give Telcoin access to 2 million subscribers, 25,000 merchants and 50 bank partners.
Recently, Telcoin completed remittance agreements with the two largest mobile money platforms in Nepal and Tanzania. Nepal in particular will give Telcoin access to 2 million subscribers, 25,000 merchants and 50 bank partners.
5:3: Remittance - Telcoin is now set to open three more corridors in three continents. These corridors include the United States, Australia and Singapore. https://www.abcmoney.co.uk/2021/05/06/telcoin-to-open-new-remittance-corridors-on-three-continents/
6:0: Competitors - According to AlliedMarketResearch, the global remittance market size was valued at $682bn in 2018. Telcoins top competitors include: MoneyGram, TransferWise, Western Union and XOOM.
6:1: Competitors - What makes Telcoin different? The global average cost of sending a remittance is over 7%. Telcoin aim to set an average total cost of less than 2%. By undercutting their competition, Telcoin can be sure of one thing... attracting customers!
7:0: Exchanges - Telcoin is yet to be listed on the Top 4 Cryptocurrency exchanges: Binance, Huobi, Coinbase and Kraken. Although the team are not prioritising exchange listings, volume will entice them to list $TEL.
Feel free to share your opinion on $TEL. Thank you for reading my thread.
