KNOWING ABOUT ELECTRONEUM(ETN)
Financial technology and digital financial services are revolutionizing the way customers access and use financial services, opening the way for banks, insurance companies, payment companies and other financial institutions to serve millions of underserved customers. Yet globally, there are still 2 billion people who are “unbanked,” and at least 1 billion more who have an account, but use it only rarely or not at all. Financial institutions face a variety of hurdles they must overcome to achieve the long-term business viability and sustainability needed to expand and deepen their reach within this vast customer segment.
Although there has been major progress with financial inclusion in the last 5 years, with a substantial reduction in the unbanked population, from 2.2bn to 1.7bn, the reality is that blockchain has not yet played a major role, it has been the result of some smart Fintech; such as mPESA and WeChat.
Mobile money services have proven to be an effective gateway for financial inclusion among the unbanked, a demographic that could evolve into a US $3trillion payments volume opportunity
What part is cryptocurrency set to play?
Cryptocurrency could play a large role in financial inclusion (bringing financial services to the poor), maybe more so than all microfinance institutions together.
Cryptocurrencies can bring a paradigm shift for the unbanked and bring forth a lot of technological, political and economic change.
But no-one is really doing it. Less than 1% of the world have a crypto wallet, so Crypto still doesn’t touch our daily lives.
When I first became involved with Electroneum, the ethos and vision already made a lot of sense.
Now that the business has transcended the traditional cryptocurrency landscape, and is driving mass adoption of ETN as a mainstream digital currency with a focus on enablement, it is leading from the front.
ETN: An Enablement Currency
Driving mainstream integration is our most important objective. So we found a way to evolve and develop capabilities beyond the norm.
The result is that ETN engages, educates and blends cryptocurrency into everyday life, creating comfort and familiarity amongst mass market users via a simple smartphone app.
KEY USER FOCUS: Liquidity | Community | Usability
Liquidity
We have created an intuitive ecosystem connecting supplier to customer and mobile operator to end user.
We reward users for their engagement and advocacy by giving them $2- $3 every month.
This is funded from our unique adaptation of the traditional crypto mining model which makes cost savings that we use to fund the rewards.
Partners also receive ongoing revenue in tandem with rewards earned by users.
Community
Millennial Entrepreneurs: The next generation of industrious young adults coming from developing economies.
Agents: These are the point of sale to many people in developing countries, the main reason the likes of mPesa have been successful.
Mobile Operators: The closest entity resembling a financial services provider that most developing nations encounter
Fintechs: Bringing benefits at ground level with more revenue generated for microfinance, loans etc.
Usability
Instant payment capabilities; patent pending.
Enabling access for the Gig Economy to benefit from the vast resources of Western economies.
ETN has created a powerful catalyst for mass adoption and loyalty
In short, we reward users for their engagement and advocacy, by giving away free ETN currency, helping them earn regular monthly income.
For low income families in developing territories, this has the potential to improve lives.
In developed nations, a $3 reward could count towards bill payments or drive new charitable giving.
Regardless, free currency rewards for everyone brings something good, making things a little bit better every day.
ETN’s foundational communities of entrepreneurial and corporate partners, all join together to create and amplify a sustainable ecosystem.
The family of products and partners we’ve brought together to create this ecosystem, are intended to make a meaningful contribution to the territories we choose to launch in, and we’re driving our core capabilities of building communities, creating ongoing liquidity and driving usability, to make our model stand out alone in the marketplace.
Mobile Operator Partnerships
Our mobile operator promotion partners are at the hub of the community, supported by ETN’s sustained engagement with a growing family of Millennial Entrepreneurs.
Promotion partners drive the community to engage with Electroneum and benefit from direct revenue and savings.
Accepting ETN as a digital currency, enabling transactions, can dramatically reduce vendors fees over cash, credit cards or other mobile payment methods.
The more we drive user growth, the more revenue is generated.
In return for new revenues and increased acquisition, we expect our partners to promote ETN to their existing users, and encourage mass adoption by accepting ETN for goods and services.
We’re engaging with Millennial Entrepreneurs.
This approach helps to drive usage of crypto across developing markets, where, these next generation of industrious young adults from developing economies are motivated and driven to , they are looking to hurdle the inherited poverty their families have endured and are hungry for the change that technology can provide in the developing world.
ETN is a solution they can trust because they’ll feel that they can be part of it and introduce their peers.
ELECTRONEUM FITS
Everything we do revolves around the ETN mobile app, which will deliver all our services, to all participants, using our mobile app platform. Currently in the throes of a phased rollout, the core elements of this are:
Reward and benefits: Free ETN payments enable users to try without risk and create viral growth.
A positive user experience: to ensure we amplify the reward benefit, we provide an in-app user experience which is enjoyable, fun and fresh.
Community focus: Our community will be our brand catalyst moving forward as we socialise everything we do; staying involved throughout the process.
Utility: Demonstrates improving, evolving intelligence, offering greater utility and everyday benefits for end users by giving them their first digital payment solution.
Payment: The app will be central to making payments in the real world, and as the end user gets more familiar paying with ETN, they will ask if they can “ETN IT”
Wallet: Manage all transactions via the ETN Wallet, where all mined, earned and transferred ETN is stored. A super secure wallet is available too.
These all add up to quite a leap forward in the market, but there are a few other elements to ETN that may stand out for you. If you’re a fan of crypto-progressive details, it may be interesting to consider how we compare to everyone else:
Unlocking Digital Markets We are connecting developed and undeveloped economies and delivering mutual benefits for everyone; all serviced via the ETN mobile app, which also engages users and partners alike and rewards them for generating usage with free cryptocurrency.
Break the habit We can provide viable proof that cryptocurrency can provide a viable, meaningful alternative to local FIAT ($£€) currency.
Regulation ETN is driving regulation in Gibraltar to address concerns over safety and give comfort around good practise and security.
Drive usage We remove complexities and deliver an easy, rewarding experience
Humanisation Build mainstream appeal by delivering meaningful, everyday opportunities to actually use crypto as a payment method via our very varied scope of partners, current and potential.
Improve Network Effect Create a collaborative ecosystem that delivers benefits and engagement for all.
Instant Payments We have a patent pending for users and vendors alike to pay instantly, removing the, current, long wait for a completed transaction.
In our first 6 months:
Essentially we want to make it simple and easy for anyone to learn, earn and use every day.
So we’re doing it.
ETN The Mobile Enablement Currency