The Community Speaks segment is written by select members of cryptocurrency coin or token project communities who want to update the Altcoin Buzz Army about news surrounding the project they represent. The goal of the Community Speaks Segment is to bring these community members in to introduce the Altcoin Buzz Army to their opinions surrounding their respective projects and keep them updated on its progress.

Written by: Paal Aune

Electroneum is a British based company that has combined Fintech mobile payments and blockchain technology to create an extremely easy to use mobile payment solution with the potential to rival Paypal.

With mass adoption in mind, Electroneum has been creating an ecosystem that feels instantly familiar to people through echoing what they are used to, such as using only 2 decimal points on the cryptocurrency like FIAT, instant payment at checkout and quality customer support services available to Elecroneum’s user base.

Both the mobile fintech payments industry and cryptocurrencies are fast growing and emerging markets. Electroneum is in a strategic position to take advantage of both booming industries, combining the two to create mobile payments 2.0.  Electroneum’s goal is mass adoption with a viable plan and a released product ready to market. Crucially, whilst most others crypto projects are focused on the 1% of people already involved in crypto, Electroneum is focused on the 99% of people that are not.

As a currency, Electroneum can be used anywhere in the world for payment, but the team is specifically focusing on the over 1 billion unbanked people of the world. The aim is to enable the unbanked to partake in the world economy not only by allowing them to transact via digital crypto payments but also as actively players in a global GIG economy. To begin with the unbanked can use the Electroneum’s mobile miner app which allows them to cloud mine Electroneum from their phones. This mining is simulated mining that is like a faucet / reward system that drops ETN into the user’s wallets by just having the app running in the background on their mobile phones. But Electroneum is also launching their own GIG platform (like Fiverr) to allows people in the western world to hire the unbanked; thus enabling them to partake in the world economy and earn additional income in ETN.

Electroneum has also partnered with numerous mobile carriers. These mobile carriers will allow their customers to pay for mobile minutes and data with the ETN they earn via the miner or GIG website.

Furthermore, Electroneum has recently launched their Instant Payment System (IPS) and API for easy vendor integration. As the name suggests, it really is instant, and in most cases, the system is faster than Visa / Mastercard. Since the release of the Electroneum API system, many excited community members have shared their successful implementation of the IPS into their merchant payment gateways and have demonstrated their success in videos on social media. This has created a positive buzz and demand of vendors who are eager to start implementing the Instant Payment System into their websites and POS terminals. An impressing number of 1000 companies has already registered to be involved.

Electroneum’s IPS system can easily be integrated into any ecommerce website; and if you are using WooCommerce or Magento, you can be up and running in 20 mins or less now that the relevant plugins have been created for these platforms.
If Electroneum in addition to all of this got a FIAT bridge for the vendors, it would engage the vendors at a whole new level and enable them to adapt even easier to the market as it grows.

Finally, Electroneum has soft launched KYC / AML (Know Your Customer / Anti Money Laundering) regulations to all of their users with a mandatory launch date of November 12th. KYC/AML is a big deal, because it enables regulation on the project and its users as well as enabling deals with corporate partnerships who stalled by their lawyers earlier in the year with regard to moving forward their partnerships with Electroneum. As Richard Ells, CEO of ETN recently announced, now the KYC/AML is implemented, Electroneum will shortly be announcing some major new partnerships and begin their marketing campaigns in the month of October.

Keep an eye on this project as it starts to make a splash in cryptocurrency world.

This article was brought to you by a member of our Community Speaks team. The Community Speaks team is made up of members of different project communities who want to make their voice heard in the Altcoin Buzz community. If you are interested in becoming part of our Community Speaks team please contact @Garrett59 on telegram.

 

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