Telcoin is a newly developedcryptocurrency, based on the Ethereum’s blockchain. It has same advantages as any other existing cryptocurrency in compare with traditionalpayment providers. Mostly, team of the project relies on low fees and throughout whole website they trying to promote this advantage as a main bonus of their currency. It looks not professional and I think they’ve got lack of understanding in terms of future implementation of their product. Here is some basic details regarding their ICO:
Telcoin aimed to the telecom industry with its widest adoption and access. Through it, project’s CEO wants to reach maximum number of his potential customers, but he also declared that it could be huge and even insurmountable problem for the project. To understand actual size of the problem, 10 pages of whitepaper had been written only with challenges for the project.
They want to be a “cornerstone” in terms of finance of 21st century. It sound pretty ambitious, doesn’t it? How do they want to become this cornerstone, especially if we already have such great projects like Bitcoin and Ethereum? The main question is: “Why will operators partner with Telcoin and not just use bitcoin and ethereum?”. In their whitepaper, I didn’t found exact answer for this question.
Few words about Telcoin strategy for collaboration with telecom operators:
As you can see, they’ve got Proof-of-Concept trial agreement and that is only one, mentioned, incentive for telecom operators. What else, looks strange?Telcoin is going to create cryptocurrency without even separate blockchain but aimed to partner with telecom operators e.g. have millions of Telcoin’s adopters. What will they do in case if ethereum’s network will be overloaded and their customers will face difficulties with sending their telcoins to each other?
Here I can write a lot of text, but most of you know what is going on in core of cryptocurrenciesmarket. There’re 2 major currencies which were designed to provide people with affordable and secure transactions. It’s Bitcoin and Ethereum. Additionally, other giants are exists on the market: DASH, RIPPLE, LITECOIN, MONERO and so on. Millions of people are already familliar with this names and their functionality. Telcoin is not providing people with something new, so there is no actual reason for an average user, to use Telcoin. Until project’s team won’t develop clear advantages of their project they’ll fail.
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Provided review can be used only for informational purposes. All what I’ve mentioned above is only my opinion. This review is not an advice or recommendation. You’re totally on your own when decide whether to invest or not.