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We got some requests (not paid, we haven’t done any paid writings ever) from the community to write about this new up and coming crypto social media network. We dove in have hope you get a good overview of Howdoo and their token UDOO.

Introduction

Believe it or not, every other time you browse, sign up or login to social media you are unknowingly generating data. These data are usually bundled and either sold to a marketer, or used to improve the platform’s pro-profit systems. It’s the age of micro-targeting and some social media platforms are churning billions out of your activity.

Social Media Statistics

From your data, from your clicks and from your chats or posts, you name, all of them are remotely recorded somewhere and processed. This is creepy but fantastically lucrative on the other side of the camp.

But how many are plugged? Well, first, there were 7.7 billion people on earth by May 2019.

Out of that 4.4 billion had access to the internet and a whopping 3.59 billion were active social media users, a majority of them being teenagers.

Over 80 percent of them are satisfied, believing that social media has positively impacted their lives.

The research further revealed than an individual spent on average 142 minutes a day on social media generating data that is instead fed to leading retail brands.

What is Howdoo (µDoo)?

However, this is changing because of Howdoo specifically built to align to the demands of the media landscape, unmet by social media behemoths.

Howdoo is a revolutionary instant messaging and a blockchain-based social media platform that is giving control back to users while concurrently solving scaling troubles as well as dApp development.

Creators describe it as a new way of doing things. The platform is fluid and users are in charge of their data. Howdoo can be said to be the 21st appeal. Control means privacy, and privacy is an alienable human right clearly spelt in the constitution.

At Howdoo, it doesn’t matter who you are. A content generator or a viewer will still earn. That’s thanks to blockchain. Through the Ethereum blockchain, Howdoo’s concept has attracted leading Youtubers and users alike.

Howdoo combines all the exciting features of current social media platforms and blending them all with a new but radical approach to content monetization and creation.

Howdoo (µDoo) is giving back Control to Users

Most importantly, content or user decides how and who to share his/her data with. That means control and privacy, which has been repeatedly violated by leading social media platforms struggling with scandals and fined heavily.

Users have access to a special and fair monetization model, including tipping in the platform’s native toke, µDoo, retaining 100 percent of the share. A user’s data, in a sense, is under his/her control. It becomes his/her business and there is no way that can be lost to a third-party platform that can ban, freeze or charge a huge commission on rightful earnings.

Also, users will receive attention-based tokens earning passive income just from watching videos. Rates are based on social stacks which are ratings based on the number of completed actions.

It could be from watching specific videos, liking or sharing content and more. The purpose of social stacks is to encourage platform engagement. What’s attractive is that Howdoo is feature rich, allowing users to stream videos through PiP and more.

Interestingly, users can create paywalls on their content or even set up subscriptions for content or realign their model to generate income from shares or like as control is totally decentralized.

Overly, Howdoo is an ecosystem where creators, advertisers, ordinary users, vendors and developers have a symbiotic co-existence.

The Team

Howdoo is registered in the Cayman Islands, but the team is predominantly international with representatives from the UK, the US, India and Australia.

The team is led by David Brierley, the founder, and Chief Initiator.

Others are:

  1. Neil Harper, the Chief Storyteller
  2. Mark Perring, the Chief Engagement Officer
  3. Tony Loan, the Head of Innovation
  4. James Farlowe, the Director of Research and Development.
  5. Nakul Shah, the Senior Technical Architect
  6. Beth Lawton, the Developer

Advisors include:

  1. Brett King, a Futurist and an award-winning speaker
  2. Paul Mears, an Entrepreneur and an Innovation Investor
  3. Jordan Fantaay, a Technology Entrepreneur
  4. Andy Hones, the founder of JumpXL
  5. Ian Gilmor, the International Risk and Payments Advisor

Roadmap

Howdoo development has been steady since the idea was conceived in Dec 2017. With the Private Alpha release of V1.1 PAX Aurora for Android, through to the announcement of their token sale in Mar 9, 2018, the team has developed their regional data centers, a multi-currency wallet with multilingual support and launched an ad auction engine.

Notable Partners

In recent days, the team received encouraging support from the likes of Visa Card, IBM and Huawei.

In their deal with IBM, Howdoo will use IBM Watson’s Personality Insights as Howdoo build a marketing strategy and better understand their customers. Commentators are positive that their partnership with Huawei will see Howdoo infiltrate the tightly controlled Chinese market and even link their wallet with AliPay or TenCent, a move which will be massive for their token.

Because of Visa, Howdoo users are eligible to apply for a Visa Card from where they would easily spend their tokens.

Other partners include Creation Agency, who will supply next gen social media marketing, and Applicature who applauded the team saying they are “goal-oriented people”.

What is Howdoo (µDoo) Tokenomics and ICO Details

The Ethereum-based project integrates two consensus models: Proof-of-Contribution and Proof-of-Trust consensus model. Its native utility token, µDoo, is an ERC-20 compliant token that will be used for settling all payments, tips, and rewards. 

The token will be a vehicle for transferring value within the ecosystem. Specifically, the team decided to infuse this token to their operation as it gives them an edge, incentivizing participation.

The token has monetary value and can be exchanged for other coins as BTC.

The token will:

  1. Be a currency for advertisement in the Howdoo platform
  2. Be used for rewarding in advert rebates and network operators. Depending on their Proof-of-Trust score, Howdoo will distribute 60 percent of their revenue to Network Operators via a smart contract. The remainder, 40 percent, will be used to meet operational costs.
  3. Be needed for participation in the AdAuction platform
  4. Be used by users of High PoC to set engagement fees in their professional introductions.

In total, there will be a fixed supply of 889 million µDoos. Each µDoo can be split in decimals more like BTC or ETH.

Presently, there are 271 million tokens in circulation, generating a market cap of $841,273 from an average daily trading volume of $1,073,895 as it changes hands at $0.008580 .

Howdoo (µDoo) Token Distribution

The 889 million tokens were divided as follows:

  • 35 percent for the Howdoo Incentive Scheme
  • 21.5 percent for public investment
  • 20 percent to the team-this was vested
  • 20 percent to the Treasury token
  • 3.5 percent for a Bounty program

Because its Pre-ICO price was fixed at $0.08 while its ICO price was $0.0689 and ended on July 12, 2018, raising $8.6 million. During that time, BTC and ETH were also accepted, and contributors had to identify themselves because of KYC.  

Short term Price Catalyst

  • The iOS and Android apps have launched. Mores users are expected after this and so does demand for the token.
  • Howdoo is gaining the requirement momentum and is a source of discussion in the media. In recent times, there are mentions at INC, Forbes and other leading publications.
  • Howdoo is attracting talent. The latest to be the project’s advisor is Michael Chen, an established advisor in blockchain. He is the CMO at Fantom, the founder of Envoke Marketing and PR, and advised the development of OKEx xFutures and more.

Long term Value Catalyst

  • More celebrities and media influencers are signing up and using the social media platform. Given their huge following and what they will receive, it is not hard to see why µDoo will be a limited, on-demand currency needed as these celebrities install paywalls and get tips from their fans in a platform that is secure, global and private. Some of them include: Tyannah Vasquez, Shay De Castro, Debay Miles, Sam Withers, the Martini Guy, and many more.
  • They have partnered with Huawei. Jason Sibley, the Chief Marketing Officer, says they are huge fans of Huawei devices and are holding “proactive conversation” on how to develop products that seam with Huawei’s ecosystem. Howdoo app is a feature app in Huawei AppGallery. Commentators believe that through this, they will at long last infiltrate the lucrative Chinese market and even build a bridge with Alipay or Tencent. If that happens, the value of µDoo is grossly undervalued. Note that Huawei, given President’s Trump ban, is not accessible in the US and some parts of Europe are also considering banning Huawei’s gadgets.
  • Another heavyweight involved in the project is IBM. By using IBM’s Watson, Howdoo will better understand their customer, profile them accordingly and generally improve their processes. But that’s not all, Howdoo is also exploring on using an AI Chat assistant, a service that will be accessible to Supernodes from 2020. On their end, IBM, being a launch partner will be “providing value through content, engagement and offers, and will also investigate how to utilize the platform to reach new potential customers.” Mitel is also Howdoo’s launch partner.
  • Because of fiat gateways-complete with a baked US regulated bank account-and their partnership with Visa, holders can spend their tokens from anywhere in the world. In reality, Howdoo provides the channel needed for crypto mass adoption. This service will launch in Q1 2020.

Done with Crypto Exchange Hassle and Hacks?
✨Trade simple and fast from your hardware wallet✨

Trade the best price across exchanges – no deposits, no accounts, audited and insured smart contracts

Done with Crypto Exchange Hassle and Hacks?
✨Trade simple and fast from your hardware wallet✨

Trade the best price across exchanges – no deposits, no accounts, audited and insured smart contracts

Introduction

There have been advancement in technology, and the world is indeed a better place. If anything, the world is now more interconnected than any other time in history. It is fluid, fast-paced and well, porous. Herein, I’m highlighting the new-age oil. I’m talking about data. From data, there has been sophistication. And the world is simply churning too much this that there has been concentration.

Data is the future, and Blockchain, as a technology, is not only making this transparent and leveling the field-depending on application, but securing this “gem” from nefarious elements. However, there is still room for more. Interoperability would enhance the ecosystem, pulling down compartmentalizing walls.

Presently, there is a data problem. Unless otherwise innovators come up with a protocol that creates an avenue for efficient use of data for machine learning purposes, there will be a technological lagoon,that will possibly stir degradation.

What is the Ocean Protocol?

Cognizant of the technical ailment, the Ocean Protocol is a decentralized data exchange that aims to unlock data with a “deterministic proofs on availability and integrity that serve as verifiable service agreements” in place. It is breaking down data silos, equalizing access to data for all.

Ocean Protocol Market Place

Operating from a time-tested Ethereum blockchain, there is now more incentive for data generators to share theirs because of an incentivizing model in place. There is also staking in place to “signal quality, reputation and ward against Sybil Attacks”.

Ocean Protocol Trustful Data Sharing

Seeking to open up the under-exploited trillion-dollar machine learning and AI ecosystem, the idea behind it is to drive relevance and quality with an objective of creating meaningful value from these large-and increasing, chunk of data while simultaneously breaking down the self-propagating cycle created by companies as Google and Facebook.

The aim of Ocean Protocol will be to drive the fourth industrial revolution-largely defined by access to actionable intelligence found at the depth of secured but accessible data crunched by iterative AI algorithms.

What Ocean Protocol Does

By strategically dipping their foot into the data market, Ocean protocol would open up the data space from a planetary level, democratize the space and eventually create a leveling source where companies-regardless of size or financial muscle, and individuals, can access data for machine learning purposes in a private, affordable and regulated manner.

Ocean Protocol Tokenized Service Layer

Ocean Protocol at its bare bones is a connection between Artificial Intelligence developers and data owners. However, instead of creating a single line source, everything is done via the blockchain in a democratized, secure and compliant manner without Gatekeepers.

Ocean Protocol Initiatives

To differentiate itself, Ocean Protocol are focusing on building an “exchange protocol” as this will strategically place them at a position where they can strike partnerships even in the face of competition.

With experience in the field, the team behind Ocean is now installing a protocol for tokenization and subsequent incentivization, rule setting and quality purposes making it easy for data owners/providers to free share quality aware that they will be compensated accordingly. Before that, these are some of their earlier initiatives:

  • COALAIP for intellectual property licensing.
  • IPDB that addresses scalability concerns. It is built on BigchainDB / IPDB technology.
  • BigchainDB is a unique high throughput database
  • Ascribe is an attribution and digital ownership platform

Team

Ocean protocol is supported by a Singaporean NGO that advocates proper data governance, openness and fosters the growth of the network while ensuring the network becomes decentralized with time.

The team is experienced in big data, blockchain, AI and data exchanges from their previous work experiences and from their business experiences. A majority are entrepreneurs, technologists and designers.

The core team has 40 members led by Bruce Pon. He is the Founder and CEO at BigchainDB, Founder of Ocean Protocol. From his LinkedIn profile he says, he was a Founder at Avantalion International Consulting between 2008 and 2013. Avantalion International Consulting mission is to build banks for the unbanked. They have helped build more than 18 banks and financial services companies across the globe in 12 years.

Ocean Protocol Team

Then there is Daryl Arnold, who describes himself as an entrepreneur experienced in data, marketing, technology and sustainability. He is the founder and the chairman of the Digital Commerce Intelligence (DCI). DCI provides digital commerce market performance data and insights to brands and retailers in South East Asia. This is achieved by using various digital data sources and a proprietary data analysis algorithm to estimate digital sales down to SKU level.

Ocean Protocol Team

Then there is Trent McConaghy, Don Gossen–the co-founder. Don has traveled the world “wrangling data.” He is a Data and Analytics expert with extensive global experience working on four different continents, my breadth of knowledge extends to every facet of the Data and Analytics landscape, from large scale Data Federation and Big Data projects to Digital Transformation and Advisory Services. He is currently the Executive Director of the Ocean Protocol. Before that he was the Head of Analytics and Big Data Practice at Everis UK.

Others include: Dimitri De Jonghe, Cristina Pon, Aitor Argomaniz, Irene Lopez De Vallejo, Paul Galwas and 30 more.

Advisors

In total, there are 35 advisors with “recognized expertise in AI, blockchain, big data, business and policy.” All of them were “carefully selected based on an alignment of values towards unlocking data and AI for society.”

Ocean Protocol Advisors

One of them is Meltem Demirors, the Chief Strategy Officer at CoinShares and Head of CS Treasury. Besides Ocean, she advises Future Commerce and was the Vice President of the Digital Currency Group from April 2015 to Feb 2018.

Dr. Carsten Stöcker, the CEO & Founder Spherity GmbH, is also part of the team. In his LinkedIn he describes himself as a “Technology Entrepreneur, Business and System Integration Professional with Expertise in 4th Industrial Revolution/Industry 4.0, IoT, Blockchain, Machine Learning, Cryptography, Automotive, Supply Chain, Renewable Energy, Self-sovereign Identity, Digital Twinning, Environmental and Social Impact.”

Ocean Protocol Advisors

Others mentioned include Prof. Dr. Sebastian Gajek, the co-founder and CTO of Weeve, Adam Drake, the CEO of Atazzo, Chris Ballinger the CEO & Founder MOBI and others as Franck Martins and Dr. Anastassia Lauterbach, the director of Dun & Bradstreet.

Roadmap

The Ocean Protocol Ocean Token seed distribution was created in Nov 2017.

Ocean Protocol Roadmap

In that time, they also created the Marketplace Framework. This was followed up whitepaper publishing in Feb 2018 and a pre-launch in March of the same year. Then, they activated community and built up the team, announced partnership with IBM Watson AI XPRIZE and launched an advisor and bounty program.

In Q3 2018, the introduced Plankton wherein Pleuston, a proof-of-concept data marketplace was launched, an Ocean Improvement Proposal introduced and the Spree test network created.

Ocean Protocol Roadmap

Thus far, the Pacific Network, Ocean’s PoA Mainnet, has been launched and there is even a Token Bridge between the Ethereum Mainnet and PoA network.

Ocean Protocol Roadmap

That’s on top of the Commons Marketplace update, powering of the Project Manta Ray, a data science workflow and on-boarding more partners and completing the development and documentation of Ocean network components.

Ocean Protocol Roadmap

Partnerships

In upcoming versions, Ocean plans to introduce Bounties on-chain, roll out a beta version of Compute to the Data on cloud providers, begin the registration of Compute Services and set the conditions, terms of service of their cryptographic proofs and many more.

Ocean Protocol Partners

To iterate on the underlying protocol, Ocean has partnerships with leading companies including Unilever, Rochi, Messari, DCI, Couger, Mobi, xPrize, Fitchain and more.

Ocean Token Distribution

Powering the Ocean’s protocol, and converting disparate data into actionable intelligence is the OCEAN ERC-20 compliant, utility token.

In total there are 1.41 billion OCEAN tokens. Within this ecosystem, the token is more like a crypto asset securing the network and incentivizing data providers. Employing the Proof-of-Service protocol, Ocean is a decentralization orchestration that will flourish as an inter-service network.

Because quality and provenance are paramount, Ocean employs three verification methods: human, software, and economic, with precautions to fully emit tokens when the network is completely permissionless, or within the first five years, or whichever comes first.

Ocean’s first round of crowd funding came to an end in Q1 2019. However, they didn’t reach their target after raising $1.85 million from more than 350 contributors on CoinList. The IEO ended on March 19, and each token sold for €0.22. In total there was 32 million OCEAN Tokens available for the public meaning the hard cap was placed at $8 million.

Details of the Bittrex International IEO

The second IEO at Bittrex International was scheduled for April 30, 2019 whereby 4 percent or 56.4 million OCEAN Tokens of the total supply was set aside for contributors. Each token was sold at $0.12 with an individual cap of $5,000 and BTC being the only accepted coin.

In this IEO, the network reward was reduced from 60 to 51 percent while increasing the token from Acquirors from 15-24 percent. The founding team was allocated 20 percent while the Foundation got 5 percent of the total supply.

Ocean Protocol Bittrex IEO

Besides, the circulating supply was reset to 314.1 million or 22.3 percent at the beginning of this IEO. Notably, and as dictated by the Ocean Token emission curve, the inflation of the token in the first year will be 63 percent since “Acquirors, the Foundation and the founding teams” would receive allotment of their tokens.

Ocean Protocol Inflation

Thereafter, beginning from Q3 2022, the majority of Ocean tokens will be from Network rewards which are programmatically set with a 10-year half-life. That means that it will be until mid-2031 before 50 percent of network rewards is emitted.

Ocean Protocol Token Allocation

Learning from their misjudgment, The Bittrex International IEO was an overwhelming success. Targeting $31.6 million, the team raised $30.650 which is 97 percent of their hard cap. The IEO ended on May 3, 2019 and on the same day listed at Bittrex. It opened at 0.3x in USD terms from the IEO price.

ROI and Market Data

Presently, the token is trading at $0.033174 at leading exchanges. At that rate, OCEAN is up 55, 54 and 33 percent against USD, BTC and ETH respectively in the last week from a market cap of $9,299,339 derived from a daily trading volume of $4,634,905 or 139,731,498 OCEAN.

Ocean Protocol Market Performance

There are 280,675,148 OCEAN tokens in circulation. It’s all-time high was registered on May 27, 2019 when prices peaked at $0.04733822. However, given the market condition and despite the bullish outlook, the token is down 32 percent from its ATH.

Ocean Protocol Market Performance

Besides, at spot prices, it is 0.27x against USD, 0.22x versus ETH and dismal at 0.15x relative to BTC compared to Bittrex’s international ICO pricing.

Short-Term Catalysts

Data, as aforementioned, is the new gold. And Ocean protocol is well positioned to streamline the industry by creating a platform where data providers and users can securely mingle, drawing mutual benefits from their association. With funds, Ocean protocol is active in their development.

The objective, as lined up in their homepage, will be to “unlock data for AI”, by breaking down existing silos and democratize data availability. As it is, Ocean token is under-valued if statistics is anything to go by.

Presently, it may be trading lower from their ICO listing price but fundamental factors point to a bright future. Note that by 2016, the world produced 16ZB of data, but a mere 1 percent of that was processed.

Now that they are funded and there is a well-defined roadmap in place, Ocean is right on track to explore big data, fast-track AI development by processing the 99 percent of untapped data and building a reliable market place where data can be shared thereby creating value for early adopters. 

By Q1 2020, for example, there will be a beta version of compute to the data on cloud providers with staking capabilities. Further, around that time, not only would they have registered new asset types but Ocean would have been listed by Binance DEX.

The final version, whose data will be announced later will have a balanced governance complete with transparent process for updating protocol that balances stakeholder needs.

Long-term Catalysts

Reiterating, big data, like blockchain, is still at infancy. There is a lot to be explored, developed and enhanced.

Add that to advances in machine learning and Artificial Intelligence plus the desire to make algorithm feeds trusted and reliable, it means Ocean, built by a team that is experienced and with entrepreneurial acumen is well-placed. The final version will be fully loaded and functional meeting the needs of every trader.

Although there might be concerns about the short-term events as release of vested tokens that will push inflation through the roof, it is the emission after 2022 that is bullish for long-term holders.

Given, it will also be an opportunity for them to buy Ocean at a discount and hold them knowing that the demand for the service-and therefore the token, will edger higher, as it becomes a key player in the AI-as a data market place.

Done with Crypto Exchange Hassle and Hacks?
✨Trade simple and fast from your hardware wallet✨

Trade the best price across exchanges – no deposits, no accounts, audited and insured smart contracts

Done with Crypto Exchange Hassle and Hacks?
✨Trade simple and fast from your hardware wallet✨

Trade the best price across exchanges – no deposits, no accounts, audited and insured smart contracts

Fact is, numbers don’t lie. Numbers are records and according to independent studies, internet penetration is a big contributor, alleviating people out of poverty. But it isn’t about food or basic needs as shelter or education.

Research reveals that when there is financial inclusion, people, more so, in developing countries, can progressively move towards prosperity, and away from the grip of poverty and misery. Where they have access to financial services, they can better “arrange” themselves, get cushions whenever there is an emergency and cater for their family needs or even start a business. Good news is, according to a report from the World Bank, 3.8 billion people had an account either from their local banks or through mobile service provider.

However, development and adoption levels varied depending mostly with internet penetration which also correlates with smart phone accessibility. At the same time, the gap between the rich and the poor, men and women and the educated and the uneducated remained the same. Evidently, Blockchain, as successful startups demonstrates, are efficient and cheap.

Ripple Inc for example is working with the Bill and Melinda Gates Foundation through Mojaloop towards financial inclusion. Because access to smart phones and internet penetration goes hand in hand, Telcoin is taking financial inclusion to the next level, bring crypto straight to people’s phone numbers made possible by their collaboration with Telecommunication companies across the globe.

What is Telcoin?

According to the project’s creators, Telcoin is all about sending money, not to agents but to individual’s phone numbers, and making payments in a smarter way by leveraging the benefits of the blockchain. Utilizing the Ethereum blockchain, sending funds or making payments in eCommerce stores using Telcoin is near instant and distinctively cheap from traditional facilitators as Western Union and others.

Generally, their goal is to facilitate financial inclusion via cheap remittance, payments, credit and several other services that can be offered via the blockchain. Towards achieving their goal of unbanking the world and contributing towards the ideal goal of total financial inclusion, Telcoin is actively partnering with Telecoms in areas where accessing traditional financial services is a challenge. With this partnership, not only will more people access financial services, make payments and generally benefit from blockchain but users can receive funds in crypto straight to their phone numbers.

Remittance, Payment and eCommerce

Although their target market is large and not limited to collaborating with Telecoms, they will predominantly focus on payments, eCommerce and remittance. Payments is pretty straight forward but as aforementioned, through the Telcoin network, they are free.

The only charges are those made during conversion to local fiat currency. Undoubtedly, free on-chain transactions with conversions done in collaboration with local telcos is massive for small business owners always searching for saving avenues.

As a user, Buza, attests:

” Fast, Secure, Low-cost transactions, send crypto via phone number, available on top exchanges and partnered with plenty of crypto friendly merchants. Its never been easier to use Telcoin!”

Sentiments equally shared by Robun Decker who said:

” Very secure, fast, and low cost fees to send money around the world no more 10%-19% fees and accessed from your mobile operator.”

On the remittance front, Telcoin will provide a fitting solution. To paint a picture of how this is important, India’s received upwards of $62 billion of remittance in 2016. In the financial year 2013/14, remittance to Nepal stood at $3.5 billion which is roughly 25 percent of the country’s GDP. Sending funds via Telcoin, given the efficiency and cost-saving aspects of the blockchain is therefore, highly welcomed by the diaspora.

Team

Making this possible is a dedicated team. Claude Eguienta is the CEO and Co-founder. He has a master’s degree in Computer Science and previously worked as lead systems architect at CyberAgent besides founding Kabotip. Paul Neuner is the Chairman and he has over 20 years working in the telecommunication space. Apart from Telcoin, he his the CEO of Mobius, a mobile telecom fraud management company.

Then there is Simo Kinnunen who is a a full-stack programmer and an expert in Rust computer program. Other team members include Eric Chung who is the Executive Director, Adam Kull, a Masters of Computer Science graduate at Sweden’s KTH Royal Institute of Technology, Naïm Boughazi, Yacine Farouk, Alix Zerd and Christopher Riza, a smart contracts and blockchain researcher.

Advising the team is Michimasa Naka who has more than 28 years experience working with banks, Toby Hoenischm, a specialist in Artificial Intelligence, Jeff Quigley, Rajesh Sabari, the Head of Partnerships at MasterCard, Chris Suh working at the Royal Bank of Canada and Goldman Sachs and Batara Eto.

Partners

Telcoin transactions are affordable, near instantaneous and powerful yet convenient thanks to their collaboration with telecommunication providers. Besides, there is an incentivization model for service providers where volumes and fees are considered without affecting the profitability of these connectors.

At the time of writing, the Telcoin team are working hard, building a repertoire of partners. Because of the conversion from TEL, the ERC-20 token of the Telcoin network, to fiat, a majority are exchanges. They include HitBTC, Latoken, KuCoin,Changelly and CoinGate. Others include BRD, GSMA and Jumia.

Token and Fund Allocation

The platform’s native token is TEL, an ERC-20 utility token and a tool that Telcoin creators believe will serve the unbanked smart phone holders in developing economies. In total, there are 100 billion tokens.

Overly, the project’s aim was to raise a minimum of $10 million and a maximum, the hard cap, of $25 million. As such, crowd funding timeline was set from Dec 12, 2017 to Dec 31, 2017. Of the 100 billion TEL coins, only 20 percent or 20 billion was available for sale.

Then, each token was sold at 0.00129 USD (0.0000018165 ETH) with the minimum contribution at 0.1 ETH with no maximum cap. Notably, only ETH and BTC were the accepted coins. Despite an overall ratings of 3.3, the team managed to raise $25 million from their token sale which ended on Dec 31, 2017.

Albeit their successful ICO, there are no details on how exactly funds were used. However, as per their whitepaper, a “large part of the extra funds will be allocated to additional marketing spending in order to maximize our reach to at least one telecom in as many countries as possible – particularly important remittance corridors.”

At the time of press, TEL has a market cap of $21,505,807 with a daily trading volume of $105,173 or 156,296,866 TEL. This is from a circulating supply of 32,051,138,545 TEL. Year-to-date, the token’s performance has been stellar against the ETH, adding 69 percent, dismal against BTC as it is down 45 percent and stable against the USD.

Short-Term Price Catalysts

There is no doubt that Telcoin, an innovative blockchain based solution, is trying to merge two of the world’s leading digital domains in blockchain and mobile technology. Disruptive in a sense and a cog that will help in achieving a 100 percent financial inclusion, Telcoin is despite the bog, progressively moving towards its objective.

Although it is hard to judge the project’s true market potential and whether its token price will rocket in days ahead, the media attention it has received over time will help in a way reassert how the project is significant. The overarching objective for Telcoin is to be a go-to platform in online remittance, play a role in eCommerce and fulfill its purpose in monetary payments where people, regardless of geographical location, can receive money in their mobile phones.

As a result, the platform has an incentive-based governance model, a Flexible API for more interaction and differentiating itself from competitors, transacting via the platform is affordable. Because of what they want to achieve, they have a reliable platform that can support over 5 billion mobile phone owners.

Since they work closely with mobile operators, Telcoin inherent a system where users already trust the system made easier thanks to their proprietary easy to use wallet available for iOS and Android, that can easily integrate with telcos mobile wallets. The simple fact that Telcoin wallets can connect with Telecom mobile wallet means that users can send funds directly to phone numbers.

Striking partnership and edging closer to providing remittance services to those who truly matter is vital for Telcoin. Already as per their roadmap reveals, there is progress, releasing the Telcoin Reference Wallet in Q1 2019. There is another milestone. Late July 2019, the Telcoin team announced that their registration “with the Australian regulatory body AUSTRAC as an independent remittance service provider has been approved.”

As a result, Telcoin continued, this was their “first step toward providing Telcoin users in Australia the ability to send fast, secure, and affordable remittances to Southeast Asia and beyond with just a few taps on their mobile phone.”

Long-term Price Catalysts

Part of Telcoin success anchors on their ability to draw partners and get approval from regulators across the globe. Therefore, it is a noteworthy achievement that Telcoin, after waiting from 2018, has received a virtual currency license from Philippines Central bank.

Because of BSP VCE license, Telcoin can open up the first remittance corridor between Philippines and Canada. Thereafter, they make the real first step towards Telcoin product launch. Furthermore, with the license, Telcoin can reveal their Telecom partners in the Philippines as they prepare for a possible product launch latter this year.

Next there is also a great partnership for adoption in Malaysia:

We’ve partnered with Telin Malaysia, a member of Telkom Group, the largest telecommunications services company in Indonesia. Together we will empower anyone in Malaysia to send low-cost, high-speed, international remittances to Indonesia and beyond. Soon, anyone in Malaysia will be able to cash in via Telin’s network of 30,000 dealers nationwide to remit money to friends and family in Indonesia using the Telcoin app.

Additionally, with their partnership with NYSE-listed Jumia and Vimo, which is Vietnam’s leading mobile wallet, it is no doubt that Telcoin is right on track on their ambition of making remittance easy and fast in South East Asia.

Specifically and according to Telcoin, their partnership with Vimo will be the “fastest and most affordable option for the $1 billion Canada-Vietnam corridor.” Because of this link, “Telcoin users in Vietnam will be able to accept inbound international remittances from Canada (in CAD) and cash out to their Vimo digital wallet balance (in VND).”

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