Why is Electroneum targeting the unbanked? Would it not be better to target the banked? This question has been discussed various times within the community. The answer reveals the untapped potential of the unbanked.
Why Not The Banked?
Everyone involved in cryptocurrency is part of the banked world. A banked person has no problem buying things online or in person. They have multiple forms of payment ranging from checks to credit cards. Transactions are convenient, quick, and secure.
Frankly, the banked do not need Electroneum. ETN is not necessary nor does it solve a problem a banked person has. When trying to convince a banked person to use ETN, the argument tends to run dry after the investment aspect is detailed.
Frankly, the banked do not need Electroneum. ETN is not necessary nor does it solve a problem a banked person has
Why The Unbanked?
On the contrary, ETN can enable the unbanked and connect them to the global financial system. Currently, banked individuals can sell goods and services online because they can accept payment thanks to their bank affiliation. Their connection to the global financial system opens unlimited doors and opportunities.
ETN solves this problem for the unbanked. It allows them to participate in the global economy and expand their financial opportunities. Not to mention that ETN is offering free coins for their participation. ETN is also a better currency than local currencies. A future article will expound on this bold statement.
ETN solves this problem for the unbanked. It allows them to participate in the global economy and expand their financial opportunities
Research shows that there are around 2 billion unbanked people worldwide. Conservatively speaking, if 1% of these people joined the Electroneum ecosystem, this would mean 20 million users for Electroneum. Keeping in mind that the maximum supply of ETN is 21 billion, each user will only be able to acquire 1050 ETN if distributed equally and max supply is reached.
What kind of impact can this scarcity have on price? It is worth mentioning that the early adopters of ETN have accumulated hundreds of thousands of ETN if not millions. Therefore, the 1050 ETN figure is much less per person. Today you can buy 1050 ETN for about $4.50.
Keeping in mind that the maximum supply of ETN is 21 billion, each user will only be able to acquire 1050 ETN if distributed equally and max supply is reached.
Is This View Unrealistic?
Not at all. Currently, Electroneum is on the cusp of 3 million users. Of course, this includes active and inactive users. Those in the crypto space know that news and announcements can quickly excite and activate the entire user base to reach previous all-time highs.
From there new investors can join in along with natural growth and adoption. Each day 1000 users join Electroneum. This progress can be tracked on Electroneum.com. It is interesting to note that Electroneum's team have not even started marketing heavily and this is their specialty. Also, the ecosystem and partnerships are not fully in place yet.
Does this information excite you? Where do you see Electroneum in the coming years? One thing is for certain, mass adoption is being strived for and can be achieved with the efforts the Electroneum team are making.
Each day 1000 users join Electroneum