A warm welcome to another Let’s Simplify Things! post!
In this post let us have a look at Electroneum and simplify it.
First of all, let me give you the history of Electroneum, as it is important to know how such a project has done so far!
I will not bore you with many details, as the concept of this blog is to keep things simple.
Electroneum and its native coin ETN was created at the end of 2017.
The initial concept was to create a cryptocurrency for mobile phone payments.
Mainly to be used to top up prepaid mobile phone accounts.
One year later at the end of 2018, Electroneum had more than 2.5 million registered users, had signed agreements with multiple mobile network operators, and their network and apps were operational!
By the end of 2019 Electroneum had managed to update their network and apps to be able to handle larger number of transactions and be more functional, had signed agreements with more mobile network operators and was launching AnyTask.com.
And we come to 2020 and until now they had their own smartphone device launched in Cambodia, named M1 Electroneum, seen the number of registered users surpass 4 million, introduced the utilities top up feature enabling users in African countries to top up their pre-paid electricity meters using ETN and most importantly, for me, they launched their merchant programme.
Their merchant programme brings a direct connection of the Electroneum network and ETN to the shops!
They also had a “mining” option of ETN on their mobile apps that has ended middle 2020.
That wasn’t a real mining operation but rather an airdrop that in order to claim you had to log in to the mobile app and click the claim button regularly.
If you didn’t the “mining” would stop.
The amount you earned was also affected from the device you had the app installed.
They used the maximum possible H/s of the device to calculate the amount of the airdrop.
So in the beginning, they saw the need of an easily accessible and cheap service to top up mobile phones accounts in developing countries and they had their first success in Africa.
For you who don’t know it, in many African countries mobile phone accounts/numbers are also used as bank accounts, as they are not many bank branches available in these countries ( especially out of the capital cities ).
Starting with toping up those accounts they figured out that they could also use this service to pay for goods and services so, they expanded into a full payment service.
Their success is obvious, as you can not only find thousands of offers for online services in AnyTask.com, but now find shops that accept ETN around the world.
I know the number of those shops is still small, but how many other projects you know that have managed that?
And I’m talking direct connection to the shop, not via giving you the ability to buy gift cards ( usually via a third party ).
They are also working on a new learning management platform TaskSchool.com which is currently at beta stage.
Most importantly, for the price of ETN, they are pursuing a listing on Binance!
That listing alone will have a serious effect on the price of ETN, as it has been proven with any coin listed in either Binance or Coinbase!
So, for me it is a project that has proven via its track record that has real daily usage.
It solves various problems and it is active in developing itself in order to get better and adapt to the real market needs.
So, to simplify it Electroneum started as a way to top up prepaid mobile phone accounts and has developed into a project with huge potential as, you can now use it to pay for goods and services around the world.
Finally, before saying goodbye, I want to let everyone know that I have no sponsors, this post is not sponsored by Electroneum or anyone else whatsoever!
The above reflect my personal views and by no means should be taken as a recommendation to use or not use any service or equipment whatsoever!
Please feel free to make any suggestions or comments especially on what you would like to see next being simplified!
Until the next post....
Thank you all from the bottom of my heart!
Ps: Electroneum is not running any referral campaign or promotions!