Electroneum’s ICO (initial coin offering) took place in September last year. In those 14 months, the token has reached a price of $0.0079 which has created a lot of skepticism about the project. But the price shouldn’t matter all that much as long as the project still offers scalability. While it started as a Monero (XMR) fork, Electroneum has chosen a completely different path.
This UK-based digital asset has pros and cons of its own, in a moment in which the whole cryptosphere is losing value all the time. As with any other blockchain project, supporters like the good news, and skeptics question everything (sometimes even attack it), and they feel that the low price (or a drop) proves them right. But Electroneum could be attractive to investors and enthusiasts however low the price currently is –or because of it.
Electroneum is not going anywhere. It will stay around for long even if the market has failed so far to understand its value. And that is why it’s underpriced.
The project’s emphasis is clearly on micropayments and mobility as it’s shown by the platforms, apps, and tokens it offers. It aims to provide financial services to everybody in the world who owns a smartphone.
Services for the bankless
Electroneum’s strategy is predicated on the fact that lots of people all around the planet own a cell phone but do not have the resources, or the option, to have a bank account. That leaves them out of the global financial system, and they can’t get even the most basic financial services. The project is focusing on these people, which is a big fraction of the world’s population. Additionally, the project’s token (ETN) could be a safe haven against an upcoming financial crisis, just as any digital asset can be.
Among the project’s features is a very innovative payment system created by the ETN team from scratch. It’s an important development and, it’s been tested successfully already. More than a thousand vendors are invited to adopt the API Instant Pay BETA.
It’s quick, it’s safe, it’s free to use. For those who need to use MoneyGram or Western Union to send money overseas, or even worse, bank wires, Electoneum’s platform could be a great alternative. This gives the payment app alone the great potential for mass adoption, starting in the UK, but spreading the world over. Moreover, it would give the token real-world usefulness so its market would be driven by real economic forces instead of pure speculation, as it’s currently the case with most cryptocurrencies.
It has an Anthem!
It was created by Nave Savage, an ETN community member. You think this is irrelevant? Think twice. This is the kind of thing that brings cohesion into a community of users, it helps to create identity and solidarity. So while an anthem is not going to increase the coin’s price, it speaks volumes about the kind of commitment you can find in this project.
Some final words
Electroneum is not in the spotlight in the way that Bitcoin, XRP, Litecoin or many other cryptocurrencies usually are. But don’t be deceived. It has value and it’s going to take off sooner or later.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image Courtesy of Pixabay.
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
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In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…