Can someone well educated about the topic what are the

Question

Telcoin Community

Uncle Aless - Bomber Martian

Can someone well educated about the topic what are the

main issues with telcoin becoming top remittance actor : legal, scalability, infra, security?

#cryptocurrency #english #tel #telcoin

0

06.10.2021

4 ответов

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Uncle Aless - Bomber Martian Автор вопроса

Memus Aurelius
Not claiming to be educated but I have had the ple...

Thanks for the infos. One other noob question. Many coins many mobile solutions provide high speed transfer and used for remittances or any transfer (last examples from el salvador). What telcoin is providing as added value compared to other mobile and transfer services?

0

06.10.2021

Memus Aurelius

Speed and affordability. First we have to narrow down their real target which is remittances. Yes there is use case outside of it but where Tel shines is it's target of high remittance traffic nations and ability to be used by the unbanked (large overlap there). Think of it like this, there are lots of different types of hammers, but some have better uses than others. Telcoin can used for sending money like Venmo but there are many solutions there crypto and non-crypto. Telcoin can send remittances and do that very well, but as you say there are some solid competitors, but what Tel can do that others can't is get money into the hands of those with no bank accounts in places like the Philippines. If you need convincing on why that is a big deal check out how much money groups like western union make sending remittances. This is because tel leverages the infrastructure and reach of telecoms. Rather than "overthrowing" financial systems (which will be met with resistance). They are partnering with institutions to provide a novel solution that adds extra profit they didn't have (telecoms) while passing massive savings to the customer (look at fee differences). Furthermore they are also leveraging defi to give the individual even more access and potential for profit/influence without having to pay fees to big exchanges. Consider the fact that if you stake eth on Coinbase they (Coinbase) take 25%. Now let's not forget that they are a startup and have very ambitious goals with not everything running yet. A lot still is not fully implemented. I suggest continuing to ask questions, read their medium articles, and familiarize yourself with remittance corridors and how that business works and who is in it. I hope this helps!

0

06.10.2021

Jimmy _B

Memus Aurelius
Speed and affordability. First we have to narrow d...

I feel like I haven’t heard remittance talk/info in quite some time. Still the main reason I am in Tel tho

0

06.10.2021

Memus Aurelius · Accepted Answer

Not claiming to be educated but I have had the pleasure of learning from smart people here and listening to the team from the beginning and I would gamble a lot of telcoin on legal being the biggest challenge. They are tackling a financial (highly regulated) market with very entrenched competitors (institutions which have the clout and possible interest of "slowing the process" of innovation) in a novel way (governments are afraid of new stuff especially crypto). The team has been amazing at turning potential adversaries into allies, but boy oh boy the world of international law is murky.

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