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the future of blockchain remittances on mobile

the future of blockchain remittances on mobile
Written by publisher team

The second half of 2021 was relatively stable for Telcoin (TEL) after the May explosion. Now (December 20) the price is at $0.01229 – back where it was in July.

“relatively stable” in terms of encryption. It’s still 60% lower than the mini-peak for November. But keep in mind that this cryptocurrency started the year at $0.00017 and surged 35,000% to an all-time high of $0.06 on May 11 according to CoinMarketCap.

After the inevitable decline, the price started to rise again in July across the breakout range from $0.01 to $0.03. At the time of writing, telcoin has a market capitalization of $706 million and was hovering at the lower end of that range.

As we approach the end of 2021, are we looking at the potential for next year? Learn more about project fundamentals and explore the latest TEL crypto price predictions and market sentiment.

What is Telcoin?

Telcoin is a decentralized financial platform powered by active Telcoin users. It aims to build decentralized user-owned applications and distribute these products and services through telecom service providers to mobile users globally. TEL is an ERC-20 token, powered by the Ethereum blockchain.

While the Telcoin token competes with other cryptocurrencies that specialize in facilitating financial transactions, such as ripple (XRP) and eCash, it has an advantage through a use case model in the telecom industry.

By providing remittance services to mobile service providers, Telcoin is in a position to position itself as a leader in this field.

According to Statista report, the number of smartphone users globally has crossed 6 billion in 2021. Based on its forecast, the market will reach 7.5 billion in five years. Therefore, the telecom sector provides the largest group of users who can access financial products via smartphones on a daily basis.

Meanwhile, the decentralized finance sector is gaining momentum, with more than $95.41 billion locked into DeFi platforms, as of December 20, 2021. Telcoin is trying to seize this opportunity and enable telecom service providers to distribute decentralized financial products to their subscribers.

Telcoin Crypto News: New Products

Telcoin was founded in Singapore in the summer of 2017 by Paul Neuner, an entrepreneur with over 12 years of experience in cybersecurity, communications and blockchain expert Claude Igwenta. The company’s launch product, Telcoin Remittances, specializes in low-cost, high-speed money transfers to e-wallets.

In June 2021, Telcoin launched version 3 (V3) of its mobile platform and introduced two products: TELxchange Network and Send Money Smarter (SMS).

  • the phone It is a decentralized, user-owned digital asset exchange. TEL coins are used as a medium of exchange and as a reserve asset.

  • Smarter Money Network (SMS) It is a user-owned decentralized international money transfer platform that aims to “disrupt the $700 billion remittance industry,” according to Telcoin.

V3 is designed to simplify contactless payments. It also provides a storage center for TEL tokens and allows you to exchange tokens for fiat money.

Commenting on the progress of the rollout of version 3, Telcoin said: “V3 represents the culmination of three years of research and development, enterprise building and business development. The next generation of Telcoin platform stack is designed to take full advantage of the power of DeFi and the telecom scale to deliver fast and affordable user-owned financial products For every subscriber of the mobile network in the world.

In its November community update, Telcoin stated that it is preparing for a global expansion. “From January 2022 onwards (eg, V3.2+), we expect to have a version of the product that is ready and ready for significantly increased commercialization and deeper global scalability,” the company said.

The company will focus on revenue generation and engagement with new partners: “We have put fundraising ahead of Series A work in preparation for this rapid expansion.”

Regarding the technology update, the company mentioned upgrading its wallets and migrating users to the Polygon network: “This allows users to consume very low fees and experience much faster transaction times.”

On December 16 Telcoin announce You will be joining the Alchemy Platform certified infrastructure alliance. She said the partnership “helps ensure that Telcoin’s infrastructure is secure, fast, and available to all users.”

Telcoin Price Engines

TEL crypto price predictions take into account technological developments that allow users to control their assets without expensive bank fees or trading commissions.

Buying, expressed in spikes in TEL trading volumes, was $373 million in May and June 2021 — nearly 5,500% higher than the $6.7 million trade volume, as of December 20, according to CoinMarketCap.

This performance indicator shows that the project managed to capture the attention of investors this year, but the interest faded after that.

telcoin

Telcoin has built a blockchain solution for sending peer-to-peer payments around the world, and has proven itself with a clear focus on integrating communications with the blockchain.

According to Telcoin, it targets fast transactions that happen in seconds at a cost of 2% per transaction, which is cheaper than the average of 7% taken from other payment services. Will that be enough to boost Telecoin (TEL/USD) expectations and help with its global adoption?

As of December 2021, Telcoin announced that it has expanded its services to 24 mobile money platforms in 16 countries. In addition to the Philippines’ premier remittance partner, GCash, Telcoin users can now make money transfers in the following countries:

“The opening of these initial corridors is an exciting and important foundational moment in the Telcoin journey,” said Telcoin CEO Paul Neuner. “We don’t see this as just affordable transfers, but as a first step toward expanding financial opportunities for people in these new markets.”

Telcoin Price Prediction: Analyst Sentiment

Commenting on Telcoin’s future price prospects, Capital.com analyst Mikhail Karkalev said: “Mobile money transfer is very promising, especially for the blockchain industry, where there are very few telecom-focused projects. The advantage of Telcoin is that it has access to To a huge audience of 5 billion potential users very quickly.

“However, despite the real expectations, the project also has a number of drawbacks,” the analyst added. “First, when partnering with major telecom operators, the TEL code and the project itself may become centralized, which carries the risk of changing pricing or customer service policies. Second, telecommunications is closely linked to the defense industry and of course to government and various security agencies. Therefore, although Blockchain rules, the project may be tightly regulated.

“Demand from the crypto community is now low, largely due to the token not being traded on top exchanges. If the situation begins to change and the project is listed on one or two platforms, and announces one or two promising partnerships with major telecoms companies, Mikhail Karkalev concluded, It is definitely worth including the token in the list of promising investment assets.”

Telcoin Price Prediction (TEL) 2021, 2022, 2023, 2025, 2030

According to Allied Market Research: “An increase in the need for transparency in the payment system and an increase in the flow of remittances from foreign countries are driving the growth of the global cryptocurrency market.” The research predicts that the global cryptocurrency market will reach $4.94 billion by 2030.

This could be a positive driver for Telcoun’s future price as the project is at the forefront of the blockchain-based remittance services sector.

Algorithmic-based forecasting services, including Wallet Investor and Digital Coin, also express long-term bullish telcoin price predictions (as of Dec 20):

  • Wallet Investor sees the token trading around $0.0143 a coin at the beginning of 2022 and estimates that it could rise to $0.022 by the end of the year, to $0.052 by the end of 2023, and $0.072 by the end of 2025. It notes this provides a forecast for Telcoin price for 2030, but it believes The price could reach $0.11 by the end of 2026.

  • Cryptocurrency is more conservative in its Long-Term (TEL) price forecast, expects digital coin to reach $0.02 by end 2022, $0.03 by end 2023, and $0.025 by end 2025. It predicts TEL cryptocurrency to reach $0.053 in 2028.

When looking for Telcoin (TEL) price predictions, it is important to keep in mind that analysts’ predictions may be wrong. Analysts’ forecasts are based on conducting a fundamental and technical study of the performance of the cryptocurrency. Past performance is not a guarantee of future results.

It is important to do your research, and always remember that your decision to trade depends on your attitude to risk, your experience in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.

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Read More: Ripple Price Prediction for 2022 and Beyond: What’s Next for XRP?

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