Review on Telcoin by Danh Huỳnh Ngọc Công
Telcoin - Telecommunication is a great alliance
Telcoin is a project created to facilitate global fiat and cryptocurrency transfers by utilizing the best features of blockchain and telecommunication technologies. Thanks to the solutions Telcoin offers, a wide range of existing problems of transmitting activities. Via a mobile app, SMS, USSD, MNO wallet, or other wallets, telecom users perform sending and receiving remittances in a quick and economical manner. They also enjoy access to both conventional money and digital assets on blockchains at various physical locations and complete utility payments with them. Telcoin project applications will expand in the future based on the due diligence into the market's demands.
Pros
- Telcoin is a smart contract on Ethereum blockchain so the transactions can be operated fast and securely
- Transaction fee with Telcoin is 2% less costly than the conventional methods
- TEL can be used to pay for subscription, fees, bills, or connected services. It will be issued once telecom operators and users interact on the network. The balance between them makes TEL price profitable to all the involving parties. Total
- Telcoin tightens their security measures time by time, operating their products according to the law and telecos' policies to exclude the criminals (the problem of blockchain) as much as possible
- The project aims to a wide market with large segment and access it with great incentivization
- TEL is traded on large exchanges with good volume such as Kucoin or HitBTC, and can also be obtained through wallets like Bread
- Their roadmap is reasonable focusing on making partnership with aggregators and telecom operators around the world
Cons
- The competitions is not only from the similar competitors but also from the reputable wallets (almost functions as Telcoin wallet) in blockchain industry which offers tons of features
- Telcoin network's health is depended heavily on Ethereum blockchain
- The project is aimed to cause an effect globally but the regulation on cryptocurrency has not been matured yet. Some countries even ban any activities involving cryptocurrencies
- There are some problems with telcos partnership: technologies are not ready, regulation on cryptocurrency may harm the business, personel demands will be high, etc.
- Mobile networks powered by Telcoin may suffers from a lot of attacks as more value is added
