Electroneum was started in 2017 by CEO, Richard Ells, who wanted to see blockchain and cryptocurrency put to good use. So Electroneum set out to build products and a cryptocurrency that would help all entrepreneurs build their businesses easily and affordably.
In September 2017, they launched the ETN ICO campaign. It was so successful that it closed early, after achieving their Bitcoin and Ethereum target purchase of $40 million!
As a result of the success of their ICO and their rollout of savvy apps for digital purchases, Electoneum has maintained a flush treasury. The company continues to grow its outreach, and help users to build successful eCommerce. This means that the company is poised to have a strong return for ETN investors and users, as well as maintain a strong treasury to help secure the future of the company.
ETN Payment Systems
ETN is designed as a payment system that can be used for everyday payments, with very little cost to the seller. The cost of a single transaction is a fraction of the USD cent. This is much lower than many other cryptocurrencies such as Bitcoin. Low transaction costs make small, everyday purchases possible with ETN’s digital payment and native cryptocurrency.
Electroneum has exploded since 2017 with over 3.8 million users as of June 2020. They have over 2 million app installations, as well as nearly 300,000 app-to-app ETN transfers. Electroneum does it all; it is a payment processing system and has its own native token, ETN.
By using AnyTask, users are able to sell personal services and products will no service costs, and it is VERY user friendly. Because they are a full-service payment processing app, there are no extra or expensive fees for users.
The ETN token and the app have been particularly successful in Brazil, Turkey, and Nigeria. AnyTask makes organizing payment processing for any kind of business easy, accessible, and affordable. With AnyTask, users can send and receive payments in ETN, and with fast-growing popularity, that makes paying for many services a lot more accessible for millions of people around the world.
ETN has put the efficiency of cryptocurrency and the security of blockchain into action. Over the three years that ETN has been in full swing over 1900 eCommerce and brick-and-mortar businesses, in 170 countries have registered easily with ETNEverywhere, and the numbers just keep growing.
Growing Partnerships – CellCard Cambodia
Accessibility and affordability are a top priority for Electroneum’s digital payment ecosystem. In order to make this possible, they have even made an affordable smartphone that can be purchased through CellCard, a Cambodian mobile provider that they have partnered with.
Electroneum believes in making digital payment systems accessible for everyone, especially those who are currently unbanked. South East Asia is a particularly important area for digital payment systems. Cambodia has a population of around 650 million, with about half of that population under 30 years of age.
Cambodia is also the sixth fastest growing economy in the world, with a largely low-income and unbanked population. With a digital-savvy youth and entrepreneurial spirit, Cambodia is an important region to watch as far as Electroneum’s service offering.
In order to help grow digital payments in Cambodia, Electroneum started a direct partnership with CellCard, so it is even easier for Cambodians to top up ETN and data payments.
Under the Hood – Everything You Need to Know about ETN
Over the past 3 years, Electoneum has done everything it can in order to make it a product worth using. They started off strong with a successful ICO campaign. But since then they have also held other promotions, including airdrops of ETN.
Now that the company is fully rolling, they will no longer be giving their cryptocurrency away. Although this is disappointing to those who love free things, it’s very good news for ETN’s strength. Recently the airdrops of ETN have stopped. This is an important next step to ensure the value of ETN increases; inflation has dropped to about 4%, which is a promising next step.
Along with an array of apps and products, Electroneum is one of the first fully KYC/AML compliant cryptocurrency. Working transparently with governments and corporations is a crucial step to ensure that Electroneum has a fast adoption rate. Such partnerships have been possible because they readily embraced the 2018 EU Anti-Money Laundering Directive.
The cryptocurrency is also incredibly secure and is one of the few blockchain networks that is invulnerable to a 51% attack. It is also the greenest cryptocurrency out there. Cryptocurrencies like Bitcoin and Ethereum use an incredible amount of energy to mine and use in transactions.
And as already mentioned, they have even built their own affordable smartphone designed for the needs of people in developing regions, which runs for about $40 USD.
Electroneum also works directly with multiple NGOs in developing nations and is a trusted blockchain transaction validator. Check out their NGOs page if you are interested in donating to any of their projects.
- Electroneum: Electroneum LTD is registered in the UK, providing multiple digital payment services.
- ETN: ETN is Electroneum’s native coin, and now a top 100 cryptocurrency overall.
- AnyTask: AnyTask is the main payment application that makes it possible for companies to build an online marketplace.
- Primary focus: To build an easy and affordable payment application. A global network allows individuals and small businesses to make transactions easy and affordable.
- How: Electroneum can be used as an app-to-app payment system with only a smartphone.
- Goals: With AnyTask and ETN digital payments, Electroneum aims to bridge the gap between individuals all around the world, especially those small businesses in developing countries.