The coming onboard of Electroneum (ETN) into the crypto-sphere has seen many mixed reactions and many analysts see the outfit as a big rival to PayPal (NASDAQ: PYPL). The mobile based instant money payment network comes with a lot of flexibility that the consumer has been yearning for. One year since the coin launch has seen a lot of developed and the current early adoption campaign is a positive move towards dominating the market segment.
ETN has commenced a merchant and vendor recruitment drive that will see the coin demand rise due to growth in usage. The project drivers are keen on increasing their presence in the market and appear to focus in areas where PayPal and other online settlement systems do not have much influence due to their restrictive nature.
The entry pf ETNCommerce software in to the market has send shivers among traditional payments systems. The app can be downloaded easily and is a ready to use app that is compatible with PayPal, Skrill, AmazonPay and Sofort among others. This will increase its global reach and visibility.
ETN Advertising Campaign
The Recruitment drive comes exactly one year since the revolutionary coin was launched and this is set to culminate into mass adoption. Their advertisement is simple and targeted at vendors who will in the long run increase the coin visibility and appeal. The advertising brings with it a lot of professionalism which has been missing in the cryptocurrency industry.
The campaign is targeting at the over 2.5million ETN users who will benefit from the direct interaction with the vendor community. On the other hand, the vendors will tap into the multi-million market worth of ETN. While kicking off the campaign, Richard Ells, the CEO and Electroneum founder has said:
“There are 2.5million Electroneum accounts with a total of $150million worth of ETN waiting to be spent. He goes on to ask; “What retailer wouldn’t want to be able to tap into that?
This is a clear sign that the platform has ready and popular products that is ready to roll out to retailers through an aggressive campaign that should be worrying their traditional competitor, PayPal.
Electroneum Comes with Improved Consumer Vetting
The Electroneum developer team has pulled a new feature using KYC into the market. As it celebrates one year, it is the only digital asset platform that seeks to protect its consumers against misuse of digital coins. The platform goes further to ensure that the consumer do not necessarily have to be vetted to purchase goods depending on their age, gender of sexual orientation.
For underage consumers to purchase alcoholic beverages and tobacco related product, proof of age will not be required. Once you are vetted through their KYC process, you do not have to provide your identification details while spending your ETN in partner outlets.
Interestingly, unlike PayPal, Electroneum is available in all countries and anyone can be an adopter. This means its market penetration is superior that the conventional payment systems. The application turns your smartphone into your bank and you can receive, send and mine ETN on the go; no complex mining equipment.
Electroneum Wooing Operators in the Telephony Industry
Apart from the merchant and vendor advertisement drive, Electroneum is wooing mobile operators to be part of the network. Integrating telephony provider systems into that of ETN will see the outfit achieve its mass adoption goal faster than anticipated.
The Electroneum CEO feels that mobile phone providers are the future of the outfit:
“Once our deals with these mobile companies are over the line, they’ll start encouraging their users to download our app and start mining ETN. When that happens and we have people using ETN on a regular basis, they’ll start looking for other places to spend their ETN. We’ll become an established means of digital payment just like PayPal or ApplePay. Then the world’s our oyster!”
As the community celebrates one year, the ETN price appears to be headed north with a marginal growth of 3.70% to trade at 0.018404. ETN coin has also gained with similar margins to ETC and BTC in the last 24 hours prior to reporting.