Electroneum (ETN) has recently experienced a significant surge in price following the beta launch of their new mobile payment app. Since the app’s beta rolled out, Twitter and Reddit have been flooded with positive testimonials from beta users. The app allows individuals to conduct transactions using ETN in a matter of seconds, no matter the distance. As of now, beta testers worldwide have successfully integrated the API. It appears the app’s instant success bodes well for the ETN currency’s reputation, as well.
Electroneum Prices Skyrocket
The coin’s price rose from $0.00514 on Tuesday, September 18th to $0.015216 as of the time of writing, Wednesday, September 26th. This is an increase of 196%. Landing ETN at a market cap of $121,440,196. This introduced ETN to the top 100 cryptocurrencies list, where it currently sits at #52.
Clearly, large developments are underway for Electroneum and its users. Eager to learn more about the future of Electroneum, we spoke with the coin’s CEO and Founder, Richard Ells, to dig deeper.
An Interview with Richard Ells, Founder of Electroneum
According to Ells, in October, Electroneum plans to start marketing for the first time since the ICO. The marketing efforts will aim to bring on vendors and new corporate partners. If successful, Ells believes these to be the first steps towards mass adoption.
Q: Through marketing, how do you plan to target potential users and streamline mass adoption?
A: As the world’s first mobile cryptocurrency, we’re designed for mass adoption. We make it easy for anyone with a smartphone to earn, accept and spend cryptocurrency. Our route to market is through partnerships with global mobile network operators. We have signed deals in place to access over 100M smartphone users and many more in the pipeline.
The mobile operators allow us to reach out and incentivize their customer bases, whilst bringing many benefits to the network operator themselves. It’s a great symbiosis. We have two network operators that are currently integrating Electroneum Instant Payments into their systems to allow their users to top-up their airtime and data with ETN. Once these are live we’ve got a marketing plan ready to bring on more network operators.
We’re working with our partners and their vendor networks to build an education program to enable the vendors to educate their customers in person about the benefits of ETN. Word of mouth and personal recommendations will help our network grow and will help people really understand what we offer – particularly in those parts of the globe and those communities who are new to crypto.
All of these things – our technology, our partnerships, the power of the face-to-face education and interaction, and significant marketing investment – will work together to help us achieve mass adoption.
Q: What do you think being in the top 20 coins will do for crypto adoption as a whole?
A: It’ll give us a much bigger profile – and if more people know they can get an ETN account and all the benefits that come with it for free, then we’re confident that not just our user numbers but the overall number of people using crypto will skyrocket. It’s important to remember that gaining access to ETN will enable huge numbers of users to get access to the entire cryptocurrency market for the first time.
It’s only our price that keeps us from the CoinMarketCap top 20 list, but we are focused on delivering a solid product with the largest number of real users in any cryptocurrency in the world.
Q: Does this line up with your company goals?
ETN was founded with the goal of creating a cryptocurrency that is so simple to use and acquire that almost everyone can access it, that was aimed at the 99%, instead of the 1%. We want to take the elitism out of crypto – and more partners, users and vendors is a key step towards achieving that.
Q: How will Electroneum change as a digital currency with more adoption?
A: You’ll see more people actually using ETN as a form of payment, more shops, and stores offering it as a payment option and more big businesses – or corporations – willing to accept payment in ETN.
A big factor in our growth will be the legitimacy we get from complying with Know Your Customer (KYC) and Anti Money Laundering (AML) regulations.
We were never intended to be a token that was solely bought, held and traded by speculators – we were designed to be a means of payment, something that people could use to improve their lives.
Q: What can we expect from Electroneum as both a company and a currency in the next few months?
A: We’ve got some massive milestones coming up over the next few months.
- We’re looking to move our Instant Payment API out of beta very soon.
- We’re also rolling out KYC. Which has been a requirement to close the deals with a number of corporate partners we’ve been negotiating with.
- We also have mobile mining for iOS users in the pipeline. We’ll offer ‘Cloud Mining’ to people who use iOS phones. If it goes well, we’ll roll out ‘Cloud Mining’ on Android too.
In the long-term, we’re hoping to see more ETN ecosystems established. Our reward system enables people who engage with ETN to earn around $3 a month. This is not a large amount of money to people in the Western world, but a substantial amount in areas where the monthly income is often less than $100.
If we can create an environment where people can earn $3 worth of ETN and then spend it locally or online. We’ll make a huge difference to the lives of millions of people across the world. Once the instant payment integration is complete with the network operator you’ll see our first country come online very soon. That will enable us to show how building an ecosystem works across the world. Once we have one, we’ll roll them out as quickly as we possibly can!
A Bright Future For ETN
We’d like to thank Richard Ells for providing Blocklr and our readership with a peek into the future of ETN. After watching ETN climb recently and speaking with Ells, we could not be more excited for what’s to come. Moreover, we look forward to more significant developments in the crypto community.