The encrypted payment network celebrates 3 years of operation and claims to currently have more than 4 million users worldwide.
Electroneum indicates that new features are constantly appearing to help you make our world a better place. One of the main products is the mobile cryptocurrency which allows people to charge their phones in more than 140 countries. As Cointelegraph reported in May, the digital payments project is also allowing consumers in four African countries to fill in their electricity meters directly from the ETN app – with plans to expand the service to more countries in the not-too-distant future.
Given that there are about a billion people in the world who do not have banks, Electroneum claims that the ETN cryptocurrency has helped achieve economic integration in ways that have never been before. The company says this token is “better than money” because it can be transferred between users without the need for an intermediary like a bank. In a world where cross-border payments can be remarkably expensive, they also allow fractions of a cent to be transferred in minutes.
Not being able to access a bank account is not always the only obstacle facing the world’s poorest people, as some of them lack access to technology. This is why ETN can be used without a cell phone – and why Electroneum has developed an affordable $ 40 smartphone designed to meet the needs of people in developing regions. The device is currently available in Cambodia only.
Bring it back
A recent innovation from Electroneum aims to help tackle the coronavirus pandemic as infections in South Africa are growing at an “alarming rate”.
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The nation’s volunteer organization, Ubuntu Pathways, recently reported that crypto mining services provided through the Electroneum platform allowed it to help those in the country most vulnerable to COVID-19. “We are grateful that Electroneum has become part of our global support community and helped make our work possible,” said Beth Honig, UK Director of the organization.
Electroneum has also created AnyTask, a global independent platform and website called ETNDonate, which allows those who use ETNs on a regular basis to donate their cryptocurrencies to the charity they care about.
In addition to the 4,048,709 accounts registered on the Electroneum website, the crypto company has released some stats that convincingly demonstrate just how much demand the ecosystem really is.
Within seven days of September, 5,700 new customers signed up for Electroneum and 5,300 downloaded the app. All this means that around 2.7 million people are actively using mobile phone software.
The team said more merchants are also starting to accept ETNs – and 2,030 companies accepting cryptocurrencies are being gathered on the dedicated ETNEverywhere.com website.
The company has also recruited prominent and influential crypto blockchain experts for its team and is helping spread the word about Electroneum more than ever. Matte Greenspan, founder of Quantum Economics, contributed greatly to the project – and said it was in line with Satoshi Nakamoto’s vision of freedom and economic integration for all. He also noted that Electroneum is already providing the simple digital payments and cheap cross-border payments that Facebook wanted to offer on its much-anticipated Libra network.
Blockleaders.io co-founder Jillian Godsell joined the project, and award-winning crypto influencer said, “I’ve been looking for opportunities to work with Electroneum for a long time. Since the early days I’ve been researching the project and love their focus.”
The company has already achieved a lot in three years, and it looks like the team isn’t going to sit still. New features that will make ETN more fun are in development, and the company is also working to expand third-party mobile wallet integration to allow more people to accept cryptocurrency.