Electroneum Introduces a Smartphone that Rewards Users with ETN

Electroneum Introduces a Smartphone that Rewards Users with ETN

The newly launched M1 is Electroneum’s Android-based smartphone that incentivizes users with Electroneum tokens (ETN). ETN can be used to purchase airtime and data, and also for shopping. An M1 costs $80 and is said to be initially available only in South Africa

With our experience in tech, we were able to gather a world-class team consisting of telecommunications, manufacturing, emerging area mobile-operators, product design and marketing specialists, all helping to make this utopian vision of ours a reality.

Richard Ells, CEO of Electroneum

Electroneum took a first step to springboard cryptocurrency mass adoption. The M1 smartphone has functionality that includes 4G and dual-sim. It is equipped with the Electroneum app that enables Cloud Mining giving their users the ability to earn ETN direct from the device.

With a few straightforward interactions, mining can start on the free app. Once the steps are completed, mining can perpetuate offline. This extends the boundaries for mining cryptocurrencies beyond the need to purchase expensive mining rigs. The $80 Android phone comes preloaded with ETN. ETN can be used for mobile top-ups for airtime and data, and paying for online goods and services.

CryptoVibes cites that users in South Africa, where the phone is currently available, need to have a SIM from service provider, The Unlimited. Once the phone is geared with the SIM, airtime and data top-ups can be done direct from the Electroneum app. However, BusinessWire reports the M1 gives opportunities for consumers in the ‘developing world’ to own a smartphone without a hefty price tag.

Richard Ells, CEO of Electroneum, says that the building the M1 is the outcome of team effort. ‘Without the broad range of talent and expertise, we could never have imagined the possibility of making a product of this caliber accessible for anyone in the world,’ he continues.

Expanding to the Rest of the World

According to CryptoVibes, Electroneum plans to begin with one South African city then extend to another two in three months time. This is the first real-world trial, done to acquire crucial knowledge. Information gathered in the test phase will enable the company to strategize on how to reach more countries with their product offering.

More ‘Crypto-enabled’ Smartphones


0.004459 USD 0.63%
0.00000051 BTC 2.00%
Volume, 24h
362,361 USD
42,144,999 USD

Related news

Crypto Adoption: Royal Bank of Canada Might Soon Launch A Crypto Trading Platform

Canada’s largest bank, The Royal Bank of Canada having over $965 billion in total assets could soon launch a crypto trading platform. Will RBC Soon offer Crypto Accounts? As per reports, by leading media, The Logic, RBC has applied for four patents in Canada and the US – a hint enough to decude that the bank might integrate cryptos into its operations. When questioned RBC spokesperson Jean Francois Thibault told  The Logic that similar to other organizations, patent applications, and concepts are protected and declined to comment on the platform launch. “To individual users, managing cryptographic keys and transacting with different cryptographic assets can be a challenge. In some situations, cryptographic asset transactions may take time to be confirmed, and/or may not be compatible or supported by merchant systems or point-of-sale devices,” reads the patent. The report further mentions that the bank could offer its customers cryptocurrency accounts. As a matter of fact, RBC has published a minimum of 27-blockchain-related patents in the past three years. These include credit scores, vehicle records, digital rewards and loan offerings. Rising Crypto & Blockchain Adoption in Canada A study by Bank of Canada in early October revealed that 5% of Canadians own bitcoin. Furthermore, the nation has been well-positioned in attracting mining businesses due to its colder climate and low energy costs. Not only is the national interest in cryptocurrencies rising, a survey by Deloitte in 2018 revealed that fifty-one percent of Canadian companies were investing in blockchain. Yesterday, Canada launched its second stablecoin, CUSD. Interestingly, the stablecoin is backed by the US Dollar and not the Canadian Dollar. CUSD similar to its forerunner CADT, (backed by the Canadian Dollar) has been developed by Blockchain Venture Captial Inc., a Canadian blockchain-based company. Will Royal Bank of Canada roll out its own crypto exchange? Let us know, what you think in the comments below!   The post Crypto Adoption: Royal Bank of Canada Might Soon Launch A Crypto Trading Platform appeared first on Coingape.

“Real” Adoption: $15.3 Million New York Condo Sold for Bitcoin

Prominent New York-based real estate founder and developer Ben Shaoul has sold an Upper East Side retail condo for $15.3 million in Bitcoin (BTC), real estate-focused media outlet The Real Deal reports, November 11, 2019. $15.3 Million Condo Sold for BTC Shaoul, the founder of Magnum Real Estate Group – a New York-based residential realRead MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.