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I recently got into a discussion with a guy on Telegram about what he saw was the failing direction the Electroneum team were taking. He complained, as so many do, about the amount of focus etn were directing at Africa and Brazil. Giving all the free value to people over sea’s blah blah blah.
I wrote him the following reply with the hope that just saving one soul would somehow help his future online mutterings change from negative to positive; spreading out like ripples on a pond.
He had a few good points, but ultimately it came down to his investment, like so many others, being worth less now than it was when he bought it. His whole argument was about profit.
I replied with this. Enjoy.
"I think you have made some very good points in your statement. Everyone is trying to make money. And there in lies the problem. When whoever made bitcoin, I definitely don’t believe his or her main incentive was to make money. It was to build something surely? To challenge the strangle hold the financial institutions held over billions of people, and even with this groundbreaking idea it took 7 years to go from creation to peak value,( so far).
ETN are a lot smarter than most of the investors have any idea about.
Their true genius is based partly on the history of mobile phone use in Africa.
The Nokia 1100 is the most popular phone in the world. It is not only a lot more resistant, than any smart phone, it also uses a simple menu system, has few separate parts and every town across the developing world has a local repair shop with spare parts to fix or charge them. These “dumb phones”, as they are known, changed the financial situation for millions of people because of one small change, ( Developed by VODAFONE ) and introduced by a company called safaricom.
The system they created was called M-pesa.
countries such as Kenya have been using M-Pesa since 2007, where users can transfer money via SMS messages and short codes. No apps or smartphones are necessary , just a phone number, an amount, and a code.
Within 9 years nearly 30% of the whole country’s GDP flowed through this system as people gave up on cash and used M-pesa to send money to the home villages, and buy everything they needed from the local shops and markets.
Let me just repeat that,
30% of GDP of the entire country of Kenya!
How much do you think they spent on advertising to get this system adopted?
Massive Facebook campaigns?
Massive email drops?
None of this was an option. It was functionality and word of mouth.
Africa is the largest growing mobile phone market on the planet, And Richard ells knew this, and the history of using phones as a system of payment.
ETN is creating the 2nd wave of this incredible change for the growing smartphone markets in developing countries.
Not only is ETN recreating this payment system for the modern phones in developing countries, he’s creating a alternative reliable working system for everyone with a smart phone.
You may not like the media and advertising strategy at the moment but that’s because it’s not aimed at you, it’s aimed at an enormous group who can use it as a real life, everyday currency right now.
And it’s definitely not because it’s trying to make ETN HODL-ERS rich, at least, not yet.
It’s disrupting the system. Hell, it’s creating a new one!
The only reason ETN exists in its current state is because of the amount they gave away. And because of who they are giving it to.
Once they have an entire system up and running, in multiple countries, they will have a lean, polished functional and transferable example of a modern financial system for the people of every corner of the world that has an Internet signal. ( seen any reports about Google or Facebook trying to design flying devices to beam Internet signals to remote places on earth? Yeah, there have been quite a few)
So, go sell your ETN, tell everyone you just don’t believe anymore, but just think about what this means to the people who are getting the most out of ETN now, and what that could translate into across the planet"