Richard Ells mention several times in the interview with Global coin the ecosystem. ETN is creating a ecosystem for the coin to thrive in and he is a business man that knows money talks, so he couldn’t just create a coin, he is building a ecosystem.
I would like us all to lift some rocks in this thread and try to understand what ETN is all about. BTC is an idea and a T-ford of cryptos, ETN is a BTC lesson learned, where its strength and faults have resulted in the idea of ETN.
KYC was not wanted, but a necessity to build a ecosystem. The KYC function is the tool that open closed doors. Doors that is closed for all the other cryptos are the golden key ETN holds, and it is a ground shaker. So what do we as user need to do? We need to give some details about our self, give the wallet we hold a identity.
Level 1. You can now send and receive 50 euro a month or 150 euro every third month.
Level 2. We need to give some more personal details and the max limit is now 10 000 euro
Level 3. They know more, they own our soul and family…just kidding but we can now move unlimited amounts of ETN all the time.
That KYC docent look bad, just some first time hassle for some users that is not used to do that, we that got a bank account have done this several times already during our lives. Except of the doors that KYC opens it is actually having a function that all free people should love. KYC is fighting money laundering, it is fighting crime, crime that ruins honest people lives. We have read in the news howe N-Korea have used BTC for import and export. Money is politic and we needed to adapt to the world, and then we might be able to change it if we want.
Instant payment the only way to pay. If I pay with cash it is instant, and I cant see any better way of paying then instant. ETN solved that issue and made the coin, ETN is cash. The only problem is if we lack internet connection then ETN is worth nothing it is useless, but in the last interview Richard say they have made a similar thing as Mpesa so we might still pay cash/ETN, if I did understand what he said. That is power, cash is power. If I was to use BTC to fuel my car, the BTC way would be to let some one els to do it, because I would get a nervous breakdown if I had to wait a few hours waiting for my “cash” to show up. I think I prefer ETN and pay with real cash.
Mobile miner is not a miner but free cash sponsored by the ASIC miners, it is great. ETN for the unbanked, we are giving them cash and the miners created them. This must be the best and biggest charity that is ever been done, and it goes where it is most needed. It is not just charity it is also a tool for the unbanked to develop other tools. ETN is giving them a safe place to store cash, it gives them a possibility to buy from the Internet. They can participate financially with the rest of the world and that builds prosperity for all.
If what I wrote above was the only thing ETN did and think about, ETN was not worth as much as it can be, because it is more than 2000 other coins to choose from so why ETN. I can see some spark in the dark, the secret the Richard say so little about the hidden gem in ETN. Richard is a business man and to sell something the buyer must earn a lot more. Now we are coming to the business side of ETN the part that is doing mass adoption real. Masse adoption is not an exchange it is users of ETN. To get all the users we need companies that have users. Richard say he got a huge deals and deals in line, so we have many really good news coming, from the time KYC is live and in the future. He also said that he is building this ecosystem so there is no need for the companies to go from ETN to fiat, he wanted them to use ETN as cash. So howe is actually this ecosystem?