A cryptocurrency presenting its own flagship smartphone which will enable transactions via cryptocurrency as well as maintain friendly relations with the middle-class wallet; this sounds just too fantastic to be true, which is exactly why Queen would have reiterated its magnum opus,
“Is this the real life?
Or it’s just fantasy?”
Guess what? Electroneum (ETN) is pumped up to launch the M1, an Android phone with built-in cryptocurrency mining capabilities. The team at ETN have announced that miners can earn nearly $3 worth of ETN on a monthly basis. What’s more; this technological newbie comes at $80!
What is Electroneum?
Electroneum, or ETN in short, is a cryptocurrency with a purpose of fulfilling the bare necessities of those who are yet to possess a bank account of their own. ETN can be used to purchase everyday items like daily groceries, and also mobile phone top ups. As their homepage claims, ETN is “the world’s fastest and first KYC/AML compliant cryptocurrency.” With a social motive based on humanitarian grounds (with a bigger-than-a-pinch of profit to make from the market), ETN aims at developing a convenient digital payments ecosystem to try cater to those unbanked 1.7 billion people (their homepage claims it so) by that allowing them to “..store, send and receive digital funds via their smartphone…“
How did M1 come into being?
It was at the Mobile World Congress 2019 in Barcelona where Electroneum, unveiled the M1. The fourth of its kind of smartphones (yep, read on till the next segment!), the M1 is designed to provide primary features at an unexpectedly comfortable price, competing with reputed mobile brands like Samsung and HTC.
Electroneum M1’s Key Features —
• Dual SIM support
• Built-in cloud mining
• Mobile mining app of Electroneum
• 4G connectivity
• 8GB Storage
• Front and rear cameras
Any M1 User is able to convert the $3 he/she earned in the form of ETN into mobile data packages, airtime, and other miscellaneous purchases on the web.
Come on! Big endeavours are never that simple! At the MWC 2019, Electroneum also announced that they will collaborate with The Unlimited, a financial service provider and mobile virtual network operator based in South Africa. People who have subscribed to The Unlimited SIM card are provided with free airtime and mobile data. Electroneum’s CEO Richard Ells had said at the event,
“We carried out a large survey in the country and found that 97% of those who responded said they would like to use ETN to pay for mobile airtime and data. This gives ETN the real-world value that it needs to achieve true mass adoption.
This is a major step forward for us, and it’s an incredible new chapter in the Electroneum story. The Unlimited share our vision and are the perfect partner for us. They too want to improve the lives of people living in South Africa, so we’ll be working to support the on-ground growth and significantly investing in the country’s ecosystem.”
Wait. M1 is the fourth of its kind?
That’s affirmative. In this pursuit of promoting the usage of digital currencies, Electroneum trails behind HTC, Samsung, AND Sirin Labs too. A company under Fintech, Sirin Labs had joined Simplex to bring forth the fiat-to-crypto conversion feature on their own blockchain-powered smartphone Finney, which was released on November 2018, the first in the emerging great chain of blockchain phones. This is followed by HTC‘s own crypto-supported phone, Exodus 1, which will be launched this year. Also, Samsung’s new Galaxy S10 series is supposed to support private keys for crypto-storage, about which we have raved at length in this post.
Cryptocurrency has come a long way this year, from the iOS Gboard to improvised smartphones that powered by blockchain technology. It is only a matter of time when the world around us would be digitised in the safest way possible.
Featured image from Pinterest.