Note: I am an Electroneum fan and investor. Here’s the latest news…
I hope you and your family are well and keeping safe. We’ve launched an exciting new phase of Electroneum today at the online ANON Summit and I thought I’d share some more details and let you know what you might have missed.
I’ve also created a video, which gives you some more background on the next chapter for Electroneum. You can take a look at our Phase Two update video, but do take the time to read through our update below and get the full picture on what exciting things are coming up.
In this update:
- A look back on 30 months of success
- The biggest change (ETN Rewards) explained
- The exciting new projects of Phase Two
- Token economics and ETN Token inflation
- Crypto community ads
- 30 mins of me wittering on about markets and adoption
1. Electroneum Phase One has exceeded expectations
Last update, we talked about the fantastic success of Phase One, with huge numbers across registrations, app downloads, top-ups and more. We told you that Electroneum has real, every day, people as users, and not just cryptocurrency enthusiasts. A huge number of ETN users are unbanked and ETN is adding real utility to real lives.
During Phase One, we successfully launched AnyTask.com – a platform that empowers the unbanked to sell digital tasks to a global audience of buyers. AnyTask allows anyone, anywhere, to earn some ETN. As of May 2020, AnyTask already has over 220,000+ registered users from 100+ countries able to buy or list tasks. There are also over 3,500 digital tasks listed for sale.
With AnyTask in place, we have ended the reliance of users on ETN rewards, which leads us in to the next, even more exciting phase of Electroneum. The creatively named “Phase Two”.
2. ETN mobile rewards comes to an end…
With the launch of AnyTask, we’re providing a way for users to earn ETN and we announced today that the highly successful ETN mobile reward system has come to an end. We no longer want users to rely on free ETN. They now understand that ETN has a value, and they can earn it by performing digital tasks on AnyTask.com.
If you liked getting ETN – don’t worry! It’s easy to earn even more ETN and make use of it to top up your mobile phone airtime and data.
Simply visit the AnyTask log in link within the Electroneum app and you’ll be logged straight in to AnyTask. You can earn ETN directly by completing digital tasks and we have customers around the world ready to buy your skills.
What will happen to my pending balance?
Don’t panic – any pending reward balances that were eligible will be transferred to you – even if they have not reached the 100 ETN payment threshold. All eligible payments should be made to your ETN wallet by the end of May 2020.
Why has the mobile reward system ended?
Since our launch in 2017, we have been working tirelessly to successfully complete the first phase of our plans… large network adoption. We’ve achieved incredible numbers – and now it’s time to focus on sustainable ecosystem development.
3. Phase Two to be even bigger and better
We are launching some exciting and wide-reaching ways to use ETN, as well as two new platforms to help drive the adoption of ETN. We also have some great new ways of driving tens of thousands of new buyers to AnyTask.com.
These exciting new projects will help us achieve our goals to help end financial exclusion, by providing users with the tools to succeed. We’re creating real-world ecosystems, where ETN is making a difference.
We want to put our real-world ecosystem at the heart of what we do and with this in mind, users will no longer be able to collect ETN Rewards or Referral Rewards, but can instead maximise selling opportunities on AnyTask.com. Anyone, from anywhere, can earn an extra income by selling digital skills. If you have not already, sign up to become a seller or buy a task today!
Phase Two sees the launch of some new ETN associated platforms to help increase the adoption, integration, and usage of ETN in communities.
With our army of ETN supporters, we can now move into Phase Two with some very exciting announcements:
Utility top-ups (launching Summer 2020)
As ETN adoption continues to grow across the world, we’re always looking for new ways for our users to spend ETN. In 2019, we introduced the ability to top up mobile airtime and data directly from within the Electroneum app. That service is now available with hundreds of operators across more than 140 countries. Utility top-ups were, naturally, our next step.
Run out of electricity? You’ll soon no longer need to travel to your nearest shop and queue. You’ll be able to top up your prepaid electricity meter from within the Electroneum app, using your ETN. At launch, we’re supporting major electricity suppliers in Nigeria, Mali, Gambia, and Senegal, including Nawec, Senelec, and EDM. Utility top-up is an exciting next step for Electroneum and its users. ETN adoption, as a result, continues to grow rapidly. We plan to expand utility top-ups to many more regions.
The ability to top up utilities makes earning ETN even more attractive. With zero seller fees and no costly remittance fees, AnyTask’s freelance marketplace will undoubtedly continue to grow.
ETN Everywhere is now live!
ETNEverywhere.com is a global community of hundreds of businesses and merchants who accept ETN. The platform gives merchants an official business listing that can be searched for and viewed by customers, both locally and across the world! With ETN-accepting merchants across almost 200 countries, customers can search the online map to find businesses in their local area or that deliver products or services in their country, making it even easier to find ways to spend their ETN.
If you have a business make sure you are accepting ETN to attract new customers and grow your business, then add your business to the directory and join a global network of merchants. It is simple to do – just log in to ETN Everywhere and complete the easy form with your business information and we’ll do the rest! The platform is also packed with free resources that could help support your business:
- Personalised posters to attract ETN customers to store
- Social media generater to create professional looking posts for business pages
- eCommerce plugins, so customers across the world can spend ETN online
What are you waiting for? Whether you are a business looking to grow and succeed, or a customer with ETN to spend, ETN Everywhere is the next step making the most of ETN.
ETN Donate is now live!
ETNDonate.com empowers the crypto community to make vital donations to selected NGOs/Charities, to make a difference around the world. By giving our handpicked charities the opportunity to accept donations of ETN, each charity is accessing a completely new way to fundraise. We are passionate about helping our NGOs/Charities to increase their donations, especially in these uncertain times we are all facing.
With validating nodes run by NGOs, we’ve been able to massively reduce our blockchain electricity requirements compared to most cryptocurrencies, and make the network safer from threats.
As well as earning ETN from the block reward (in the same way bitcoin miners earn bitcoin) our NGOs can also be showcased on our donation site. This encourages them to come forwards and tell the world they are part of the Electroneum project.
The platform is a designated area for the NGOs/Charities that we work with directly to showcase their fantastic initiatives and for other NGOs/Charities to come on board that wish to accept ETN in donations. To date, we have a number of NGO/Charities that are receiving ETN Block Rewards and some of these will also feature on ETN Donate.
Why not do something great and donate some ETN today?
4. Token Economics & ETN Token Inflation
By ending ETN mobile rewards, we have reduced our token inflation from nearly 9% per annum to just 4.1% right now. We have a planned blockchain fork scheduled for July, to reduce our block reward to 2% token inflation. This is important for Electroneum to be in line with the top projects, such as Bitcoin (1.8% token inflation) or Ethereum (4.49% token inflation rate).
5. Electroneum advertising campaign
I’ve said a couple of times in the past that I thought we were ready to launch an Electroneum brand building campaign, but I did not action it. I will explain why…
There are loads of cryptocurrency projects out there that run ads shouting about what they are GOING to do, and 99% of these are hot air. It was important to us as a business, and to me personally, that we were shouting about our SUCCESSES and not a list of wishes and hope. We have told everyone what we are doing and we have ALWAYS delivered. Sometimes a little late (my apologies) but whatever obstacles are in our way, we always find a way to deliver. We have now built one of the very few cryptocurrency ecosystems that actually delivers a real tangible benefit to real users. This is fully demonstrable and LIVE. The numbers of top-ups, app installs, app to app transfers and many other stats have been verified by a trusted third party and should be published and confirmed this month. I think we are probably one of the first, if not the first, cryptocurrency that has welcomed in a third party to look at our processes, take a deep dive into the stats and understand that everything we do is real.
Cryptocurrency (and more specifically, ETN) is a real solution to a world problem. It is now live and functional, and case studies are being published of how it is changing real lives.
Now we are ready to proudly run a campaign and tell the world about our successes. I look forward to introducing new people to what we’ve achieved, and to re-awaken interest that had lost patience with our project.
6. My ANON Summit speech
Congratulations for making it this far down my somewhat epic lengthy email, and at this point I will offer you the opportunity to take 30 MORE minutes of your valuable time to listen to my Anon Summit keynote speech. The ANON Summit had over 7000 attendees! The speech is entitled “Does crypto adoption drive the market or does the market drive crypto adoption?“ We are one of the very few (if not the ONLY) cryptocurrency that has a huge insight into this. Most cryptocurrencies are only used by crypto enthusiasts. ETN is used by real people. Hear how we can see how the market effects even unbanked users in Sub-Saharan Africa! You’ll be amazed by how much influence the market has on our mobile airtime top-ups. People in the developing world are extremely savvy! Hear more of what I have to say on market adoption here.
We are super excited to get Phase Two under way and start expanding the places to spend ETN and much, much more.
As always, thanks for being part of the Electroneum Community!
CEO and Founder of Electroneum