Electroneum introduced its crypto mining smartphone at the Mobile World Congress 2019 (MWC19) held in Barcelona as it aims at mass adoption.
The Synergy Between Mobile Innovations and Blockchain Tech
Electroneum, a British startup’s participation at the Mobile World Congress 2019 (MWC19) held sometime in February, used the opportunity to promote the firm’s goal of synergizing mobile innovations and cutting edge blockchain technology.
The Electroneum team launched its brand new affordable smartphone, the Electroneum M1, with a price tag of $80 at the event. The mobile device has two slots for 4G SIMs, two cameras, and 8 Gb of storage. Also, it allows its users to mine cryptocurrency with ease. Owners will be able to earn up to $3 per month in ETN and spend them to buy mobile traffic and other online goods from partner companies according to its developers. Other specs of the device are still unknown.
Also, during the MWC19, a show for the mobile and telecommunication industry, Electroneum struck a partnership deal with a South African financial service provider and virtual mobile operator, Unlimited. This partnership enables people to use their smartphones to send, receive, transfer, and earn cryptocurrencies. This does not require a bank account, but only a mobile phone. This feature may prove to be very useful to those who do not have access to banking services, especially in the developing countries where banking services are inadequate or not available.
Electroneum’s CEO, Richard Ells, while commenting on the new partnership says it offers mutual benefits and it equally helps to promote the vision of Electroneum.
“The deal that we struck in South Africa with the Unlimited has opened up huge doors for us as well in terms of our credibility and belief in what we are actually trying to do.”
Meanwhile, Electroneum has shipped batches of M1 to South Africa and is also now trying to get the device on Amazon’s marketplace. However, at this stage, the phone is not available to the public.
Electroneum is a British firm launched in 2017. The firm positions itself as a mobile-friendly cryptocurrency ecosystem that fosters mass adoption and targets the unbanked population of the world. The Electeoneum’s blockchain is built on the Monero (XMR) protocol which gives it some privacy features but not regarded as its competitive advantage.