Three years ago, successful British serial entrepreneur Richard Ells launched Electroneum with a vision for a mobile-based cryptocurrency that could help end financial exclusion.
He and his team launched an ICO in September 2017 that exceeded their expectations by selling over $40 million of ETN tokens, and becoming the largest in crypto history by the number of participants – more than 115,000.
Today, Electroneum marks its third anniversary with nearly 4.1 million Electroneum users who have completed millions of ETN blockchain transactions, including app-to-app transfers and mobile airtime and data top-ups.
And as one looks back at the level of adoption and most significant achievements, Electroneum and its community celebrate how far the UK-based cryptocurrency startup has come since 1 November 2017, the day of its inception.
Ahead of the curve
Richard Ells takes a look back at how Electroneum became the first crypto to enable the unbanked of the world a way to earn ETN and the only crypto to have the foresight – over 24 months ago – to build a KYC/AML system in advance of regulatory requirements.
“Two years ago we predicted this being important to the FCA at some point in the future and wrote a KYC/AML system a full 24 months before it became a legal requirement, ” said Ells. “And once the UK financial watchdog implements cryptocurrency regulations – they are well on their way – we will be the one crypto that is the obvious choice for this massive new market sector.”
Ells explained how his award-winning crypto project had become the first cryptocurrency to unlock the global digital economy for billions of unbanked and financially underserved, as well as for freelancers who were facing too many struggles on other leading freelance platforms.