FAQs: answers to Frequently Asked
Questions in Marocco
and insights for Sending Mobile Money Smarter
1. TELCOIN is a digital token. It is primary
designed to be sent easily over mobile phones and to cash-out through
mobilemoney platform at destination side, thanks to parterships with
Mobile Operators or with Mobile Financial Services providers.
2. A digital TOKEN is a digital unit which can be
exchanged simply between holders of digital accounts. Some value can be
attached to digital token and may vary over time. You can purchase digital
tokens on-line , store them, transfer them instantly over any distance by
electronic mean, as well as convert them into other token or other
tangible values, units, coins, or fiat currencies.
3. Yes , transactions and exchange settlement in
TELcoin units are registred in a consensual and very robust way to
preserve known TELcoin token quantity and their intrinsic value, avoiding
unauthorized digital duplication. This is a major advantage of Blockchain
technologies, on the contrary to other methods used in traditional finance
and accounting with may allow unfortunately possible expansion and
progressive duplication of volume of units in circulation, endangering
intrinsic value of each unit... although the latest are methods sometimes
used by governement and central financial authorities for so-called fiat
currencies however (see Quantitative Easing, Helicopter money, etc, ;+)
4. From a TECHNICAL point of view, TELCOIN is an
ERC20 digital token, which transactions are operated and guaranted by
Ethereum protocol and registered in a unique and very fast way on a
universal ledger thanks to TELCOIN blockchain .
5. TELCOIN as a company, is registered as TELCOIN
PTE ltd. in Singapore. TELCOIN PTE ltd is the issuer of TELCOIN tokens.
editor and operator of the TELCOIN blockchain and does manage, support,
and garantee its daily operation. Telcoin staff and international team, is
based in their head office in Tokyo, Japan, and operates at international
level from there thanks to pro-cryptocurrency environment in Japan.
TELCOIN PTE ltd is the issuer of TELCOIN tokens.
6. TELcoin token can be TRADED on online platforms
named EXCHANGEs
, which guarantee access to the token, availability in volume aka
liquidity, and more importantly , its instant interoperability with so
called "fiat" currency systems and financial systems worldwide, and
support 24-hours a day trading.
7. It is possible to STORE your TELCOIN tokens
online with a web account on EXCHANGEs , or directly through any basic smartphone
after installation of the dedicated intuitive TELCOIN mobile app available
for Android and iOS. TELCOIN tokens can be also stored under a physical
manner, also named cold storage.
8. To obtain or receive TELCOIN tokens, you need an
electronic wallet dedicated to the TELCOIN token, with unique electronic
address for its identification. You can freely obtain such electronic
wallet by various manners.
9. You can ask your mobile money Operator as he
might have already included telcoin electronic wallet in his mobile money
platform for your access to international remittance. Alternatively, you
can freely create an electronic wallet associated to your mobile phone
number provided it supports Android or iOS. This mobile wallet would be
managed by TELCOIN PTE Ltd.
10. You should then download and install first the
official mobile app for TELCOIN on your smartphone. When you first launch
the TELCOIN app, this will create free of charge your TELCOIN mobile
wallet, associated to your mobile number in its international format
(MSISDN).
11. Activation Code definition : in the case of the
mobile TELCOIN application, it is the code sent to you over SMS by TELCOIN
as soon as you install the TELCOIN mobile app on your smartphone . This
code to be entered at first activation of your mobile TELCOIN wallet,
enables unique association of your mobile telephone number (your MSISDN) ,
with your new TELCOIN electronic account created identified by a unique
Wallet address.
12. Wallet Address : this is a long and unique chain
of characters that identifies in a unique way a digital account capable of
holding TELCOINs. Credits or debits of TELCOIN tokens, use ETHEREUM
blockchain technology to register in a general ledger, the two wallet
addresses that are involved within each Telcoin transfer, between one
originating wallet to one destination wallet.
13. Secret code : it is the unique 5-digit code that
you register-in on TELCOIN mobile app after activation of your account.
You should memorize and never forget your secret code entered, as it would
be requested later next time to allow you to securely access again to your
TELCOIN account associated by TELCOIN to your mobile number. User
therefore needs this secret code to be allowed by the mobile TELCOIN app
to debit and send TELCOINs from his mobile account which holds his
TELCOINs token.
14. CASH OUT : this is the operation of converting
an electronic token into local fiat money, typically into the national
currency in use locally. You can typically cash out in Marocco at any of
the INWI Money agents, the mobile wallet that already accepts remittance
from TELCOIN token. You can visit and ask your nearest Mobile Money agent
nearby wether he already supports money remittance by TELCOIN
international transfer
15. Mobile Money : a digital token generally
distributed and exchanged by the mobile operator between mobile electronic
accounts attached to the mobile phone number identifying the subscriber on
his mobile network. This token is managed under his mobile telecom license
and under an electronic money licence in the said country. In some
countries, due to legislation it might be real specific bank accounts that
are directly accessed by the mobile money operator to perform mobile money
operations. Units and subdivision of Mobile Money in a given country are
expressed in same units and subdivions of the national currency used in
the country. Each Mobile Operator guarantees, supports and monitors any
payments made by, or transfer between, its subscribers with such mobile
money tokens. Each Mobile Operator guarantees as well, any exchange
anytime between his Mobile Money tokens and the national fiat currency.
Generaly this is performed in relation with a regular financial authorised
body, like a partner Bank, under an agreement signed between the mobile
operator and the financial partner in accordance with financial regulation
in the said country.Some mobile operators did also acquire a banking
licence themselves.
16. Mobile money platform : this is a Software
system for mobile digital token management which is generally integrated
into the telecom network of a mobile operator. Mobile Money Platform
enables mobile telco to perform credit and debit operations of electronic
tokens on electronic accounts which are uniquely linked to individual
mobile phone number and the user identity registered for that mobile
number. Mobile Operator handles the Exchange and interoperabilty between
his digital token and the counterpart in local currency. Mobile operators
are in charge of KYC and AML process in relation to the mobile money
account granted to their subscribers. In some countries the mobile money
platform might be directly interconnected to the Core Banking System from
a partner Bank. Well-known examples of mobile money platforms from mobile
operators are named m-Pesa, Mtn Money, Mobiflouss, Mobicash, Orange Money
, INWI Money. In Marocco, Orange and Maroc Telecom are about to launch
their Mobile Money platforms typically aka Orange Money. Inwi Money is
also already available in Marocco as a Mobile e-Wallet compliant with
Mobile money payment services.
17. Cash out into Mobile Money : Users of Telcoin
mobile wallet have the possibility to directly receive in their Mobile
Money account managed by the operator, the amount of value expressed in
the national currency and corresponding to the value of the number of
telcoin tokens received on their mobile , calculated at the rate of
exchange between TELCOIN and local currency. Some service fee may apply
from the mobile operator for local conversion at destination. INWI Money
wallet could soon accepts in Marocco, TELCOIN conversion into DIRHAM. You
may ask directly your nearest Inwi Money agent on how to benefit from
international money sending using TELCOIN token for remittance.
18. Sending Money : International Money Transfer
using Telcoin token is very fast, within seconds. Transfering TELCOIN
token between TELcoin accounts might not be restricted by laws in any
country, and both sides can use official TELCOIN mobile app to send
TELcoin tokens to Friends and Family abroad or to any registred user
simply using receiver's mobile phone number as the destination address for
transfer. Cashing out TELCOINs into local currency has to be compliant
with local regulation of money exchange or mobile moeny on one hand.
Cashing out TELCOIN token into regulated Mobile Money Platforms operated
by Mobile Telcos is safer and smarter way to cash out in full compliancy
with local regulations. Ask your local operator or its Mobile Money Agents
how to convert your TELCOIN token into mobile money. In Marocco , xxx is
also the first Mobile Wallet to already integrate TELCOIN. Check
your xxx account or ask your nearest Inwi Money agent down the
street. Any user can also download TELCOIN mobile app on its smartphone to
send and receive TELCOIN tokens.
19. Remittance : international money transfer from
one country to another country, done by a person to the benefit of another
person, generaly a family member or a friend abroad. Costs and delays of
incumbant international remittances are high. When not using TELCOIN
token, it may take a long time before receiver can practically cash out at
a local agent shop. For DIRHAM remittance, INWI in Marocco might allow
direct cash out of TELCOIN token received into the mobile wallet .
20. Sending Money Smarter to Marocco : purchase
TELCOINs and send some of them instantly to your Friends and Family
in Philippines using TELCOIN mobile app, or #TELCOIN .
You can now send some TELcoins to your Friends and
Family mobile numbers worldwide !
-If they do not have a wallet for TELCOINs yet,
they can download the TELCOIN APP upon being notified of pending TELCOINS
reception !
-If you already hold some bitcoins or other
altcoins, convert
some into TELCOINs if your Exchange now support TELCOINs, and
deposit them directly into your new TELCOIN wallet address attached to
your mobile number as seen above.
-You can also always open an account online at some
known independant EXCHANGES
which support TELCOIN token and already trade them against BITCOIN,
ETHEREUM, or other altcoins. By doing so, you can then send TELCOINs
directly into any TELCOIN mobile wallet which address is attached to a
mobile number as seen above.