Home » News » CryptoCurrency » CryptoNews » Innovative Cloud Mining from Electroneum Will Increase Financial Inclusion in the Developing World

Innovative Cloud Mining from Electroneum Will Increase Financial Inclusion in the Developing World

When they launched the world’s first mobile cryptocurrency app in March 2018, the developers at Electroneum (ETN) saw millions of users rushing for the download button in a bid to get their hands on a tool which has revolutionised online transactions. With no sign of that enthusiasm slowing and in a huge, progressive leap, Electroneum has also gone live on the iOS operating system, meaning millions of Apple users will now be able to receive the same service their Android counterparts already enjoy.

The announcement has been rapturously welcomed by the crypto community and is fantastic news for Electroneum’s already massive global customer base. By branching out and reaching more devices, Electroneum is transforming mobile economies and giving mobile network operators much-needed additional revenue streams and growth. What sets them apart, however, is the way in which they are helping those who are otherwise financially excluded, giving up to 1.7 billion ‘unbanked’ people access to their most advanced online transaction system. Users everywhere will now be able to take advantage of the cloud mining system to start acquiring, sending and receiving cryptocurrency from wherever they are on the planet, with the world’s fastest and first KYC/AML compliant cryptocurrency.

Cloud Mining Means Financial Equality

Put simply, ‘cloud mining’ is the process of mining cryptocurrency from the cloud. Electroneum was founded with financial democratisation in mind, aiming to open up the crypto world to as many people as possible across developed and developing countries.

The Electroneum mobile model differs significantly from other forms of crypto mining, as CEO Richard Ells explains:

“This is, in effect, an easier and more straightforward way for people to get cryptocurrency onto their mobile phone. They can simply start ‘mining’ it by interacting with our app.

“The last version of the app we launched relied on a user’s device being connected to the internet all the time, and we know that connections can be very temperamental in developing countries. With cloud mining, our servers are connected to the internet and all the user needs to do is touch base with them once a week and their phone will still be mining in the background even if it’s switched off. It is also been critically important as Apple have now agreed to allow cloud mining giving us the ability to launch an iOS app.”

A More Human Approach

With many more companies trying to muscle in on the cryptocurrency market, few look to have a future quite as promising as Electroneum. Even before it managed to break into the iOS market, the app had already reached millions of users worldwide and download figures continue to rocket upwards month on month. Its popularity is not simply down to the ease and convenience of use, but owes something to the fact that the company is making a tangible difference to those living in some of the world’s poorest nations.

In an era where companies are coming under ever greater scrutiny for their corporate social responsibility, Electroneum is a leading light. Far from being an impersonal experience, cloud mining through Electroneum is designed to have a more human feel to it and the company makes clear they are passionate about helping those who live in developing nations.

“This is about people’ says Ells “we encourage our users in developing countries to download the app, mine cryptocurrency and spend it in their local economies. Access to the global digital economy via ETN can help inject much-needed funds which can enable these communities to grow and thrive.
We’re adding value in the places it’s most needed.”

Cryptocurrency is one of the fastest growing industries, already worth more than $3 trillion worldwide. With an estimated 1.7 billion unbanked or underbanked people around the globe, the promise and possibility of mass cryptocurrency adoption may finally be within reach. Of the many apps on the market, none are generating the same levels of interest and excitement as Electroneum. With this incredible leap forward, Electroneum have completely changed the crypto landscape and given the crypto community something to celebrate.

Join us on our new LinkedIn page

Follow us on LinkedIn