Richard Ells
CEO
Electroneum
Electroneum operates a Layer 1 EVM-compatible blockchain that facilitates low-cost, instant cross-border transactions and enables users to earn cryptocurrency through the AnyTask™ platform, which connects buyers and sellers for digital tasks without requiring a bank account. This approach addresses the financial exclusion of over a billion unbanked individuals by providing them with accessible digital payment solutions and opportunities to participate in the global digital economy.
- Blockchain & Cryptocurrency
- Financial Technology
- Software Only
Updated 7 months ago
Funding
Raised to date
$40MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Funding rounds are not available yet.
Founders
Product
Problem
Over one billion people worldwide are excluded from the traditional financial system, lacking access to basic banking services and digital payment methods. This financial exclusion limits their ability to participate in the global digital economy and engage in cross-border transactions.
Solution
Electroneum operates a Layer 1, EVM-compatible blockchain designed to facilitate low-cost, instant cross-border transactions, aiming to provide financial inclusion for the unbanked. The Electroneum app provides access to an online wallet where users can manage their ETN, send payments to others, and generate QR codes for simplified transactions. The AnyTask platform, integrated within the Electroneum ecosystem, enables users to earn cryptocurrency by selling digital services, without requiring a bank account. Electroneum voluntarily introduced KYC and AML compliance procedures, and its Moderated Blockchain, powered by Proof of Responsibility (PoR), is designed to be insusceptible to 51% attacks.
Target Audience
The primary target audience includes individuals excluded from traditional banking systems, particularly in developing countries, and those seeking accessible digital payment solutions and opportunities to participate in the digital economy.
Features
- ETN App: Manages ETN online wallet, facilitates payments, and generates QR codes for transactions.
- AnyTask Platform: Connects buyers and sellers of digital tasks, enabling users to earn ETN.
- Layer 1 EVM-compatible blockchain: Facilitates low-cost, instant cross-border transactions.
- Moderated Blockchain: Employs Proof of Responsibility (PoR) to enhance security and prevent 51% attacks.
- KYC/AML Compliance: Voluntarily introduced measures to ensure regulatory compliance.
- Mobile and Utilities Top-ups: Allows users to pay for everyday essentials.
- ETN Everywhere: Merchant directory to find where to spend ETN locally and online.