Electroneum
Crypto Overview
Understanding Intended Utility
Electroneum (ETN) was launched in 2017 as a mobile-first cryptocurrency designed to enable instant mobile payments, particularly targeting unbanked populations in developing countries. The project aims to facilitate mobile payments, digital transactions, and provide a platform for micro-tasks that allow users to earn cryptocurrency.
Business Model Analysis
The business model focuses on creating a mobile payment ecosystem that includes their AnyTask platform, which enables users to sell digital skills globally without requiring a bank account. The model appears compliant with Islamic principles as it facilitates legitimate trade and service exchange.
Real-World Adoption Assessment
Current adoption metrics show limited real-world usage compared to initial projections. While the project maintains partnerships with several mobile operators and payment providers, transaction volumes on their network remain relatively low. The AnyTask platform has shown some traction but hasn't achieved widespread adoption.
Token Distribution and Governance
The token distribution shows a relatively centralized structure, with significant control retained by the founding team. The project switched from Proof of Work to a proprietary Proof of Responsibility consensus mechanism in 2019, which gives the team considerable control over network validators.
Development Activity
Development activity has been consistent but modest, with updates primarily focused on their mobile application and AnyTask platform. The team maintains regular communication through quarterly updates and community engagement.
Crypto Impact
To assign a comfort level investing in Electroneum from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Electroneum.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.