Telcoin is a new cryptocurrency based on the Ethereum blockchain that will be distributed by your national telecom operator and made available to everyone, anytime, anywhere. This is the core of our business, and mobile network operators will be at the center of our strategy. Telcoin is the first cryptocurrency to tap into synergies between the reach of mobile telecoms and the fast, borderless nature of blockchain technology. According to the World Bank, there are nearly five times as many mobile phones in the world (5 billion), as there are active bank accounts (1.2 billion). It's a lot easier to access mobile phone services than banking services, and we aim 1 to capitalize on that disparity. Telcoin will initially focus on the remittance market, currently dominated by large players like Western Union. elcoin issuance to telcos will occur at a rate of 5% annually for a period of 10 years following the ICO, distributed to GSMA mobile networks continuously based their stage of Telcoin integration.