Electroneum explains the importance of CryptoUK, gaming, and AnyTask

Electroneum explains the importance of CryptoUK, gaming, and AnyTask
HeadlinesSignalsElectroneum explains the importance of CryptoUK, gaming, and AnyTask

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Electroneum explains the importance of CryptoUK, gaming, and AnyTask

Published on November 20, 2020 05:18 GMT+0

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Launched in March 2018, CryptoUK is the UK's trade association representing the digital asset sector. Its members – Coinbase, Binance, CryptoCompare, Ripple, eToro, Simmons&Simmons, and now Electroneum – share the belief that crypto and digital assets can help enhance the way society undertakes financial transactions, to the benefit of consumers, business, and security.

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The membership is hugely significant to Electroneum and its community. It provides them with confidence that the cryptocurrency they support has full recognition from some of the industry's most influential blockchain projects and experts.

As an executive member, Electroneum will work with CryptoUK and its fellow board members "we are working to help educate policymakers and regulators about the crypto and digital asset industry, and working with them to develop a balanced and fit-for-purpose regulatory framework for the UK."

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The trade organization aims to work with policymakers and with each other to ensure the UK fulfills its potential to be a global leader in this disruptive new industry, as CryptoUK states on its website.

Speaking of importance

AnyTask is at the ground floor of an industry predicted to grow exponentially in the next few years. Currently, there's an average of about 110 million online freelancers worldwide. Experts estimate that by 2025 that number will grow to at least 540 million.

These freelancers will add an estimated $2.7 trillion to the global gross domestic product (GDP) by 2025, according to a McKinsey & Company report. Currently, the online freelance market is worth about $750 billion.

"Electroneum has built the crypto industry's most unique ecosystem that, for the first time, enables people banked and unbanked to earn ETN via their global freelance platform AnyTask.com, and by accepting it as payment for products and services," said CEO and Founder Richard Ells.

No other cryptocurrency has built an ecosystem even close to Electroneum, a feat that puts the UK-based startup at the top of innovation, sustainability, and social impact within the industry.

Electroneum's ETN is the first crypto you can earn even without a bank account and the first to introduce in-app mobile phone and electricity top-ups. Currently, our 2.72 million app active app users can top up their phones or those of friends and family in over 140 countries. Electricity top-ups are available in four nations – Nigeria, Senegal, Mali, and the Gambia – and gradually, more countries will go live.

AnyTask freelancers appreciate the value of a real-world crypto ecosystem. They have expressed themselves this way in recent interviews with our marketing team, all of which you can find in our Seller Testimonials section of our AnyTask newsroom.

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But as an example, Nigerian freelancer Joseph Ogechukwu – Qikfingers on AnyTask – said he uses the ETN he earns to purchase top-ups from the comfort of his smartphone, saving him time and money he previously spends on going to a shop for a top-up. "I also use my ETN for electricity top-ups. I no longer have to travel miles to a shop as I can top up from within my Electroneum app."

Nikola Bobetic can now cover his expenses, including school fees, with the ETN he earns on AnyTask. And even more exciting is that he was able to purchase a 3D printer with his AnyTask income, enabling him to expand his freelance offerings.

READ: Find out why buyers of online freelance tasks are switching to AnyTask

"There are many more of these cases where we are so encouraged to see we are genuinely making a difference in the lives of many freelancers," said Mr. Ells. "Buyers are also experiencing the benefit of finding global talent that is passionate about what they do. Many of them have said they will now only use AnyTask."

Gaming is still a priority

Mr. Ells explained that in line with Electroneum's original white paper, "We are still pursuing partnerships and agreements in a bid to add more use cases for gamers with ETN. However, our primary focus is ensuring we achieve our goals with AnyTask."

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The online freelance market represents a much more attractive business opportunity. There are currently about 150 cryptocurrencies involved in gaming, which means this sector is highly competitive. In contrast, no cryptocurrency is presently engaged in online freelance as a business.

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Also important to note is that the gaming market is much smaller than the online freelance sector. Reuters recently reported that the global gaming market would generate $159.3 billion in revenue in 2020. Estimates predict it will grow by 9.3% yearly to about $200 billion in 2023. According to another report, the online gambling sector could increase to $103 billion by 2025.

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More app downloads and newly registered users

With nearly 3,450 new registered users this past week, Electroneum now boasts more than 4.082 million registered users. And with new and existing registered users downloading the Electroneum app, there are now a total of 2,720,461 active app users.

This number is expected to increase even more dramatically as Electroneum adds more use cases already in the process of integration.

AnyTask is also booming in terms of user numbers. The global freelance platform now has just under 570,000 registered users. There 14,000 active freelancers with over 25,000 tasks listed across dozens of categories and subcategories.

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This number is also expected to increase exponentially as Electroneum's marketing team continues to expand on its advertising campaign, including TV ads across the United States and immediately after, around the world.

Updates from the team

Head of Blockchain Chris Harrison said his team is working on new consensus models for block validation. He also said he has begun to build a new internal wallet and back-end systems that would enable subaddresses. "We are also looking at the possibility of doing a PayID integration.

HR Manager Mike Jennings gave an update on what is happening on the side of recruitment. "We are currently in the hiring stage for a marketing coordinator, and interviews have commenced," he said. "We also have several interviews being scheduled for our PHP campaign. And we have a new devs team member who is scheduled to start on the 2nd of December."

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