Telcoin’s official slogan is none other than “send money smarter” - that motto is easily justifiable since the mission of Telcoin is to eliminate the greater part of hassle their clients experience on the daily basis. The problem Telcoin is trying to solve is: there are no fewer than five times more phones capable of making a money transfer than there are bank accounts; on top of that, regular bank transfers are unwieldy, slow, incur considerable commission and are not at all secure or transparent, with certain bank clients being made aware of the fact their information has been hacked days or even weeks after the incident took place. All of that is eliminated by the use of blockchain technology. Since all of the information is stored on the blocks, there is simply no way to hack it nor leak it. The smartphone application developed by the Telcoin allows the entire process to be as user-friendly as possible: a person can simply log in, put in the phone number they want to send funds to, and it will be done.