Mobilum company was established in January 2018, and the first released Whitepaper called V1 on April 2018. Though it all started way back in the 1990’s and in 2000 they had their first hand involved in electronic wallets. Now it has become a global payment platform.
Wojtek Kaszycki who hail in Poland is the Mobilum CEO & Founder, he is also a Business Consultant and Advisor, apart from being an investor he is also a Blockchain Technologist Evangelist.
How does Mobilum platform work
This company act as a platform to convert cryptocurrency to fiat money. It further connects the cryptocurrency that one owns to with the existing payment card. This dependence means Mobilum does not issue their payment card, and that the digital currency can be easily converted anywhere payment card is accepted, this can be a credit card, debit card or even prepaid card. This property makes spending crypto much easier and fully liquid asset.
Furthermore, the platform enables spending enables cryptocurrency even when it is offline. These are done quickly with the help of the Mobilum app, and this app is available for Android and iOS. On July 2018 it has paid partnership with cryptoGEEKS.
Mobilum also helps in defending any illicit activity such as money laundering. The markets of Mobilum which enable fast and easy availability to reach out to many users.
Use of Mobilum Token
Mobilum also issues a token MBM. This MBM token process every payment, and it is also an important access point for membership platform. MBM is an Ethereum based token.
Like all ICO, Mobilum company also creates digital tokens or coin and sell it to the investors. An ICO is used by many companies to raise capitals through cryptocurrency.
The easy part in acquiring this token is that the users can automatically buy them from the market instead of buying the MBM individually or separately. The Mobilum Whitepaper reveals that “The Mobilum Smart Contract is set to purchase tokens for at least $0.2USD per 1 MBM.”
With Mobilum token there are eligibility criteria. First of all, as the Mobilum Whitepaper wrote, token sale participants are not allowed to come from the USA, China and other countries on “Gibraltar” sanction list, apart from this, passing identity verification and the source of funds checks are needed to be eligible.
Like all transaction take a fee, this ICO or Initial Coin Offering token Mobilum use require a fee for access and transaction. For conversion to take place, one must hold at least 0.5% of the conversion value in MBM token as a conversion fee. These fees are all the same in the everywhere Mobilum takes place.