Sending coins via SMS is not new, Bitcoin can do that already.
Anyway, it's useless technology IMO because we don't use SMS anymore. Instead of doing that kind of hobby experiment, it would be better to develop scalability, features, and useful apps on top of cryptocurrency.
I think the purpose is not something special other than giving the privilege of sending crypto easily without the interfere of Internet and the so called complexity of crypto although it is not complex at all. However, for some group of people it will be good since they do jot want to use crypto directly. With this method, people can easily send/receive money.