TEMTUM AND ITS WAY OF ENSURING A BETTER FINANCIAL SYSTEM (POS PAYMENT SYSTEM)

emmy92 (42)in #blockchain • 5 years ago

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In every platform or sector in the world, there are characteristics which investors or users will see and continue using the platform etc. For example, in the e-commerce industry, they make the buying of goods and services easier for mankind thus the reason it is one of the fastest-growing industry in the world. In the same way, in the financial industry, users can initiate transactions easily with their payment cards which can be Visa, MasterCard etc. From this, it is evident that the reason these industries keeps growing is that they are making life easy for humanity. With this in mind, there is a fast-growing industry in the world too which is disrupting status quo while setting new heights, and this is known as the blockchain space. One thing that makes blockchain technology so unique is that it can work perfectly in any system, platform or Industry so far the adequate team of developers are behind the wheel.

Like earlier stated, blockchain can work in many industries; by making reference to the financial systems (in this case payment systems), a blockchain platform known as Temtum aims to enhance the financial systems while making it more convenient and safer for users to carry out transactions.

Temtum is a blockchain network made up of Temporal technology and Quantum randomness technology, thus being able to have a cryptocurrency (TEM) while setting new heights in the blockchain space where speed, security, scalability etc will be the order of the day. From this, it is evident that Temtum aims to be the most used cryptocurrency in the world as it will be adopted into mainstream payment systems while being used by users in any place in the world.

The question now is, what steps is Temtum taking to ensure a better, convenient and safe payment system for users?

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TEMTUM AND THE PAYMENT SYSTEMS

To begin with, Temtum aims to offer a better payment solution (in Point-Of-Sale) so as to set the path to blockchain and as such cryptocurrency adoption. Temtum team believes that it is far better to build its blockchain network to the extent it can easily be incorporated into conventional payment systems while coexisting with other fiat currencies in a transparent and accountable way. From this, it can be seen that Temtum aims to target payment gateways and financial institutions at the same time will not cause a change in fundamental process already existing be it in the retail stage while transactions are still carried out the way they are meant to; but in this case, in a more better way which will cause adoption.

In a bid to ensure Temtum blockchain becomes the first to offer a cryptocurrency that can easily be integrated into a payment system like POS (Point-Of-Sale), it means that there is a need for;
a. Speed which can beat the current payment systems,
b. Security which will ensure users transaction details are safe,
c. Scalability which will ensure the blockchain is always working at optimum performance.
The end result of these is, users will easily spend their cryptocurrency (TEM) via leveraging existing payment systems while in reality, they are benefiting from the less cost and convenience associated with blockchain technology.

Furthermore, by making users or consumers to use TEM they will be exposed to benefits such as being in possession of a coin which holds value across any part in the world while transfers can be done without cost.
In addition, with TEM, when users want to split a bill, it is free and instant.
In the same way, TEM is different because its transactions take only 12 seconds.

CONCLUSION

Temtum team are highly experienced, thereby believing in the future of cryptocurrencies where payment can be instant, feeless, secure and trustless without the need for any third-party during transactions, thus the essence of Temtum blockchain.

When compared with other cryptocurrencies, TEM stands out, as it is built to be used in everyday life endeavours, hence the reason Temtum is built to leverage existing payment systems without changing nor modifying the system in question. The merchant whom consumers are buying from will not be aware that Temtum is being used, because Temtum blockchain will use the NFC capability within smartphones thereby interacting with POS terminals, which are growing in developed economies, in the end, they are paid in fiat.