temtum: Blockchain Makes Mainstream Sky News

Dr Gareth Owenson
Dr Gareth Owenson
08 July, 2019
  • Posted in temtum

On Monday 8th July 2019, founder and CEO of temtum Richard Dennis appeared on one of Europe's biggest business shows, Sky News’ The Ian King Show. This was a huge privilege for temtum and Richard, whilst seen as a massive step for the crypto industry having mainstream screen time.

The conversation topics were to the point, kicking off with why Bitcoin and cryptocurrencies were seeing returning sentiment and increased values over recent weeks? Clearly progress is being made in the industry with ideas becoming reality and next generation blockchain technology launching with fully constructed products rather than playing on hype. As institutional money recognises this progress, it’s making its way back in and the market is growing.

Facebook was early on the agenda for obvious reasons, where the threat of Libra taking over the crypto industry and removing the need for any other currency came up. Richard stated that actually what Libra is is a very different payment token and one that, along with bringing some mainstream news to crypto, is actually very different to the decentralised payment networks consumers need. Anything to do with Facebook now comes with Privacy concerns and now following a $5bn fine, are completely justified concerns.

temtum has been created to give back control to users, not take it away as Libra would do.

temtum is a peer to peer network that is not only usable on any device, but the blockchain itself can be run on these devices too. Be that a mobile phone or a tablet or even a car, the same device can be used to make payments, while traditional payment methods like bank cards will also be integrated.

For cryptocurrencies to reach mainstream use, they will need to be adopted by the right audiences and for temtum, this is seen as Gen-Z or digital natives. They crave the use of devices in every parts of their lives and temtum has been created from the ground up to enable that for them.

Quite rightly, questioning the speed requirements of a network to sustain such a payment mechanism is essential to fully understanding distributed peer to peer payments. Richard highlights that due to using such low resources, the energy consumption is low and the speed of the transaction is under 12 seconds - anywhere in the world. This makes the bandwidth requirements incredibly low.

Finally Richard announces the launch and roll out of TEM on the CoinAll exchange on the 17th of July 2019. See you all there! Thank you Sky News for having us.