temtum Launches Decentralized Text Message Payments
- Posted in Transactions
temtum, the quantum-secure, efficient, and carbon-neutral cryptocurrency network capable of 120,000 transactions per second, announced the launch of its SMS payments system. As the first decentralized, network-based SMS payments solution, temtum allows anyone to send cryptocurrency instantly via SMS, with no fees and no need for a smartphone. temtum’s SMS payments allow the estimated 1.7 billion unbanked people to share funds directly, without third-party oversight.
To sign up, a user need only access the internet once to create a free temtum web wallet, add funds, and link their phone number. Once the user confirms their phone number via SMS, they can send temtum—the network’s cryptocurrency—to anyone else with a mobile phone number. If the recipient does not have a temtum web wallet, the funds are held in a ghost account on the blockchain until they’re able to access the internet to sign up for a web wallet. Once they sign up for a web wallet, their funds instantly appear. Users can also send SMS messages to find out their account history and wallet balance.
temtum’s SMS payments have zero embedded transaction costs and extremely secure, with two-factor authentication and private passwords that are not stored by the network. While other SMS payment systems rely on third-party payment processors, temtum’s SMS payments are network-based and decentralized on temtum’s Temporal blockchain. This protects wallet holders’ funds and transactions from the oversight of corrupt banks and politicians.
“You shouldn’t need a smartphone to use cryptocurrency. We developed temtum as a decentralized network that requires almost zero computational resources or infrastructure. With temtum SMS payments, anyone can send and receive cryptocurrency with no fees and nothing more than a phone number,” said Richard Dennis, Founder and CEO of temtum. “While many others have worked to develop this type of technology, we’re proud to be the first with a fully functional, decentralized, network-based SMS payments solution ready for users to adopt worldwide.”
