/biz/ - Business & Finance

The guys behind altcoin temtum got a bunch of BMWs - hacked their entertainment systems to run a full temtum node then drove around and the cars were sending texts between them. Anyone watching TEM?

https://twitter.com/wearetemtum/status/1174446184506757120?lang=en

EM Mobile PoS payment solution:
We intend for any user with a temtum wallet to be able to make purchases using conventional payment networks, such as Visa for instance, with total transparency to the vendor who will see only a fiat money transaction. Yet all the advantages of temtum – for example, immediate international transfer of value – will still be available.There are a number of benefits for users (consumers) in adopting temtum as a mainstream form of payment. They include:

» The currency should hold consistent value across all territories and can be transferred internationally without cost.

» For peer-to-peer payments (for instance, if users want to split a bill with a friend), it’s free and near instantaneous.

» Transactions take just 12 seconds compared to hours-to-days with conventional bank accounts. In contrast to other cryptocurrencies, our goal is to enable the use of temtum for everyday purchases, for example at major retailers. Therefore, we have developed a process which uses existing payment infrastructure which requires no modifications. It uses the NFC capability on a smartphone interacting with standard POS terminals, which are in widespread use in developed economies. The merchant is unaware that temtum is being used. (A merchant always has, if they want, the ability to receive temtum directly into their wallet, but that is not the purpose here).The payment process can be as fast and convenient as payments using conventional currency