Categories: Bitcoin Business

temtum taps UK Royal Mint to store crypto private keys

Click here to view original web page at tokenpost.com
Tue, 16 Jul 2019, 05:51 am UTC

Crypto startup temtum has announced that it has used the British government-backed coin maker Royal Mint for issuing its cryptocurrency, temtum (TEM), according to a press release published on The Merkle.

As per the announcement, the financial institution will serve as the home of the temtum genesis private keys and currency reserve. Richard Dennis, temtum founder and CEO, worked within the Royal Mint to store the cryptocurrency’s private keys in its vault and create its genesis block.

There should be no gimmicks or shortcuts when it comes to security and we see working directly from the home of the UK’s creation of coins over the last 1000 years, as the only place suitable for the launch of a new currency that we believe will have a significant value globally in the years to come,” Dennis said.

Be your own voice. Start your own newspaper now.

At 2pm BST founder of @wearetemtum Richard Dennis arrived at the Royal Mint London to begin the formation of the genesis $TEM private keys.

These keys will be forever stored in the vault of the Royal Mint, a worlds first for a #cryptocurrency to be minted and secured this way. pic.twitter.com/GnC24cBCRU

— temtum (@wearetemtum) July 11, 2019

In addition, the company also introduced the Temporal blockchain, on which all transaction data of temtum will be written. The patented technology, which has been developed for 5 years, is said to surpass market-leading finance products, including VISA, Bitcoin, and Nano.

Our technology goes much further than simply making our code open source, our code has been tested and approved by Crest approved agency BSI, so you don’t need to be a cryptographer to know temtum is secure,” Dennis added.

The firm also announced its agreement with Hong Kong-based cryptocurrency exchange CoinAll, where TEM tokens can be bought, traded and used worldwide.

We’re excited to be working with temtum on the release of the TEM currency, it’s a cryptocurrency like no other and perfectly suited as the first on CoinAll Super Project, a distribution mechanism rather than a funding vehicle. Projects with a custom blockchain at the strength of Temporal, combined with a fully working network and backed by such a strong group of individuals, do not come around often,” a spokesperson from CoinAll said.

Described as a "new, lightweight, peer-to-peer cryptocurrency where anyone can support the Temporal Blockchain network, creating a new world of financial freedom away from centralised institutions," temtum is expected to go live on July 17. As per its white paper, the new coin boasts of a block confirmation speed of 12 seconds and mined at a rate of five blocks per minute.

The announcement comes as several crypto exchanges are starting to offer non-custodial crypto management platform. For instance, ShapeShift aims to provide services similar to custodians like Coinbase but without custody, meaning the users control their keys.

Online investment platform BnkToTheFuture also recently acquired Altcoin.io to build a compliant non-custodial security token exchange.

[The article is not intended to be an endorsement of cryptocurrency and does not constitute investment advice.]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

G7 To Investigate Bitcoin{BTC} And Other CryptoCurrencies

Source: Wikimedia The G7 meets next week to investigate regulations for Bitcoin and other cryptocurrencies. G7 To Discuss Bitcoin Next… Read More

51 mins ago

US Treasury Blackballs Bitcoin Addresses of Chinese Drug Kingpins

The US Treasury is blacklisting specific bitcoin addresses related to Chinese druglords. | Source: Shutterstock By CCN Markets : The… Read More

51 mins ago

Modex: How blockchain can solve the fake news problem

LONDON, UK - Media OutReach - 22 August 2019 -When Satoshi Nakamoto solved the Byzantine General's problem in 2008 by… Read More

51 mins ago

Unlocking the future of blockchain innovation with privacy-preserving technologies

The origins of blockchain as many are familiar with it today can be traced back to the Bitcoin whitepaper ,… Read More

52 mins ago

Maerki Baumann Why a Swiss private bank is embracing blockchain

Maerki Baumann decided it could not sit still and hope for the best. At a time of increasing pressure on… Read More

52 mins ago

World Bank picks up millions in latest blockchain bond move

In August of last year, the World Bank and the Commonwealth Bank of Australia (CBA) announced a new bond alternative… Read More

52 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More