British Royal Mint Has a Hand in Latest Mobile Payments Advance, temtum Cryptocurrency

July 17, 2019         By: Steven Anderson

The UK has been synonymous with finance for centuries, and increasingly, it’s also becoming a major hub for mobile payments operations as well. With a long-standing history of financial operations and a growing presence in the latest fintech, a new report sent our way from temtum makes it clear that it’s also taking a role in the growing cryptocurrency market.

The word from temtum noted that the Royal Mint is not only storing temtum’s private crypto keys in its vault, but also had a hand in creating the temtum genesis block. The temtum currency was set to go live July 17 via the CoinAll exchange. The report also noted that the Royal Mint will permanently be the home of the private keys as well as its currency reserve.

The report described the development of temtum as being “similar to the creation of a physical coin and traditional fiat currency,” which makes temtum probably look just a little more attractive to the risk-averse side of the cryptocurrency speculation market. Additionally, temtum called on the Royal Mint to serve as a security advisor in the process as well, giving temtum a little extra edge in keeping its potential buyers safer than the ordinary going forward. This has generated a set of secure private keys that are kept with the genesis block at the Mint.

When you can comfortably invoke the Royal Mint in anything you say or do around your cryptocurrency, you’ve laid the foundation for a pretty impressive halo effect. The Mint has been operating for 1,100 years, at last report, so it goes all the way back beyond the American Revolution and even back before the North American continent was discovered. By Vikings. In about 1,000 AD. So it’s got a lot of history behind it, which means it’s survived a wide range of upheavals, yet continues to operate. That projects an image of security along with its history.

That puts a little extra note of faith behind the temtum release, and may well give it a chance to become one of the biggest new advances in mobile payments yet. Assuming, of course, anyone actually accepts it for goods and services. That might be the biggest indicator of how far temtum will ultimately go.