The goal of almost every crypto coin is to provide a decentralized alternative to current forms of money. The main part of making that happen is to achieve mainstream adoption. This entails the widespread use of cryptocurrencies as a medium of exchange for common goods and services. We can argue that retail adoption is the main driver for mainstream acceptance.
Transcendence team visited Aeguana in London
Founder of Transcendence blockchain and Teloscoin (TELOS), @pascalpapara & team was in London last week. There they have visited famous company Aeguana.com who produce various types of vending machines and distribute it worldwide.
This visit is marked as big step for Transcendence blockchain. An agreement to implement Teloscoin as a payment option in all possible Aeguana vending machines was made. This adoption will bring TELOS worldwide available and everyone who like to pay on vending machines with Bitcoin now will be able to do it with TELOS too.
But, not only TELOS! Bitcoin Subsidium (XBTX) that is Telos complementary coin are supported too.
How Aeguana vending machines work
It is notable to say that Aeguana is the first company that pushes the boundaries in alternative payments and develop a machine to support Bitcoin. Now other cryptocurrencies can be supported too and all with providing transaction time under 10 seconds.
Their vending machines are user-friendly, always connected and can interact with users in different ways. The best parts are alternative ways of payment where users can get a discount and other benefits.
In two weeks Aeguana will finish the implementation of TELOS and XBTX to their vending cloud system called “vendlife”.
Real testing will happen when one vending machine arrives in Germany. Transcendence team plan for this machine is to serve 400 employees from their neighborhood.
Possibilities are great and one that is certain is the creation of “vendcoin” (name subject to change), on top of Bitcoin Subsidium blockchain. Each machine can be represented by a sub-token where owners will get a revenue share based on the machine sales.
Currently, vending machines accepted TELOS and their owners can count on an exchange for Bitcoin, or crypto for crypto. But in order to make this implementation much more attractive to owners of vending machines, Transcendence team has been already working on obtaining the necessary licenses so that TELOS can be exchanged for fiat (USD, EUR) in compliance with all legal obligations. So, owners of vending machines will have the opportunity to exchange directly for fiat (USD, EUR).
In addition, with the licenses obtained, the opportunity for the realization of its own exchange platform arises. Transcendence had this in mind as well, so BITDORADO, the exchange platform of Transcendence blockchain, will also be active soon. We’ll write about it next time.
We mentioned that obtaining the necessary licenses opens many doors. The progress of the development of the entire blockchain and the projects that accompany it can be accelerated many times after obtaining licenses. Since licenses also involve the management of wallets (say on the exchange platform), the opportunity for creating personal accounts opens up.
This is especially advantageous because it allows users to send cryptocurrencies only with the help of an account address. This is not the address we are used to (a bunch of letters and numbers), but a personalized address like: btc@peter or telos@peter etc … This accounts will work with Transcendence dashboard wallet that will be made for all operating systems.
Their vending machines are in use from Alaska to New Zealand and are located in practically every place you can think of. From now on, you can pay in TELOS currency or receive cash-back in TELOS.
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