[BLOG] TEMCO For Daily Use
Can TEMCO tokens be used in everyday activities?
Opening of Regular Six, adoption of TEMCO tokens and other cryptocurrencies
As the commercialization of the blockchain technology has been accelerating in its growth, the use of cryptocurrencies is being adopted into daily activities just as quickly. Recently, a restaurant space called “Regular Six” opened in Gangnam, the heart of Seoul, Korea, to show the realistic adoption of cryptocurrencies for daily practical use. At the restaurant space, not only the use of Bitcoin and Ethereum but also TEMCO tokens will be used for payments. Through the opening of the Regular Six, the realistic use case of the TEMCO tokens has been made available.
The specific usage of TEMCO tokens
So, how can TEMCO tokens be used specifically used? TEMCO token’s specific use can be divided into two parts. The usage at Regular Six and the usage that serves as common utility token.
The usage of TEMCO tokens at Regular Six
As mentioned in the previous post “TEMCO and AI Technology”, Regular Six is a futuristic restaurant space that adopted the cryptocurrency, blockchain, AI and more advanced technology, and 6gram aging room (butcher shop), Lounge X (Robot Cafe), Wolhyung (Fusion Traditional Korean Food), and Pyeonghwaog (cold noodles) and others are located in the space.
One of the major focus of Regular Six is that it has an innovative cryptocurrency payment system, which has gone through the critical analysis of the failures of the previous systems and made to be successful. Regular Six has fixed the problems of the slow transaction speed of the cryptocurrency payment system and the price fluctuations of the previous payment systems and adopted into their new innovative cryptocurrency system.
The cryptocurrency payment is done through the exclusive Regular Six’s application. To make cryptocurrency payments through the Regular Six’s application, the cryptocurrency has to be transferred to the application first, then the transactions can be conducted, whether the cryptocurrencies are in the exchange or the personal wallets. And at the time of the transfer, the cryptocurrencies are converted into points that you can use to purchase food and other products at Regular Six, based on the exchange price at the time of transfer.
Currently, at Regular Six, consumers who make cryptocurrency payments can receive up to 5% exclusive points for the purchases. In addition, Regular Six is working on hosting an event with a project to reward cryptocurrencies to users for posting reviews. Accordingly, Regular Six is planning on providing various benefits related to cryptocurrency payments.
In the past 14th of June, Regular Six had its launching event and at the same time, beta tested the cryptocurrency payment system using Bitcoin and Ethereum. Such cryptocurrency payment methods are currently in process for development by Regular Six, and TEMCO tokens are soon to be added to their payment system as well. When the TEMCO tokens are added to Regular Six’s payment system, soon the consumers may enjoy a meal or a coffee break at Regular Six.
General usage of TEMCO tokens
The TEMCO tokens users can be divided into two types. Consumers who use TEMCO tokens for everyday purchases and others who use TEMCO tokens for services, fees, and more.
Consumers
a. Payment method
The consumers can be defined as “regular users”, and they can use TEMCO tokens in TEMCO’s market platform to purchase products or can use them at various ways such as at Regular Six and others.
b. Development of consistent reward program
TEMCO is developing a reward distribution program for the TEMCO market platform users, through the system that rewards for contribution system.
Non-consumers (other than regular users)
a. Paying for smart contract usage
Vendors or the sellers can use TEMCO tokens to pay for smart contract usage fees.
b. Paying for TEMCO platform usage.
Vendor or event sellers can use TEMCO tokens to make payments for BI tool (Business Intelligence tool) and TEMCO platform.
c. Priority selection for a premium location
For the TEMCO token staking vendors or even sellers, priority selection of the premium location is provided.
Practical usage of TEMCO tokens in real life
As the commercialization of blockchain adoption approaches, the realistic use cases of the cryptocurrencies are increasing. Considering such facts, it is important to note that TEMCO tokens were selected as one of the cryptocurrency payment methods for Regular Six’s payment system. Through the opening of Regular Six at this time, such integration may influence the expansion of practical usage of TEMCO tokens by the public.
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