“DISRUPTING ECOMMERCE WITH BLOCKCHAIN”                        

 

 

 

Telidyne Inc., provides technologies and platforms to companies that are generating Mobile Apps services and operating systems   to disrupt the ecommerce with Blockchain technology.

 

A blockchain is a distributed ledger and all the transactions that ever occurred on that blockchain are recorded and stored in a block of data. Once stored they can never be removed, and so the chain of blocks becomes longer with every transaction. All the data entered into the distributed ledger is protected by complex cryptography, which can easily be unwrapped when you have the key, but impossible to crack when you don’t have it.

 

Smart Contract

Telidyne develops platforms for Global Smart Contracts. A Smart Contract utilizes blockchain technology and is essentially a digital agreement between two parties that automatically execute itself. Payments using Cryptocurrencies is already a great disruption of the current established financial banking system. Smart contracts can be of any variety between two or more parties such as (i) amounts to be paid, (ii) the transfer of documents (iii) the selling of a product and (iv) the consumption of a commodity such as power. In ecommerce such smart contracts allow direct transactions between sellers and buyers without the need for a middle man.

 

International Payments

International transactions currently are very cumbersome and have high cost associated with them. Most cross-border payments are still routed via bilateral correspondent banking relationships, a network of banks that use the SWIFT messaging protocol to execute transactions.  In 2016, cross-border payment flows totaled more than $180 trillion. Most of this volume was consumer driven, but the value was largely generated by businesses. In this same period, the banking industry earned over $200 billion in revenue from services provided to payers and payees.

 

So it is quite clear that the current system generates attractive returns for participating banks. Network users suffer on three accounts. Additionally every person must have a bank account to make such international transfers.

Telidyne is changing all that with its new platform designed to provide easy and automated methods for international payment transfers, borrowing funds, lending money and invoice payments.

 

By using blockchain technology, Telidyne’s platform is disrupting the industry for financial transactions by providing high security standards, low costs for executing transactions and a satisfying, easy user-experience. Because of the security that both the network and the cryptography provide, blockchain technology provides a secure system through which individuals and businesses can directly interact and transact with each other without the need for an intermediary. The only minor fees that will be paid are for the network behind the blockchain for validating transactions and securing the network.

 

Both buyer and seller pay no fees to a marketplace company, because technically, there is no company. The activity of verifying transactions is kept profitable by the use of an associated currency, normally referred to as a cryptocurrency. Every blockchain must have a currency associated with it. Transaction fees (in that currency) are attached to every transactions. Those fees are collected by the network of verifiers. Since the process is entirely automatized, the fees are extremely low compared to banking standards. Some blockchain's associated currency are meant to be used for real-world spending such as Bitcoin. However, some other blockchain's associated currency are solely meant as a way to power the verification network. Ethereum, the second most valued blockchain currency, is a prime example of that.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

©Telidyne Inc., 68 S. Service Rd., Melville, NY 11747, USA; Tel: (631)293-6400