August 25th, EDC Blockchain officially announced a new use case of the Blockchain. Tynmond Nigeria Limited, an international travel agency is including EDC as a payment method. It means travelers can now pay for services in Tynmond Nigeria Ltd. with EDC.
What does it mean for Companies/Businesses like Tynmond?
A closer look at this development will help understand the advantages of accepting EDC as payment for services rendered.
- EDC blockchain processes transactions faster than many popular blockchains out there. It processes 10000 transactions per second. One of the basic fear of a businessman is the rate of fall in the price of many cryptos, within minutes it is possible for a crypto price to fall more than 20% of its value. For bitcoin which takes more than 10minutes to complete a transaction, it may mean a great disaster for business. This is because the BTC value when funds were sent by a customer may have dipped significantly for large amounts before transactions get confirmed (though it depends on some other factors like the transaction fee set by the Sender). In all, sending and receiving EDC only take a split second so the effect of price differential is not noticeable. Additionally, anyone who has studied the EDC market will understand that it falls in price, it does not fall significantly over a period of time.
Just like Mr. Joe Ope identified in the previous article, daily accruals on EDC leasing can suffice or compensate for losses if the price falls.
- EDC blockchain has a flat transaction fee of 0.001EDC which is approximately $0.000045 per transaction. This kind of fee is very small and will be easy for customers to send transactions.
- EDC allows anyone to lease their coins and get accruals on a daily basis. It means that a business like Tynmond can decide to lease a percentage of their income daily and get returns.
- Businesses gain more visibility as they add EDC as a payment option. EDC has more than a million users around the world. More customers can patronize businesses as EDC gives support to them.
I never knew about Tynmond if not for the announcement on EDC news.
Tynmond sees a great future in EDC
While commenting from his personal opinion in a private chat, Mr. Oyeneyin Ifeoluwapo, a worker at Tynmond Nigeria Limited, said: “Tynmond believes that EDC will become very great in the near future” when asked why he thinks Tynmond added EDC as a payment option. He thinks that we cannot rule out the possibility that the company may create its own coin using the coin constructor if things look high up. “EDC blockchain offers the platform to be creative in doing business and a lot more business profits than one's wildest imagination” he concluded.
Tynmond is a travel agency that helps people to process visa into different countries of the world. They help students to process their admission into different universities of the world.
EDC Blockchain Links
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