Home Coins Pundi X (NPXS) Q2 2020 progress report

Q2 2020 progress report

Q2 2020 progress report

Pricey Pundians,

Thanks in your time to take part within the Q2 2020 video progress report. We’re going to replace you on the progress we made and the steps we’re taking to reply to the challenges.

Right here’s the agenda of AMA Q2 report:

  • XPOS upgrades
  • COVID-19 Impacts
  • Compliance
  • Partnerships
  • Perform X testnet launch
  • Crypto Zoo
  • Official e-commerce store

David Ben Kay, Chief Authorized Counsel of Pundi X and President of Perform X, additionally joined the AMA to speak concerning the significance of compliances and his visions of growing within the blockchain business.

XPOS upgrades

PayPal and PayPal Right here apps included in XPOS

On June 30, 2020, we now have introduced that our blockchain-based point-of-sales gadget, XPOS®, will embrace PayPal functions.

PayPal’s inclusion on XPOS® gadgets will work in the identical means as anyplace else. PayPal’s fundamental options will probably be useful on XPOS® gadgets, together with accepting funds by way of e mail or cell phone quantity. Within the U.S., retailers will solely have to indicate a sure QR code for his or her prospects to pay. PayPal Right here, alternatively, gives options for retailers to just accept bank card cost.

Having PayPal engaged on XPOS® gadgets additionally now signifies that customers can simply buy cryptocurrencies corresponding to BTC, ETH, BNB, DAI, NPXS, USDT, and so forth. at any XPOS® service provider who has activated the gadget’s “Crypto Sale” function. These digital property can then be securely saved in an XPASS Card, which makes coping with cryptocurrency as simple as merely tapping the cardboard to finish a transaction.

For extra info, go to: XPOS® gadgets quickly to help on-line cost large PayPal

XPOS app listed in PAX’s Android POS app retailer

We have now been devoted to partnering with world-leading POS producers, and now Pundi X is working with three main gamers, together with Ingenico, Verifone, and PAX. The android gadgets of those large corporations are actually accepting cryptocurrencies with cost performance powered by Pundi X.

Whereas pushing for {hardware} adoption, we’re additionally pushing additional to software program improvement. Our objective is to empower each our personal XPOS gadget and plenty of different point-of-sale Android gadgets to course of crypto transactions. Now, PAX A920 gadget holders can discover and obtain the XPOS app within the PAX app retailer with ease.

COVID-19 Influence

Whereas the pandemic is inflicting financial injury to the world, there are questions concerning whether or not the US {dollars} might stay the worldwide reserve foreign money, and many alternative international locations are trying into digital currencies. It exhibits a chance for blockchain know-how and cryptocurrency to tackle a extra acknowledged highway on the planet.

We additionally see the numerous financial impacts dropped at the bodily retailers. To help our retailers, Pundi X is not going to be taking any XPOS transaction revenue from the retailers this 12 months. This resolution will result in insubstantial token removing. Nonetheless, it should give the revenue again to the retailers and distributors in our community as they’re the important thing to drive the adoption sooner or later.

Listed below are the Q2 2020 token removing numbers.

1594025855 828 Q2 2020 progress report

Compliance

In mild of the COVID-19 pandemic, the regulatory businesses worldwide are paying extra consideration to cryptocurrencies. The draw back of it’s that it has created extra ache factors for corporations in addition to prospects to use KYC and AML checks; platforms of such providers are born to fulfill the regulators.
Whereas it’s painful and dear within the brief run, the requirement for compliance will weed out the much less critical gamers and scammers available in the market. It takes further efforts to finish the method and develop into a compliant entity. Due to this fact, it’s a optimistic factor in the long term.

Pundi X is making use of for the licenses issued by MAS (The Financial Authority of Singapore) of offering account issuance and digital cost token providers in Singapore. We’ve obtained an exemption from holding a license to function each providers until 28 July 2020. It’s a new regulation in Singapore. The optimistic facet of it’s that Singapore is at all times on the forefront of cryptocurrency, and the method could be very rigorous. Therefore, the act is more likely to develop into the gold normal with regards to compliance.

We need to take this chance to thank the workforce for working collectively within the making use of course of.

For extra info, go to: Compliance: replace on license functions and exemption granted

For extra info, go to: Compliance: KYC on XWallet

Partnership standing

Dubai

Lots of you might have been asking concerning the progress of our Dubai venture. In 2018, we now have introduced a partnership with emCredit, the UAE’s credit score bureau and a subsidiary of the federal government of Dubai, to deliver our XPOS to tons of of its retailer fronts throughout the town to permit shoppers to pay payments, college charges and for utilities utilizing digital foreign money.

The position of Pundi X is to help emCredit when they’re able to rollout. The present standing is that we’re nonetheless ready for emCredit’s and the Ministry of Finance’s path. At this second, we haven’t implement the plan for the roll-out but because of the pending approval from the authority.

Venezuela

In 2019, we now have began a take a look at case in Venezuela, putting XPOS in Traki, Venezuela’s largest chain of malls. This has been probably the most helpful circumstances in any markets, the place folks use cryptocurrencies to satisfy their on a regular basis wants.

Nonetheless, to do a rollout in Venezuela requires 2 official approvals. The superintendent of cryptocurrency of Venezuela has contacted us and required an official authorized standing of how we are able to and can rollout in Venezuela. Additionally, because of the worldwide sanction in direction of this nation, we have to get permission from the worldwide authorities earlier than beginning any mass deployment in Venezuela.

As David mentioned, as a world firm, we now have to be as compliant as we are able to with our main markets, and be delicate to the choices made by these main markets, corresponding to USA, EU and different Asian international locations. Venezuela market has enormous potential, however we now have to strategy it with higher sensitivity due to its present state of affairs. Therefore, there gained’t be an intensive roll-out on this nation.

There are different LATAM international locations which have demonstrated their market potentiality. Listed below are the outcomes from our transaction report in Q2.

1594025855 410 Q2 2020 progress report
1594025855 497 Q2 2020 progress report
1594025855 630 Q2 2020 progress report

Perform X Improvement

After 18 months of arduous work, we now have launched not one however 4 of Perform X merchandise in June 2020.

FX testnet is dwell

1594025855 103 Q2 2020 progress report

FX Explorer — permitting customers to have a look at the element transactions and the blocks created within the Perform X testnet, together with the listing of validators and delegators.

FX Join — an unbiased pockets to retailer your non-public key, just like MEW Join of My Ether Pockets, for customers to signal their transactions on the blockchain.

FX Cloud — as David described it as “launching a WordPress whereas everybody remains to be coding”, the FX Cloud permits customers to create validators while not having the flexibility to code. To get validator in a mass adoption. FX Cloud performs an important position on this.

FX Testnet — a take a look at product earlier than the mainnet launches. The FX testnet means that you can expertise how briskly the transactions made on FX testnet may be.

We hope that Perform X creates an entire new ecosystem that permits folks with restricted technical backgrounds to have the ability to not solely entry the blockchain however to additionally arrange issues within the blockchain.

We stay up for inviting extra enterprise and authorities degree companions to affix and take a look at the accuracy and power of FX testnet.

For extra particulars, go to:

Perform X testnet is right here!

An introduction to FX Join

An introduction to Perform X Explorer

Innosquare Taipei operates validator nodes for Perform X Testnet

Perform X testnet data 100,000 transactions in seven days

Perform X and Pundi X connection

Perform X is an ecosystem itself that can join totally different cross-chain and on-chain functions. Which suggests, it should join XPOS, BoB and different blockchains into the Perform X ecosystem.

Crypto Zoo

We’re partnering with a workforce to develop the Crypto Zoo app. This app comprises a “Go Bull” and “Go Bear” choices so that you can discover. The aim is to hedge the dangers. It’s now at beta testing with a complete of 300 customers and we hope to launch it in XWallet quickly.

Official E-commerce store

We have now launched XPOS on Amazon US, Amazon Japan, NewEgg Enterprise and Shopify. Now, we’re blissful to announce that we now have constructed our personal e-commerce portal. Take a look at https://shop.pundix.com and discover that XPOS out there on-line.

We have now begun as a community-powered group and proceed to be that means. We respect your participation and do take heed to your feedback which really encourage and encourage us to develop even higher. It’s been for XPOS, NPXS, and in addition coming together with Perform X.

We hope that the builders will see the potential of the Perform X ecosystem and we welcome them to affix us to the highway of improvement.

Q2 2020 progress report

As soon as once more, thanks for being along with us and becoming a member of this session. Thanks in your help!

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