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Monthly report: a recap of activities in August

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Dear Pundians,

You could be forgiven for noting we start each monthly reports with a claim that this has been the biggest month ever for Pundi X.

In the case of August, I think we can make this boast without contradiction. We launched plans for a new mainnet and businessline; a new continental headquarters in South America and two immediate and major distribution partnerships in Colombia and Brazil one week later; we also moved into a new major blockchain hub via a partnership in the Gulf and Middle East; and we we overhauled our monthly token unlock mechanism in ways that will benefit longterm NPXS holders.

That is to say the least. Read on for a a full report and, as always, keep an eye out for all our updates on our official blog here.

Plans for a new mainnet and businessline for Pundi X

What is f(x)? It is the newest addition to the Pundi X businessline and a potential solution to many of blockchain’s biggest limitations.

A new era for Pundi X

It all stems from out plan to roll out 100,000 XPOS in three years. Each of these can act as a node as well as a payment portal. And that’s a game changer.

Many of the solutions already in the works for improving blockchain throughput, such as sharding require on the availability of a large amount of nodes in order to divide networks into smaller, more efficient pieces. Blockchains will need more available nodes for sharding to result in speedier confirmation times.

In this sense, Pundi X’s new initiative will be a service that can be used by all public chains to handle problems such as scalability and throughput.

Finally, a large, geographic spread of nodes, like the global distribution network of the XPOS we’re pursuing, will help achieve consensus on a blockchain more quickly. Proofing a blockchain against collusion ideally requires a geographically dispersed sizeable network of nodes so that consensus can be achieved with integrity and at speed.

Android developer can develop f(x) and XPOS apps like they do on Android apps. Developer can upload the apps onto a DApp Store and make them available on XPOS.

Read our CEO and Co-founder, Zac’s full explanation of f(x) and what it means here.

Pundi X makes big moves in South America

August was a big month for Pundi X’s newest continent and the newest frontier for cryptocurrency investment globally: South America.

We published three major pieces of news announcing our arrival on the continent.

First, a new headquarters. Based in Brazil, the financial and technological capital of the region, the office will serve as the base for our expansion into a regional market that shown so much recent potential for the adoption and use of cryptocurrencies.

Country Manager of our South American operations, Joao Victor Mendes, said that plans to expand Pundi X’s footprint were already underway:

“In this part of the world, cryptocurrency is the subject of growing demand, especially in countries such as Brazil, Argentina, Colombia and Venezuela”.

Distribution partners in Colombia and Brazil

It took less than a week for Joao’s predictions to be proven correct.

2,000 XPOS devices are coming to the fastest-growing South American markets via exclusive distribution partnerships signed in Colombia, with Manticora Capital and BitCapital.

Manticora Capital will distribute 1,000 devices over six months in storefronts across the country that has time and again been objectively measured one of the world’s fastest growing hotspots for cryptocurrency.

Luiz (left), Ivan (center) from Manticora Capital and Joao from Pundi X announced the partnership in the meetup co-organized by NEM Foundation in Bogotá, Colombia on August 18

One week later another deal was announced to distribute another 1,000 devices via BitCapital one of Brazil’s largest OTC operations and a company also currently developing a frictionless payment network for cryptocurrencies in that country.

Zac pictured with Ricardo Guimaraes Filho, founder of BitCapital.

Ricardo Guimaraes Filho, founder of BitCapital said: “There’s only one game in town at the moment for easy, understandable solutions for crypto adoption and that’s Pundi X. We’re thrilled to be partners”.

Pundi X to enter the Gulf and Middle East

Not content to expand into one major expanding market for blockchain, August also saw Pundi X announced an exclusive distribution deal for bringing the XPOS to the Gulf and Middle East Region via a partnership with regional fintech pioneer ebooc.

Ebooc and Pundi X will work closely on developing digital payment gateway services for governments, financial institutions and major corporates in the Gulf and Middle East as well as broader business lines such as blockchain-based customer loyalty programs and NFC contactless payment options.

More details will be announced shortly.

A new token unlock mechanism for NPXS!

After much deliberation we decided to implement a new mechanism for the monthly token unlock system for NPXS.

While we took the decision ourselves, an overwhelming majority of NPXS holders supported the reforms.

A total of 446 addresses participated in voting on proposed changes. Of those, 425 were from addresses casting valid votes for the proposed new mechanism; 14 addresses voted to maintain the original mechanism.

The new reforms mean the Pundi X team will decide the time and frequency of taking snapshots, which mean we will perform random snapshots without giving any notification. We expect the final amount of the unlocked token may slightly vary from users’ own calculations due to the random snapshots that the team will perform.

The new proposal to unlock 7.316% of the total NPXS based on a daily weighted average basis can be read in detail here.

It begins in September.

Also, we want to again remind all the PXS and PXSXEM holders to complete the swap before 23:59:59 SGT (GMT+8) on September 20, 2018.

Three leading national exchanges carry NPXS

NPXS is to become even more widely available after the three largest exchanges in Turkey, SistemKoin, in Indonesia, Indodax, and in Taiwain, BitoPro, have all this month listed NPXS.

SistemKoin provides Turkish Lira (TRY) and Ethereum (ETH) pairings for NPXS.

NPXS is paired with the Indonesian Rupiah (IDR) on Indodax and with Ethereum (ETH) in BitoPro.

August NPXS token removal

With shipment of 5,000 XPOS units and revenue generated from the retailer transactions, we’ve executed the removal of 500,001,139 NPXS from the total supply this month.

Here is the hash of the execution: 0x11afad86bba5bdc7ed49236be6cef71275e307d55d95170bbac5281508c24620

Help Lombok’s earthquake recovery: send NPXS

At Pundi X we mourn the more than 250 immediate victims of this disaster but less than a month later we continue to fear for the many hundreds of after shocks and the more than 350,000 displaced persons and the shelter so many lack, as well as necessities such as running water.

Indonesia is deeply embedded in the Pundi X story. It’s where our company was founded. But regardless of one’s nationality this is a disaster of a scale that demands a humanitarian response.

So we’re partnering with Kopernik, founded by Toshi and Ewa who had previously worked for United Nations and the World Bank over a decade. This is the Indonesian non-profit that provides help to people in need and in disasters everywhere, to make it easier for NPXS holders to donate to this disaster.

Read about how you can send NPXS and crypto to do something great and help here.

Pundi X will make history at Ultra Taiwan

Taipei and Pundi X will make history next month when they host the world’s first major music festival to run on blockchain technology. More than 30,000 participants at Ultra Taiwan 2018 are to pay for goods and services on Pundi X technology during September 8 and 9.

Tens of thousands of Pundi XPASS cards will be distributed to festival goers, who will be able to use them to pay for food, beverages, goods and merchandise at more than 35 different payment points with XPOS installed.

The new design of this XPASS card while designed by our upcoming collaboration is not just for use at ULTRA Taiwain, either, it can be used at a wider range of events such as our upcoming American Chamber of Commerce Korea (AMCHAM) event and others. It’s an exciting expansion of our XPASS card design and functionality.

Until next week, and hopefully another record month for Pundi X, please keep reading our updates.

Community champions to win free trip to Bali

And some good news to end our report on. This year’s XBlockchain Smmit, Asia’s pre-eminent regional gathering of experts in the blockchain sector will be held in Nusa Dua, Bali on October 09–10 and in the lead-up to this year’s annual meetings of the IMF and World Bank.

Co-organised by Pundi X and the Indonesian Blockchain Association (ABI) it will be a of gathering global leaders to showcase real-world blockchain implementation.

To thank supporters of the event and building the Pundi X community, we will host five Pundi X champions for the trip to Bali to attend the event! To learn more about five free trips up for grabs for this year’s event here!

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