Welcome to our first monthly report for the final quarter of 2018.
October has been a busy month for the Pundi X team, with the continued rollout of our XPOS devices but also an important addition to our business offerings with the development of our new ecosystem, Function X, and the XPhone to display its potential to add new utility to blockchain technology.
We think our display of the world’s first phone call made via the blockchain will be an historic moment for the development and adoption of the technology.
To catch up on this and more, read on.
Function X: hello, world
October has been no ordinary month. Pundi X officially made history on the 10th at the Inaya Putri Bali when our CTO, Pitt, and CEO, Zac, made the first ever public phone call on the blockchain.
The XPhone, a prototype made for public display at the XBlockchain Summit 2018 conference, brought telephony, messaging and data transmission to the blockchain for a first time before an audience packed with industry leaders and journalists.
But the bigger story was the fact that the XPhone was powered by Function X, which is our new blockchain ecosystem but also adds new dimensions to blockchain usage, taking it far beyond the world of financial transfers.
Our CTO, Pitt, explained its potential applications at the launch: “Function X is not just a public chain. It is a total decentralized solution. It consists of five essential components: Function X OS, Function X Blockchain, Function X IPFS, FXTP Protocol, and the Function X Docker. All five have one sole purpose which is to decentralize all apps, website, communications and data.”
Ultimately the new protocol can be used as an alternative to the internet’s http, meaning that it could be used to decentralize every bit or byte of data in the world.
Unlike traditional modes of telecommunication and data transmission, Function X requests are routed through nodes (with every device in the ecosystem being itself a node) meaning that centralized carriers or data providers do not have control over what you share and how you share it. We see this as a big step forward for consumers who are looking to take back control over their own data and privacy.
The Function X blockchain and the XPhone will be launched in the second quarter of 2019. In the meantime keep abreast of developments at functionx.io, or just watch the phone and our new chain in action below.
Taking blockchain to the public sector
In another major milestone for Pundi X and the adoption of blockchain-based payment technology, we announced this month that our technology will be making its debut in the public sector in Dubai.
The UAE’s official credit bureau, emCredit, has announced it will begin offering blockchain-based payments on the Pundi X POS.
A subsidiary of the Dubai Department of Economic Development, emCredit will use Pundi X technology in hundreds of its store fronts across the city to allow consumers to pay bills, school fees and for utilities using digital currency. The devices are to be rolled out by our official partner in the Gulf and Middle East, by Dubai-based fintech company, ebooc.
Our CEO and co-founder, Zac, said: “Bringing blockchain-based payments technology into the government sphere is a major development for the technology.
“But to be able to bring it to one of the great cities of the world and the most advanced economy in the Middle East makes today an historic moment for the real-world application of a technology that has promised so much potential”.
The devices will run emcash, a stable, digital equivalent of the UAE dirham (AED). Further announcements will be made following the device’s development and testing by central regulators in the UAE later this year.
Crypto donations for Palu
A powerful tsunami hit the coast of Sulawesi in Indonesia late last month, leaving a death toll of thousands and many more without homes and provisions.
We partnered with Kopernik and NU Care to deliver donations to the victims of this tragedy by delivering NPXS and other leading cryptocurrencies in the form of donations to the ongoing relief efforts.
The world’s 100 most innovative Fintech companies
Pundi X was this month named one of the world’s 100 leading fintech innovators by KPMG and H2 Ventures in their annual Fintech100 list. Pundi X was listed in the ‘emerging star’ category alongside 50 other top companies.
We were recognized alongside companies such as Coinbase and Circle for our efforts to become the world’s largest cryptocurrency sales network.
The rollout continues
Our XPOS continues to make tracks around the world as we pursue the development and deployment of thousands of units to pre-order customers.
Further consignments landed in the Netherlands, Taiwan and Singapore this month as merchants began popping up online and offering payments in cryptocurrency. Special thanks to Stanry, our XPOS hunter, Joseph and our distributors to spread the words of the XPOS activation. Cheers to many more.
In one of our busiest months for media coverage since our public token sale early this year, the release of Function X, our move into the public sector in the UAE and the public display of the XPhone generated significant global media coverage this month. Some highlights include:
- An interview with our CEO, Zac, in Pymnts, the world’s most popular journal for the global payments industry.
- A feature on the XPhone and Function X in the Spanish edition of GQ, Computerworld India, and many more. And we are also grateful to have BIGCryptoV, CryptoGrinders, Digital Lawrence, Nye The Crypto Guy, TheCryptoCactus, BlockTempoNews to attend the launch of XPhone and covered Function X at XBlockchain Summit.
- Our effort of facilitating crypto donation on Channel News Asia TV.
Otherwise, you might have seen Pundi X on Sky News Australia, Mobile World Live, the online international mobile industry news and CCN, among others. Stay tuned for more news as it comes to hand.
We’ve just wrapped up one of our biggest-ever months for events, showing that we have no intention of slowing down through Q4 of the year. Here’s where we were:
Blockchains for Sustainable Development (Session, World Investment Forum)
Co-organized, co-curated and chaired by Pundi X’s own director of international partnerships, Stephen DeMeulenaere, blockchain leaders including Binance’s Changpeng Zhao, IBM’s Louis De Bruin and PwC’s Dr. Guenther Dobrauz gathered in the Palace of Nations building (the forerunner to the modern UN) for an official session at the World Investment Forum in Geneva, Switzerland focusing on the role of Blockchains for Sustainable Development.
Blockchain for Social Impact meetup also gathered over 150 participants which we opened the session.
Korea Blockchain Expo
Bringing together more than 3,000 leaders from government, traditional industry and the world of blockchain. Pundi X booth displayed the latest developments in our technology.
Indonesia Digital Economy Expo
CFO and co-founder, Dany, addressed one of Indonesia’s leading gathering of digital economy leaders on the subject of how blockchain would change business practices in the retail and payments industries and beyond. More than 300 conference attendees included Indonesia’s Vice President Jusuf Kalla.
NEM Brazil meetup
South America country manager Joao Victor Mendes displayed Pundi X technology at this NEM 101 meetup, a gathering held at Brazil’s most prestigious coding school Digital House. The event was held by NEM Brazil.
Pundi X held a booth at one of the Middle East’s biggest conventions for revolutionary technology in AI, blockchain and more. Investors from countries such as Saudi Arabia, Lebanon, Oman and beyond the region were curious to hear about Pundi X’s public sector partnership in Dubai.
Blockchain Smart Summit Colombia
Manticoracap, our XPOS distributor, participated Blockchain Smart Summit 2018 in Colombia and gave a demo on stage. We are grateful to have you to step in and help us to spread the words.
In this month, our tech team started the beta testing of the XWallet app, a digital asset mobile application to complement the use of the XPASS Card. To see how this XWallet app fits into our product offering and make crypto transaction easy for both merchants and customers, you can watch the video demo produced by CryptoGrinders below.
We aim to officially launch it next month and will continue improving the app. Feedbacks are always welcome.
XBlockchain: Bali and beyond
And finally, this month saw a highly successful staging of the inaugural XBlockchain Summit at the Inaya Putri Bali. More than 500 attendees from around the world gathered in Nusa Dua for a summit co-organized by Association of Blockchain Indonesia and Pundi X, held in parallel to the annual general meetings of the IMF and World Bank group in Bali.
Attendees included ministerial delegates from Lithuania and Mauritius; David Kao, Head of Singapore, Binance; Meeta Vouk, Director, IBM Singapore Lab; and Stephen Chia, Council Member and Regional Head of SE Asia, NEM.io Foundation, among others.
Apart from the exciting public debut of the XPhone speakers covered topics including the accessibility of cryptocurrencies, the blockchain economy, policy frameworks around digital technology, inclusive tech, and blockchain for business and enterprises. Speakers also delved into creative use cases, especially in the realms of entertainment, gaming, and sports.
The next edition of XBlockchain Summit will come to Brazil in March 29–30, 2019. We hope to see you there.
That’s all for this edition of Pundi X Insider. Keep posted on all our forthcoming events and new product releases at our official page.