It’s been a month since the end of our Public Token Sale, and the Acudeen team has been hard at work in forging partnerships, developing the platform and implementing features. We’re happy to announce a couple of them in this edition of our monthly updates.
Before anything else, we’d like to address concerns regarding the distribution of tokens. As a strategy to support the ACU tokens (which essentially benefits all token holders), we were advised by our partners at First Growth Funds to control the supply in the market as early as the beginning. This is because the dynamics of the crypto ecosystem has changed significantly since 2017 wherein the market was overly optimistic. This new sentiment requires a more proactive approach to ensure that there will be no hiccups while we develop the platform and help grow volume in preparation for full implementation in 2019.
Timelines, Projections and Features Implementation
As announced earlier, we have integrated our payor services with OpenPort, a blockchain-based logistics company. Acudeen will now be a visible service on their customers’ dashboards which produces a better user experience.
AssetChain Platform Updates
The Public Token Sale officially closed last June 10, 2018. As promised, ACU will be listed in its first non-Stellar Based Exchange within 2 months from now.
Our co-development of the Hyperledger Fabric-based back-end will begin in August 2018 with IBM Singapore. The contract was recently signed by CEO Magellan Fetalino last month. A workshop and a planning session will ensue as well as a general consultation with all stakeholders and strategic partners during this time.
The Acudeen team is also engaging in talks with the Stellar Foundation, and we are targeting the start of our development period with them by September of 2018.
The current projected timeline of implementation of our own Stellar-based wallet is by December of 2018. This means that the platform will be able to start accepting ACU tokens as payment for the Acudeen fees by this time.
- A MOA was signed and executed with OpenPort in 2018. We will be rolling out this product to Nestle logistics partners within July.
- On a separate note, we also signed an MOA with UnionBank, one of the largest commercial banks in the Philippines to scale up the platform and encourage the adoption of our services as part of the TechUp Movement.
- We have a planned platform rollout with a major telecommunications company in the Philippines this November 2018. Acudeen will be an official solution for their enterprise clients.
Kyopay: Joint Venture in Myanmar
- As announced earlier, Acudeen has officially expanded to Myanmar as Kyopay. This is a joint venture with Anthem Asia, whose major partner is one of the largest banks in the country. Stay tuned for the press release.
- The Kyopay platform is expected to be launched in August 2018.
- A new CEO was hired for Kyopay — Harsh Nathany. He is the Former Managing Director of Daraz Myanmar (shop.mm), a Rocket Internet Portfolio Company which was acquired by Alibaba.