Making Crypto As Easy As Buying a Bottle of Water
An interview with Pundi X on ALTCOIN MAGAZINE
Before we begin, I’d like to point out that we have a Pundi X contest going on over at Twitter, so you might wanna check that out right here. We’re giving out 5 Pundi XPASS cards allowing you to store and spend crypto on the go.
Hey, guys. Glad you could join us today. Before diving into deeper details, could you please make an introduction to the Pundi X project? Imagine a 60 seconds pitch to give me everything I wanted to know, no more, no less.
Ranked as one of the world’s top 100 most innovative fintech companies in 2018 by KPMG, Pundi X is a software developer of blockchain-based devices for consumers and retailers. The company aims to make easy for mainstream consumers to use blockchain technology in their day-to-day lives through tangible, hardware products. Its flagship products are a point-of-sales (POS) device for the digital currency XPOS, to empower the merchants and consumers conduct instant blockchain-based transaction as well as the world’s first blockchain-powered smartphone, the XPhone.
As of today, the XPOS has been deployed to more than 25 countries. A prototype of the XPhone was used to make the world’s first blockchain phone call last October. It will be released later this year and will run on Function X, a new blockchain that decentralizes not just telephony but data of all kinds including the internet.
So your main mission is to make digital currencies available everywhere. Which initiatives have you taken to break the border between mainstream and crypto, and do you think you’ve found the most optimal solution?
The most substantive way we promote adoption is to bring our blockchain-based POS to the forefront of global retail. We began shipping 5,500 XPOS to countries in Asia, North and South America in Europe last August.
We see the frontline of retail as the engine room of the global economy and retail payments are a $2.2-trillion (USD) global market. If digital currencies are going to enter the mainstream they must enter retail. We’re looking forward to making new announcements about our growing network this year.
You are working directly with cities and countries like Dubai, Venezuela, Singapore and more — these are some bold initiatives. What’s the goal?
We’re very pleased to have been chosen as the technology partner for Ebooc, our partner in Dubai which is working closely with EmCredit, the UAE’s official credit bureau and a subsidiary of the Department of Economic Development to deploy digital currency on the blockchain. The goal is to partner with an institution in one of the world’s most forward-looking and advanced economies but also to bring the benefits of blockchain for payments to the public sector for the first time.
In a detailed description, what’s included in your so-called “Ecosystem” from the user to the merchant?
There are many elements to the ecosystem. Here’s an overview:
The XPOS: Blockchain-based Point of Sales terminal. The XPOS allows merchants to top up and receive payment in cryptocurrency / digital currencies from customers.
The XPASS: A multi-cryptocurrency NFC card. The XPASS card is an NFC-enabled crypto debit card. Customers use it to conduct transactions and load and store cryptocurrencies onto it.
The XWallet: A cryptocurrency payment app. The XWallet is an app that enables the easy and secure remote management of your cryptocurrency assets and offline and online payment options.
The XPhone: Calls on the XPhone’s blockchain mode are routed via network nodes, making it the first product to employ blockchain for telephony and data transmission without the need for centralized service providers.
Function X blockchain: Function X takes the uses of blockchain beyond financial transfers and allows it to be employed for secure and decentralized communication of all kinds, including every bit and byte of data on the internet. Our forthcoming blockchain will not only power the XPOS, enabling speedy and secure transactions at scale but also the XPhone.
How many XPOS devices have been shipped out, and how many Pundi X users do you have?
Our most recent disclosure, for year-end 2018 showed the following:
* 5500+ XPOS shipped to more than 25 countries
* 50,000+ XPASS cards activated
* More than 40,000 transactions conducted in the latter half of last year
We provide updates on new merchants regularly on our social media and official blog.
Why choose Pundi XPOS over the competition?
Pundi X was the first company to develop a blockchain-based solution for both retail payments and mobile users. It has been used and deployed in commercial events, such as ULTRA Taiwan music festival.
What’s your most noticeable roadmap goals that are worth pointing out?
Our main goals for the coming year are to grow our existing network of XPOS users, launch the Function X mainnet and to successfully bring the XPhone to the consumer market.
Do you host or attend any events in crypto?
We want to take our solution beyond crypto-focus events. Most recently we were at CES in Las Vegas, STEP 2019 in Dubai and MWC 2019 in Barcelona.