Project Update 2: 28.03.2018
Here is the second instalment of our bi-weekly project update for March. This update covers some topics of interest, from events we’ll be attending to the the FXT Token unlock schedule.
FuzeX April Event Calendar
We’ll be attending three separate events in April. These include one national event and two international events. Both of the international events will be in Dubai.
We’ll be at Deconomy 2018 at the Walkherhill Hotel in Seoul, South Korea from 3rd April to 4th April. At the event they’ll be a number of thought leaders, investors, exchanges and blockchain enthusiasts from all over the world. Also at this event we’ll be attending a VIP networking event hosted by a Korean exchange. We’ll provide a rundown of Deconomy, who we met, and what we got up to next week.
A little further from home, we’ll be attending Seamless (Fintech Conference & Exhibition) at the Dubai Convention & Exhibition Centre on 15th April 2018. Right after that, we’ll be at the World Blockchain Forum (WBF) event at the Madinat Jumeirah on 16th and 17th of April. This event is being arranged by our advisor, Moe Levin, and his company Keynote. We’ll also be sponsoring this event as well as having a booth there, too.
If you’re at any of the events we’re attending in April, and want to meet a member of the FuzeX team, get in contact with us via Facebook, Twitter or Telegram.
ISO not ICO: The International Standards for FuzeX
ISO/IEC 7816 — International Standards
We’re currently in the process of receiving certification, through our partner issuers, regarding the ISO/IEC managed international standards (ISO/IEC 7816) related to smart cards.
These international standards cover everything from the electrical interface and transmission protocols, to the commands and mechanisms for security operations of the FuzeX Card. Receiving this means that we can meet the global standards that international payment networks require in order to personalise the FuzeX Card in their certified Card Personalisation Bureaus.
The certification process is underway, and samples have already been sent to the relevant parties for the various required tests.
ISO/IEC 7810 — Size Matters
Another ISO/IEC standard that matters is ISO/IEC 7810. Being compliant with this standard means that we already meet certain physical characteristics set out by ICO/IEC 7816. The FuzeX and its sister product; Fuze Card, have already been designed and certified to meet the ISO/IEC 7810 international standards for the ID-1 format.
As we are using conventional payment networks, it’s important that the FuzeX Card has already met the standards outlined for the ID-1 card format.
This is important in order for it to be used in POS terminals in conventional payment networks and ATMs. As previously stated, meeting these standards also means that we more or less automatically meet most of the physical standards for ISO/IEC 7816, too.
What is ISO/IEC 7810 and the ID-1 format?
ISO/IEC 7810 is an international set of standards that defines the physical characteristics of everything from bank cards and IDs to sim cards, passports and visas. These standards outline the physical dimensions and qualities of the product and ensure that what is manufactured meets rigorous international standards. This can include such things as toxicity testing, resistance to temperature, humidity and flames and stress testing, too.
The ID-1 format is the format outlining the physical dimensions needed for payment cards, loyalty cards and certain national IDs. The ID-1 format specifies a size of 85.60 × 53.98 mm (3 3⁄8 in × 2 1⁄8 in) and rounded corners with a radius of 2.88–3.48 mm (about 1⁄8 in).
Partnership Updates
We haven’t forgot, but it is taking a little longer than we initially thought. We’re still finalising three MOUs with companies we’re planning to work with in the future. We are ready from our end, but we are still waiting for our partners to finalise it from their end.
We predict they will all be ready for announcements around the end of next week — so we’ll provide a separate update with these three new partnerships when each of them provides us with final confirmation and a draft of their proposed communications for approval.
FXT Token Unlock Update
After conferring with our advisors, partners, contacts in exchanges and certain contacts related to regulatory bodies; we have determined that FXT Tokens will remain locked throughout the month of April, and will be unlocked during the first week of May 2018. We have taken this decision based on the advice we have received from the aforementioned parties and sources.
During this time we will arrange listing on other partner exchanges. These will be separate to the two we have already announced (Cobinhood, Livecoin) and the third pending exchange which will be announced soon.
Listing on all partner exchanges will also be within the first week of May, with FXT token unlocking coming three days before the exchange listing.
Advisors and bounty participants will receive their FXT Tokens on 20th April 2018. This has already been sorted, and will be distributed through our Smart Contract.
As exchange listing will happen the first week of May, with token unlocking coming 3 days before, we will announce the exact date of these events the last week of April.
(Note: 5% of the FXT Tokens are allocated for Partnerships & Advisors. Of that 5% less than 2% have been allocated to our Advisors and Partners. Advisors and Partners have a vesting period of 25% of their allocated FXT Tokens every quarter.)
