This week is particularly ripe with many new updates for our FuzeX community. Please read the below information regarding Airdrop, Bounty Program, FuzeX participating events, etc. If you have any questions, please reach us at our Telegram page.
Closed Beta Test (CBT)
- CBT Schedule : July 26 ~ 27, 2018 (2 days)
- CBT Video Upload: July 30, 2018
This CBT will test the entire process of the FuzeX transaction flow between the ‘issuer — FuzeX App/Server — Exchange(User Wallet)’, to check all steps are being processed as designed.
FuzeX is currently in the process of acquiring an activated BIN number for transaction authorization from a global credit card brand company’s payment network, therefore, the Beta Test will be processed on a closed network on the 26th.
The Field Test via the mentioned global credit card brand company’s network will take place after a successful CBT.
<What is CBT / BIN / Field Test>
- BIN : A bank identification number (BIN) is the initial four to six numbers that appear on a credit card. The bank identification number uniquely identifies the institution issuing the card. The BIN is key in the process of matching transactions to the issuer of the charge card.
- CBT : Developers release either a closed beta (also called private beta), or an open beta (also called public beta); closed beta is released to a restricted group of individuals for a user test by invitation, while open beta testers are from a larger group, or anyone interested.
- Field Test : Field Testing is the critical, final stage of CV, (customer validation) which occurs after you’ve completed successful Alpha and Beta Tests. This test type focuses on the unguided, natural contextual usage of a product by collecting ongoing qualitative and quantitative customer feedback over an extended period of time in real environments.
FuzeX Marketing
FXT Buy-back for Marketing Allocation
The FuzeX whitepaper states that 10% of total raised funds (40,000 ETH) will be used and allocated for marketing. However, there is no stated FXT allocation for marketing activities. FuzeX Team is planning different strategies to increase brand awareness for short- and long-term, and create value in the market by utilizing FXT. Therefore, the team will buy-back FXT using partial marketing budget in ETH to proceed with plans such as airdrop, bounty, and exchange related marketing schemes.
Airdrop Event
- Airdrop Event Announcement : July 11, 2018
- Airdrop Event Start Date : July 13, 2018
An airdrop event will take place to celebrate the CBT on July 13th.
Registration for the airdrop will open on July 13th and details regarding total token allocation, schedule and eligibility will be announced on July 11th.
Bounty Program
A FuzeX bounty program to increase inflow through brand awareness will take place starting on July 18th.
Bounty details regarding registration and rules will be announced on July 11th.
FXT Lock-Up Promotion
A FXT lock-up promotion is in plan for process. After a certain amount of FXT is locked over a certain period, FuzeW(Hardware Wallet) will be rewarded at the end of the lock-up period.
Further details will be announced on July 11th.
Victorious Team Joined FuzeX Team
As of July 2nd Team Victorious joined for a smoother and clearer communication between the community and FuzeX. FuzeX Team is always grateful for the utmost interest and support from the community. We will work diligently to continue to improve as we move forward. Thank you again.
FuzeX at Events
Blockchain Open Forum Panel
FuzeX CSO Daniel Kim attended the Seoul Blockchain Open Forum as a panel on June 28th. The topic of the session was ‘The Future of Payments’ and with Jason Jang, GBF KR director as mediator, Bobby Bao(co-founder of Monaco), Seo Sang Jae(founder of PayX), Lockholm Sten(Adara), Chang Geun Lee(Keypair), and Jake Goh(Rate3) shared their insight on the subject.
<Main Questions — FuzeX>
- Moderator: Is blockchain/crypto payment possible at public user level?
- FuzeX: Perhaps and perhaps not. It is an early stage for cryptocurrency payments at the moment because of the uncertainty and the price variability that cryptocurrencies has. The merchant that receives the actual payment needs to view and receive crypto as a safe asset but that is not happening at the moment. That is why we need a medium body that can exchange crypto to fiat money and FuzeX is the company that can make that possible.
- Moderator:. The biggest hurdle for cryptocurrency payment and for using blockchain platform are fees. How do you plan to overcome this hurdle?
- FuzeX: Truthfully speaking the fee isn’t the biggest hurdle. The biggest hurdle is limitation of acceptance. There are a lot of problems to overcome. First is the technical problem such as the need to change the terminal device and second is that contracting with merchants is impossible because the value of cryptocurrency is unstable. Therefore increasing acceptance is the most important step to securing stability.
- Moderator:. If it is possible to integrate each project’s system on top of current system or if each mush build a new infrastructure.
- FuzeX: We believe that maintaining the current form of consumption is important because we are offering a payment service platform. We chose a card form because the focus was on a more intuitive and comfortably usable UI. It is important to offer the same user experience as before(card form) by using various payment systems and we offer more convenience by adding a display that shows real-time exchange rates and more.
The session was attended with interest as the need of convenient cryptocurrency use is increasing. As many projects have tried but haven’t provided a clear solution to this problem, many people listened attentively to the discussion to be informed on the possibility and the solution through the session.
Events
Chainers 2018
FuzeX attended the Chainers 2018 held in July 1st~2nd, and took time communicating with many Chinese projects and understanding current Chinese trends.
Blockchain Partners Summit
FuzeX will attend the Blockchain Partners Summit taking place July 21st~22nd at the Walkerhill Hotel. International industry relations and Korean business participants who were unable to attend the previous summit(as it was held during the week) are expected to attend the summit held on the weekend.
Binance CEO Changpeng Zhao, Qtum CEO Patrick Dai, NEO CEO Da Hong Fei, Bitcoin.com CEO Roger Ver, Trom Justin Sun and more are attending as guest speakers.
Beyond Blocks Summit
FuzeX will attend the Beyond Blocks Summit held during the Korea Blockchain Week and meet many domestic and international projects to be informed on current trends and to advertise FuzeX. Meetings for new strategic partnerships are scheduled as well.
New Contents
Cobinhood AMA
As announced, approximately 100 questions were received from the Cobinhood users and few of the important questions were chosen and the AMA was recorded. The AMA video can be found on the Cobinhood Youtube channel or our Facebook page.
One-pager (Eng)
The English one-pager is ready and can be found in Press Kit at the bottom of the website.
Whitepaper (Kor)
The Korean whitepaper is ready for the Korean community. It will be uploaded to the website on July 12th.
