Genaro and Pundi X come together to widen cryptocurrency adoption and boost the integrity of cryptocurrency payments
GNX to be used to buy and sell goods in retail stores around the world via the Pundi XPOS.
Singapore — June 21, 2018 — Genaro and Pundi X have announced a new partnership to further popularize the real-world use of cryptocurrency payments and make them more secure and decentralized.
The partnership simultaneously makes the GNX available on Pundi’s world-leading blockchain-based point of sales (“POS”) device while also enabling the device to use Genaro’s innovative blockchain storage technology to process transactions.
The Pundi X POS allows stores to use a blockchain-based payments system to conduct transactions in multiple cryptocurrencies. Genaro’s ecosystem, first dual-layer public blockchain and storage network, enables the deployment of smart contracts and the storage of data in a secure, decentralized way.
The partnership comes as Pundi X’s technology is about to be deployed to global retail markets across Switzerland, Singapore, Japan and Korea and as Genaro is poised to realize major developments in its ecosystem including the launch of a new secure and scalable public blockchain.
Originating in the dynamic and diverse consumer economy of Indonesia, Pundi X grew out of one of Indonesia’s leading QR-code-based payment apps with more than 100,000 registered users.
The Pundi X POS expands this innovation into the world of cryptocurrencies by allowing consumers and retailers to conduct in-store transactions for everyday goods in multiple cryptocurrencies with the ease of buying a bottle of water.
As Genaro continues to evolve, the founders and developers see bringing blockchain to the forefront of daily life as a crucial step in the technology’s evolution. Some skeptics may argue that so long as they remain absent from the daily lives of most consumers cryptocurrencies will only exist on the margins of the economy.
Creating a secure POS device that can be used for everyday consumption will be an incredibly powerful step to bringing the application of blockchain technology to the real world. The partnership with Pundi X also follows recent agreements to collaborate with cutting-edge blockchain projects like Zilliqa, Storj Labs and others.
In addition to bringing GNX to leading international markets soon Pundi X retailers will also be able to choose Genaro Eden, a blockchain storage application to store the data powered by Genaro Network, as their data service provider to ensure that their customers’ transaction data remains secure and private.
“The Pundi X-Genaro partnership is a bringing together of two examples of world class innovation in blockchain technology,” said Larry Liu, CEO and founder of Genaro Network. “We are proud to have offered a leading enterprise solution for developing decentralized storage and security.
”But the ability to bring these innovations to the retail store and connect with the lives of everyday consumers is a new frontier which greatly excites us”.
Zac Cheah, CEO and Co-founder of Pundi X added: “The benefits of this collaboration is mutual. Genaro Network provides a sustainable and secure platform for XPOS retailers who want to adopt blockchain technology in their business to store their data. Consumers are also presented with a greater range of choice in the fast-developing market for cryptocurrency transactions.
“We welcome the addition of Genaro to the Pundi X ecosystem as a key development for bringing blockchain applications to wider adoption in the real world”.
About Pundi X
Pundi X is a multi-cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies in the world. Pundi X POS enables shops, cafes and convenience stores to facilitate cryptocurrency transaction for the average consumer. Pundi X builds on the success of Pundi-Pundi, one of Indonesia’s popular QR code cashless payment apps, has already signed up more than 100,000 registered users and over 600 merchant partners in Jakarta in less than a year of operation.
To build a better cryptocurrency ecosystem in different countries, Pundi X is a founding member of XPOS Consortium and Indonesian Blockchain Association. The company is also a member of Singapore Fintech Association, Fintech Association of Hong Kong, ACCESS, and Swiss Finance and Fintech Association.
For more information, please visit https://pundix.com/.
About Genaro Network
The Genaro Network is the first Dual-Layer Public Blockchain and Storage Network for Smart Data. Genaro’s mixed consensus uses SPoR (Sentinel Proof of Retrievability) and PoS (Proof of Stake), ensuring stronger performance and security. Genaro provides developers with a one-stop platform to deploy smart contracts and store the data needed by DAPPs at the same time. This will provide everyone with a trusted Internet that connects the real world to the blockchain securely.
For more information, please visit https://genaro.network