Plutus Monthly Report — Audit Results (October 2019)
Welcome back to our monthly report, Plutus has received some exciting results and the team are looking forward to releasing our high-quality finance app.
Pinned Announcements
- Access to features is available to team accounts and members of our Pilot Programme.
- The aim of the Pilot is to gather feedback from our community in order to provide an improved platform for the wider audience.
- Our site and a new app will be available to the wider public once the pilot ends, unveiling our new live features.
Development Update
Implementing Small Details
The team has implemented a number of small changes including download functionality of our T&C and Privacy Policies in PDF form as required by law; we have also changed our email workflow so users can update their email addresses and subsequently authenticate it with minimal effort. The team has polished up a number of small detailed tasks that needed to be resolved before public release.
Back Office
The team has upgraded user management features so our back-office can allow the Compliance team to monitor and suspend users when they are suspected of foul play or suspicious activity. As a highly compliance-oriented company, we are ensuring the team say vigilant about any potential malicious activity.
The developers have also strengthened our back-office dashboard which will greatly empower us to manage and monitor the business’s overall health and security.
Marketing Update
Notification Emails
The team has created an informative design for our automated emails to reduce any potential pain points for the end-user; this includes all system notifications, product notifications, and KYC related emails. The development team is currently implementing these to our back-end systems.
Website Design
We have developed new sub-pages with an interactive design for our corporate website; this includes the About, Accounts, Card and PlutusDEX pages. These will be implemented this month so newcomers can rapidly educate themselves on our product offerings and fees.
Video Progress
We are creating how-to videos and developed several informative videos to guide you through the user journey. These will become available periodically alongside the upcoming expansion of our Early-Bird user group.
General Update
Audit
The most important event of the month has been the final audit with our banking provider to take an in-depth analysis of our systems and processes; this ranged from the services we deliver to our customer support approach, and most importantly the vigorous testing of our platform's security.
We have now successfully reached a historic milestone for the company which marks the beginning of our journey. Plutus can now release our web and mobile platforms to the public and issue slick Plutus Debit Cards.
Clarifying Fees & Limits
We have ensured our costs are more competitive than alternative crypto finance apps on the market in order to increase our appeal to the wider community.
The team will be offering two different account types:
- A basic version for less committed customers — this comes with tighter limits and a very modest exchange fee.
- A premium version for higher usage customers — for a small subscription fee, users can gain access to unlimited and fee-less conversions whilst experiencing a wealth of other ‘members’ benefits.
Plan of Action
Rather than open the floodgates all at once, we have implemented hard limits on the number of users who can use our app which will increase incrementally. This is to help manage demand, guarantee our servers can handle the load, and help learn from our Early-Bird users the next courses of action.
Anyone who downloads the app after we have reached our temporary user-threshold will be placed in a queuing system and receive full access very shortly after. Keep an eye on our social channels to secure your place.
Fact: The world’s fastest supercomputer, Summit, costs $200M, and the high-tech machine is capable of making 200 million billion calculations every second. Despite this, media reports have shown Bitcoin to be more powerful than the top 500 supercomputers combined.
Although the Bitcoin network is incredibly secure, many cryptocurrency companies aren’t, and this results in countless thefts and attacks. We have designed our systems to be as decentralised as possible so users can enjoy the wealth of benefits cryptocurrencies offer without the associated security concerns.
Social Reminder
As always, we would like to remind you of our various social media platforms. Our Medium page is the best place to stay up to date with company announcements; we have reached an exciting period of development and you can expect plenty of major updates in the coming weeks. Join us here.
Our Discord channel is a great place to get in direct contact with the team or community. You can find answers to FAQs, receive customer service help with our products, or hear the latest on our bounties/giveaways on this channel. If you have any questions, make sure you reach out to our staff here.
We also stay active across a range of other social media channels. If you want to stay as informed as possible on Plutus, make sure you follow us across these.
About Plutus
Plutus is a non-custodial finance application that incorporates digital currencies, this is a revolutionary development that has never been achieved before.
There are five elements that make Plutus 2.0 the ultimate finance app. You can…
- Manage your fiat
- Access your crypto from the same interface
- Freely and securely exchange between the two asset types
- Spend anywhere via a Plutus Debit Card
- Earn blockchain-based tokens in the process
Users will be able to deposit GBP/EUR directly into their very own Plutus Current Account. We are also integrating a very well-known 3rd party decentralised wallet provider so you can access your cryptocurrencies from the same user interface. The ability to manage both asset types from a single app brings much-needed convenience and simplicity to a tech-heavy sector.
We are also integrating our PlutusDEX into the mobile app so users can buy and sell cryptocurrencies seamlessly without the security concerns. Plutus is non-custodial on the crypto side which means the users are always in complete control of their funds; any company hacks or downtime will have no impact on the users’ digital currencies.
Users will be able to spend at over 400 million merchants, online and in-store, using a Plutus Debit Card. The integrated exchange means users can seamlessly convert the amount of crypto necessary for a payment into their native currency and spend in-store.
Those who deposit funds (fiat or crypto) to their card balance and spend will receive up to 3% back in the form of Pluton (PLU). PLU can be sent to friends on the blockchain, converted to cash using our services and more. Rewarding users for everyday shopping on a debit card will inadvertently introduce regular consumers into the cryptocurrency ecosystem and encourage mass adoption.
