Plutus Bi-Monthly Report — Fiat Withdrawal (Aug 1/2)
Welcome back to our bi-monthly report, over the last fortnight we have seen huge improvements to both our mobile app, and the weather. Having tackled several obstacles, the team’s sentiment is high.
- 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.
Mobile — Fiat Withdrawal
The tech team has successfully completed ‘fiat withdrawal’ functionality which will be rolled out to the pilot programme users prior to public release. This function enables users to withdraw funds from the platform to any external bank account in the UK and EU, as long as that account is owned by the user.
Cryptocurrency can be notoriously difficult to exit from, frequently involving multiple transaction fees and wait times. We have streamlined this process and greatly increased the liquidity of our users’ personal funds.
Mobile — Transitions
Having gathered feedback from our pilot users, the team are now exploring alternative state transitions that offer a more user-friendly experience. The task has been listed but we are prioritising other functional requirements before working towards this objective.
12-Week Social Timeline
The marketing team has mapped out the next three months of social activity, placing extra attention on Twitter and Instagram. Social posts will be centred around relevant dates on our calendar.
The team are continuing work on the content and design of our website, specifically the sub-pages that are yet to be updated to our new royal blue palette. We recently completed the copy for the ‘About Us’ section which details what we do, our values, and customer testimonials; this is currently in the design phase.
Our card packaging, and mailers, are both in the warehouse awaiting the completion of our Plutus Debit Cards. We have been reliably informed that card delivery is imminent, and we will update you upon their arrival. We have also received some additional bonus items to include in the post.
There is still a great deal of uncertainty as to how regulation will unfold within the cryptocurrency sector and we plan to be ahead of the curve in every possible area to guarantee our longevity in the market. The Plutus team has embarked on training modules surrounding AML, Risk-Assessment, Anti-Corruption, Anti-Fraud, and more. Our team of professionals will be vigilantly trained as part of our dedication to regulation and compliance.
Continuing on with our mission, we are planning to integrate a renowned Crypto AML provider who will increase our enhanced due diligence and evidence-based compliance procedures to ensure we are compliant when dealing with cryptocurrencies.
Rewards Phase 2
Over the last month, the team has been researching a vast number of potential reward partners for phase 2 of our programme. We have narrowed down the selection, and Plutus is now in further discussions with a small handful of suppliers; the team are happy with the options and their rewards. More will be revealed once we have confirmed a supplier and developed a concrete understanding of implementation.
Fact: There are 2²⁵⁶ different Bitcoin private keys, that is more than a 10 followed by 77 zeroes. If you could process one trillion private keys every second, it would still take more than one million times the age of the universe to count them all. Just enumerating that many keys would consume more than the total energy output of the sun for 32 years.
Although cracking a wallet is incredibly difficult, stealing the private keys is not as challenging. Centralised exchanges hold huge sums of user crypto-assets on hot wallets, which makes them very appealing to hackers. We use a decentralised exchange which means there is no central wallet to target.
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.
Plutus will be 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…
- Access and manage your fiat
- Access and manage 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, both 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.