Plutus Bi-Monthly Report — New Year (Jan 1/2)
Welcome back, we hope you have enjoyed the break and prepared yourselves for Plutus’ biggest year yet. Our upgrade is only a few months away and we are in the midst of integrating some seriously big developments that will be made public in the following week.
This report will be covering the progress made across the December period.
- You can trade BTC, ETH & PLU on our BETA PlutusDEX platform with 0% fees.
- Our BETA Plutus Tap & Pay mobile app is available on Android and iOS.
- We aim for a complete product upgrade (cards, DEX & app) in Q1 2019.
In the last month of 2018, we released a summary document of our entire year’s developments. This detailed all the major blockers, product achievements and notable highlights experienced by Plutus across the 12-month period. If you are yet to read the report, please take a look here.
We also made several key hires who have proven to be great additions to the team. Our newly acquired CTO, Patryk Rzadzinski, as well as our experienced Product Owner, Minyi Soon, are greatly streamlining the processes required to hit our product goals.
We have also upgraded our ticketing system. We are now using JIRA, an issue and project tracking software which we believe will improve the efficiency and management of any problematic matters that may arise, both on the customer and company side. All our previous data from Trello has been migrated across.
The department has been analyzing and improving the configuration of our kubernetes cluster in the cloud to identify areas of improvement to our high availability (HA) capabilities.
For safety purposes, we want to be aware of any activities that could be perceived as dangerous to our users or company. We have made several infrastructure improvements to our alarm and monitoring system to ensure the prevention of such activities.
The team has also been preparing for updates to the cluster of our latest software version. The rest of the time has been spent on deploying changes that will fix bugs relating to our corporate website and PlutusDEX.
The Plutus 2.0 platform is greatly focused on the feedback from our customer satisfaction survey and we look forward to the feedback and responses of our upcoming version release.
The marketing team attended FinTech Connect 2018 last month which was a great networking opportunity and helped identify potential partners we could use to integrate additional product features into our platform with.
Some final changes have been made to our first corporate video which we will use to educate the general public on our purpose and current product. This will be going live in the coming months followed by a series of additional educational how-to videos.
You may also have noticed our new report layout; we aim to deliver more engaging reports, both aesthetically and content-wise, to encourage user engagement.
The marketing team has been working rigorously through December to plan the next 12 months of activities and we have some very exciting developments to announce over the course of 2019. Last year we generated some great press coverage with leading media outlets and we expect this year to be much bigger.
Over the course of 2019, our digital marketing is being ramped up in line with our card release and new product versions, we are also planning to expand our customer reach to new territories over the course of the year.
Please stay tuned for our Plutus 2.0 update to be released in the following weeks, we have made some monumental changes that we believe are revolutionary to our platform. Our focus has so far been on security, however, our previous research has made us aware of the need to improve our product user experience. We are not only overcoming this, but we are also introducing some additional features that will transition us into a superior payment’s provider. Please stay tuned for an upcoming announcement to be released as soon as possible.
Fact: Approximately 850,000 Bitcoins disappeared from the Mt. Gox exchange, the coins belonged to both the customers and the company. It is unclear whether the disappearance was a result of theft, fraud, mismanagement or a combination of these.
Unlike any of the other digital currency payment platforms out there that require an exchange to facilitate the transactions, this type of event could never happen to Plutus. Our model is designed to be non-custodial, meaning we at no point store the funds of a user, instead, users are in complete control of their assets all times which makes their assets immune from company hacks, corruption, downtime etc.
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 and we will be proclaiming some very important ones shortly. Please be sure to follow us here.
Our Telegram is the best place to get in touch with the team or community, find answers to FAQs, get customer service help on our products, and hear about bounties or giveaways (there is a strong chance you could win €200 worth of PLU just for participating in our Telegram group). Make sure you join us here.
We also stay active across a range of other social media channels. If you want to stay as informed as possible on the Plutus project, you can follow us across these.
For our new readers, here is a brief background on Plutus and our original goal. Plutus was founded in 2016 by CEO, Danial Daychopan, a serial entrepreneur who has been active in the groundbreaking blockchain and cryptocurrency sector since 2013. His aim is to build a complete digital currency payments platform that enables the use of cryptocurrencies for day-to-day spending via a Plutus debit card or Tap & Pay mobile app.
This will be achieved by combining a payments processor with our very own P2P decentralized exchange known as the PlutusDEX. This lets you seamlessly convert the amount of Bitcoin necessary for a purchase into spendable fiat which can then be used in-store. This overcomes the slow process of merchant adoption and empowers the user to utilize their cryptocurrencies at over 40 million stores worldwide.
Other brands in the same payments sector are using a centralised exchange to facilitate the crypto-fiat conversions however we believe this a jeopardy to the users given the rising number of centralised exchange hacks, corruption, downtime etc. Plutus never store the funds of a user which makes it immune from such risks and the most secure option available.
We are also the most rewarding to our customers, Plutus users receive up to 3% of their cryptocurrency deposits back in the form of Pluton (PLU), the company’s native utility token. Unlike ordinary loyalty reward programmes, PLU stays true to the decentralised nature of the sector, meaning you can spend them on anything, anytime, anywhere.