The Plutus Debit Card — Delivered!
We opened our mail… and found the first ever Plutus Debit Card!
A short time later it already made its way to the hands of the Plutus development team, who are currently testing deposit and payments functionality to make sure everything works as intended and allows for a smooth customer experience.
You will be able to order your own card directly from inside the app, for free. If you can’t wait and would like to try these features right away, read below to find out how to apply to our BETA testing program.
After our most recent BETA release (version 0.2), members are now able to order a personal debit card from within the app itself. However, please note that during our initial release only users based in the UK and Europe will be eligible to order the Plutus Debit Card. Rest assured, we have already begun negotiating with regulators about expanding our global coverage.
And as promised, we will also be shipping our first batch of cards before the end of this year. Members will receive a loaded balance as an incentive to join our BETA and provide feedback. To apply, please join the waiting list on http://beta.plutus.it.
Regarding Pluton (PLU)
Pluton are the loyalty and rebate (utility) token included in all of our current and future products, which can be used for avoiding fees and making free payments.
Recently, a lot of our members have been asking us about marketing Pluton, and we would like to address their concerns. “Why don’t you promote PLU?” seems to be the main question.
Simply put, we don’t believe it is sensible to promote a token only for being a token.
Even though PLU will automatically be promoted whenever Tap & Pay and the PlutusDEX are actively used, advertising PLU itself may lead to speculation, something we do not currently want to get involved in. We believe it is sensible to avoid rush or hype expectations until the technology is ready to use.
Internal BETA test
It is an absolute certainty that Plutus will have significant marketing and advertising efforts in the build up to launch. With that in mind, it gives us great pleasure to announce we are now working with Filter Digital on our online strategy.
Filter Digital is an established digital agency, specialising in the technology, leisure, sports, travel and hospitality sectors with over 15 years of experience. They will be providing strategy & planning, social media, analytics and more for us here at Plutus. Other notable Filter Digital clients include Crystal Palace FC, GLH Hotels, House of Garrard, D&AD, and Live UK.
And as well as being in the process of looking for a Chief Marketing Officer, we now have a six month marketing road map, which starts from our first product demo by our CTO Martin Szyllo at Fintech Connect in London’s Excel on the 6th and 7th of December.
We still aim to keep a two-way communication channel open on Telegram to gather feedback from hundreds of users directly and provide regular updates and answer questions on the daily basis. We hold regular one-on-one demo with our community members of the latest tech with our CTO. Please let us know in our Telegram channel if you would like to request one.
Funding & Management
You may be aware that since Plutus was started, there have been some challenges along the way with both compliance and restructuring of the development team.
All of these have been overcome and we are now looking towards the next steps of scaling and releasing our services that we have been quietly building over the past year. Meanwhile, the Plutus team has grown from 1 to 15 strong already.
We have been prudent with our expenses. Over 75% of the funds in crypto are still available from our token sale, and our accounts are publicly available at the companies house with new ones being prepared to be listed at the end of December. The rest of the remaining funds will be used to scale up over the next several years.
As we prepare for the launch, we are also looking to hire:
- Chief Marketing Officer
- Full Stack Developers
- Customer Support Manager
- Support Assistants
How will you provide liquidity for the PlutusDEX?
There is a large amount of traders already on the PlutusDEX BETA, additionally an API is in development to enable exchanges to connect as well. Also from what we’ve gleaned after meeting traders at various events, the interest in this side of the process appears to actually be even higher than anticipated.
How long will the BETA last?
Since we are not building a straightforward debit card app that connects to a third party exchange, we will remain in public open BETA throughout the next year. Don’t worry though, you’ll be able to use all the features and spend your coins until then. And even better, there will be no fees charged on the platform until the Pluton reward program is available. And yes, it will support live currencies.
Has the rebate model been changed from the proposed formula on the white paper?
No, however the formula is being tested to accommodate a higher volume of Bitcoin and Ether deposits on the app. A detailed yellow paper is being prepared, and it will be available in due course.
Why don’t you respond to trolls and accusations?
Dealing with trolls is a self-perpetuating, stressful process and ultimately you can’t please everyone everywhere at the same time. We prefer to focus on exploring opportunities for Plutus instead.
What are your current plans for the development of your front-end, back-end and mobile technology?
- Release live currency deposits on the PlutusDEX. This will enable users to create buy orders at 0% fee to provide liquidity for the upcoming update of the Plutus Tap and Pay app. No KYC is needed for purchases of up to £100 or the equivalent in Euros.
- Release Beta v0.3 of the Plutus app, where users are able to place sell orders using Bitcoin, Ethereum and Pluton at 0% fees. (This will be released after a short gap later to allow liquidity to build up on DEX).
- Release BETA v.04. This update will include Pluton loyalty reward tokens for users, where a 3% fee is charged for deposits and up to 3% in Pluton emitted to the app account.
- Further releases will include improvements to the overall platform, as well as continued development of Tap and Pay features for your smartphone’s built-in NFC.
- DEX BETA Live — September 2017
- Launched app beta v0.1 — September 2017
- Launched app beta v0.2 (users can order cards) — November 2017
- Fintech Connect Live Product Demo — December 17
- Ship Plutus Debit Cards (first batch) — December 17
- App beta v0.3 (Create sell order and deposit crypto) — 2018
- App beta v0.4 (Start Pluton Loyalty) — 2018
- Finnovate Europe 2018 (Live presentation and product demo)
- Release v.05 (Smart Phone Tap and Pay feature)
- Conquer Crypto
Visit Plutus at Fintech Connect Live
Visit our booth on the 6th-7th of December at the FinTech Connect Live conference in London’s EXCEL. Our prodigious CTO Martin will be presenting a live demo of Plutus DEX and the Tap and Pay during his presentation to the Fintech audience. Best of all, this is the largest conference of its kind in the UK, and completely free to attend. See you there!
For those that are always looking for more news and information, join our members and team on Telegram: http://t.me/plutus_group
Originally published at medium.com on December 1, 2017.