October 2018 Product Update

Hello all, it’s been a busy October 🎃

This month we’ve got some exciting updates from Product and Engineering, which we’ve uploaded to the Token Timeline on Product Plan — here are the big updates from October:

  • Final sign-off for our card issuer
  • KYC/ Identification and Verification partners, signed
  • External Smart Contract audits
  • TokenCard “proof of concept”
  • User experience audits from our Alpha testers (thanks!)
Check out our month-on-month Product Plan

💳 Soon™️ Step 1 Completed

Last week we secured the final sign-off from our card issuer. Anna spoke a little about what this means in this blog post, so here’s a reminder — working with a card issuer allows us to get cards out there to our community in a seamless, regulated manner. With the agreement signed, we’re already working on “proof of concepts” in terms of how the card will work in the hands of users.

This is really exciting for the team here at Token, and we’re looking to carry this momentum into the rest of the year and tick off the remaining items on our Soon™️ to-do list. Once we do, you’ll find out here first.

🔍 KYC/ Identification & Verification Partner, Signed

As a financial product in the FCA Sandbox, we’re committed to baking compliance into everything we do — a big part of that is “Know Your Customer”, or KYC. Earlier in October we signed an agreement with a KYC partner, to ensure that we can run a user-friendly and compliant KYC process for all TokenCard users. On the Engineering side, we’ve already invested a lot of time in getting the KYC services integrated.

Having a robust KYC procedure in place is important on a few fronts — importantly, it protects both our users (that’s you!) and those others who would be at risk from activities such as money laundering.

⛓Smart Contract Audits

Throughout September, we invested a lot of time and effort into ensuring that our Smart Contracts were ready for external review. We’re happy to announce that in October we were able to pass the Token Smart Contracts on to two external auditors to review.

Why is this important? Going through a rigorous audit process gives us the best possible chance of ensuring we’re building a secure product, and allows us to iron out any technical wrinkles early.

🇨🇿 Getting Social at DevCon IV

Mischa, Mel, Anna, and Yannis spent the last week of October at EF Devcon IV in Prague! From a Community perspective, this allowed us to see what other projects within the community are working on, which is always incredible inspiring. From a Product point of view, we were able to meet a bunch of potential partners and get a user experience (UX) audit on the TokenApp Alpha.

Getting constant feedback from a diverse range of users completely shapes how we’re building the product — feedback from our community has already gone into how we’ve designed the “Gas” mechanic in-app, making it more accessible for blockchain geeks and newbies alike.

On that note, the Product Team have spent a lot of time catching up with our existing Token Alpha users to hear what they love, and what they would like to see improved within the app.

We’re looking forward to getting more of our community members involved in the TokenApp Alpha test, and hearing what you think. Until then, cheers!

Team Token.


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