Pundi X

Pundi X is the developer of a blockchain-based payment platform for multiple cryptocurrencies with the stated-objective of making cryptocurrencies easy and accessible for widespread use. It is the world's first company to develop a point of sale (POS) device allowing cryptocurrencies to be used in physical shopfronts.

Pundi X is Indonesia's largest blockchain project and has recently announced the opening of offices in Seoul, Tokyo, London, Sao Paolo and Shenzhen.

Background

Based in Jakarta, Pundi X completed fundraising in January 2018 and raised $35 million in 90 minutes from 30,000 contributors in a public token sale "Crowdfund Insider". Crowd Fund Insider. Retrieved July 25, 2018. Its founders previously developed Pundi-Pundi, one of Indonesia's most popular offline, QR-code based payment applications before moving into the development of a cashless payment solution using blockchain technology.

Pundi X is Indonesia's largest blockchain developer but has expanded its global presence to include offices in London, Tokyo and Seoul Hamacher, Adriana (2018). "Pundi X Moves Into Europe". Blockchain News.

Technology

Pundi X is targeting a rollout out 100,000 of its XPOS devices and the company has said its current pre-orders include more than 25,000 devices."CNN Turkey". 2018.

As at July 25, the company has a market capitalisation of more than $250 million "Coin Market Cap". Coin Market Cap. 2018. It began rolling out devices in markets such as Hong Kong for pilot testing in early July before its first deployment of 5000 devices. Lee, Georgina (2018). "Hong Kong Retailers Accept Bitcoin Payments With Indonesian Start-up Pundi X". The South China Morning Post.

Currencies available for use on the first generation of the XPOS include the Binance token, Bitcoin and Ethereum.

The XPOS is secured to handle payments via protections around its CPU and surrounding area, using Pin Transaction Security and tamper detection which will trigger a security alert and delete any sensitive data if disrupted. Both the CPU’s unique ID number and a randomly generated encrypted key protect the FLASH data and encrypted public key, safeguarding the XPOS’s underlying data; BOOT; and KERNEL.

References

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