On November 5, 2019, the partnership between DigitalBits and Pundi X was announced. The DigitalBits XDB token is to be integrated with Pundi X’s global ecosystem, laying the foundation for XDB and assets tokenized on the DigitalBits blockchain to leverage Pundi X’s financial products, including the XPOS, Pundi X’s flagship product and the world’s first blockchain-based point-of-sale solution.
Recently, Ashton Addison of EventChain conducted a joint interview with DigitalBits VP, Michael Luckhoo, and Pundi X Director of Global Development, Melcom Copeland.
What is Pundi X?
Launched in 2017, Pundi X specializes in the provision of blockchain-powered devices, including the XPOS point-of-sale device, the XWALLET mobile application and the XPASS card, a physical NFC-enabled, cross-chain digital asset card that can facilitate real-world crypto transactions. Additionally, Pundi X has developed the world’s first blockchain phone, officially known as “Blok on Blok” or BOB.
Pundi X seeks to promote financial inclusion through blockchain technology, and enhance the accessibility and value of digital currencies to people across the world. Their network is currently in the testnet phase, with plans to launch mainnet later in 2020.
What does the Pundi X Global Ecosystem mean for DigitalBits and XDB?
DigitalBits’ primary focus is the support of consumer digital assets, specifically branded currencies, inclusive of loyalty and rewards points, gift certificates, service credits etc., in addition to an asset category of growing interest, branded stablecoins. Integration with Pundi X’s global ecosystem increases access to DigitalBits’ based assets — users will be able to spend XDB and tokenized assets at over 7000 unique points-of-sale, as well as manage and spend via the XWALLET mobile application and XPASS card. This coverage looks to grow as Pundi X has expressed plans to ship over 100 000 point-of-sale devices.
Pundi X is also pursuing strategic partnerships to further expand its ecosystem, namely Verifone and Ingenico, two of the four top manufacturers of point-of-sale hardware worldwide.
Pundi X devices emulate familiar payment solutions, reducing the learning curve associated with the consumption of new technology. This aligns with DigitalBits mission to compliment consumer learned behaviour and facilitate mass adoption of blockchain technology and digital assets.
A Shared Vision
Both DigitalBits and Pundi X have expressed ease of use as a core objective.
DigitalBits technology has been created integration ready, optimizing the backend infrastructure of existing applications rather than presenting consumers with a foreign interface. In supporting consumer assets such as branded currencies, DigitalBits enhances existing asset classes that consumers are familiar engaging with, that are actively used and circulated. Pundi X devices ressemble today’s widely used payment solutions, providing users with the means to transact with alternative currencies, such as digital assets, in a familiar environment.
The combination of familiar asset classes usable via easy-to-use devices sets the stage for a holistic migration to blockchain technology. Below, you can see one of the first XDB transactions performed on the XPOS device.
*Note – This was originally posted on Digitalbits’ Medium.
For more Digitalbits content on The Daily Chain see the links below:
The Daily Chain
Inform Educate Succeed.
*Disclaimer – Digitalbits are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.