PUNDI X — Any store can buy, sell and accept Cryptocurrency

Pundi X Platform Starting with Indonesia, the largest country in South East Asia, our team aims to provide retail outlets, restaurants and convenience stores with Pundi X Point-of-Sales (POS) devices so that customers can use the cryptocurrency held in their accounts to make daily purchases such as sugar and rice.* In this way, Pundi X POS devices become the latest participants in the global blockchain and consumers benefit because they can use cash, credit card or a digital wallet to buy anything. * These purchases using Pundi X are carried out by first selling a fraction of a unit of cryptocurrency and buying the local fiat currency (Dollar, Rupiah etc.) and then local currency is used to buy products or services. For example, if a pack of sugar costs 1 US Dollar, users will sell approximately 0.00025 BTCs (Bitcoins) for 1 dollar and then use fiat currency to buy the pack of sugar. (Rates are calculated in real time; the fiat currency selected is the local currency.)

What is Pundi X POS

The Pundi X POS is a smart device that is built to distribute cryptocurrency and is connected to the blockchain, so that each transaction is recorded. Consumers use Pundi X POS to:

buy BTC, ETH, LTC, PXS and cryptocurrency using cash or card
sell BTC, ETH, LTC, PXS and cryptocurrency for cash
top up fiat money in a digital wallet
buy utilities and services, e.g. electricity using cryptocurrency
buy physical goods using cryptocurrency

1. VISION

The Next Billion Crypto Users

Pundi X will help to generate demand for new and old, as well as big and small
cryptocurrencies. No other online cryptocurrency exchange can bring in new
cryptocurrency users from this segment and in the same number, thanks to our
powerful focus on attracting the consumer market.

From 9 million to 100 million

With future growth in mind, let’s look at some relevant statistics as of October
2017:
- Bitcoin price is approximately USD 6,000
- Bitcoin market capitalization is approximately USD 100 billion
- Trading frequency is 250,000 times
- Trade volume is USD 900 million.
With trading volume accounting for 1.1% of total volume, the reason bitcoin had
such respectable numbers is because there may be as many as 5.8 and 11.5 million
- an average of 8.7 million — active wallets. However, the global bitcoin wallet
ownership numbers do not even reach 2% of the population of South East Asia. (Source : bitcoin.com blockchain.info)

Just take a few seconds to absorb this information … what if we could
introduce another 10 million, even 100 million users … what kind of impact
would this have on the cryptocurrency landscape?

100 million users in 3 years

Pundi X is concentrating initial traction efforts on South East Asia. Half of all
South East Asians live in Indonesia. We have local team with a deep understanding
of the Indonesian market — plus we have track record, connections and products to match the local market’s needs.
We will spend the next two years building an extensive coverage of convenience stores, shopping malls, retail shops, chain outlets, cafe, restaurants
and other outlets. We will use Pundi apps to coverage an even greater number of smaller sellers. Our goal is for users to be able to buy and spend cryptocurrency within a five minute walk of any location in Jakarta.

With our initial outreach in Indonesia, we intend to expand into Thailand, Malaysia, Singapore, Japan and other regional markets simultaneously. Our plan is to cover South East Asia within three years. At the same time we will explore other parts of Asia, the Americas and Europe using our open source and open specification for adoption of our protocol. In this way we can achieve our objectives in sales of cryptocurrency; usage of cryptocurrency; and growth of cryptocurrency.

100 million to 1 billion in 5 years

Pundi X Platform will be provided as open source and the hardware reference implementation specifications will be provided under Creative Commons. The Pundi X solution will therefore be readily deployable across the world in regions outside of Indonesia. With these international deployments, Pundi X will be able to reach the 1 Billion user mark.

2. MISSION

The next billion

Cryptocurrencies, while capturing the imagination of 8 million people has almost no meaning or value to most of the world.
Pundi X seeks to bring cryptocurrency to the next Billion users.

Benefits

By achieving this goal, Pundi X will help increase the value of cryptocurrency for all users.

3. PROBLEM

- Complexity

One of the hardest problems in crypto is how to radically reduce the complexity of handling cryptocurrency. Pundi X solves this problem through several end users layers including a mobile wallet and a contactless smart card.

+The Mobile Wallet

The mobile wallet is a helpful component because it solves the handling of private and public keys. Instead of managing a long and complicated blockchain public key, it may be preferable for end users to simply maintain a password-based system that is much more familiar. Increasingly mobile devices can be secured by fingerprint or face recognition, so even the password may become too complex for
many users and in fact a point where the complexity can help create a security risk.

+The Smart Card

The second layer that reduces even more complexity is the use of a smart card. The card can be used with or without the mobile app, and one member of the family could use the mobile app to charge up multiple cards that can be used by other members of the family. By empowering users with a contactless smart card, this enables users to avoid even the complexity of navigating a smartphone app.

+The Pundi Platform

The Pundi Platform is the final round-up in solving the complexity issue. As a both software and hardware, the full stack implementation allows the merchants to PUNDI X ICO 9 integrate their existing POS device by connecting with the Pundi Platform and accept payment in lieu of purchase/sale of cryptocurrencies and sale of daily goods & services. The hardware allows the use of the Smart Card and any Mobile Wallet, whereby addressing the inter-operability complexity.

-Relevance

As mentioned before, the fact that most cryptocurrencies can only be used to buy other cryptocurrencies reduces the relevance of them to almost zero for most people. Thus the problem can be reduced to this: how can cryptocurrency be converted to fiat currencies for use in a “normal” everyday retail store to buy just about everything? And how can fiat currencies be used to buy cryptos just about anywhere?

+Crypto to fiat

The standard way in crypto banking to solve the problem of Crypto to fiat for consumers is the “Bitcoin Debit Card”. This leverages the VISA and MasterCard networks and enables users to access as many as 43 million Point of Sale (PoS) terminals around the world.
One of the problems that has cropped up in this space recently is that VISA and MasterCard have both blocked the access to their networks for crypto debit cards. So for many geographies, another solution will be needed.

+Crypto to crypto to fiat

Pundi X offers support to point-of-sale devices through a full stack reference implementation of a contactless NFC mechanism that transacts directly with the cryptocurrency blockchain.
The Point of Sale (POS) devices can become active on the Pundi X network through
multiple means including:
1) The full Pundi X reference implementation stack. Pundi X is giving the full hardware reference implementation to retail environments as their primary POS device in Indonesia.
2) SDK –another easier approach is for existing POS device manufacturers to use the open source PundiX library to support crypto to crypto to fiat transfers.
3) Mobile app — one of the easiest ways for a Point of Sale to include this payment protocol is simply to download the mobile app onto a compatible device, Some retail environments may even choose to use an Android phone or an iPhone (like the Apple Store) for customer checkout. Another approach would be to use an android or IOS tablet device with the software. The existence of any of these solutions allows the point of sale to sell anything for cryptocurrency without the use of the VISA or Mastercard service by going directly to the cryptocurrency blockchain to record transactions.
PUNDI X ICO 10 After these transactions are recorded, the Pundi X device or API reports back to Pundi to ensure that the merchants and retailers are paid back in fiat.

+Fiat to Crypto

How do Pundi X users buy cryptocurrencies? Three primary ways:
1) The mobile wallet can allow users to directly purchase cryptocurrencies
2) Mobile to card — users can transfer cryptocurrency from the mobile app to cards. An example of where this might be useful is if a member of the household has minor technical skills, they can set up crypto backed debit cards for the rest of the family and they don’t even need to worry about working a phone app.
3) POS to card: for the simplest use case and for users who don’t even have smartphones, the Pundi X system enables the POS, whether it be the full hardware reference implementation, the mobile app or a tablet powered by the mobile app to directly be charged by a cryptocurrency.

SOLUTION

Pundi X aims to bring in the next billion crypto users as it allows users to buy cryptocurrency anywhere and anytime. This will make PundiX the world’s largest decentralized, offline cryptocurrency sales network. It is ‘decentralized’ because the ecosystem and transaction records live on the blockchain. It is ‘offline’ because our entry point is via Point-of-Sale (POS) devices installed in physical outlets. Pundi X allows for three customer use cases. It enables users to:
1) Buy or Sell cryptocurrencies through a Point-of-Sale (PoS) device
2) Buy anything using cryptocurrency through the Pundi X POS device (retail point-of-sale)
3) Pay peer-to-peer using mobile (like PayPal)
Pundi X consists of:
- Pundi X Mobile App — a smartphone app used to do the following things:
- buy BTC, ETH, LTC, PXS and cryptocurrency using cash or card
- sell BTC, ETH, LTC, PXS and cryptocurrency for cash
- top up fiat money in a digital wallet
- buy utilities and services, e.g. electricity using cryptocurrency *

• PundiX card — will be the physical multi-currency wallet for fiat and cryptocurrencies available for purchase and sale via the PundiX platform. The PundiX card also facilitates payments via cryptocurrencies held in the card through NFC and contactless technology.
- Pundi X Platform — a reference implementation stack including
software and hardware that performs the full Point of Sale (POS) device function. Our reference implementation hardware is already in deployment in convenience stores and retailers, and we will further distribute the platform through open source licensing and distribution of the SDKS and open APIs.

Effectively, PundiX will become:
1. World’s largest offline cryptocurrency sales network by connecting existing POS devices and PundiX devices to the PundiX Platform
2. Your very own Crypto debit card — Pundi X card
3. An Offline Crypto exchange allowing for more liquidity in cryptocurrencies