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The global adoption of cryptocurrency could receive a strong boost at the beginning of next year, if Pundi X, a Singapore-based blockchain company, achieves its ambitious goal.
Now, despite the market crash, Pundi X is on track to implement 50,000 of its blockchain-enabled Point-of-Sales (XPOS) devices in the first quarter of 2019, as it aims to reach new crypto users and add dozens of Thousands of new nodes to its new blockchain ecosystem, the X function, Junde Yu, vice president (VP) of the company's business development, said Cryptonews.com.
XPOS, which sells for $ 300, has features that include the purchase of cryptocurrency like BTC, ETH, BNB and NPXS, a native token of Pundi X, and also the use of cryptocurrency for purchases in shop.
Therefore, the implementation of 50,000 of these units would increase access to cryptocurrencies and could help to strengthen adoption. In comparison, there are more than 4000 encrypted ATMs worldwide and over 140,000 other services that allow you to buy and sell cryptocurrencies in cash, according to Coin ATM Radar.
Pundi X has already shipped more than 5,500 units this year, said the vice president without providing the latest numbers. Going forward, the company sees the greatest potential for its XPOS in markets with less stable fiat currencies, such as Latin America and Africa, as it seems to accelerate the expansion and reach the people who they are not involved in the crypt at the moment.
"We still aim at the encrypted public, moreover, since it is easy to reach them", added the vice-president.
Meet our new XPOS merchants in #Argentina 🇦🇷 And yes, you can buy and pay #crypto as easy as buying a bottle of water! #npxs #npxsxem pic.twitter.com/sFDsTlrCRg
– Official account of Pundi X (pls do not send ETH) (@PundiXLabs) 5 December 2018
Larger plan
In addition to XPOS, the company aims to start shipping its blockchain-based XPhone phone in the second quarter. The first lot will include 5,000 units, which would cost less than $ 1,000 apiece, Yu said, adding that the final price will be announced later.
However, the implementation of XPOS and XPhones is only part of Pundi X's plan to build a blockchain with tens of thousands of nodes, as it is developing the X function, "a decentralized ecosystem built entirely for blockchain". According to the company, the ecosystem is already in the internal testnet that should be available for public testing in the second quarter. The mainnet is estimated to be launched in the second half of 2019.
"Our biggest plan is the open source of our SDK [software development kit] and APIs [application programming interface], so other manufacturers can create a similar blockchain hardware. It could be a laptop, a router, a refrigerator or whatever. All these devices would also be nodes on our blockchain, "the VP said, adding that any device that can be connected to the Internet can be part of the X-function ecosystem.
The blockchain of multiple nodes has more transactions than can crunch, making it more attractive for everyday use.
According to Yu, the vision of the company is to create a decentralized payment and internet system based on all these devices that are also blockchain nodes.
"With these nodes we can make it truly decentralized and very fast", he stressed.
He estimates that between 5-10 years there could also be two versions of the Internet: the usual and decentralized internet.
"And it is hoped that the decentralized internet is powered by the X function, which is not owned by us, and is owned by people who have devices from various manufacturers around the world," the vice-president said.
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