What is Pundi X (New)?

Pundi X (New) (PUNDIX) is a blockchain-based platform that seeks to facilitate everyday cryptocurrency transactions. Launched in 2017, Pundi X (New) strives to transform retail businesses by providing a blockchain-based point of sale solution. This solution enables retail merchants and consumers to conduct instantaneous in-store transactions on its blockchain. The platform has developed services such as XPOS, XWallet, and XPASS, and a blockchain phone, BOB. The Pundi X project's primary goal is to facilitate the use of cryptocurrency, simplifying the process of conducting digital asset transactions in physical stores.

How does Pundi X (New) work?

Pundi X (New) operates through a blockchain payment ecosystem that includes XPOS, XPASS, and the virtual XWallet. The XPOS is a blockchain-powered wireless point-of-sale (POS) for cryptocurrencies, enabling retail merchants and consumers to conduct transactions using digital assets in physical stores. The XWallet mobile app acts as a bridge between regular digital asset wallets and the Pundi X payment ecosystem. Users can manage their digital assets, make transfers, check balances, and top-up supported cryptos in the XWallet. The virtual XPASS card is issued to every registered XWallet user. In June 2019, Pundi X launched the Open Platform to support more blockchains, increasing its use.

What are the potential use cases for Pundi X (New)?

Pundi X (New) seeks to facilitate the use of cryptocurrency in everyday transactions, making it a part of daily transactions. It allows users to conduct cryptocurrency transactions through a Point-of-Sale (POS) device, purchase items using cryptocurrency through the Pundi X POS device, and pay peer-to-peer using mobile. The platform also enables users to purchase utilities and services, such as electricity, using cryptocurrency. Moreover, Pundi X (New) provides a platform for developers to publish applications targeting retailers, such as cryptocurrency transactions, wallets, financial or insurance services, membership or loyalty programs, delivery management, and more.

What is the history of Pundi X (New)?

Pundi X (New) was founded in 2017 by Zac Cheah and Pitt Huang. The pair met in an HTML5 Interest Group in 2012, and the idea that led to the creation of the startup was to make cryptocurrencies a part of everyone's daily lives. Zac Cheah, a skilled programmer with a background in computing and cybersecurity, currently serves as the CEO of Pundi X. Pitt Huang, who began coding at the age of 10 and has a history of entrepreneurship, serves as the chief technical officer and chief operating officer. The project launched its ICO in January 2018 and has since launched retail-focused services including XPOS, XWallet, and XPASS.