Pundi X is a startup that focuses on the blockchain network and aims at making cryptocurrencies. It has closed its ICO pre-sale with a total amount of 613 BTC, 250,040 XEM, and 3,148 ETH, which is equal to US $4 million or 14,000 ETH. The money was contributed by 615 investors.
Pundi X focuses on solving the most difficult challenge for cryptocurrency sales and purchases. Its business is based on an existing model of cashless payments, named Pundi-Pundi. This cashless payments system allows users to scan QR codes, which can help them to make payments instantly in restaurants and retail outlets.
Pundi X ICO has placed a pre-cap of 14,000 ETH or 5% amongst which the total hard cap is 2,80,0000 ETH. Customers can exchange ETH with PXS at the value where 1 ETH equals 500 PXS. Lon Wong and David Lee are the well-known investors who participated in the ICO pre-sale. David Lee is a quantitative finance professor and invests in Qtum, Zcash, InfoCrop, etc. Lon Wong is the Chief Executive Officer of the Dragonfly Fintech firm and the president of NEM.io Foundation.
Money raised through PXS token sale in the ICO utilized to buy Pundi X POS tools that will enable consumers to easily purchase and sell cryptocurrency through fiat money. You can store the cryptocurrency you buy in digital wallets. You can use this cryptocurrency for making cashless payments, such as paying utility bills, e-recharge phones, and buying goods. These payments are as per the local rules of the cryptocurrency industry.
Pundi X also gives rewards cryptocurrency transaction tools that are smallest in the world to skilled ICO investors. From this day onwards till 20th December 2017, investors with an investment of 1.5BTC or 30 ETH or more will receive Pundi X point of sales (POS) device. These devices will be delivered within 1 month and 15 days after the ICO process has been finished.
ICO has a target to raise as much as 280,000 ETH that can help in funding 7,00,000 Point Of Sale (POS) devices that will be set up within 3 years in Japan, Hong Kong, Singapore, South Korea, Malaysia, Thailand, and Indonesia.
The price of one POS instrument is 300 dollars that means in order to fund initial 100,000 devices, 30 million dollars will be required. Rest of the 600,000 POS devices will be rolled out by revenue and tokens from B2B contributors of Pundi X. Pundi X aims at generating profit through services of POS devices, along with the sale of bitcoins. If you want to know more about bitcoins, then you can read the companys whitepaper.
Pundi X is a startup working in the blockchain arena. It aims at enabling a cashless payment environment in South East Asia as well as other nations. Pundi X allows cafes, shops, and convenience outlets to offer cryptocurrency to consumers. The Pundi X ICO provides funding for around 7,00,000 Point Of Sale devices that are to be set up in the upcoming 3 years across various target markets.