Plutus Bi-Monthly Report — Payment Integration & Audits (Jan 2/2)
Welcome back to our bi-monthly reporting, we hope you have enjoyed the start to the new year. Work is well underway to deliver on our next product upgrade which we will announce as soon as possible. For now, we hope you enjoy the latest edition of our company report.
Pinned Announcements
- You can buy BTC, ETH & PLU on our BETA PlutusDEX platform with 0% fees.
- Our BETA Plutus Tap & Pay mobile app is available on Android and iOS. It lets you sell crypto for fiat and withdraw to your bank account via SEPA transfers.
- We aim for a complete product overhaul including the card release to be completed in the coming months.
Development Update
Payment Provider Integration
We have been working on system integration, setting up connectivity with our payment solutions provider — this includes staging, documentation, regression testing and resolved KYC errors. The tech team ran a high-level audit and discovered 5 findings which we aim to completely address.
The development team are now planning our upcoming priorities with engineers for 2019, this includes some infrastructure and security audit workflow preparations — all this is to ensure your transactions are safe and secure.
Card Issuance
We have been working with a third-party card service provider to roll out cards, this includes working on API integrations. We have been through this procedure previously and the experience should ensure a faster and more efficient process.
We’ll let everyone know as soon as we have firmer updates on card release — this is our top priority for the near-term and we are very excited to reveal what the team have been working on.
Audit Preparation
Additionally, in order to make sure we are compliant with the Financial Conduct Authority (FCA), we’re auditing our features and user-facing UI to ensure we pass FCA’s Treating Customers Fairly (TCF) litmus test. We have always ensured we remain compliant in every way and we welcome the UK Treasury Committee’s pending regulation in the space; we are prepping and aligning ourselves ahead of time.
Marketing Update
The marketing team has revised all customer-facing content in order to guarantee the language used stays in line with regulatory recommendations, this has been done to ensure our intended partnerships go ahead as planned.
The team has also been consolidating the brand’s identity, Plutus is a high-quality brand and we want all related imagery, design and branding to reflect this.
Our upcoming Plutus cards will be delivered by a premium packaging company for a brand new user experience. It is at the forefront of our consideration that we bring you a pleasant user experience with minimum packaging wastage in mind.
The social media activities for Q1 and beyond have been prepared well in advance to ensure consistency across all platforms and to help prioritise larger scale marketing activities. Join us on Instagram and Twitter to see this in action.
Plutus 2.0
Our Plutus 2.0 announcement is currently on pause, the development team are continuing to work on the exciting upgrades as planned and this has no effect on the actual delivery, however, the marketing team cannot discuss our upgrades to the public at this moment in time for various reasons.
We hope you understand, we were very excited to reveal what we have been working on but unfortunately, we cannot share this with you just yet.
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Fact: If you don’t own your private keys, you are not in possession of your assets.
Centralised exchanges hold the private keys to the exchange wallets. If you hold your assets on a centralised exchange you are allowing a third party to be in possession of the assets inside it. If something happens to the exchange (hacks, closure etc.), you could lose your funds.
We have developed a non-custodial decentralised exchange which means you are in sole possession of your private keys and the contained assets at all times; this offers far better security.
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Social Reminder
As always, we would like to remind you of our various social media platforms. Our medium page is the best place to stay up-to-date with company announcements and we have some very important ones to be released. Please be sure to follow us here.
Our Telegram is the best place to get in touch with the team or community, find answers to FAQs, receive customer service help on our products, and hear about bounties or giveaways (there is a strong chance you could win €200 worth of PLU just for participating in our Telegram group). Make sure you join us here.
We also stay active across a range of other social media channels. If you want to stay as informed as possible on Plutus, you can follow us across these.
About Plutus
Plutus is a platform that aims to increase usage and adoption of cryptocurrencies by making them usable as an exchange of value as originally intended.
Users can seamlessly convert the amount of crypto necessary to make a purchase into regular fiat which can then be used for in-store payments. These payments can be achieved in two ways, using our mobile Tap & Pay app or via a Plutus Debit Card.
In order to facilitate the conversions between crypto and fiat, we have created our very own peer-to-peer decentralized exchange known as the PlutusDEX. The technology matches users looking to sell/spend their cryptocurrencies with traders looking to purchase cryptocurrencies. The model is completely non-custodial by nature which ensures users are immune from company hacks, downtime, corruption etc.
Users who spend using the platform will be rewarded up to 3% back in the form of Pluton (PLU), the company’s native utility token. We are creating the first decentralized loyalty rewards programme meaning you can convert these into regular fiat and spend them on anything, anytime and anywhere. Ordinarily, loyalty programmes limit the use of their rewards (e.g. Avios air miles can only be used for flights). The payment functionality and our Pluton loyalty programme will be implemented with our next product upgrade.
We already have live beta versions of our PlutusDEX and mobile Plutus Tap & Pay app available right now. You can trade BTC, ETH and PLU on our platform with zero fees attached. We are undergoing some major upgrades to the platform which we aim to implement in Q1 2019. You can try the current version here.
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