X8 PROJECT’S MONTHLY UPDATE

Since the TGE the X8 team has had two priorities: finishing the launching of the X8X utility token (including distributing tokens to those who are eligible and exchange listing) and the development of X8C. There is progress on both fronts and we are optimistic about the goals set for 2018. We also need to stress that in tasks where we are not dependent exclusively on ourselves we have encountered some delays – an inconvenient but passing matter.

The KYC/AML process. The strict guidelines of FINMA regarding origins of holdings placed in a bank like UBS required our legal team to insist that the AML forms have to be complete and blank sections are unacceptable. Since a large number of our contributors omitted certain sections of the forms, this led in several cases to some time-consuming back and forth sending of emails. Even at the time of writing there is still a handful of contributors who have not yet submitted their properly filled out forms to us. We are aware of the inconvenience and again thank all our supporters for their patience, but this is what it takes to work with the top-ranking institutions of the financial world.

Upgrade of the server infrastructure. New servers are being installed right now at one of our three IT locations and we are still waiting for more to arrive. This upgrade will allow X8C to have a global reach and operate at the scalability we have envisioned.

Exchanges. As we have stated many times, it is too risky to speak about listing before the official confirmation is issued by exchanges themselves. All we can reveal is that we are in talks with more than one exchange and intend to initiate the process with several others. After EtherDelta the X8X token is now available on the IDEX exchange.

The X8 team attended an invitation only event on 7th February called Blockchain Alliance in Ljubljana, Slovenia where blockchain companies presented themselves to government officials curious to learn more about this technology and its implications. The Prime Minister of Slovenia was also in attendance. The debate focused on regulation and the blockchain technology was viewed as both risky and full of potential. Needless to say the X8 project is rather advanced when it comes to legal compliance.

The X8 project will be presented at the Blockchain in Finance event in Rome in the middle of March this year. Our CEO, Gregor Kozelj will give a speech about the X8 project. This is an event with an ideal audience for the project, since traditional finance will interact with the blockchain innovators and the X8 project’s aim is to provide a bridge between these two worlds.

Corporate account. We are happy to say that while our b2b account at Bitstamp is in the process of opening, we already have a working account at Bitcoin Suisse. This is an important step toward the diversification of the fiat/crypto windows of the X8 project.

X8Currency – the ultimate crypto safe haven.

 

David

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