Pundi X, a blockchain company aiming to simplify the use of cryptocurrencies, undertook several successful activities in November to reach its goals.
With 2018 ending in less than a month, blockchain startup Pundi X pulled out all the stops to finish the current year in a high note.
Last November, Pundi X undertook several effective steps to go one step closer to its goal of making the use of cryptocurrency “as easy as getting bottled water,” some of which are as follows:
We are dedicated to supporting high growth #blockchain start-ups and the #FunctionX ecosystem. @PundiXLabs announced QEX fund in partnership with Quantum Energy Asset Management in #ConsensusInvest2018 @coindesk Here’s more detail: https://t.co/ZUnFV9bYzk. #npxs #npxsxem
— Zac (@zibin) November 28, 2018
Pundi X revealed to the public the QEX fund aimed to generate returns for its investors, as well as to help the startup grow through investments and projects. This hybrid fund would be a collaboration between Pundi X and fund management company Quantum Energy Asset Management.
Zac Cheah, Pundi X CEO, said:
“Aside from plans to generate returns, the fund will also target strategic investments in start-ups that complement our business, particularly the new possibilities now open for decentralized communication and data storage on the Function X blockchain.”
The team aims to raise a US$100-million fund size and launch the QEX fund in January 2019.
Ride Sharing with Function X
Pundi X also demonstrated the capabilities of its Function X decentralized blockchain to run decentralized applications (Dapps) at Consensus:Invest 2018.
Using the blockchain-powered XPhone, Cheah hailed a cab from Manhattan to Central Park—both in New York, the United States—through a smart contract executed on the Function X-based Dapp.
“We all know that internet companies are deriving tremendous value from controlling data. But decentralizing apps can put this data onto smart contract and give control back to creators and to users.”
Earlier in October, Pundi X showed attendees of the XBlokchain Summit in Indonesia the first-ever blockchain phone call.
HQ Move to Blockchain-Friendly Singapore
Meanwhile, Pundi X relocated their corporate headquarters to Singapore, an Asian country that shows a willingness to embrace the blockchain technology and that aims to become a global blockchain hub.
Cheah explained further:
“We’ve been encouraged by the dynamism of the Singapore blockchain market. The country’s connectedness to the Asian region, talent pool and the early recognition of the economic potential of the blockchain industry have cemented our decision.”
Key members of the Pundi X team have relocated as well to the new main office, which would direct operations in the blockchain company’s offices in Jakarta, London, Seoul, Tokyo, and others.
Meanwhile, Pundi X still has around 25 days to surprise its supporters and the crypto community with more exciting projects and products.