Satoshi Nakamoto’s seminal Bitcoin white paper proposed a revolutionary new digital
currency. But it was based on its predecessor Hash Cash and the proof-of-work
the concept was originally proposed by Dwork and Nair in 1992 1 as a means of
combatting junk email. More than just a white paper, “Satoshi” released the open source reference
implementation in 2009. Because Bitcoin itself was more than just a white paper, but
an actual working system. It Coin X Network was able to capture the imagination of developers and
leverage the paradigm of open-source software development to quickly iterate and
improve into a global-class financial infrastructure. More importantly, Bitcoin is an open system that allows for evolution through forking
and as such provides an assurance of its long term trustworthiness. If stakeholders
ever get upset with the direction of Bitcoin, they can and already have produced forks
that users and miners can migrate to if they see fit.
The Problems of Bitcoin Coin x Network:
The biggest problem with Bitcoin at the moment is that it has not broken out into
mainstream adoption. One study pegs the number of active cryptocurrency users to
between 2.9 and 5.8 million2
.
This paper proposes a solution for adding a billion users to the cryptocurrency
movement by adding two key elements missing in order to provide significant
adoption by mainstream users.
The next billion users have not yet entered cryptocurrency for two main reasons
Today, the only thing you can buy with a cryptocurrency are other cryptocurrencies.
The vast majority of people have no involvement with this process and no interest.
Until the average user can use cryptocurrency to buy a bag of rice or a loaf of
bread, the relevancy of cryptocurrency will be restricted to a small audience
This paper presents Pundit X, a platform for consumer zing cryptocurrencies by
enabling their use in retail Point of Sale (POS) through a mobile app and contactless
payment card.
Following in the footsteps of Bitcoin, Pundit X has the same properties of Real
Implementation, Open Governance and Incentivization that allows for the rapid global
expansion of the solution.
Real Implementation of Coin X Network:
Pundit X is a complete end-to-end solution for contactless and mobile retail point-of sale (POS) including a full-stack reference implementation of all the components. It
includes a mobile application, a contactless smart card and point-of-sale (POS)
terminals that are already in deployment. All of these components will be made widely
available through open source and open specifications. By releasing the full-stack reference implementations as open source and open
specifications, we can enable ubiquitous distribution worldwide of the Pundit X
protocols and ensure the rapid expansion of the value of the Pundit X Network. The Pundit X network incentivizes participation through providing free hardware to
retail stores in the initial target geography of Indonesia. Users are incentivized to
participate in the Coin X network through accessibility and ease of use and the
convenience of mobile payment. The Coin X network incentivizes participation through providing free hardware to
retail stores in the initial target geography of Indonesia. Users are incentivized to
participate in the Pundit X network through accessibility and ease of use and the
convenience of mobile payment.
Coin x network With a solution that decreases complexity and adds relevance of cryptocurrencies to
end users, we will see rapid mainstream adoption of cryptocurrencies and the
merging of the crypto-economy (current estimated value in October 2017 of 170B)
with the much larger mainstream economy (estimated value 214T).
The Next Billion Crypto Users Coin X:
Pundit X will help to generate demand for new and old, as well as big and small
cryptocurrencies. No other online cryptocurrency exchange can bring in new
cryptocurrency users from this segment and in the same number, thanks to our
powerful focus on attracting the consumer market. Coin x network Pundit X is concentrating initial traction efforts on South East Asia. Half of all
South East Asians live in Indonesia. We have local team with a deep understanding
of the Indonesian market – plus we have track record, connections and products to
match the local market’s needs.
We will spend the next two years building an extensive coverage of convenience
stores, shopping malls, retail shops, chain outlets, Coin x network restaurants and other outlets.
We will use Pundit apps to coverage an even greater number of smaller sellers. Our
goal is for users to be able to buy and spend cryptocurrency within a five minutes
walk of any location in Jakarta.
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