Category: Recently Added Whitepapers

WHY PUREGOLD

Gold is the only Real Money
Gold has always been regarded as the most precious metal and has been highly sought after as a coveted asset since early human civilization. Coins containing gold appeared around 800 B.C., and the first pure gold coins were struck during the reign of King Croesus of Lydia about 300 years later. Throughout the centuries, people have continued to hold gold as a traditional currency and as an asset. Despite tremendous advancement in industrialization, finance and commerce, this tradition still remains strong and relevant today.

As early as the Byzantine Empire, gold was used to support fiat currencies, or the various currencies considered legal tender in their nation of origin. Gold was also used as the world reserve currency up through most of the 20th century. One of the key reasons for its use is that it limited the amount of money nations were allowed to print.

However, the United States used the gold standard only until 1971 when President Nixon discontinued it. Until the gold standard was abandoned, countries couldn’t simply print their fiat currencies ad nauseum unless they possessed an equal amount of gold. Although the gold standard is no longer used in the developed world, many economists have expressed strong views that we should return to it due to the volatility of the U.S. dollar and other currencies.

Investors typically buy large quantities of gold when their country is experiencing high levels of inflation. The demand for gold increases during inflationary times due to its inherent value and limited supply. As it cannot be diluted, gold is able to retain value much better than other forms of currency.

For example, in April 2011, investors feared declining values of fiat currency and the price of gold was driven to a staggering $1,500 an ounce. This indicates there was little confidence in the currencies on the world market and that expectations of future economic stability were grim.

Gold has a profound impact on the value of world currencies. Even though the gold standard has been abandoned, gold as a commodity can act as a substitute for fiat currencies and be used as an effective hedge against inflation. There is no doubt that gold will continue to play an integral role in the foreign exchange markets.

Puregold

Pundi 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.

Most of the Blockchain today is far from ideal, with an over-emphasis on technology and the under-emphasis on creating real use cases. Pundi X’s philosophy is not only to build a technologically superior chain, but also one that has real-life application. A good Blockchain should have a user experience and performance that are way more superior than the current product in market.

And that’s what we have achieved with our Blockchain called f(x). Currently, f(x) is already up and running on internal test environment. And we will continue to provide regular updates on the progress of f(x). We will walk the talk with f(x). It will be a game changer with real use cases to support it.

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Retailers and service providers are struggling with inefficient and costly payment mechanisms, which have not kept pace with the evolution of global commerce. Nothing – credit cards, alternative payments, virtual coins, or blockchain technology – has yet adapted to today’s various processing needs in order to provide an optimized solution for payment processing. PumaPay’s PullPayment protocol (the “Protocol”) under development, is intended to solve this problem by utilizing a new architecture of smart contract called “PullContract,” which enables new billing methodologies over the blockchain. We wish for the Protocol to promote more frequent use of cryptocurrency in online and offline markets, thereby significantly increasing the total volume of payments transacted with cryptocurrencies, as well as contributing to the global trend of payment decentralization.

The Protocol is intended to be a comprehensive solution which offers robust payment mechanisms far more credible, efficient, flexible, cost-effective, and scalable than current implementations. Unlike today’s payment methods, which include credit cards and virtual coins like Bitcoin, the Protocol is being designed from the ground up with the intention to overcome some of the existing payment problems. In addition, we believe the Protocol will have the potential to increase economic efficiency, reduce friction, and minimize risks by removing intermediaries such as credit card companies that also charge excessive fees.

The Protocol is designed as a free, open-source project built around a customizable chain of contracts that govern transaction behavior. It can be set as a simple single transaction, a complex transaction that includes, among others, recurring payments, pay-per-use payments, split payments, restricted payments, exchange rate corrections, or a combination of the above. Businesses will be able to use the Protocol’s payment mechanism as is or modify and/or create new ones to fit their needs. We believe the solutions offered by the PumaPay Protocol will create business opportunities for external third-party companies that can build additional services on top of the Protocol and contribute to the PumaPay ecosystem. Such services may include, but are not limited to credit facilities, transactions, insurance, dispute arbitration and escrow services, code verification services and others.

It is our intention that the PumaPay Protocol be promoted through partnerships with businesses that have significant turnovers, by encouraging them to adopt the PumaPay ecosystem from the onset. Through our Launch Partner, we hope the protocol will plug into industries with tens of thousands of daily customers spanning numerous markets.

Pumapay

The Internet: a vast framework of interconnected applications, networked systems and
mobile devices essential to our daily lives. It’s the primary means by which we
communicate, learn, create, shop, work, share, play and manage our finances. We cannot
imagine a world without it. Yet the very foundation of this technology, invented over a
quarter century ago, is in jeopardy. It suffers from vulnerabilities in scale, security and
privacy, and increasingly is prone to fraud. Together these threats will disrupt the
technology we have become so reliant upon. Businesses built on centralised computing
struggle to keep pace with ever-increasing scale of use, which drives up costs and further
limits accessibility to the developing world, where only the elite can profit from the
advantages of connectivity.

Challenges in privacy, confidentiality, data security and integrity, and centralised systems
have plagued the internet today. Traditional private, internet-related organisations have
attempted to resolve these challenges only selectively, as their profit motive is not aligned
with that of the consumer interests. The tech giants want their users to “trust” them
implicitly without actually addressing the underlying obstacles.

“Blockchain” Technology, the underlying innovation that powers Bitcoin and NEM,
promised more robust decentralised and distributed networks, thus eliminating costly
intermediaries and creating a human-powered, interconnected network, but it was not
without its flaws. Early versions of blockchain proved too complex, insecure, costly, and
unscalable to bridge the gap between theoretical and real-world utility.

ProximaX (pronounced Proxima X), a blockchain-based decentralised platform using the
NEM Blockchain and Catapult platform, intends to solve these challenges in an eco-friendly
distributed ledger technology, using P2P internet protocols and ease of integration API
driven architecture allowing DApp developers and businesses to more readily deploy and
manage their solutions.

ProximaX extends traditional Blockchain protocols by integrating a number of off-chain,
peer-to-peer service components (layers) that are found in traditional SaaS and IaaS based
centralised architectures, like content delivery networks (CDN) and cloud offerings. The
primary services being that of storage and streaming media – all managed and governed by
a robust set of consensus protocols to ensure integrity of the network along with
measuring, validating, and incentivizing the decentralised workforce to prosper and grow
scale.

By parallelizing all of these services and protocols in manageable, but distinct layers,
ProximaX solves for the cost-effective conundrum in Blockchain ledger transactions, whilst
maintaining flexibility, ease of adoption and integration, security, and speed. All packaged
within an all-in-one extensible framework.

To maintain its integrity and value, ProximaX steps up the game from traditional blockchain
and introduces concurrent advanced and complex consensus algorithms with a
combination of 1) Proof-of-Importance (PoI), perfected by NEM; 2) Proof-of-Storage
(PoSt), for measuring allocation of distributed disk space, and; 3) Proof-of-Bandwidth
(PoB), a costly and more precious commodity in delivery of data and streaming media – in a
side chain. Bandwidth measurement is rarely factored into mainstream blockchain projects
as a reward metric to the node workforce. ProximaX is changing that.
ProximaX further powers its utility token economy with a native token (using the NEM
mosaic), XPX, that allows for a sustainable marketplace for its services – only possible with
a best of breed blockchain engine found in NEM.

ProximaX is a revolution on top of the existing evolution of Blockchain and DLT with the
creation of a utility-rich platform and protocol in which businesses, enterprises and
entrepreneurial innovators can avoid costly, failure-prone centralised architectures yet
enjoy sustainable and secure service offerings. Content Delivery and Storage, Streaming
Media, decentralised marketplaces, big-data, measurement/analytics, IoT, and flawless
record keeping and Know Your Customer (“KYC”) are just a few use cases for ProximaX.

ProximaX Website
ProximaX Whitepaper

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