I am writing my first update of the new year from our Manly office of Lakeba Group, after a brief Christmas vacation to Boston, Phuket, Coimbatore & Bali visiting family, friends and taking time to reflect on the purpose and priorities for Quixxi Connect for 2019.

This letter is intended to communicate to our audience where we are heading this year, refinement of our purpose, what aspects will be covered in the platform and how we are going to implement those aspects and the types of technological, legal and other risks we have to be cautious of while steering forward and growing the use of QXE tokens.

The last two months were crucial in gathering, socialising different information from different experts inside Lakeba, engaging with various industry experts we met in different meetups via Future Hub to arrive where we are today with clarity and vision for the new year. It is important to mention that this crucial data, insights, and market research we’ve gathered has been critical for helping to inform and determine our purpose & strategic priorities for Year 2019.

Marcelo Schmidt provided information on available competing solutions in similar segments and their processes, as well as providing data on user acquisition, user engagement, and revenue making strategies. Chris Cheung and Chris Perry shared their visions of “How QC can have a positive impact to our society with various use-cases (for eg., debit card integration, buying gift cards, sharing economy), revenue projections and product workflow details”. Giuseppe Porcelli, our leading visionary and my mentor, shared his vision on “How QC wallet, marketplace can be more impactful as API to developers in their web apps and mobile apps” as well as questions on clarity of execution.

Darren helped in growth strategies that included supporting STOs, Digital assets and API support in Wallet & Marketplace modules. Alberto, Marco, Andrew, Darshan, Vinu, Balaji, Jay, Antonella & Neil asked all the right questions in their respective areas of strength to fill any gaps in our planning. Pete asked the fundamental question of “What activities are we planning in 2019, that ensure QXE tokens are used in the platform!”. There were several other contributions of information from Ollie, Alfonso, Gus, Tim Osborne and various Lakeba family members, notable token buyers who contributed to this collective intelligence for QC. We are fortunate to be surrounded by and working with such a dedicated team who all contribute to the well-being and growth of the QC business.

In addition to these, I’ve also gleaned valuable guidance from other leaders in the field including author of “The Strategist” Cynthia Montgomery, “The Decision Book – Fifty models for strategic thinking”, “NLP secrets” by Carolyn Boyes, & “HBR – On Strategy”. All these inputs are helping me to refine the purpose & priorities and communicate this to you with vision and ease.

I want to take this moment to thank all those who are part of this journey and convey my feelings of gratitude to all who helped directly and indirectly on this journey.

Blockchain technology has so many benefits to the general public and businesses in different industries and for achieving better governance in the world.

Few of these crypto benefits include the ability to store immutable, hack-safe, secure records in decentralized nodes that can handle verification of documents related to payslips, land-registry, vehicle-registry, user-identity, service-history of vehicles, devices, citizen/government services-tracking, supply-chain tracking, validation of genuine products from fake products, operational efficiency across businesses/industry leading to efficiency/removal of intermediaries or centralized network solutions.

Businesses that don’t adapt to this new disruptive technology will soon become obsolete in their industry as new players emerge in their segment with better offerings.

Crypto-currencies is a good initial example of a benefit that is starting to have an impact in the global fintech industry, where the stronghold held by banks and their associated services is gradually diminishing!

As this technology is nascent, there are new challenges faced by its early adopters and believers as new use-cases emerge using this technology (for eg. fractional digital and physical asset ownership and transfers, faster global remittance, crypto-asset representation of products, services using ERC-20, ERC-721 tokens by businesses and individuals, micro-loans, loyalty points).

To have the massive adoption by the general public at the scale of the internet, it is important to address these evolving challenges with the wider audience.

Some of these notable challenges include:

The complexity of User experience

Remembering of complex hex wallet addresses by Users, recovery passwords, storing of mnemonics

Errors in Fund transfer

Accidental fund transfers to invalid recipients, wallet addresses are non-recoverable in the current phase of crypto-technology.

Crypto Theft & Loss

Hack attacks on Crypto-currency networks and theft of crypto-currencies in exchanges have dominated the news in the past few years that identify another challenge of these crypto-currencies. Additionally, wallets and their passwords can be stolen or lost by end-users.

Tax avoidance, Money-laundering & Ransoms

Tax avoidance, Money-laundering & Ransoms are new challenges of this technology that governments have a vested interest in regulating this evolving technology. When most transactions will migrate to blockchain in the next decade, it will become increasingly important to handle transaction & accounting traceability well to ensure stable real-world economies and functional governments.

Ease of Asset transfer

A holder of crypto assets currently doesn’t have a safety mechanism to nominate their digital assets to be transferable to their closed family members and connections, in case of accidental risks and other surprises.

Transaction fee

Crypto-money transfers from one user to another user requires a transaction fee at present however these fees are not applicable in real-world transactions

Price Volatility

Crypto-currencies by themselves aren’t supported by stable economy fiat currencies like USD, GBP and dramatic price fluctuations in the past few years make adoption by non-tech savvy users harder. It is important to introduce reliable crypto versions of the stable currencies for each of the economies or a global crypto version of a stable currency indexed or backed with a different set of assets.

At QC, we collectively believe in facilitating crypto-technology benefits to & by non-tech savvy users to empower individuals & businesses by providing a truly global and easy to use payments platform, leading to a value-sharing economy and sharing experience to users with global accounting and transparency benefits.

• At the heart of QC, is a third-generation software based hot wallet in a mobile app (Decentralized storage & retrieval of Private key and MFA for fund recovery) linked with a User’s ID, email or mobile number. This wallet stores Ethers, any ERC-20 tokens, and any ERC-721 digital assets.
• External Web apps and mobile apps integrate QC API to receive crypto payments from QC users. For eg. websites providing physical products, services or online products, services can request for crypto payment from the User. This request will be routed from the seller app to QC API server from which the same is received in the wallet app as push notification by the Buyer. Upon confirmation by the Buyer, a transaction is made from the wallet for the corresponding amount to the seller in the Crypto-currency/blockchain network.
• KYC of the users is performed based on the amount of crypto-assets held by the User and volume of the transactions made to comply with the tax regulations, accounting transparency of Users geography.
• Users will be able to gift or trade crypto-tokens as crypto-notes to one another without incurring a transaction fee via QC. Businesses will be able to generate gift vouchers in QC platform of a different denomination and sell them in their retail shops. Users buying these vouchers can redeem it in QC platform and use it to consume different services on/off the platform.
• Users have the option to send crypto-money to a non-existent User of the QC platform or invite users to the platform by gifting or sending them crypto-money. Users can be paid by selecting their email id or mobile number in the platform, as well as by searching them in the platform.
• QC Marketplace to support “Crypto-traders/Exchanges”, “Gift-cards”, “Luxury goods” as the initial seller services that can be consumed using crypto-money. These sellers undergo an approval process and additional services to this marketplace will be added based on the appetite/needs foreseen from our Users feedback.
• Each User profile to have an option to add product items or services they can showcase as part of their profile to a limited audience or keep it private with an access-code. In addition, each user profile also has an option to accept payments for their time (for eg. Ranging from 30 minutes to few hours, and up to few days)/professional services using crypto-money with little configuration. We visualize this to be a huge boost for people who value their time to provide their time to those who are in real need of their advice.
• A visa prepaid card to be provided as a Premium service to Wallet users to use their crypto-asset in any part of the world.

• Premium wallet services to include nomination service (Nominating close family members or business members to take over the User wallet, in case of unexpected risks to the current holder of the wallet) and additional fund recovery options like visiting our location physically, in case the user loses their wallet.

Following are a few areas we believe will drive considerable change:

• Insuring the Users wallet, providing loans and micro-loans for assets held, providing crypto-interest on the assets held are just a few of the exciting services under evaluation
• Users expenditure related insights and associated dashboards
• Multi-sig wallet for businesses to create roles for approving a transaction
• Fractional digital and physical asset ownership
• Enabling creators of digital audio/music, video, art, photo, books, files, asset groups to maximize monetization of consumption
• Facilitate ease of managing digital subscriptions
• Creation of personalized digital assets, tokens for loyalty points, professional product, services offered by businesses
• Instantaneous Optimized Remittance market & Partnership with Banks to create stable tokens of local currencies

• Integration of additional services like “Paying bills, Booking taxis” to Marketplace are also under evaluation and market research.

We will update more on these in our next letter as these initiatives progress further.

Core platform development (Wallet apps, Apis, Marketplace, Profile, Apis, Prepaid Visa card support) using development and research teams is planned & progressing for Q1 & Q2.

• Security auditing is a must for the architecture and implementation of Private Key storage, retrieval, management modules.
• KYC of Wallet users and MFA on retrieving wallets, nominees related phishing and forgery are to be audited for security using internal and external stakeholders,

QXE is a utility token used inside the platform. All services and subscriptions available on the QC platform are consumable using QXE tokens. Services are provided at a discount price for using QXE tokens compared to paying using fiat currency. QXE tokens are rewarded periodically to the community members for participation in development, marketing and other activities.

We intend to launch a Premium wallet with a subscription fee of $9.9 USD/year per account and the same is purchasable using QXE tokens. Marketplace profile advertisements and Seller Profile customisation services, Creation of Deals on Marketplace are also similarly purchasable using QXE tokens.

I welcome your thoughts and feedback and I’m reachable at [email protected] for any suggestions, comments & collaboration.

Aatral Arasu, CEO

Quixxi Connect