Agree with this statement... well... it feels like this anyway!
@Dumptradesman
What we've been told per ASX Announcement 27th October 17:
"
...Modelled after the best cryptocurrency exchanges in the world, Byte Power Pty Ltd’s exchange is designed to be user friendly, mobile friendly and will be equipped with advanced security functions. The exchange allows users to conveniently formulate their preferred investment or trading strategies suitable not only to expert traders. The exchange will provide a safer and smarter method to trade Cryptocurrencies for non-technical users.
As well as progressing the software development and testing of the platform, Byte Power Pty Ltd is formalizing partnerships to enable the pairing of pre-approved cryptocurrencies with an Australian dollar facility. This will provide a seamless trading process to convert traded cryptocurrencies such as Bitcoin, Ethereum and Soar Coins to Australian dollars through the Exchange. Discussions with relevant partner institutions are progressing and Byte Power Pty Ltd is targeting the completion of initial pairing arrangements in the first quarter of 2018."
But that was when SoarLabs was on the scene.
I've read this (the bits I've put in bold) as "Mobile Friendly" = App? (Hopefully).
Read into this as you will, but speculation what it would be like at this stage.
What we know since the signing of the services agreement with Noetic Synergy , per ASX announcement 10th January 18:
"... Under the Agreement, Noetic will deliver all BPPL’s functional and technical specifications for its
Cryptocurrency Exchange. The services provided will consist of:
• Cryptocurrency Exchange set up services;
• Software implementation services;
• Operational management services; and
• IT outsourcing services
Noetic will host and maintain the software and hardware infrastructure, including administration and system maintenance to ensure performance and security standards are met. The proposals received from Soar Labs and Noetic provide the same outcome in delivering and operating the Cryptocurrency Exchange Solution as envisaged by the company. The projected cost for the development of the Cryptocurrency Exchange by Noetic is commercially more favourable and not expected to have a material negative impact on the Company's immediate cash reserves, as the payments are broken down into stages such as: set up, the first year, subsequent year, and on an ongoing annual basis. The payments have been negotiated to be made over a period of time, in a mixture of digital and ordinary currencies, and only at the completion of milestones. Noetic expects BPPL will be able to launch its Cryptocurrency Exchange by April 2018.
Mr Alvin Phua, Chairman and CEO of BPG and Director of BPPL said: “With the emergence of new compliance requirements in the cryptocurrency field and the volatile market landscape, the Board has decided to work with a larger organisation with the depth and breadth of experience for enterprise solutions. We are pleased to partner with Noetic with the skills and infrastructure to develop and provide a turnkey solution.”
Noetic’s CEO, Mr Ian Jones said: “There are increasing challenges for cryptoexchanges with increasing compliance requirements and security risks. As an enterprise web solution provider for the past 8 years for multinational companies including financial institutions, we are equipped to handle these challenges.”
Sounds great huh?
Personally - I don't believe writing a wish list of great functionality and features adds much. I have reason to believe BPG are watching these forums (see the thread on Noetic Synergy agreement), however IMO a laundry list of cool stuff should come after just getting the
Minimum Viable Product launched ASAP, so we can start getting some cash flow, progressive enhancements thereafter.
IMO a name or Brand of the Exchange will definitely add a lot of buzz and drive up the SP, but BPG don't seem to be giving anything away.
Cheers
MSN
