Updated MD&A:
The Company has prioritized the expansion of this aspect of its call center business, achieving an impressive growth rate of 47% between 2022 and 2023. Although a single customer contributes a significant portion of its revenue and maintains a longstanding relationship spanning over 20 years, the Company serves numerous clients and operates various programs under this customer. Moreover, the ongoing initiative to enhance the customer service platform by introducing extra features and automated reporting capabilities is intended to streamline the reporting process for both the Company's customer care operations and its clients. This continual endeavor is aimed at enhancing the Company's revenue and profit potential.
During 2022 and 2023, the Company concentrated on various initiatives, including a significant focus on revamping its platform using cutting-edge POS Cryptocurrency software technology, particularly leveraging Android POS terminals. Simultaneously, the Company is actively seeking reputable exchanges and service providers to support its exchange transactions. Engagements with both local and global service providers are underway, with hopes of finalizing a solid agreement in the near future. Additionally, the Company wants to confirm that it still holds five bitcoins as an asset as of the current date. The objective is to roll out this platform specifically within Canada at this stage.
The Company maintains confidence in its proprietary platform, which is distinctive and caters to a wide range of users interested in conducting Crypto transactions with small amounts of money, as well as facilitating bill payments.
Management has contemplated merging the functionalities of the e-wallet and POS cryptocurrency platforms into a unified platform due to their shared similarities. This strategic direction has bolstered the confidence of the IT development team in the newly developed platform. Additionally, the Company plans to maintain a separate version of the POS Cryptocurrency platform for deployment within Canada. Recently, the Company has successfully renewed its registered license as a Canadian Money Service Business (MSB) with FINTRAC.
In recent years, our company has developed an extensive closed-loop prepaid card solution specifically tailored for our Libyan partner, Raseed. This solution serves Raseed's clients in Libya as well as regional banks. It allows banks and other clients to load funds onto their cards for use within the closed network of point-of-sale terminals. However, there has been a decline in demand for this solution due to waning interest and the continued availability of physical currency, which was the initial motivation for developing this platform. Consequently, we are committed to enhancing the solution and exploring its implementation in other countries where there may be a demand. Additionally, we are in discussions with our partner to identify further collaborative opportunities.
