Fundamental Analysis

Project: Pundi X

Ticker: NPXS

Category: Payments

Headquarters: Indonesia

Website: https://pundix.com/

Description

Pundi X is a platform for payments that uses the Ethereum Blockchain. On the platform, a complete system is offered for retailers, including the following parts processed; sales information, stock management, order management, marketing and transactions. Pundi X will encourage retailers to use their POS devices. This can be done with the Pundi X card or with the mobile wallet. In short, Pundi X connects a physical store with the online blockchain.

An advantage of Pundi X is that they already have a working app. which is used in Indonesia. Pundi X wants to install 100,000 devices in 3 years time. The first focus is on Indonesia and then South-East Asia. They also want to roll out in other markets through partnerships. Each Pundi X POS device is connected to the Ethereum and NEM blockchain through the Pundi X Platform API; XPlugins. In addition, the Pundi X POS device can be connected to various exchanges. The token is crucial in the Pundi X ecosystem. With every transaction you pay a transaction fee in their token and, in addition, the coin is needed to be able to connect to their network.

What we like about Pundi X is that they are really a product-oriented company, again they proved this through the launch of the Xphone, and it seems to work too. Anyone with an Xphone can create their own node in the blockchain network that uses the function X protocol. The big advantage of the Xphone is that you can call, text and send data without the use of a telephone number, everything is via blockchain. All your calls and messages are then recorded on a blockchain, although you can also choose to turn off the blockchain function. What is important is that Pundi X once again shows what they are capable of taking steps towards the large-scale use of blockchain technology. Also, keep an eye on their FunctionX protocol!

Target

Pundi X aims to make crypto payments accessible to billions of crypto users everywhere and at all times. Ultimately, they want to have the largest decentralized offline CRM network worldwide. What stands out in this is ‘Offline’, which the team wants to achieve by installing point-of-sale devices in physical stores. In addition to the offline cash dispensers with which you can pay in stores, it should also be possible to buy and sell crypto. In addition, NPXS also has a mobile app that allows peer to peer payments.

Pundi X is very active in setting up their business in developing countries. Both in Asia and South America, they are talking to local parties to implement their POS systems. If one succeeds in persuading these developing countries to use crypto then this could well be the future …

Team

On the website, only a part of the employees is appointed. Nevertheless, there are more in the White paper and 55 employees can be found on the LinkedIn business page. For the analysis, we mainly look at the higher functions and therefore the management of the company. What is most striking here is that management has little experience in the crypto world. On the other hand, the founders are real entrepreneurs and have already made several companies successful. They also both have the necessary technical skills to develop payment systems. Furthermore, they also have an experienced president and the entire management seems to have a sufficient network to grow (these can become possible partners).

In short, there is sufficient experience in both entrepreneurship and digital payments, the only thing that seems to lack is experience in the crypto space. Although the latter seems to be more than compensated because other employees have gained experience with other projects.

Token

The Pundi X token NPXS is currently ranked 42th on coinmarketcap. With a market cap of nearly 196 million, NPXS competitors like TenX and Metal are behind them. The circulating stock is currently 125 billion, with a total of 280 billion. The supply is relatively large compared to other tokens, this has to do with the function of the token in the network. NPXS is a utility token and is used to pay the fees for transactions. What is striking is that NPXS is available on many exchanges and because of that trading volume is also relatively high.

Community & Communication

On Reddit Pundi X has a small community, and little is published, a missed opportunity. With 52,000 followers on Twitter, they are doing a bit better, but it is important that the growth in followers continues after the completion of ICO. On average, a post from Pundi X gets 500 likes on Twitter, compared to other projects this is relatively high. On Telegram the group consists of approximately 28,000 people. All in all, Pundi X has only used the necessary channels and they also keep it mainly business-like. Previously, the community seemed to be badly involved but this has developed positively. It is still difficult to say whether there are many retailers in the community who want to make use of the POS devices.

Besides the channels used, it is good to see what messages are shared and with what regularity. Pundi X is doing this and knows how to hit the community with good updates and pictures of the events they are attending. Furthermore, they often show the POS device, which is exactly what a community needs.

Roadmap

In the roadmap, Pundi X mainly explains how they will conquer the world with their products. It is nice to see that the roadmap mainly focuses on establishing offices in new cities and producing/selling numbers. Most coins are still in the development phase, while NPXS clearly shows what they want to do and that the product is really ready. This makes the goals easier to achieve by the team after all the doubts were about the technical knowledge of crypto. Up to now, most of the targets have been met by the team, really good entrepreneurship is shown. The mentioned targets can be called ambitious but certainly not unfeasible for a company with real entrepreneurs (something that is sometimes lacking in an average crypto company). So far we can say that not all the planned locations have already been opened, mainly the US is a difficult region because of legislation problems. Nevertheless, Pundi X has now opened offices in Indonesia, Singapore, Hong Kong, Korea, Switzerland, England and Brazil.

In Q1 2019 Pundi X wants to spread the number of 50,000 XPOS units around the world. If this goal is achieved, the future of the company will look even brighter.

Final judgment

All in all, Pundi X appears to have developed positively in the past six months. Since the ICO, interesting partnerships have been entered into and the team has always delivered what was promised. The experience of the team in the crypto space is still something that brings with it question marks but this seems unjustified. The entrepreneurial spirit among founders and management seems more than sufficient to use the right knowledge when necessary.

Meanwhile, more and more retailers worldwide are offering the possibilities of Pundi X in their stores. One of the most essential points that we have observed at Pundi X is that progress remains observable and activity is present. Q1 2019 will be an important quarter to see if they are going to get their ultimate start-up target.

We will continue to closely monitor Pundi X and add it to our portfolio.