Ivy Project Updates (November)

Updates from Ash, IvyPay update, AMA info and more…

Updates From Ivy President Ash Shilkin:

Hello to our community & token holders,

It’s been a busy first few weeks in the new role of President. We are making some positive progress in a number of areas.

During my initial AMA I spoke about exploring lower bank integration models from a technology perspective. I also spoke about the need to improve our business development efforts to attract more banks and financial institutions to partner with Ivy.

Ivy Network Lite

The Company is making progress with exploring a rescope of technology to deliver a lower integration model for banks, as a stepping stone towards the full Ivy Network. DxDigital came to Los Angeles last month to commence discussing a rescope. Since then we have been working together to identify a model which will still add more value to banks from a KYC / KYT point of view, get the token more in use than with IvyPay, but avoid the need to stake reserves within the financial institutions.

Subsequent to confirming the go-forward position, we plan to publish key delivery milestones as we work towards the development and roll-out of the lighter integration model.

The re-scoped technology plan is a key dependency to moving forward with business development in a meaningful way. Critically, if we are of the view that a lighter integration model will be an easier sell to banks and financial institutions, we need to be in a position to clearly articulate how it will work, including delivery timelines. Even the preparation of updated marketing materials is dependent on being able to clearly articulate how the lighter integration model works.

Testnet

I want to provide additional clarity around how we are defining the testnet. We currently have a functioning testnet environment for internal use and for our external technology partners to access and interact with. There are four environments within our testnet: 1. Developer, 2. Test, 3. Staging, 4. Demo.

We will refer to the above as our Internal Testnet. The next iteration of the testnet will be an environment to demonstrate our system to banks, financial institutions, and potential business partners. We will refer to this as our Public Facing Testnet. This Public Facing Testnet will be available in H1 2019. We will update our website and various other touchpoints to better define our testnets, and to update timing on when each will be available. We will also update this milestone in the next versioned update of our Whitepaper.

Business Development

We are actively recruiting a VP of Business Development. We are also speaking to some existing Ivy advisors about a more executive role in exploiting commercial opportunities, particularly partnerships with banks.

Both business development resourcing and confirmation of the technology rescope are planned to converge before the end of the year, so we are in a great position to hit the ground running with a better product offering, and improved sales capabilities first thing in the new year. You can see a full list of open roles at Ivy here: https://ivy.workable.com/

Regulatory White Paper

The regulatory white paper is still in development and scheduled for completion this quarter. The purpose of the regulatory white paper is to continue dialogue and engagement with the regulators, helping them to understand the value-add Ivy plays within the payments / regulatory landscape. Additionally the regulatory white paper is envisioned to be a powerful sales tools for banks and financial institutions, to clearly articulate the deficiencies of existing payment networks, and how Ivy fits into the landscape to add value.

We appreciate the community’s support for the Ivy Project, and we will continue to keep the market informed as we progress on this exciting journey.

Sincerely,

Ash Shilkin