Several months have past since our last update and much has been happening in the background to progress to the next big stage in our development.
As many of you have probably heard, GDT has been granted the telecommunication license here in Vanuatu that has been needed to implement many of our services that require a larger set up here.
In our last report we mentioned that GDT was providing the software and security to a number of new e-currencies, well this has now been completed, and the first payment service and e-currency is ready to be released. Federal Gold will be the first payment service to be released and this will be followed by a series of other payment services that will form a complete interconnecting industry.
GDT has been monitoring the e-currencies at arms length for several years and also learning the hard way with loses in virtually all of the closed payment services including losses in the current running e-currencies due to their lack of internal security (which, is currently under investigation).
We have held back on joining the e-currency industry for a number of years while waiting to develop the best possible system so that the industry can go forward. Presently the main e-currencies are skating on thin ice with the way they operate which confirms what we realized some five years ago that if the industry was to survive it would need to operate the way authorities expect and use a business model which establishes itself as a world standard and that can merge with an existing banking industry.
There is an important role for the e-currency industry to play in providing an operating platform to the Internet world that the banking world can and will only dream about.
We have set a business plan in play that we are not able to easily change and need to continue the development to release the range of services that make up the major keys of the economy.
These services include services such as DXConnect (a social networking service) that has a wide scope to become involved with groups and individuals. DXConnect will enable people to upload topics of interest for others to view on a public showcase and create discussion groups that have a “forum” and/or “chat” type of format.
The DXConnect Messenger is currently being tested and is proving to be quite a versatile service with ‘one to one’ message communications. We are however requiring more users to get online and assist in testing the service to provide good feedback analysis for load testing and benchmarking. The core operating functions behind DXConnect are similar to that which will drive other DXSynergy services including DXAuctions and a wide array of others.
The ‘
dXposed’ advertising service is now fully operating in the DXDaily, DXSystem and DXConnect and our marketing team our now focusing on directly working with advertising agents and businesses to use our services. Already DXBusinesses can create a campaign and watch in real-time the views of their advertisements.
The roll-out steps are becoming much quicker now that we have the co-operation of the government departments and the telecommunication license with our
DXGlobal Payment Console (DXGPC) now being able to be cleared for full operation including the ClaimXchange where businesses will be able to claim the bonus percentages from their customer payments which will go a long way to covering the cost of using credit cards or various payment methods. We anticipate the availability of the ClaimXchange on the DXGPC in the next 2 to 3 days.
We have included a
new diagram to the overall flow of how all the payment services and the DXServices will integrate with the DXSystem utilizing the DXMerchants in much of the process. With the DXSystem being a ‘user to user’ based service up to now this will begin to merge into a fully backed service with the Federal Gold Reserve holding all values across the full network of e-currencies and payment services.
DXAuction and the full upgrade of
DXShopping will soon be clear to release after the new payment services are introduced. It has been important that the full payment options be available to both businesses and customers with escrow for a secure product for payment service.