Integration of PIVX and zPIV as the first cryptocurrencies into the Numo mobile wallet
Numo has put in a separate proposal seeking to become an alliance partner. This proposal builds on that, as the intent of Numo is to implement PIV and zPIV as the first cryptocurrency on their platform (alongside fiat).
The reason for this proposal: integration of PIVX into the Numo ecosystem - integration will provide the PIVX community with a bridge to transact with PIVX and zPIV between coin holders instantly, on an existing mobile wallet platform and without need of an external crypto exchange. Numo comes to the PIVX with an existing mobile wallet that will act as the User Interface, providing users with the ability to hold both fiat and crypto in the wallet. PIVX holders will be able to pay for purchases and get cash into and out of the platform at local merchants with the exchange between fiat and PIVX done within the mobile wallet.
The integration of PIV and zPIV into Numo’s mobile wallet platform will allow the PIVX community to make purchases at local merchants using cryptocurrencies, specifically PIV to start. At the time of activation/implementation, PIVX users will immediately have access to 6000 locations in Canada where they can load fiat onto the platform which they then can convert to PIV. By Spring 2019, this will expand to 18,000 locations in Europe and Australia, and our plan is to expand into the US market as well. The PIVX community will also be able to convert their PIV to fiat and withdraw those funds from local merchants using the Numo platform.
Numo’s mobile wallet ecosystem is live and operating in Canada currently with thousands of users and dozens of merchants conducting transactions. To date, approx 10,000 payment transactions have been completed - with less than 0.01% of transactions resulting in a customer service query. To date, we know of no transactions that failed to complete within our expected service level (2 seconds maximum transaction time).
Numo has signed a letter of intent with a national cannabis association to conduct a trial of the Numo platform in advance of cannabis legalization which occurs Oct 17, 2018. In our view the combination of PIVX (specifically the use of zPIV in anonymous transactions) and Numo as a point of sale system will be attractive to cannabis users and merchants – both groups seek to keep cannabis purchases and transaction histories private. The Canadian recreational cannabis market is expected to exceed $10B in sales annually.
Additionally, Numo has signed a letter of intent with the City of Barrie BIA to utilize the Numo wallet at the Barrie Christmas Market in November 2018. If the pilot is deemed successful, the BIA intends to utilize the Numo wallet for payments at a number of their events. Numo is also in negotiations with the City of Barrie to implement Numo across multiple business units. The City of Barrie is very pro-crypto, boasts a population of approx. 150K and is recognized as one of the fastest growing communities in North America.
Leveraging these and other marketing efforts will widen Numo’s use, widening the number of locations where PIV and zPIV holders can pay for goods and services.
Key Deliverables Or What will PIVX get from this Proposal?
The PIVX Community will have priority placement along with NumoRewards (Numo’s loyalty reward points) as the first cryptocurrencies available on the Numo mobile wallet (PIV and zPIV). Additionally, the intent is that users of NUMO who elect to perform “confidential” transactions would be using the PIVX network (zPIV).
Payments to PIVX DAO
Numo will compensate the PIVX DAO. This is to be further explored in conjunction with the PIVX DAO. However, the intent is to give back 50% of revenue arising from PIV and zPIV point-of-sale transactions for a period of five years. We anticipate this being a small amount initially, but we anticipate growth over the next 5 years will result in an impactful amount back into the PIVX ecosystem.
Possible options include equal split to a multi-sig wallet or address for various “departments” within PIVX including Development, Marketing, Support, Business Development.
Olaf Vogel, CEO – https://www.linkedin.com/in/olafvogel/
Olaf has 20+ years of experience in financial technology, with leading global companies in retail and institutional banking products. Global Director of Trading at OANDA FX Online Brokerage an early and very successful FinTech startup. My division earned $58 million p.a. SVP and co-founder of R.J.O’Brien FX servicing Canadian broker dealers Product Manager and early team member of Versus Technology, that was successfully sold to E-trade Financial for $174 million. Core member of the the Versus team that subsequently built out the Etrade global infrastructure. Today, he is co-founder and CEO for Numo.
Brad Taylor, COO - https://www.linkedin.com/in/bradtaylor/
Expertise in transaction banking, trading, FinTech product development. Strong software and app development experience. Successful startup experience and management skills. 20 years in Canadian, UK and US banking & capital markets Led $10B credit business at RBC VP, Technology - Merrill Lynch Successful startup and fundraising experience as co-founder
Jeff Applewhite - Business Development
Jeff oversees client relationships with primary accountability for evolving the business needs of existing clients, cultivating new sales opportunities and developing partnerships with local economic communities. He has held senior roles for leading voice and data communication providers as well as Fortune 100 financial service organizations. Jeff holds a BA in Communications from Ryerson University in Toronto.
USE OF FUNDS
Numo requires resources from the PIVX community for the current Numo Dev team to construct and test the implementation of our blockchain ledger (Hyperledger Fabric) and the integration of PIV and zPIV into the Numo ledger.
Numo and PIVX will continue to develop and cross-market the solutions for new markets, broadening adoption for both entities.
COMMUNICATION AND REPORTING OF FUND USE
Communication to the PIVX community will be made bi-weekly that will be posted in the Numo/PIVX thread on PIVX.org, PIVX Discord channels and will be referenced in Numo’s social media channels (@getnumo). Status reports and significant milestones of integration of PIVX and zPIV in Numo’s ledger, Numo platform modifications, etc. will be reported in the bi-weekly updates.
Numo is requesting an investment for the integration costs of 2000 PIV per month for four months, as well as the initial submission fee.
This equals 2012.50 PIV per month for 4 months, totaling 8050 PIV
The funding will be spent exclusively on this integration covering the costs of the Numo Dev team.
TO VOTE YES
mnbudgetvote many 430fb804bca1ab0d2a99d0eb8d469d9f96a36c34ac01bed8017904891f1180b0 yes
To Vote No
mnbudgetvote many 430fb804bca1ab0d2a99d0eb8d469d9f96a36c34ac01bed8017904891f1180b0 no
Link to detailed proposal document: https://docs.google.com/document/d/18lpWJg1OMXxlmUEc7k-TRw8W-ZcnihWpkDGgjhZetnM/edit?usp=sharing