The reality of cryptocurrencies on the retail market
One of the main sceptic outposts will be crushed soon — cryptocurrencies to become the means of payment on a global scale. Consumers in retail stores worldwide will be able to make purchases in WAN (the coin of the Wanchain project) using the XPOS by Pundi X.
We are in the epicenter of the tornado of changes
Recently, in his interview to Bitnewstoday.com, Sebastiano Serrano, CEO of the Rivio project answered a tough question which sounded like “Why people around the world are not eager to pay with crypto?” The expert was quite confident as he told that the changes are inevitable. Well, that’s true. The collaboration of Wanchain and Pundi X can prove that cryptocurrencies possess all the features of money. The next milestone is to demonstrate their ability to be the means of payment.
Wanchain develops a blockchain solution which allows digital assets to flow between previously separate blockchains. Wanchain is remarkable for privacy protection and cross-chain smart contracts. This project got the attention of Pundi X team as the most promising to implement in XPOS. The infrastructure of the project simplifies the creation of distributed financial applications for individuals and organizations to access financial services such as loans, asset exchange, and similar asset management capabilities.
What would be the results of XPOS + WAN collaboration?
Within the project framework, the WAN coin will join ten developed cryptocurrencies, which are Bitcoin, Ethereum, Litecoin, NEM, Qtum, and Stellar. Pundi X’s blockchain-based point of sale device called XPOS will enable consumers and retailers to make transactions in cryptocurrencies. The XPOS project is currently in pilot testing. The global retail market awaits: the test run is planned for four international markets which are Korea, Japan, Switzerland, and Singapore.
Constantin Papadimitriou, Pundi X co-founder, and President estimated the collaboration as a positive and perspective step with great potential: “We are very pleased to extend transactions in WAN on the XPOS to our customers because it promises to be a long-term and indispensable feature of the blockchain ecosystem.”
Jack Lu, Wanchain founder, and CEO didn’t step aside and claimed that “bringing together two leading blockchain projects with the shared broader aim of promoting the adoption of digital assets and currencies by making them more usable. Pundi X’s mission is to bring digital assets to the majority of consumers and enabling them for use in stores will be an essential part of the process of making them more fluid and fungible.”
The test markets weren’t a random choice. The blockchain enthusiasts from South Korea and Japan were the pioneers of the idea of cryptocurrency retail payments. The cryptocurrency exchanges planned to become the intermediaries in this process.