Stamp-it 2nd 2019 quarterly report

[Jimmy Perron]

Please find attached a summary of our activities for Q1 2019.

 

[Niels Klomp]

Hi @Jimmy Perron

Thx for the update and unfortunate to hear about your exchange problem.

Could you give a bit more details about:

It is now clear that the funds we sent to QuadrigaCX will never be recovered. With this in mind, in addition to the fact that our partner does not intend to invest much in Operenzy for the foreseeable future, we decided not to invest more in this project in order to focus our funds and energy on our partnership with NSim Technology.

Whilst in the previous report you mentioned:

Please keep in mind that this is still in beta and that we will produce a comprehensive paper about what we intended to add and develop, once we are able to proceed with this specific investment.

That sentence indicates the project was well underway or am I missing something here?

 

[Jimmy Perron]

Hi @Niels Klomp

To answer your questions:

Early December 2018, we reached an agreement with one of our partner, the owner of Operenzy. With that in mind, we liquidated a decent portion of our Factoid stack we had been accumulating since being onboarded and sent the funds to QuadrigaCX, a Canadian Bitcoin exchange that has been around for quite some time. As you probably heard, QuadrigaCX have been experiencing massive problems and actually we lost all the funds Until now, there is no indications that we will recover a part of the money.

We don't have the fund to invest in the Operenzy platform for now and the Owner of Operenzy is not interested to add money to secure the patent and continuing the development. Actually the plan in to find investors in the fintech...

 

[Niels Klomp]

Thx for the clarification, but my question was more about mentioning the betastate of the integration in your previous update, which as a software developer I know is obviously not a production situation, but typically not for off. So my question is more was that categorization of or is there anything possible to help realize it?

 

[Jimmy Perron]

Thx for the clarification, but my question was more about mentioning the betastate of the integration in your previous update, which as a software developer I know is obviously not a production situation, but typically not for off. So my question is more was that categorization of or is there anything possible to help realize it?

For sure, the platform is actually in beta mode using a classic approach (centralized DB with MySQL). If someone is interested to help integrating the actual architecture with the Factom API, something can probably be done.

 

[Niels Klomp]

Ah ok so the beta mention in your previous update was about the Operenzy project itself not about your work to integrate Factom. Thx.

Is the owner not interested in the project itself or in adding Factom specifically?

 

[Jimmy Perron]

Ah ok so the beta mention in your previous update was about the Operenzy project itself not about your work to integrate Factom. Thx.

Is the owner not interested in the project itself or in adding Factom specifically?

The Owner is interested by the project AND also interested integrating it in Factom but the company have some liquidity problems.