This has been a very trying year for everyone. Luckily, since we are a fully distributed team, while COVID-19 has been highly disruptive to all of our team members and their families, it has made little impact on our daily and weekly work routines. We are grateful to have been able to continue our work with very positive results in this challenging time.
The web app which is the centrepiece of our platform is now built and we are testing it internally. The trading engine which we have incorporated into it had been tested by our CTO in quite a few years of professional trading so its robustness and high-grade features are a given. As for the functionality of its client-facing interface, we are confident that it will become a high UI benchmark for the industry on release. It is smooth, clear, intuitive and, dare we say it, beautiful in its own way. (Mobile versions are coming; for the moment the interface has been optimised for desktop screens.)
To make the trading environment work smoothly and to have it interface flawlessly with data storage, asset custody, payment clearing and other building blocks has required the engagement of a team of highly specialised software engineers. These guys have built banking and exchange systems for major international corporations in their London base, and have lived up to their reputations in terms of creating our platform, also. It’s the back-end wiring which clients do not see that makes an exchange function as intended and we are happy to say that it has been laid down by some of the best people in the business.
Creating a fully compliant industrial-strength exchange platform is a function of both technology and the law, so in addition to building our web application we have been working with our lawyers and advisors on the extensive drafting of agreements, letters of intent, terms & conditions, and the many other documents and processes.
For example, the KYC (Know Your Customer) module has taken several months of design and development and resulted in a product which can handle just about any identity check in most of the world’s jurisdictions, for both individuals and legal entities. KYC and anti-money laundering procedures are fundamental to the operation of any compliant business which is going to handle other people’s money, and for very good reasons. We are proud to say that as a result of this intensive effort our paperwork and due diligence processes are in many ways superior to accepted industry standards.
On the sales front, we have been preparing the groundwork for a dynamic take-off as soon as we are ready to launch. We are in constant discussions with a number of miners and investors in Australia and elsewhere, and will be letting you know as soon as the first clients have signed – both on the sell side, and the buy side.
All this has had to be done to get us prepared for the start. It is going to be a very solid start and we look forward to sharing exciting news with you as it develops over the coming weeks and months.