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Event held at the Chamber of Commerce of Bogotá It counted with the participation of Representatives of NEM and PundiX The director of NEM for Latin America and the representative of the company spoke about the mission / vision of both entities and the deployment they have had in the region.

Event held at the Chamber of Commerce of Bogotá It counted with the participation of Representatives of NEM and PundiX The director of NEM for Latin America and the representative of the company spoke about the mission / vision of both entities and the deployment they have had in the region.
Last weekend, the Bogota Chamber of Commerce held the cycle of conferences called "The future of Blockchain in Latin America" . Event that brought together experts and local participants of the Blockchain ecosystem as well as special guests from Russia and Brazil.
In addition to the participation of the representatives of U.Community , the NEM director for Latin America, Pedro Gutiérrez, took advantage of the space to share with the attendees some data about the Blockchain network that operates the foundation based in Singapore, which has been considered as one of the most solid and promising block networks at present.

Blockchain technology from NEM

Gutiérrez, began his speech by talking a little about the NEM technology, indicating that it is not only a Blockchain that operates a cryptocurrency, but also integrates a series of improvements that accredit it as a network of third generation blocks, far exceeding the properties offered by the Ethereum ecosystem at the level of development and services.
The director of NEM said that the company's public Blockchain is capable of processing more than 4,000 transactions per second, a figure that increases exponentially for its private network. Among the services that NEM offers to programmers and developers are an encrypted communication system for the transmission of important information; an apostille service to protect the property and authenticity of a product; a mosaic system for the creation of new tokens and digital assets; a service for the creation of domains, Wallets multifirma and voting service, which can be developed with programming languages ​​known as Java, Python, among others.
Gutiérrez stressed that the NEM Foundation has taken important steps in its expansion plan in the continent, but at the level of Colombia it mentioned as important alliances the recently established with the City Hall of Cali and with the Municipality of Córdoba. He also made reference to the progress that has been made in the development of his protocol, which has been strongly supported by Venezuelan programmers who have devoted great efforts to the evolution of their service offerings.
To illustrate to the attendees the applicability that NEM technology has had, Gutiérrez presented some very successful actual use cases:
  • GreenOx: Hydroponics system in containers that makes use of NEM's Blockchain to distribute profits equitably based on commercialized production.
  • Tutellus: Economic support system for university students, which evaluates the student's performance throughout the career through a scoring system managed by professors.
  • CopyrightBank: Service for the protection of copyrights by issuing digital certificates stored in a Blockchain network.
  • PundiX: Points of sale developed with NEM technology for the reception of payments in cryptocurrencies and marketing of said balances.
Finally, Gutiérrez spoke to the attendees about the recently released updates with the Catapult protocol, which allows the automation of payment processes and a minimization in the execution periods of smart contracts, as well as the immediate compensation of the parties without have to wait for confirmation of the blocks. In addition, these improvements also incorporate the possibility of recovering funds through a validation system through third parties, while implementing a layer architecture improving network performance.

PundiX and the points of sale for crypto payments

The last conference of the event was in charge of Joao Victor Mendes, representative of PundiX for the Latin American region, who presented again the attendees the point of sale developed by the company, better known as XPOS.
Mendes developed in more detail some points that he commented previously during the MeetUp held in the city of Bogotá earlier this month , as he commented a bit about the mission / vision that inspired the creation of the product which is based on the idea of ​​making easier for all people to access cryptocurrencies as simply as shopping in a warehouse or market. He also indicated that only 1% of the world's population makes use of digital currencies and that these assets have proven to be very useful for residents of countries heavily hit by economic and political debacles, as it was in the USA and now It occurs in Venezuela and Argentina.
After sharing this data, Mendes showed the attendees the XPOS device and demonstrated its operation by using the XPASS card. The point of sale operates with several cryptocurrencies (Bitcoin, Ethereum, XEM, Litecoin, Binance ... among others) and supports different payment methods, such as the use of debit / credit cards with chip and transfers via QR code scanning. The Hardware generates a physical proof of the operation and is protected against hardware modifications as well as practices that may be considered illicit.
Mendes indicated that the product uses NEM layer technology to speed up payments, so when receiving transfers with Bitcoin or Ethereum it is not necessary to wait so long for verification of transactions. At the same time, he indicated that they will soon launch updates and operate on their own Blockchain network, so that interested creators can develop solutions that involve the use of the XPOS device.
As a final point the representative of PundiX indicated that the company has just launched its network in Hong Kong and will soon do so in Japan and South Korea, with the goal of expanding next year this possibility for the Colombian territory.
Before culminating Mendes officially announced that they had closed a commercial agreement with Manticora Capital, company that would carry out the official distribution of the equipment in Colombian territory. The new business partners indicated that they see great potential in this product, since the technology with which this has been developed can be applied to implement even a system of points supported by the legal currency in the country.
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