We were very proud to have announced IXT Protect just over a couple of months ago. We saw great success and now have more than 350 registered members.
We are now happy to be moving forward and to release the second version of IXT Protect where you can become a member of IXT Protect by paying with fiat. We believe this will open up the opportunity to grow our membership beyond the crypto community.
What’s new in this version
In this version IXT Protect can be bought with fiat payment at a cost of $59 per year, per person.
Rewards & Gift Shop
We have introduced a different reward structure for members purchasing with fiat. For those that join IXT Protect will get rewarded 200 IXT that they can redeem for $20 worth of Amazon vouchers. You invite your family and friends and get rewarded 100 IXT. The IXT credits that you accumulate are easily redeemable from the new Gift Shop for Amazon vouchers. This new IXT reward will be internally managed in the platform.
We had to segregate the new IXT reward from the broader IXT since it’s directly redeemable for products we have to pay for. It wouldn’t be financially possible to allow the redemption of any IXT for reward vouchers just yet, until the market supports us selling IXT.
Making invitations is easy, send your unique link found in your account page to your friends and family. Once they successfully pay for IXT Protect and activate their account, then IXT is credited to your account.
There is no limit to how many invitations you can send so, feel free to start inviting now.
We managed to build a smarter sign up process for those purchasing with fiat – it will only take a minute or so to register for an IXT Protect account, no need for proof of address or identification documents.
Fiat payments are now available thanks to the integration of Stripe (one of the world leading payment platforms) in our processes. Data security is of utmost importance and Stripe is certified to the highest industry standards and has obtained regulatory licenses around the world.
We have based the new version on React and Node as before, but now host the server on AWS Lambda and Serverless, following a micro-service architecture approach. This allows us to move quickly, and extend our functionality easily.
Those who wish to join the ecosystem by staking their chosen IXT amount can still do so here. As part of the new release, the staking account has moved to https://staking.ixt.global/account. In the future, the two accounts will be merged.
SIM use case
We have spent almost a year working side by side with Dominic Higham – CEO of selfinsurancemarket.com and this has lead to great opportunities. Considering the number of companies that are already members and the ability to develop this speedily, we will focus on implementing the original idea of a B2B marketplace in SIM.
Initially we will develop the professional network where individuals and businesses will generate user traction and an active ecosystem. The marketplace functionality will then be introduced allowing the trading of products between users. This is an opportunity that is viable and realistic and possible to deliver in a shorter timeline. This kind of platform can provide for opportunities of additional platforms and technologies.
IXT will be adopted in the SIM network structure however further investigations will be carried out.
Digital Insurance Platform
Thanks to relevant connections made in the B2B space, we are now in the early exploration stage of a new business opportunity. This could lead to the foundation of a Digital Insurance Platform aiming to accelerate the old insurance processes used by majors insurance companies via tech solutions such as AI and potentially blockchain.
As we keep looking for new business opportunities, we are now in the early stage of exploring parametric insurance – focused on a specific space of the insurance industry where a hurricane may cause a loss or a series of losses.
Some changes and restructuring have been required recently due to the prolonged bear market conditions. We are focusing on projects that can be delivered fast and avoid prolonged development timelines that always come with partnering with large insurance companies. Due to these circumstances our Chairman, Sally Coryn is no longer with the company.
IXT Ltd in Gibraltar remains unchanged and it continues to operate as normal. IXT Ltd is headed by Mikael Olofsson who is also working on introducing IXT across to PayRue. Ingemar Svensson is still involved closely with IXT and continues to focus on the development efforts.
To avoid overheads and administration, we have decided to wind down iXledger in the UK. This company was created for certain B2B opportunities and a different scale, but as they have not materialised yet, we have come to the conclusion that the best way forward is to close it down. Instead all development will be based out of IXT Ltd in Gibraltar.
Our FCA regulated entity, IX Risk Solutions is headed by Dominic Higham who’s the sole director. As any FCA regulated company, only approved people are able to be a director. IX Risk Solutions will continue to operate and focus on consumer based products in the UK market initially. Ingemar Svensson is naturally also closely involved with development of this.
The theme is to adjust to the new reality, and to streamline and simplify so that we can focus on things that can create real success, and most importantly, survive for the longer term.
We are cautiously optimistic about the future and our aim is to survive this challenging market so we are still part of it once it picks up again.