In May we reached an important milestone: we entered the final stages of licensing and product development.
We met with the National Bank of Belgium early May for an in-person session to review the license application. We spent time diving into the fine technical aspects of the platform and company governance and fraud prevention. Most of our time was spent diligently closing the open items identified at the meeting. On the back of this discussion we renamed the legal entity providing token custody and exchange service. It is now called Digital Ledger OÜ and this is the only effective change. Ownership structure, activity, licensing status and all other properties of the entity have remained as is. PSD2 regulation is new and has never been applied, so each and every detail has to be questioned and discussed by our very own team, external lawyers and even NBB itself, as there is no practice to build judgement on.
OSOM with digital token functionality is getting ready to be released
Wallet, payments and exchange aggregation is undergoing heavy testing with a closed group of users.We are finishing with Alpha release and are preparing for the Beta. We are days away from inviting our waiting list to use the app. Parallel to Beta release, we are developing OSOM exchange functionality and native iOS and Android apps. As soon as it is complete and tested, we will release the app to App and Play Stores, available for everyone.
But right now the app is undergoing detailed UI revision and fine tuning and the website is being completely revamped applying user centric thinking. When open for public, OSOM must be pixel perfect and its marketing channels relevant. The website has to explain the OSOM working model, be instantly clear and easy to read, and at the same time engaging and inviting visitors to spend more time on site exploring.
To inform future developments, we conducted a user survey that will help us create highly relevant product features and service bundles. We have also made initial progress for an exciting robo advisor functionality for token asset portfolio management, but more about this in upcoming updates.
Security and changes of infrastructure
On the frontier of security, big changes are coming to the Polybius wallet. We are extremely busy migrating our tokenholders from Polybius.io wallet (operated by a third party since the times of ICO in 2017), to a better, state of the art and secure, very own OSOM wallet. If you happen to be one of our tokenholders, we urge you to migrate as soon as possible, otherwise you risk to lose access to your PLBT. Simply follow these steps:
- Login to your Polybius wallet
- If you haven’t logged in for the past 6 months, a process of wallet upgrade will initiate and will take 24 hours to complete.
- For account recovery or issues ask on the intercom support button in the bottom right corner of the login page or contact us at [email protected]
- After you receive a confirmation of your Polybius account migration, we invite you to move your token to the OSOM wallet by Polybius https://app.osom.finance/register-insider or any other wallet supporting ERC20.
We are happy to keep serving all of our tokenholders on our own infrastructure, with our own customer support and all the cool features we are adding. We will grant every OSOM user joining us with 10 or more PLBT with a six month premium account for free!
Events in May
We successfully completed our spring season of events. However, May was different from previous months: we showcased OSOM to an advanced, tokenomics and tech savvy crowd of Consensus 2019 in New York and Latitude59 in Tallinn. We invited our booth visitors to try our app, explained our points of relevance to the audience and collected valuable feedback. Key takeaways:
- Our branding stands out from the noise and speaks well to the consumer
- Our UI is easy to understand and fall in love with
- We are happy to realize, that nobody out there is building a product of such ease of use as we do
And as always, lots of interesting connections and observations
— Kenn McAfee ₿rosak (@KennETHbosak) May 15, 2019
Takeaways #Consensus day 2 : gathered from a couple sessions and walking about the exhibition floor
— Mathieu Hardy (@hardymathieu) May 15, 2019
#consensus2019 takeaway by our analyst Etienne: Asset tokenization on the #blockchain has opened a world of opportunities beyond currencies: easy trading of IT, equity, real estate, commodities. Yet the banking sector is falling behind, due to regulations, culture& legacy systems pic.twitter.com/rXR6WN7cMJ
— Polybius (@PolybiusEU) May 22, 2019
OSOM team life
In May we formalized a set of internal values, that keeps our whole team on the same page. The values are built around trust, engagement, ownership, and growth.
If you find yourself sharing the same values as we do, keep track of our job openings at join.osom.team, as well as drop us a spontaneous application – some of the nicest discoveries of people very often are led by being confident to introduce yourself!
This concludes our newsletter for May. Get the next one directly to you inbox – subscribe to Polybius newsletter here.