XOV has been working closely with our Academic Support Team including our Digital Currency Architect on the economic model for our currency stabilisation. This has also been discussed with the Imperial College in London. The model is expected to be ready within 4-6 weeks. The model will then be patented and converted into a technical specification for development. Research is an ongoing activity within XOV. We plan to develop an XOV Research and Development Academy in the future responsible for the ongoing development of XOVnet.
The development of XOVnet will start once our economic model has been completed. We will soon be appointing our Chief Technology Officer (CTO), blockchain architects and developers to start work on the technical specification. The banking and stable currency network will then be documented in a White Paper for publication and we hope to have developed an MVP by Q4 2018. The website will undergo some redevelopment work this month including the Management Team area for greater transparency.
XOV is currently looking for suitable exchange opportunities that will enhance the accessibility of the XOV token to our investors, and provide additional trading volume. We have a number of options and have been considered for listing on Coinex. Please join our bounty program to vote to get us listed.
XOV met with Wirex in July to explore a payment card for XOV banking customers in the future. These negotiations are still ongoing, and we are confident that our customers will be able to apply for a XOV payment card in the future.
XOV has also met with the Union Bank of Philippines (UBP) to discuss collaborative working. These discussions are extremely positive, and there are several possible scenarios including a retail bank presence in the Philippines, and a blockchain banking arm or XOVnet integration into UBP.
All banks offer loans to their customers and XOV is no exception. We are exploring a decentralised preferential loan service to XOV investors in the near future. This will be one of the many components of our retail banking arm in the future. More details to follow!