Q2i @ end Q1 21
Commercial Progress with Q2i’s Technology; now Mobile with Payments enabled
Blockchain Interoperability for Enterprise
COVID19 Response - Fundraising
Summary
Q2i Product Releases, Financial Services Projects & Strategic Consulting Revenue
Q2i continues to wish everyone the best of good fortune and good health in 2021.
Strategic
Based upon the productisation and production of the technical platform, Q2i has embarked on its engagement with Enterprise-scale businesses where its core technology offering can extend early "Blue Chip" enterprise blockchain adoption and deliver critical SME functionality.
Projects
India - Supply Chain/Logistics entity JV structure is now implemented. As the Indian business completes its customer onboarding in more metro cities, initial tech integration has begun with data releases to verify technical interfaces and prioritise functional extensions. End Q221 is the target for initial technology integration and deployment.
UK - Payments integration has begun. This connects blockchain transactions directly to a payment gateway which also has an Open Banking component.. In parallel with Q2i platform payment enablement there is further definition of blockchain enablement of the payment suppliers backbone where it makes commercial sense to enhance security and automate processes.
Australia - Q2i has entered into a term sheet that forms the basis of a JV with an Australian group with over 20 software development companies. The first entity provides secure document exchange in financial services and can conduct its business under licenced Open Banking rules in Australia. Q2i is also supporting a wider financial initiative that builds funding options for the Australian group which enables it's incubated entities to access growth capital. It is expected that this will be activated in Q221.
Retail Supply chain project to China, Australasia, Europe and the UK has soft launch in Q221. Blockchain transaction management will be included in early releases.
Enterprise engagements include a global database supplier, Secure IP network supplier to the Financial Services Industry, UK Insurance Platform for a Global InsurTech supplier and a Global IP system provider.
Current COVID driven decision making has slowed direct project deployments at a Swiss bank, an Asset Management project.
Both Q2iD product and the Q2iDataRoom product have been incorporated in the Enterprise engagements. Q2iDataRoom is being used in its production form with 6 entities. A second customer has a completely configured implementation for its external Corporate Finance transactions.
Q2i is building on its JV partnership with FullyFuelled, its Strategic Web Integrator, with a UK academic publisher and connection to a UK Ai/ML driven text management and research tool.
Further commercial engagement, based on the same model, is being established in the GCC during course of mid-2021.
Technical Update - Applications & Interoperability - On Mobile Devices and Payment enabled
Payment Gateway Enablement and Smart Contracts for Automation
The Q2i platform has been exposed to Mobile devices. As Q2i has an extraordinarily light footprint Q2i can expose blockchain functionality and control features on mobile. It remains secure and permissioned.
Two further major technical advances are now in full swing: -
i) Payment enablement of the Q2i platform - Direct connectivity between the managed blockchain transactions and the payment gateway. This supports nearly 40 UK banks through it's Open Banking licence and a very broad range of other currencies internationally.
ii) Smart Contract Definition - Transaction data capture in the Indian Supply/Chain/Logistics project has entered the the design phase of the introduction of mapping that transaction information to the business logic in the workflow. This enables tightly defined smart contracts to be made available to the automation of the transaction flow in the business.
The base version of the blockchain agnostic infrastructure is complete; delivering multiparty transactions agnostically with blockchain interoperability. Demonstration environments can be shown running on either Hyperledger and/or Ethereum. The latest releases of R3/Corda have been tested to ascertain if improvements now meet the architectural requirements for interoperability.
The technology has been refined for use as an internal transaction data room [Secure data exchange, activity tracking and permissioned sharing]. Product release of Q2iDataRoom, Q1 2020. A fully configured production version is in use with two initial clients. 3 early adopters are on pre-production versions.
One of the major problems with blockchain is the operational risk and cost of storing large decentralised data sets on the technology. Uniquely Q2i has optimised this and we now have a functional solution for a distributed blockchain filesystem. This is now demonstrable with: -
Contract data definition, approval and execution in an asset management environment
Secure document exchange in an AML/KYC environment
As a standalone product configuring optimal data exchange
Commercial Update: 3 External Agreements
5 in Pipeline
As the COVID impact on decision making has caused significant project deployment slow down with some third parties. Q2i has accelerated its enterprise connection approach.
3 Enterprise Companies have been engaged in initial discussions. All of these entities have made initial strategic steps explicitly into blockchain adoption.
They are a global database supplier, Secure IP network supplier to the Financial Services Industry and a Global IP system provider.
Existing commercial target sectors continue:
Financial Services - No change
Agreement; subject to terms, with a Swiss Bank. Await internal sign-off. H121 indicated.
Await budget definition from a large European Bank. Technical access agreed.
Large Scale IoT owners, UK smart meters and grid voltage optimisation, are defining their requirements.
Clean energy production and power management [H121] indicated, funding structured.
Supply Chain - Retail distribution client (UK/NZ/Australia) with supply chain into major Chinese chemical entity. Soft launch in July 20. Orders placed with Blockchain for Payments along the supply chain in H121.
High-Value Assets/Exchanges - No change
Initial Requirements formed for Property and Project Finance Exchange. UK FCA clearance is imminent.
Art, Property and conveyancing/legal document exchange remain active.
Cyber, Asset Tracking & Medical data
[COVID19 response]
Secure data across utilising Q2i Blockchain for patient records, network security/cyber resilience and physical asset tracking in a UK leasing business are being formed.
COVID 19 Response - Q2i formally responded to HMG CrownCommercial This is in addition to the contact made with HMG [e-Gov] Department for International Trade, FCO and British Armed Forces. Q2iD product that delivers technology support to the Track/Test/Test and Lockdown Exit Strategy which now is called "COVID Status Verification" . Q2i delivers citizen privacy in its architecture from the simplest to the most complex of transactions.
This can be in the form of either/and/or a Vaccine Certificate [COVID status], National mobility status [adds UK Test & Trace] or COVID Passport [International Travel extended with IATA or airline information] based on the secure Q2iD product.
Test and Trace connection to pharmaceutical entities, outside UK health system, building up vaccine/antibody progresses slowly. Extensions have been added to ensure the base technology can incorporate Passport data so that border verification can be completed on the vaccine and health status of a traveller. This complements the citizen passport with a secure "Health Passport"
Fundraising
Initial investments have been used to develop the production releases and for commercial development with revenue exposure. Q2i is actively seeking funds to develop a larger scale production environment and deliver wider commercial solutions. An additional option is to JV with an intelligent investor to deliver the strategy at scale to fund an investment portfolio of collaborative blockchain technology companies.
Q2i has a focus on the objective of monetisable transactions across blockchains. This is incompatible with a single token or ICO path. Each JV could enable the digital asset development path.
Contact
Mark S
info@q2igroup.com
M: +44 734 288 4691
Lawrence vK-B
lawrence@q2igroup.com
M: +44 734 288 4691
Web - www.q2igroup.com
