Q2i @ end Q3 21
Commercial Progress with Q2i’s Technology
Asian Supply Chain Finance Partnership Agreed
Enhanced Cloud Security + Integrated Payments
Blockchain + PaaS for Open Banking
Q2iPay - Fiat Cash AND Digital Assets
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 continues with its engagement with Enterprise-scale businesses where its core technology offering can extend early "Blue Chip" enterprise blockchain adoption and deliver critical SME functionality.
Last quarter's major functional extensions to the platform: -
1) Full connection between a blockchain transaction and both a cash payment AND a digital asset - multi-currency, OpenBanking plus wallets for digital assets. [Q2iPay - PaaS on Chain]
2) Seamless integration with the Q2iID and Q2iDataRoom. Thus monetising blockchain data transactions whilst ensuring KYC/AML structures are inherited.
3) Optimised run-time efficiencies within the transaction architecture that ensure scalable blockchain transaction handling, superior secure encrypted data exchange and robust management oversight of the blockchain interoperability framework across multiple cloud networks.
These have been running as "infrastructure as code" on the base system platform to ensure continued integrity and robustness.
Projects
Singapore/India - Supply Chain Finance - Q2i and its partner OneInfinity have completed the commercial arrangements and initial technical planning. The platform includes the absorption of user data, storage and manipulation of that data, its treatment by the Credit Analytics engine, and connection to the banking and card services that deliver the finance products. Product Development has been supported by a major Singaporean Bank.
UK - Blockchain to Payments Integration [Q2iPay] with a UK Payment Processor + Open Banking supplier is complete. This connects blockchain transactions directly to a payment gateway which also has an Open Banking function. Bank payments in combination with the smart contract workflow have been embedded with a major Insurance platform that connects brokers and carriers. This is currently under review by the insurance platform owners, prior to exposure to its major Insurer clients.
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 its incubated entities to access growth capital. The fund entity was launched in Q221.
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. Q221 saw the platform release to the Indian development team. Data integration is expected in Q4 after client onboarding is completed..
Retail Supply Chain project to China, Australasia, Europe and the UK has continued off-chain transactions 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 based partner in regulated International Trade and Finance Infrastructure and a Global IP system provider.
Current COVID driven decision making has slowed direct project deployments across the board. In particular, at a Swiss bank, an Asset Management project centred on ID & AML/KYC.
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.
Q2iPay initial implementation project has been established. Large scale secure payments that utilise the blockchain to connect two systems and monetise the transaction flow that is currently invisible to the organisation. Flexibility to deploy Q2iPay with multiple payment gateways in line with the Q2i engineering approach.
Q2i's JV partnership with FullyFuelled, its Strategic Web Integrator, has delivered a UK academic publisher connection to a UK Ai/ML driven text management and research tool. Early academic sector focus targets online roll-out before the start of the academic year 21/22.
Further commercial engagement, based on the same model, is being established in the GCC during course of mid-2021, in particular in the area of Government and regulated financial services.
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 it can expose blockchain functionality and control features on mobile. It remains secure and permissioned.
Two further major technical advances are now complete: -
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 broad range of other currencies internationally.
ii) Smart Contract Definition - Transaction data capture in the Indian Supply/Chain/Logistics project has entered the deployment phase; mapping transaction information to the business logic in the work flow. 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. Newer blockchain types like Solana, Radix and Cardano all show promise.
One of the major issues with blockchain networks is the operational risk and cost of storing large decentralised data sets on the technology. Uniquely Q2i has optimised the solution to combat this operational risk whilst also utilising a cloud agnostic architecture that mirrors the blockchain chain agnostic framework for a distributed/decentralised data transport. This is now demonstrable with: -
Contract data definition, approval and execution
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. H221 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 [H221] 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 continue to be placed off chain. Blockchained Payments along the supply chain in H221.
High-Value Assets/Exchanges - No change
Initial Requirements formed for Property and Project Finance Exchange. UK FCA clearance remains active.
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
