Neo & Bee Update November 28th 2013WeExchange Issue ResolutionAs detailed in the following thread on Bitcointalk.org:
https://bitcointalk.org/index.php?topic=348468.0 Neo & Bee are now involved with the resolution of ongoing issues with WeExchange. Internally we are under a legal advice not to disclose the origin of these problems, of which we are desperate to change, the minute that we can explain the full extent of the issues and how it will be resolved, we shall do just that. Once the restrictions enforced upon us have been lifted, our plans will become extremely clear. Please note that any speculation with regards to our involvement is in fact nothing more than pure speculation. People who are invested, are more than aware that we are open, honest and will move the business forward at every given opportunity.
This is coming at minimal cost to Neo & Bee (man hours), we are merely making the solution sustainable and possible for those that are waiting for this to be fixed.
University of NicosiaMany people are aware that The University of Nicosia have announced that they shall be accepting payments across their entire business using Bitcoin. Neo & Bee are providing the infrastructure to enable them to do so. The local and international news have highlighted this story and what it means for Bitcoin and the potential it holds for Cyprus.
Wall Street Journal
Forbes
Wired
New York TimesThis news reached a global audience, including the upper echelons of the Cypriot Government, this was the first positive global news story following all the negative press for the country when the bail-ins occurred in March/April.
Neo EasyCoin (easyco.in)Neo EasyCoin is a web based business that allows the direct purchase of Bitcoin using cash through a payment network. This platform will offer Bitcoin at a competitive rate in the United States, United Kingdom, Russia, Norway, Sweden and Denmark.
Users will be able to credit their account once, enabling them to trial the website. Following the first purchase users will be required to verify their account through regular KYC & AML checks, of which are completed in a matter of minutes.
Customers of Neo EasyCoin will have access to our 24/7 call center and online support team.
This service will be online and fully operational before 31st December 2013.
Danny Brewster posed a question directly to the Cypriot Minister of Finance during an Economic Forumhttps://soundcloud.com/cryptocyprus/questionThe quality is not the best, so I have posted a transcript below.
Transcript
Danny:
“The question I have for myself is moving forward. I don't know if you've seen in the global news about the Univ. of Nicosia accepting bitcoin, which is a technological innovation. Is there any plan from a Cypriot point of view to try and embrace this new technology; to move everything forward; to create a whole new industry to bring capital into the country and move us on from this mess?”
Minister of Finance:
“I'm not able to comment on the details of this proposal though I have read the news and look forward to getting briefed on the prospects which are here significant, but I think it shows....er....highlights the road we should follow and it should be noted that it was a private institution, a private university, that led the way, and I think that's where I would establish the hopes that we should proceed on the private sector. The role of the government would be to facilitate, or even, simply, to get out of the way - to clear the way to open the road to get rid of the administrative difficulty and bureaucracy and to allow such innovative acts to unfold. And I hope by now we have established that we are a pro-business government, we have been in office for just a few months, but we are very determined to facilitate such initiatives. The best we can do is to clear the way - get out of the way - and allow the private sector - the universities, researchers, the research sector of the island to steer us ahead, yes.”
Danny:
“Ok, obviously the US just recently had senate hearings based on it, so they're having a regulatory oversight from the government, so there's no plans to take the same kind of approach...”
Minister of Finance:
“I expect that this would be negotiable, but as I said I don't want to claim that I'm fully briefed on the details, but I would expect that this would be a necessary negotiable development.”
Delivery of Bee cardshttp://imgur.com/F9b4th9http://imgur.com/6rfPAm0http://imgur.com/rzmpLukDemonstration of Bee at the Cyprus Investors Show 2014We now have the Bee network POS terminals and cards operational, we shall be physically demonstrating the time and cost benefits accepting Bee & Bitcoin can have on a business.
Insuring BitcoinWe are now making good progress with having the Bitcoin held by all subsidiaries insured against loss due to a cyber-attack. Once complete this will be a significant breakthrough for Bitcoin businesses.
Portfolio Management ServiceWe have been constantly approached by high net worth individuals, funds and businesses that wish to invest in crypto-currencies, We have started the application process to obtain the relevant authorizations to operate such a management service.
We have yet to decide on the name or branding for this operation, but it will be finalized in the coming weeks.
Our ConferencesWe have taken the decision to move our merchant-focused conferences to the middle of January, this allows many of the merchants to focus on the Christmas holidays. Tuur Demeester is also giving a presentation at each of our conferences.
Corporate VideoWe are releasing a corporate video within the next 48 hours, the final revisions are being made.
