May 3rd -- New updates and quotes from the team
Fiat gateway legal requirements progress:
"So far I had a conversation with several lawyers from two parties. Scheduled a meeting with an accounting firm and the fiat gateway operator for next week. We will be discussing the rapports and data they need for handling the transactions that go through the gateway. Normally this is very trivial task, but now we're not only dealing with conventional banking... crypto tends to complicate things rather then making things easier...
Because of the huge amount of expected tx that will take place in both the coin and banking side we will be also discussing the option to hook in to their systems directly. This dramatically reduces manual labor and overhead costs on both sides."
Security & API:
"The security of the API's is nearly done and so is the basics for reporting to both the fiat gateway operator as a very basic version for parties (business owners) that will be using the gateway. Lots of improvements will be made here and it's also dependent on what the local authorities require. This will be further developed as soon as we receive feedback."
New BTXM version and initial production run:
"We also expect to view a new version of the BTXM in the next week and a half. With any luck that will be the final version and we place an order for the first batch. Software is still way out from being production ready. But we can at least play around and test with them as well as demo them."
That's all good news and the project looks amazingly promising. But would you please explain what the acronym BTXM exactly stands for? I mean the added "M".