Function X Foundation appoints David Ben Kay as President

SINGAPORE, May 29, 2019 /PRNewswire/ -- Function X Foundation has announced that David Ben Kay, an industry veteran in the blockchain industry, will be its President.

Kay is a familiar face to the Function X team as he currently serves as the Chief Legal Counsel of Pundi X, a position he has held for over a year. His expertise in international intellectual property and investment law has been critical in the company's rapid expansion. With his advice and guidance, Pundi X has shipped XPOS devices across 25 countries and amassed over 200,000 registered users for the XWallet app.

Initiated by Pundi X, Function X is built to be the next-generation internet service framework which consists of a combination of: a new blockchain algorithm, a complete set of decentralized network components, a decentralized communication architecture and a decentralized governance protocol. The aim is to create an environment that is secure, fully decentralized and free of monopolization to allow small and medium developers and businesses to thrive.

"At Pundi X, we've done a lot with the blockchain to uplift the mass market through our payment solutions," said Kay. "I'm excited to work with Function X to further our mission of developing and empowering individuals with a decentralized internet."

As Function X's President, Kay will be leading the foundation's efforts to create an ecosystem wholly powered by blockchain technology. Pundi X Co-Founder and CEO Zac Cheah said that he will build a solid team to lead Function X in preparation for its launch later this year.

"We're excited to continue working with David in Function X," added Cheah. "With his expertise from helping grow one of the most successful blockchain companies in the world and his passion for using blockchain technology to create a positive impact in the world, we're confident that he will play a big role in growing Function X's decentralized ecosystem."

Prior to joining the Pundi X team, Kay advised over fifty companies in dealing with legal issues, including serving as Chief Legal Counsel for Microsoft China and being a managing partner of international law firm Dentons' China operations.

He is best known as a former advisor and member of the governing board of the Ethereum Foundation, the non-profit behind one of the most successful cryptocurrencies.

About Function X Foundation

Function X Foundation is a nonprofit, independent organization that supports the growth of the Function X Ecosystem, a next-generation internet service framework, built entirely on and for the blockchain. It is a completely new ecosystem providing a novel service framework by improving the existing internet and blockchain architectures, combining the benefits of both and using the most commonly used technical solutions. The foundation is in the process of being set up to manage the usage of the Ecosystem Genesis Fund, which aims to motivate, encourage and facilitate service providers to join and get rooted into the f(x) ecosystem. For more information about Function X, visit https://www.functionx.io.

About Pundi X

Pundi X is a leading developer of blockchain-powered devices, including the world's first point-of-sale solution, the XPOS, which enables merchants and consumers to do transactions on the blockchain in physical stores. Pundi X is also the developer of the first, fully-functional blockchain phone, the XPhone.

The XPOS has been shipped to over 25 countries including Argentina, Australia, Colombia, Korea, Switzerland, Taiwan and the USA; 100,000 devices are being targeted for rollout to the global retail market by 2021.

The company is headquartered in Singapore. Its international presence includes offices in Jakarta, São Paulo, Seoul, Shenzhen, Taipei, and Tokyo.

Listed as one of the top 50 innovative fintech startups in 2018 by KPMG and H2 ventures, the company is also a member of the Singapore Fintech Association, the Fintech Association of Hong Kong, ACCESS, Swiss Finance and the Fintech Association. It is also a founding member of Asosiasi Blockchain Indonesia.

For more information, please visit https://www.pundix.com

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SOURCE Function X Foundation