Independent Reserve Company Update – March 2014

• The production servers at Independent Reserve are now 100 % operational.  We have a total of 35 servers spread across two top tier data centres in Sydney which give us outstanding scalability, performance and redundancy.

• Much of our time the past month has been spent load testing and performance tuning our exchange engine, to ensure it truly is scalable under heavy load.  We are happy to report that our exchange has proven to support over 200 trades per second, which far exceeds the total trades per second performed by all existing Bitcoin exchanges combined by roughly an order of magnitude!

• We are currently negotiating several key partnerships with some Bitcoin industry heavyweights to provide Independent Reserve with both liquidity and capital to succeed after launch.  We have had several face-to-face meetings with key stakeholders and we are hoping to make some exciting announcements over the next several weeks.

• We are currently training a telephone help desk operator, and have organised local telephone lines in Australia, Singapore, Hong Kong and New Zealand.

• In our previous update we mentioned that ASIC were close to coming to a resolution on our AFSL application.  They have since informed us that the time frame for processing the application is 3-5 weeks from now.  This is frustrating, but based on the best information we have from ASIC, we are still on track.

• We will soon be opening Independent Reserve for a Private Beta, where we will invite a select number of users to register with the system, provide feedback and help us identify any issues before releasing it to the rest of the world.
  

Thanks again for your continued support.

Adam Tepper
Chief Executive Officer