BANKING MEETS BLOCKCHAIN

Transcription

1 BANKING MEETS BLOCKCHAIN v.5

2 ABSTRACT Blockchain is yet to make a significant breakthrough as a global payment solution. Certain aspects such as technical limitations and a lack of integration have hindered its potential to acquire everyday users and grow beyond the early-adopter phase. Monaize has gained serious momentum building a platform which functions within the legacy-banking infrastructure. However, realizing the importance that blockchain technology will play in the future of FinTech, the team at Monaize wishes to stay ahead of the curve and thus is planning a roadmap through which it is able to offer customers blockchain-based services. Our mission is to push the boundaries in innovation through a long term partnership with the Komodo Platform. Our joint vision is to bridge banking and blockchain, and help cryptocurrencies achieve mainstream adoption.

3 TABLE OF CONTENTS Disclaimer About Monaize About Komodo Platform Mission statement Market Dynamics The Problem The solution (Monaize s E-Banking Platform) In-App Crypto wallet Monaize Platform Banking meets blockchain Gateway to blockchain The team Blockchain advisory Banking & technological partners Milestones Media & conference Initial token offering Komodo s white-label blockchain service General overview of initial token sale Token sale participation disclaimer Token sale participation instructions MNZ token price and raise caps MNZ Loyalty Rewards and Benefits MNZ Perks and Referrals Program Monaize token holder loyalty rewards scheme Allocation of funds Summary

4 DISCLAIMER THE INFORMATION PROVIDED IN THIS DOCUMENT IS NOT INTENDED FOR DISTRIBUTION TO, OR USE BY, ANY PERSON OR ENTITY IN THE UNITED STATES OR THE REPUBLIC OF SINGAPORE, OR IN ANY JURISDICTION OR COUNTRY WHERE SUCH DISTRIBUTION OR USE WOULD BE CONTRARY TO ANY LAW OR REGULATION, OR WHICH WOULD SUBJECT MONAIZE SINGAPORE PTE. LTD AND/OR ENTITY CREATING THE MONAIZE (MNZ) TOKENS (INCLUDING THEIR AFFILIATES) OR ANY OF THEIR PRODUCTS OR SERVICES TO ANY REGISTRATION, LICENSING OR OTHER AUTHORIZATION REQUIREMENT WITHIN SUCH JURISDICTION OR COUNTRY. YOU ARE ONLY ALLOWED TO PURCHASE MONAIZE (MNZ) TOKENS IF AND BY BUYING MONAIZE (MNZ) TOKENS YOU COVENANT, REPRESENT, AND WARRANT THAT YOU ARE NEITHER A U.S. CITIZEN OR PERMANENT RESIDENT OF THE UNITED STATES, OR A CITIZEN OR A PERMANENT RESIDENT OF THE REPUBLIC OF SINGAPORE, NOR DO YOU HAVE A PRIMARY RESIDENCE OR DOMICILE IN THE UNITED STATES OR SINGAPORE, INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, AND ANY OTHER POSSESSIONS OF THE UNITED STATES. IN ORDER TO BUY MONAIZE (MNZ) TOKENS AND BY BUYING MONAIZE (MNZ) TOKENS YOU COVENANT, REPRESENT, AND WARRANT THAT NONE OF THE OWNERS OF THE COMPANY, OF WHICH YOU ARE AN AUTHORIZED OFFICER, ARE U.S. CITIZEN OR PERMANENT RESIDENT OF THE UNITED STATES, OR A CITIZEN OR A PERMANENT RESIDENT OF THE REPUBLIC OF SINGAPORE NOR DO YOU HAVE A PRIMARY RESIDENCE OR DOMICILE IN THE UNITED STATES, OR THE REPUBLIC OF SINGAPORE INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, AND ANY OTHER POSSESSIONS OF THE UNITED STATES. SHOULD THIS CHANGE AT ANY TIME, YOU SHALL IMMEDIATELY NOTIFY THE CREATOR OF MONAIZE (MNZ) TOKENS. CREATOR OF MONAIZE (MNZ) TOKENS SHALL RESERVE THE RIGHT TO REFUSE SELLING MONAIZE (MNZ) TOKENS TO ANYONE WHO DOES NOT MEET CRITERIA NECESSARY FOR THEIR BUYING, AS SET OUT HEREUNDER AND BY THE APPLICABLE LAW. IN PARTICULAR, THE CREATOR OF MONAIZE (MNZ) TOKENS MAY REFUSE SELLING MONAIZE (MNZ) TOKENS TO U.S. CITIZENS, PERMANENT RESIDENTS OF THE UNITED STATES, OR A CITIZEN OR A PERMANENT RESIDENT OF THE REPUBLIC OF SINGAPORE AND THOSE USERS WHO DO NOT MEET ELIGIBILITY CRITERIA ESTABLISHED BY THE CREATOR OF MONAIZE (MNZ) TOKENS FROM TO TIME IN ITS SOLE DISCRETION. 4

5 ABOUT MONAIZE Monaize is a European e-banking platform that provides a mobile-first current account for freelancers and small businesses. Using the latest technology, Monaize is the first platform to provide an instant KYB (Know Your Business) on-boarding process allowing users to create a business current account in less than five minutes with a smartphone. More than just a current account, Monaize is a platform into which an extensive range of third party services will be integrated including professional insurance, innovative payment solutions, cryptocurrency wallets, crowd lending and factoring; empowering entrepreneurs to focus on their business. Monaize will be expanding its services to the United Kingdom, Germany and United States for 2019, before rolling out to the other countries in the world. 5

6 ABOUT KOMODO PLATFORM Komodo Platform thrives on solving existing socio-economic problems through decentralized technologies and paving the way for a prosperous society. They offer white-label services, a framework for decentralized applications, and various plug and play solutions for both businesses and developers. The platform features range from security and privacy to scalability. They have already made breakthroughs with fiat-pegged assets and blockchain interoperability. Their strength lies in their ability to actively follow the latest trends and investigate what other projects are developing within the blockchain industry. Most recently the team was researching micropayment channels based on Bitcoin s Lighting Network and looking into ways to provide language agnostic simple as well as smart contracts. 6

7 MISSION STATEMENT COLLABORATIVE, ETHICAL, INNOVATIVE BANKING. Monaize s spirit is driven by three core values: collaboration, ethics and innovation. We believe in empowering entrepreneurs to help them improve their business trajectories. A digital revolution is currently taking place. This is giving rise to a huge opportunity to change the way we do banking and financial services; providing for a more inclusive and efficient economy. At the forefront of this digital revolution is blockchain, the ingenious technology behind cryptocurrencies like Bitcoin, Ethereum and Komodo, which is set to transform not only the way we transfer money between each other, but all aspects of our everyday lives much like the internet did back in the 1990s. The market cap of all cryptocurrencies surpassed $800 billion at the end of 2017, up from less than $15 billion at the beginning of the same year. Some industry experts are suggesting that this figure could be as high as $5 trillion by Businesses that embrace this new form of money and technology will, in the future, possess a huge competitive advantage over their rivals allowing them to transact with anyone in the world quickly with lower costs. Despite the enormous growth in cryptocurrency interest, certain challenges need to be overcome before widespread adoption is made possible. Therefore, Monaize has built an e-banking application which functions within the current banking infrastructure whilst opening itself up to the blockchain community and sensitizing users, small businesses, to this exciting new technology. We have made it our mission to develop innovative financial products that set small businesses up for entrepreneurial success. 7

8 MARKET DYNAMICS IN THE NEXT 5 YEARS, 60% OF THE GLOBAL WORKFORCE WILL BE MADE UP OF INDEPENDENT WORKERS In 2016, McKinsey & Company published a report stating that there are 162 million independent workers in the United States and Europe. 30% of these people (49 million) use independent work as their primary source of income, accounting for more than $1 trillion in total earnings. The freelance workforce is the fastest-growing component of the economy. In today s economy, more people are creating their own jobs than ever before. Technology, such as the proliferating number of freelance platforms and apps like Uber, is also improving access to freelance gigs. Among respondents, 73% said technology has made finding freelance work easier. 66% said the amount of freelance work they had found online increased since Independent workers generally fit into four segments PRIMARY INCOME SUPPLEMENTAL INCOME Preferred Choice 30 % 40 % Free agents Casual earners 49 million 64 million Out of Necessity 14 % 16 % Reluctants Financially strapped 23 million 26 million Source : 2016 McKinsey Global Institute survey of ~8,000 US and European respondents 8

9 FINTECH IS THRIVING A plethora of challenger banks has sprung up in recent years focussing on various different issues from foreign exchange (Revolut, Transferwise) to providing wallets to the low-paid for more inclusive banking (Monese). Collectively, these startups are raising hundreds of millions of dollars and the major banks are beginning to take notice. In 2014, Spanish banking giant BBVA acquired Simple, an American mobile banking app focussed on helping people budget and save money, for $117 million. In 2016 the same banking giant made another hefty acquisition, this time taking control of Holvi, a Finland-based business-banking app that integrates with tools that help with administrative tasks such as booking keeping and invoicing. Traditional banks are drawn to FinTechs because of the huge value they can provide on the technological innovation front. Having well-known traditional banks on board can be beneficial, notably in order to accelerate growth through increased capital. However, we strongly believe that a fresh mind-set is key to fostering real innovation something that can sometimes be stifled by the narrow focus and old performance measurement metrics that are inherent in traditional banking culture. The table below illustrates the scope of innovation that Monaize is able to undertake through its agile approach: HOLVI REVOLUT N26 TRANSFERWISE SIMPLE MONAIZE INSTANT KYB LOCAL IBAN Dutch only Luthanian only German only Wallet US only CRYPTOCURRENCY PAYMENTS FACTORING BLOCKCHAIN BASED CROWD LENDING BOOK KEEPING & INVOICING 9

10 THE PROBLEM FREELANCERS AND SMALL BUSINESSES UNDERSERVED BY THE BANKS Digital marketplaces such as freelancer.com, Toptal, Fiverr and Upwork have transformed the way in which freelancer services are sourced around the world. Uber, Deliveroo and Amazon rely on self-employed workers who can earn whenever they like, working for whichever company they like, by simply logging in to the associated mobile app. The big banks have not traditionally given attention to freelancers & small businesses, due to the complexity of dealing with this wide-ranging and diverse demographic. There is generally a lack of understanding of their needs, which leads to a high cost of acquisition for this type of client. Moreover, freelancers and small businesses are often considered as non-lucrative clients (too few transactions, small annual volumes & low margins), and are therefore often provided with normal B2C accounts with a higher B2B rate. Certain categories of freelancers (those working for sharing economy platforms) are often rejected from opening an account in traditional banks. 10

11 Monaize is a European e-banking platform which provides a mobile-first current account for freelancers and small businesses. A BUSINESS ACCOUNT OPENED IN JUST A FEW MINUTES No need to dress up in a fancy suit, no in branch meetings, no presentation of business plans to out of touch bank managers. Our users can open a business account in 5 minutes from the comfort of their own home or whilst on the move. This has been made possible thanks to the first real-time, completely automated KYB (Know Your Business) on-boarding process. Users enter personal and company registration information and then take photos of their ID/passport and proof of address from within the app. This information is verified and users gain instant access to their business current account within the Monaize mobile application. 11

12 LOCAL IBAN MONAIZE BUSINESS MASTERCARD Following the verification process, users are immediately provided with a local IBAN. With Monaize, entrepreneurs are able to manage their money on the go: Monaize users are up and running quickly and their Monaize Business Mastercard is dispatched within 5 working days following account opening. This is a highly efficient process allowing entrepreneurs to quickly start making payments and withdrawing cash at the tens of millions of points of sale and ATMs worldwide that show the Mastercard logo. FEATURES PAYMENT SOLUTIONS mpos, , SMS and others. Money Transfers Account Balance Consultation Quick View Recent Transactions Monthly Statements FINANCE Crowd lending, Factoring. Immediate Lost or Stolen Card Cancellation In-app Customer Service (AI Bot) 24/7 MONAIZE BUSINESS MASTERCARD Monaize users are up and running quickly and their Monaize Business Mastercard is dispatched within 5 working days following account opening. This is a highly efficient process allowing entrepreneurs to quickly start making payments and withdrawing cash at the tens of millions of points of sale and ATMs worldwide that show the Mastercard logo. PROFESSIONAL INSURANCE Business cover adapted to the needs of your industry. 12

13 IN-APP CRYPTO WALLET In 2017, we saw huge growth in cryptocurrency card usage as new ICO projects such as Tenx, Mona. co and Centra, as well as existing players like CryptoPay and BitPay, promised an efficient way for individuals to spend their crypto gains with a Visa prepaid card. Unfortunately, for many crypto enthusiasts who became reliant on this means of payment, many of these cards ceased to work in the beginning of January, as Visa decided to terminate their relationship with Wavecrest, one of the main issuers of these cards, due to continued non-compliance with their operating rules. This left people in the crypto space scrambling to find new cryptocurrency-to-fiat payment solutions, and is also a perfect example of why cryptocurrencies should not be used this way in the future. Not only is reliance on centralised institutions such as Visa completely incongruous with the goal of decentralized technologies but it also plants the idea into the minds of many that cryptocurrencies only have value if they can eventually be exchanged into fiat currencies. Our vision is for a world in which cryptocurrencies replace currencies as we currently know them. However, the inertia of the current banking system, and the time it takes for such technologies to become mainstream, mean that it could be some years before this happens. We believe that the best way to help the people we serve transition through this period is by providing hybrid solutions which serve both the legacy banking infrastructure and blockchain at the same time. Monaize users will benefit from a cryptocurrency wallet which is integrated into the main banking application for ios and Android, and which supports well-known cryptocurrencies including Bitcoin, Komodo, Ethereum, Litecoin, Dash and others. The benefit of this hybrid approach is that it encourages people in the business community - Monaize Business users - to begin accepting payment in cryptocurrencies. This goes without mentioning the simpleness and effectiveness of being able to manage fiat banking and cryptocurrencies in one place. 13

14 MONAIZE PLATFORM SUM UP IZETTLE BITPAY CRÉALINKS WAVECREST KLIK & PLAY PAY PFS BITBOND LEMONWAY WIRECARD U K F R A N C E U S A G E R M A N Y 14

15 BANKING MEETS BLOCKCHAIN Blockchain technology is disruptive by nature. As an e-banking platform we need to position ourselves carefully for the transformation that is taking place in banking. Monaize has already made real innovation in the banking space. We want to stay ahead of the curve and thus we are planning a roadmap through which we will be able to offer our customers blockchain-based services. We aim to bridge these two worlds and be the first banking service to provide this for our client base. Komodo Platform is our gateway to accomplish this and we have decided to use their white-label service to create a Monaize token. Through the Komodo Platform we are also able to tap into all the latest blockchain innovations that we will need in future. In addition, Monaize is looking to apply blockchain technology to certain processes that are important to its business. Pegged fiat currencies Scalable payment networks Micropayments through Bitcoin s Lightning Network (concept level) Language agnostic smart contracts (concept level) On-chain KV storage (blockchain database) Blockchain interoperability In addition, Monaize is looking to apply blockchain technology to certain processes that are important to its business. Peer to peer payments amongst Monaize clients Trust-less Proof of Solvency for Business and Business Partners Know Your Business (KYB) Contract Placement & Signature Smart and simple Contracts 15

16 GATEWAY TO BLOCKCHAIN The Komodo Platform is Monaize s gateway to blockchain technology. The Monaize token will be compatible with Komodo Platform and all technologies built on top of it. KOMODO PLATFORM Offers privacy, security, scalability and many other features such as KV storage or independent asset chain capabilities. The platform also provides a gateway to stable fiat-pegged currencies and will expand into a modular full smart contract platform. ZCASH Is the first open, permission-less cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography. Monaize token will inherit all its features through Komodo. AUTOMATIC LOYALTY REWARD DISTRIBUTION METHOD An automatic Loyalty Reward Distribution API has been developed to allow simple yet efficient decentralized reward distribution through the blockchain. This API crawls through the blockchain and creates a list with all public keys and their current holdings. In addition, the loyalty reward distribution API takes a predefined amount and distributes it accordingly (based on the percentage of tokens held) to public key holders. This functionality eases the way blockchain-based smart organizations and decentralized projects manage rewards. The Monaize loyalty reward system will be using this technology to reward token holders. 16

17 THE TEAM (CORE TEAM) VINCENT RAJOO CEO Vincent has been investing in, and playing key roles in multiple projects since 1994 when he co-founded his first start-up, Megadrive Inc. and raised $1.8M. Vincent is a visionary capable of constantly pushing the thought process in terms of how Monaize can do things differently. He is behind the collaborative, innovative, ethical banking slogan, a message he drives home constantly. He also has a unique ability to quickly identify the perfect people and partnership opportunities to work with, something which is paramount in Fintech. GUILLAUME DERIVERY CTO Guillaume graduated from both EPITECH (one of France s top programming schools) and CSUSM (California State University of San Marcos) majoring in computer science & software engineering. Guillaume acquired his knowledge and sharpened his coding skills through different successful global projects involving end to end solutions to build the future of second screen services e.g Fox Sports One App (Australia), UEFA 2016 European Championship, FIFA 2014 football world cup mobile Apps. Guillaume lives to code. However, as a recent hobby he has taken up permaculture in order to better understand nature mechanisms which are way more efficient than any human process. GUILAIN DENISSELLE Chief ICO Officer Guilain has been playing key roles in hotel technology and hotel distribution for more than 20 years. Together with Vincent, he co-founded and/or managed several customer centric projects. SInce he was a toddler, Guilain has always been very curious and this is how he's been involved in the early days of many multidisciplinary projects. He is recognized for his technology toughts leadership in the global hospitality world and is a big advocate of free & open code, free software, free APIs and believes these are the keys to technology's human emancipation... ADRIEN CANDIOTTI Full Stack Developer Adrien graduated from EPITECH, majoring in Computer Science & Software Engineering. After his studies he worked as a freelancer on various projects including the creation of an altcoin. He then joined Tactill as CTO where he rebuilt the entire architecture from scratch and helped improve the general pipeline. Coding and teaching are Adrien s main passions and he likes to spend time learning new paradigms, computer languages or getting back into math's. In his free time, he goes bouldering or makes music on his computer. 17

18 TRÉCY AZÉROT Art Director Trécy s qualities speak for themselves through the beautiful design work visible in this White Paper, on the Monaize website, and in other places on the web and in social media where the Monaize brand is present. Trécy followed 2 years at design school with 4 years working at Netco Sports which specializes in designing and developing multi-platform applications for sport & media. Through this experience, she gained vast experience in mobile design thanks to the wide range of sports-related projects she had the opportunity to work on, becoming an expert in UI-UX. Trécy s experience and her passion for the practice of graphic arts are expressed in a style that provides a sleek, delicate touch to the Monaize brand. ETIENNE THÉODORE Android developer / Front web developer After 2 years of studying Industrial Product Design at the CEA (French version of the Energies and Atomic Energy Commission), Etienne joined Ecole 42, a private, nonprofit and tuition-free computer programming school created and funded by French billionaire Xavier Niel. After 2 years, he then worked on various missions before deciding to specialize in Android applications. Etienne has been with Monaize since early 2017 and, whilst his focus is Android, he has developed a deep understanding of blockchain technology, notably through his work on Monaize s ICO client front-end. Etienne remains heavily involved at Ecole 42, and is responsible for writing and teaching programming courses for current students. MANON LAVERGNE Communication Strategist Manon obtained her MBA in Communication and Marketing from IICP in Paris in 2015 and is especially well-versed in digital strategy. Her career before Monaize included a stint in traditional banking, working for Société Générale, one of France leading banks, where she gained an in-depth understanding of the French startup ecosystem and acquired a large network with the marketing and communication space dedicated to Fintech. She also worked in the hospitality industry for Accor, a multinational hotel group that operates in 95 countries. Manon brings her experience and ability to increase the attractivity and image of brands through creative written content, and a sound social media and web strategy to the fold. She will be pivotal in increasing Monaize s user growth. 18

19 AVA BUCEVICIUTE Finance Director Ava obtained a Banking & Finance degree from the London School of Economics before obtaining her master s degree in Financial Engineering in Paris, France. She has spent the last few years working on various financial projects in NGOs as well as Asset Management, Insurance and Banking organizations. Whilst working for UNESCO Ava s attention to detail, curiosity, flexibility and ease of adaptation improved considerably thanks to wider exposure as she was responsible not only for crunching the numbers but was also thrown into delegations and meetings, reporting to the ministry of foreign affairs. Ava s passion for Finance is as vivid as it was 15 years ago, when she first fell in love with it. However, after working within various sectors and seeing the rigidity for technological advancement, her goal is to bring efficiency, choice and ease for the general public, all within the regulatory framework. FLORIAN GREINER Lead Developer Florian is another EPITECH graduate. As a well-respected developer, and someone who is driven by the prospect of transferring his passion for code and software architecture on to others, he spent time before and after his Masters teaching at top schools including Sup Internet and ETNA. He then undertook freelancer and internal roles as both at various tech startups with a focus on C++, Kernel Development, ASM and Language Theory. Florian has been crucial in constructing Monaize s open banking platform and is dedicated to using technology as a force for change in banking. He can often be seen advising his teammates on various subjects thanks to his deep coding knowledge but if it is anything to do with HTML or CSS, he will not even entertain the conversation. The further away from the front-end the better! When he is not coding, he is either consuming copious amounts of coffee and Red Bull or trying to relax by producing electronic and acoustic music. MAXIME SADDOK Back-End Infrastructure and Blockchain Like the rest of the tech team at Monaize, Maxime attended one of France s top coding schools (ETNA) but claims that a lot of what he has learned has been self-taught through sheer fascination for the understanding and improvement of technologies. Maxime first mined bitcoin back in 2012 when it was worth next to nothing and has been a big contributor to open-source projects over the years. Other specialties for Maxime include Linux, Containers, security, networking and python. Maxime is a keen drummer so when he is not coding or wracking his brain trying to find a solution to a technical problem, he can be found jamming at various bars in Paris. 19

20 BLOCKCHAIN ADVISORY EXTERNAL DEVELOPMENT TEAM THIBAULT BRONCHAIN ROMAIN BELLANDE ADVISORY JAMES LEE - jl777 (SuperNET, Founder) ZIAD MINKDARA (Founder & CEO of CDS Groupe, pioneer in corporate hotel reservation technologies) LEGAL ADVISORY MATHIEW CHRISTOPHE RAJOO (DennisMathiew Singapore) STRATEGIC BLOCKCHAIN PARTNERSHIP Monaize and Komodo have already developed a strong relationship and will be working closely together to overcome existing barriers and push the boundaries of blockchain innovation in FinTech. Through this partnership Monaize will be in a unique position to leverage the blockchain infrastructure that Komodo is building. 20

21 BANKING & TECHNOLOGICAL PARTNERS 21

22 MILESTONES June 2016 July 2016 October 2016 November 2016 January 2017 July 2017 August 2017 September 2017 October 2017 December 2017 January 2018 April 2018 May 2018 Q Birth of Monaize. European road show for banking partner selection process. Official registration of Monaize. Official partnership with Prepaid Financial Services and beginning of connectivity process. Monaize platform development starts. Start of ios and Android application development. First Monaize Business Account in Alpha. Official Partnership Agreement with Komodo Platform for initial Coin Offering. Initial 1 Token Sale Announcement. SuperNET / Monaize initial token sale conference Zurich. First round of ICO campaigning. Atomic Swap and Wallet Functionality Development in collaboration with Komodo Platform. Monaize s design and development team begin work on internal ICO platform. Focus on MNZ Platform Blockchain Development and Token Distribution Infrastucture. Release of source code for MNZ Wallet in TestNet on GitLab: Internal & Public MNZ Wallet Testing for ICO. Private Token sale campaign NUMBER OF USERS 100k 1M 2M 6M MARKETS Europe United States Africa Asia 1 Following technical difficulties, we made the decision to postpone our originally planned ICO. More information can can be found on our Medium blog: 22

23 MEDIA & CONFERENCE MEDIA BTC Manager Frenchweb Les News du Net Assurances Café de la Bourse Startup Story Capital.fr Les Echos Chef d entreprise Les Pépites Tech Gautier Girard Assurance & Banque 2 Planet Fintech Fresh Web Wirate Crypto Ninjas Finance Magnets Cointelegraph Coinspeaker News BTC CONFERENCES Paris Fintech Forum Money CPH Pionier Berlin UPComingVC 23

24 INITIAL TOKEN OFFERING What is an Initial Token Sale? An Initial Token Sale is an event in which an organization swaps all or part of a number of blockchain-based tokens for other cryptocurrencies to raise funds. Token holders are incentivised through loyalty rewards based on the number of tokens owned. The potential increase in the value of the token, due to its usability for various applications, is also a driving incentive for participants. Why are we doing an Initial Token Sale? We believe that token sales are the future of crowd sales. This token sale also represents the perfect opportunity to invite people, especially from the world of blockchain and cryptocurrencies, into the Monaize community and enable them to take part in our success story by contributing to all aspects of the project, from product development to marketing to strategic partnerships. A token sale gives Monaize, and its community of tokens holders, access to: A global supporters base Easy loyalty reward distribution Transparency of ownership Transferability of ownership 24

25 KOMODO S WHITE-LABEL BLOCKCHAIN SERVICE Komodo Platform provides a framework that allows Monaize to be on the cutting edge of blockchain development. Issuance of tokens requires minimum development and allows Monaize to benefit from all the latest innovations from both Komodo and Zcash including: The white-label solution will provide us with the following: Blockchain technology Token issuance Loyalty Reward distribution API Bitcoin s level of security (dpow) INITIAL CONSENSUS METHOD The Monaize token is created with Komodo Platform s asset chain technology. It is a Proof-of-Work blockchain that uses Equihash mining. As a Komodo asset chain, the Monaize token will utilize on-demand block generation. This feature ensures that no blocks are mined unless unconfirmed transactions are queued in the mempool. This means that once the chain is created, a minute number of additional tokens will be created ( MNZ per block = 100 MNZ after 1 million blocks). ADDITIONAL BUILT-IN CONSENSUS METHOD Delayed Proof of Work (dpow) is a service provided by Komodo Platform that increases the security of the Monaize blockchain. It acts as an additional security layer on top of the existing consensus system. Through Delayed Proof of Work, Monaize will notarize blocks to the Komodo blockchain, which in turn notarizes blocks to the Bitcoin blockchain. This scheme ensures that once the information is engraved on the Bitcoin blockchain, it would require both the Monaize and Bitcoin blockchain to be compromised, thus effectively giving Monaize a Bitcoin level of security. 25

26 GENERAL OVERVIEW OF INITIAL TOKEN SALE The private token sale will take place on the 1st of October2018 at 12pm (GMT) and will end on the 31st of March 2019, there will be no public token sale. FUNDS RAISED WILL BE USED TO ACCELERATE THE DEVELOPMENT OF MONAIZE INCLUDING: 3rd party service integration (new payment systems, crowd lending solutions, automated customer service chat bot and others) Further ios and Android application development Blockchain research and development Marketing and sales Administration and operations Strategic partnership development Legal International expansion TOKEN DISTRIBUTION MNZ tokens have been initially generated. The full amount of tokens sold during the ICO will represent 80 % of the token distribution. At the end of the token sale, we ll end up proportionally with: 1 % to a few early supporters (Komodo team). Funds raised will be used for token sale communication and marketing as well as logistics. 9 % to be put aside and distributed overtime as part of an incentive scheme to individuals and organizations that contribute to the Monaize project. These might include marketing, business development, educational content and bug bounties to name a few. 10 % to Monaize s core team as an incentive pool held in escrow and vested over 3 years in order to ensure long term commitment to the company and therefore to the future value of the tokens themselves. All remaining tokens will be burned following this distribution. 26

27 TOKEN SALE PARTICIPATION DISCL AIMER DEFINITIONS Monaize Wallet Download Link - MNZ Wallet download links are sent to ICO participants via once the user has filled out a simple form on the Monaize ICO website requesting first name, last name, address, and also confirming that the user is not a US citizen, not a resident of Singapore or a citizen and/or resident of any country which prohibits participation in ICOs. The MNZ Wallet is a light SPV client based on Electrum. No blockchains needs to be downloaded meaning that it can be up and running very quickly. Monaize Wallet : An online wallet that is officially downloaded from the website www. monaize.com after complying with KYC requirements before downloading is permitted from the official website of Monaize. Checksum : A checksum is a digit representing the sum of the correct digits in a piece of stored or transmitted digital data, against which later comparisons can be made to detect errors in the data. Wallet Binary : The Wallet Binary is binary file that is stored in binary format. A binary file is readable by computer only and cannot be read by humans. All executable programs are stored in binary files, as are most numeric data files which is the basis of creating a Wallet Binary. Permitted Cryptocurrency : Permitted Cryptocurrency shall mean BTC or KMD or other cryptocurrencies which Monaize has agreed to accept. Further, Monaize will not swap any Permitted Cryptocurrencies with MNZ Tokens if: Permitted Cryptocurrencies will be equivalent to less the minimum investment of MNZ; or The Permitted Cryptocurrencies exceed the maximum investment of MNZ; or The Permitted Cryptocurrencies are not sent to Monaize the official MNZ wallet that will be provided by the Monaize team, 27

28 TOKEN SALE PARTICIPATION DISCLAIMER (NEXT) Monaize shall not be responsible if the swaps do not take place or the Permitted Cryptocurrency is lost due to the following reasons: Use of unofficial Monaize Wallet which are not from the website, and/or the Monaize Wallet Download Link. Non-compliance of the rules and procedure imposed by Monaize for swapping Permitted Cryptocurrencies with MNZ token. In such an event where the Permitted Cryptocurrencies are not swapped successfully, Monaize shall not be responsible for the losses incurred by any party whatsoever. IT IS THE RESPONSIBILITY OF THE USER TO ENSURE THAT THE VERSION OF THE ICO WALLET BEING USED IS THE OFFICIAL VERSION PROVIDED BY MONAIZE THROUGH THE MONAIZE WEBSITE AT AND/OR THE MONAIZE WALLET DOWNLOAD LINK AS A PROOF OF AUTHENTICITY, MONAIZE WILL GIVE ACCESS TO ITS MNZ WALLET ONLY ON MONAIZE.COM AND/OR THE MONAIZE WALLET DOWNLOAD LINK WHERE A WALLET CHECKSUM OF THE WALLET S BINARY WILL BE DISPLAYED. MORE INFORMATION ON THIS WILL BE PROVIDED WITH THE WALLET. Users must verify the checksum given out by monaize.com corresponds with the checksum of its version. 28

29 TOKEN SALE PARTICIPATION INSTRUCTIONS As part of our ICO re-launch, Monaize is excited to announce the release of its entire crypto asset distribution platform, designed and developed exclusively by the Monaize in-house team, including all back-end functionalities and the GUI for users to participate in the ICO called MNZ Wallet. As can be seen from the instructions below, the wallet has been designed to make ICO participation as smooth and as user-friendly as possible, whilst keeping with Monaize s sleek design for a pleasurable experience. 1. DOWNLOAD WALLET MNZ Wallet download links are sent to ICO participants via once the user has filled out a simple form on the Monaize ICO website requesting first name, last name, address, and confirming that the user is not a US citizen or a citizen of any country which prohibits participation in ICOs. The MNZ Wallet is a light SPV client based on Electrum. No blockchains needs to be downloaded meaning that it can be up and running very quickly. 2. LOAD KMD/BTC Once the MNZ Wallet has been downloaded, the user can load it with either KMD or BTC (or both) in preparation for the token sale by simply clicking on the corresponding address to copy it to clipboard. Monaize s ICO wallet is compatible with Komodo technology wallets (NXT address management protocol) meaning that users can also import their existing balances by simply entering the associated passphrase. 3. BUY MNZ Once the wallet has been loaded with the purchasing cryptocurrency (KMD or BTC), and the ICO has officially started, users are able to buy their MNZ tokens simply by choosing the amount of MNZ they want and then clicking buy. For Bitcoin participations, users are given a choice of transaction fee depending on the speed at which they would like to receive their Monaize tokens. Swaps are processed in real-time once reception funds is confirmed (6 confirmations minimum). However, the exact time at which the user buys is considered when calculating bonuses. 29

30 MNZ TOKEN PRICE AND RAISE CAPS For 1 Bitcoin, supporters will get MNZ tokens. KMD will also be accepted as a form of payment, the exact swap rate will depend on the KMD/BTC exchange rate during the token sale. Due to the current crypto market condition we have re-adjusted the maximum raise amount to the equivalent of $10 million. We have set the minimum raise amount to the equivalent of $1 million. 30

31 MNZ LOYALTY REWARDS AND BENEFITS WHY SHOULD I INVEST IN MNZ TOKEN? Token-based crowd sales have been a growing phenomenon since their conception in Accelerated interest in 2017 has seen all time investments skyrocket upwards of $5 billion. Many of these fundraises have been achieved with nothing more than a white paper. Monaize has a working product, an established team and strong financial services and blockchain partners. Our long-term success is hugely dependent on our ability to reward supporters and others that believe in the project. To do this, we are putting in place an attractive MNZ token holder loyalty rewards scheme. Monaize will be pushing the boundaries in blockchain innovation by being at the forefront of this revolutionary technology, which will benefit MNZ token holders as the Monaize Business Account user base grows at an accelerated pace. We will be setting up a blockchain research and development team to explore the different ways in which blockchain technology can be integrated into our services. Along with our partners from the Komodo platform, we invite participation from members of the blockchain community to engage with us through our Slack and Reddit channels. 31

32 MNZ PERKS AND REFERRALS PROGRAM A key part of Monaize s business model is the integration of 3rd party financial services. Our open banking platform allows partners such as SumUp and Currency Cloud to integrate seamlessly in order to provide their services such as payments solutions and international money transfers. Monaize remains partner agnostic in this endeavor, allowing many different players to integrate. Monaize Business Users will be attracted by the low rates offered thanks to competition created within the platform. However, another hugely attractive benefit for Monaize Business Users will be the opportunity to earn MNZ Tokens. HOW THE MNZ PERKS PROGRAM WORKS Starting in Q2 of 2019, Monaize business users will be rewarded in the form of MNZ Token for using 2 services in particular: International money transfers. Payment solutions (mpos, payment link, crypto payment services). HOW TO EARN MNZ PERKS At the beginning of each quarter we will announce details on how many MNZ can be earned based on either: The amount of money transferred internationally (outside of SEPA for Europe) through partners such as Currency Cloud. The amount received through payment solution partners such as BitPay and SumUp. A simple example is shown below: From 1st April 2019 to 30th June 2019: Every $ transferred internationally = 1 MNZ earned. For every $ received through payment solutions = 10 MNZ earned. MNZ perks will be made as attractive as possible in order to not only attract new customers to the platform but also to encourage the use and growth of Monaize s 3rd party financial services platform. HOW TO REDEEM MNZ PERKS A Redeem MNZ Perks function within the Monaize Business application will allow users to receive their earned MNZ. Activating this feature will lead to a MNZ address creation with the crypto wallet which will, in turn send the pubkey address back to the Monaize Business application in order for earned MNZ perks to be sent. MNZ Perks will be delivered at the end of each financial quarter. 32

33 MNZ PERKS AND REFERRALS PROGRAM (NEXT) HOW TO USE MNZ PERKS Monaize Business Users have several options once they have received their MNZ perks: They can be held safely on a MNZ wallet address in order to receive Monaize Token Holder loyalty rewards in the form of KMD (outlined in page 32 above). They can be held long term as a store of value which grows as Monaize expands and increases its user count. They can also be collected and swapped on exchanges in return for other cryptocurrencies as part of a speculative approach. As part of our long-term mission to pave the way for cryptocurrency adoption, we will create informative, educational content about the different ways in which earned MNZ Tokens, and cryptocurrencies in general, can be used by our business users, many of whom still have very little knowledge about the growing phenomenon. REFERRALS PROGRAM Monaize will also allow its business users to earn MNZ by referring friends and acquaintances. Earned referral MNZ will be credited once the the person being referred has signed up to an account and paid the annual fees. The earned amount of MNZ will vary and will be highly incentivizing in order to contend with the high costs of business client acquisition typically seen in banking. PROVIDING MNZ PRICE SUPPORT In order to deliver earned MNZ perks to our clients, we will be constantly purchasing MNZ back from exchanges in preparation for the following quarter. This will provide support the MNZ token price, benefiting all token holders. 33

34 MONAIZE TOKEN HOLDER LOYALTY REWARDS SCHEME Token holders will receive rewards based on the number of monthly Monaize Business Account creations (new user sign ups and renewals in the Monaize ios and Android banking applications). PROJECTED NUMBER OF MONTHLY SIGN UPS (AVERAGE) Rewards are distributed on the 1st day of every month. Komodo Platform s automatic reward distribution API crawls through the blockchain and creates a list with all public keys and their current holdings to distribute R proportionally based on the percentage of MNZ tokens held Onwards Below is simulation for a MNZ token holder: TIME K U February Monaize token holder loyalty rewards are distributed in KMD. The number of new Monaize Business Account creations is counted at the end of every month and, depending on the year, the equations below are used to calculate the collective sum rewarded to Monaize token holders. Token holding for MNZ user 5 X K U = R 1 % of all tokens R = Total amount rewarded to token holders (KMD) K = Price of Komodo coin ($) U = Number of new Monaize Business Account Creations 5 X = R R = ,6 KMD 2 X K 4 X 2021 K U U = R = R 3 X 2022 onwards 5 X K K U U = R = R If the token holder owns 1% of all MNZ tokens, he receives 166,6 KMD for the month of March. Tokens need to be held in the same private key for a minimum of 16 consecutive days in the previous month for the holder to receive the loyalty rewards. 34

35 ALLOCATION OF FUNDS The proceeds from the token sale will be used to fund the continued development of the Monaize product as well as for user acquisition and research and development. PRODUCT DEVELOPMENT 40 % Continued development of features for Monaize ios and Android apps. Continued development of Monaize s open platform and API building for the integration of new 3rd party services including professional liability insurance, blockchain-based crowd lending, mpos solutions and foreign exchange solutions. MARKETING AND CUSTOMER ACQUISITION SEO for the acquisition of new sign ups.. 25 % Advertising. FinTech events and conferences for the development of new partnerships. Social media marketing. Traditional news outlets and small business publications. BLOCKCHAIN RESEARCH AND DEVELOPMENT 15 % Establishment of research in collaboration with high profile tech universities for the development of blockchain-based banking services. Idea bounty creations and development in collaboration with open source blockchain projects. 35

36 ALLOCATION OF FUNDS (NEXT) CAPITAL EXPENDITURE 15 % Expansion to new countries U.K., Germany, United States, Canada, Malaysia, South Africa, Australia. E-money licence partnerships Regulation technology. 5 % LEGAL FEES Monaize Pte Ltd in Singapore operational and legal costs. MONAIZE FUND ESCROW Funds committed during the initial token sale will be held in a secure multi-signature wallet and will only be released from the account with at least 2 out of 3 signatories: Mathiew Christophe Rajoo Legal Advisor (DennisMathiew Singapore) Vincent Rajoo CEO at Monaize Guillaume Derivery CTO at Monaize 36

37 SUMMARY At Monaize we believe that small business and independent work will be the way of the future. Downsizing the corporate economy and giving individuals the freedom to pursue what drives them most is something that we are passionate about. A revolution is taking place with technology at its heart. This will allow us to help millions of people with thousands of different specialties to easily navigate the financial aspect of being an entrepreneur whilst taking away the complexity and high costs typically associated. Join us on our journey and be part of this success story by participating in the Monaize token sale. We are looking forward to welcoming you on board and engaging you to the future where banking meets blockchain. Website: monaize.com/#/uk/ico ico@monaize.com JOIN OUR COMMUNITY: Telegram: t.me/monaizeofficial Discord: discord.gg/kjp9ev2 37