bringing the power of blockchain€¦ · voxcracy french startup specialized in governance and...

S U B S C R I P T I O N O F F E RW H I T E PA P E R

B R I N G I N G T H E P O W E R O F B L O C K C H A I N T O I N S T I T U T I O N S

DISCLAIMER OF LIABILITY

The purpose of th is White Paper i s to present Money By Des ign and i ts GeoToken ( GTK) to future token holders in connect ion with the proposed Token sa le . The informat ion set forth below may not be exhaust ive and does not imply any e lements of a contractual re lat ionship . I t s so le purpose i s to prov ide re levant and reasonable informat ion to potent ia l token holders in order for them to determine whether to undertake a thorough analys is of the company with the intent of purchas ing GTK Tokens .

Nothing in th is White Paper shal l be deemed to const i tute a prospectus of any sort or a so l ic i tat ion for investment , nor does i t in any way perta in to an of fer ing or a so l ic i tat ion of an of fer to buy any secur i t ies in any jur i sd ict ion . This document i s not composed in accordance with , and is not subject to , laws or regulat ions of any jur i sd ict ion , which are des igned to protect investors .

GTK Token is a ut i l i ty token. This has not been registered under the Secur i t ies Act , the secur i t ies laws of any state of the United States or the secur i t ies laws of any other countr y , inc luding the secur i t ies laws of any jur i sd ict ion in which a potent ia l token holder i s a res ident .

GTK Token cannot be used for any purposes other than those prov ided in the White Paper , inc luding but not l imited to , any investment , speculat ive or other f inancia l purposes .

GTK Token is not intended for sa le or use in any jur i sd ict ion where sa le or use of d ig i ta l tokens may be prohibi ted .

GTK Token confers no other r ights in any form, inc luding but not l imited to any ownership , d is t r ibut ion ( inc luding but not l imited to prof i t ) , redemption , l iquidat ion , propr ietar y ( inc luding a l l forms of inte l lectual property ) , or other f inancia l or legal r ights , other than those speci f ica l ly descr ibed in the White Paper .

Certa in statements , est imates and f inancia l informat ion conta ined in th is White Paper const i tute for ward- looking statements or informat ion . Such for ward- looking statements or informat ion involve known and unknown r i sks and uncerta int ies , which may cause actual events or resul ts to d i f fer mater ia l ly f rom the est imates or the results impl ied or expressed in such for ward- looking statements . White Paper can be modi f ied to prov ide more deta i led informat ion .

This Engl i sh language White Paper i s the pr imar y of f ic ia l source of informat ion about the GTK Token. The informat ion conta ined here in may f rom t ime to t ime be t rans lated into other languages or used in the course of wr i t ten or verbal communicat ions with ex ist ing and prospect ive customers , partners etc . In the course of such t rans lat ion or communicat ion some of the informat ion conta ined here in may be lost , corrupted, or misrepresented. The accuracy of such a l ternat ive communicat ions cannot be guaranteed. In the event of any conf l icts or incons istencies between such t rans lat ions and communicat ions and this of f ic ia l Engl i sh language White Paper , the prov is ions of th is Engl i sh language or ig inal document shal l preva i l .

You acknowledge and agree that there are r i sks associated with purchas ing , holding , and us ing GeoToken in connect ion with the Company ’s product , ser v ices and plat form developed for such products and/or ser v ices (hereaf ter , the “P lat form”) , as d isc losed and expla ined in th is White Paper and in the Terms and Condit ions ava i lable on Februar y 28 th 2019 . I f you have any quest ions regarding these r i sks , p lease contact us at legal@moneybydes ign . io .

BY PURCHASING GEOTOKENS, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS.

Only people who are fu l ly aware of these r i sks should part ic ipate in the ICO. Note a lso that the ICO excludes certa in groups of people such as “U.S . Person” (with in the meaning of “Regulat ion S” of the Secur i t ies Act 1933 under U.S . law) and pr ivate indiv iduals act ing on a non-profess ional bas is as a s imple consumer (with in the meaning of EU Direct ive 2011 /83/EU of the European Par l iament and of the Counci l of 25 October 2011 on consumer r ights ) .

MONEY BY DESIGNS U B S C R I P T I O N O F F E R

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©Money By Design 2018 •www.moneybydesign. io

TOKEN SALEOPPORTUNITY

The Money by Des ign Blockchain i s monetar y sof tware that a l lows people to

produce and manage thei r own tokens . I t of fers users extended features that

increase the uses that can current ly be made f rom a currency.

In short , we of fer the opportunity to invest in the f i r s t d ig i ta l currency that i s

dedicated to smart tokenizat ion ser v ices customized for banking , insurance , and

bus iness and inst i tut ion funct ions .

This is the f i rst ful ly-or iented monetary, f inancial and economic system.

The Money by Des ign pro ject descr ipt ion , operat ional features , whitepaper and

Token Sale deta i l s are ava i lable at www.moneybydes ign . io .

AN EXPERIENCED TEAM:

Voxcracy French startup specia l ized in governance and decis ion-

making , who were the f i r s t to develop a method capable of so lv ing the

Condorcet vot ing paradox

Chaineum French Blockchain consort ium of experts who have organized

mult ip le ICOs around the wor ld such as DomRaider .

A TOKEN BASED ON THE VALUE OF USE:

The GeoToken is an innovat ive technological asset . I t i s based on a set of seven

features whose user benef i ts have been evaluated by Goodwi l l Management , an

independent audit f i rm. The report can be found on the Money by Des ign websi te .

The GeoToken issue pr ice represents a smal l percentage of the user ’ s economic

and socia l benef i ts . The purchase of the Geo token gives the purchaser the r ight

to use i ts features .

A LEGALLY STRUCTURED PROJECT:

A l l of the technical e lements of Money by Des ign have been studied to ensure

compl iance with the French legis lat ion 1.

1The AMF is the stock market regulator in France and functions as an independent public body.

http://www.moneybydesign.io

http://www.voxcracy.com

https://en.wikipedia.org/wiki/Condorcet_paradox

http://www.chaineum.com

https://corporate.domraider.com/

http://www.chaineum.com

http://www.voxcracy.com


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A PROFESSIONALLY ORGANIZED ICO:

A port ion of the tokens wi l l be di rect ly marketed on the f inancia l markets by

profess ional t raders .


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ICO SPECIFICATIONS:RELEASE DATE :

∞ Pr ivate Sales : f rom March 1 st to May 31 st

∞ Pre- ICO: f rom June 1 st to September 30 th

∞ ICO: f rom October 1 st to Februar y 28 th 2019

TOKEN TOTAL SUPPLY: 43 bi l l ion

TOKENS TO SELL: 30 , 1 b i l l ion

UNIT COST OF THE TOKEN: 1 eurocent

NAME OF THE TOKEN: GeoToken

TOKEN SYMBOL: GTK

MANAGEMENT OF RAISING FUNDS: escrow

HOLDER ORGANIZATION: Notar y / Lawyer

NUMBER OF TOKENS ISSUED:

∞ 3 bi l l ion tokens on the pr ivate sa le with bonus system.

∞ 9, 1 b i l l ion tokens on pre- ICO with reverse auct ion

∞ 5 rounds of 3 ,6 b i l l ion on ICO with c lass ic b idding system

BONUS ON THE PRIVATE SALE:

∞ f rom 1 ,000 euros to 100,000 euros of investment : 10%

∞ f rom 100,001 euros to 200,000 euros of investment : 20%

∞ f rom 200,001 euros to 500,000 euros of investment : 30%

∞ f rom 500,001 euros to 1 ,000,000 euros of investment : 40%

∞ more than 1 ,000,001 euros : 50%

REVERSE AUCTION ON PRE-ICO:

∞ A l imited quant i ty of Tokens are shared between a l l the investors in

proport ion to the amount invested by each . In the reverse auct ion , the

market makes the pr ice .


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CLASSIC AUCTION ON ICO:

∞ Five short rounds spread over t ime are intended to att ract attent ion and

se ize a l l the f inancia l opportunit ies re lated to the events surrounding

the ICO.

UNLOCKING FUNDS:

∞ 15% for b lockchain technical development

∞ 15% for the blockchain bus iness development

∞ Total re lease of funds af ter technical and bus iness achievement

MINIMUM THRESHOLD OF COLLECT FOR UNLOCKING FUNDS (SOFTCAP):

∞ 300 mi l l ion of GTK dur ing the whole ICO process

MINIMUM THRESHOLD OF INVESTMENT FOR EACH INVESTOR (€/GTK):

∞ 100 euros / 100 000 GTK

CURRENCY CONVERSION PROCESS:

Investors can pay with any f iat -currency and with a l imited l i s t of cr ypto-currencies that wi l l be publ ished on the Web Si te

CURRENCY CONVERSION RISK:

Each investor wi l l get the exact amount of GeoToken that corresponds to thei r investment . The currency convers ion r i sk i s taken by the ICO organizers .

CONVERSION OPERATOR: Kraken / B i tplay

PAYMENT PLATFORM: Chaineum ( for cr yptocurrencies and f iat currencies ) .

TOKEN STRUCTURE:

Bounty 3%

DISTRIBUTION 70%Reserve

10%Team10%

Advisors7%

2By bounty we refer to the sums that will be paid to promoters of the Money by Design project. .

2


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TAB

LE O

F C

ON

TEN

TICO SPECIFICATIONS: 5

OUR POSITION IN THE MARKET 8

A BLOCKCHAIN FOR INSTITUTIONS 9

WHAT IS THE CHALLENGE ? 9

A NEW MEANS OF FUNDING 10

GEOTOKEN FEATURES 13

GEOTOKEN’s USER GUIDE 22

THE MODULAR METHOD 23

THE MARKET 26

USERS AND USAGES 27

GEOTOKEN VALUATION RULES 28

PRICE MANAGEMENT ALGORITHM 29

GEOTOKEN INFORMATION + PRICE ALGORITHM = TRANSPARENCY 33

WHY DO WE NEED TO MANAGE TOKEN L IQUIDITY ? 34

ISSUANCE OF NEW TOKENS AND FUNDING 36

CONVERTIBIL ITY OF TOKENS AND PURCHASING POWER 37

DIFFERENT WAYS TO SELL GEOTOKEN 39

PRODUCT DEVELOPMENT STRATEGY 42

SMART TOKEN AS A SMART PHONE 44

BLOCKCHAIN DIRECTORY AND TECHNOLOGY WATCH 46

TECHNICAL ARCHITECTURE OF MONEY BY DESIGN CHARACTERISTICS 46

CONSENSUS MECHANISM OF MONEY BY DESIGN 47

HIGHLIGHTS OF MONEY BY DESIGN’S TECHNICAL OFFER 48

ROADMAP OF TECHNICAL PROJECT DEVELOPMENT 49

MONEY BY DESIGN PROJECT BUDGET FROM 2019 TO 2023 49

LEGAL ORGANIZATION 50

WORKING GROUPS AND DIALOGUE 50

APPENDIX 55


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Gutenberg gave us the capacity to pr int books… Blockchain g ives us the capabi l i ty to pr int

tokens . Smart Tokens wi l l be the emergence of an inf in i te number of so lut ions and pract ices

Ol iv ier Rocca ( CEO, Money by Des ign)

OUR POSITION IN THE MARKET

I f one were to rev iew publ icat ions on the topic of Blockchain s ince i ts incept ion , they would f ind two dominant themes .

In i t ia l ly , the focus was on “ inf rast ructura l currencies ” such as Bi tcoin , Ethereum, Ripple , etc . , and ex ist ing concerns revolved around issues l ike the scalabi l i ty of a Blockchain , the t ransact ional throughput and the abi l i ty to ensure increas ingly rapid , secure and f ree t ransact ions .

Nowadays , d iscuss ions focus more on token funct ional i ty , leading to the emergence of buzzwords such as ‘ ICO’ and ‘ tokenizat ion ’ . Af ter an ever-growing pool of investors s tarted invest ing in tokens hav ing a speci f ic funct ional i ty 3 - in most cases , address ing a n iche market – attent ion shi f ted to a second categor y of cr yptocurrencies ca l led “ technological currencies ” . GameCredit , B lack Coin , Zcoin , ChronoBank , NameCoin , etc . , a re a few examples in th is categor y .

Those two types of currencies are both important f inancia l and economic innovat ions , but no intermediate layer between inf rast ructura l and technological currencies ex ists for the moment . I t i s prec ise ly where the Money By Des ign pro ject f inds i ts p lace : by introducing the GeoToken, we are propos ing the introduct ion of an on-board monetar y sof tware that a l lows the integrat ion of ser v ices into the currency.

In short , we descr ibe the GeoToken as a mult i - funct ional “ superst ructure currency” intended to coordinate between micro and macro levels of an economy, creat ing a new inte l l igent t ransact ion market in the process , with the potent ia l of becoming an internat ional benchmark in the future .

Currency governance

Private

SCIC Geo

Foundations, Consortiums Bitcoins, Ether…

Nation States Dollar, Yen, Euro…

DomRaider, GameCredits, Waves…

Markets

Technological currencies

SovereignCurrencies

InfrastructuresCurrencies

SuperstructureCurrencies

3 In most cases, the tokens’ function is intrinsically linked to a digital product or digital service offer making it a specialized asset.


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A BLOCKCHAIN FOR INSTITUTIONS

Today , B lockchain and Inst i tut ions ex ist in two separate wor lds .

Inst i tut ions are scept ica l about the Blockchain owing to i ssues concerning :

∞ I t s lack of sca labi l i ty ,

∞ I t s lack of contro l ,

∞ I t s lack of s t ructure .

On the f l ips ide , B lockchain enthus iasts cr i t ic i se inst i tut ions for :

∞ Thei r h ighly centra l ized env i ronment ,

∞ Thei r r ig id i ty and s low adaptat ion pace ,

∞ Thei r lack of inte l l igence and socia l d imension .

Looking back at the h istor y of Blockchain , i t would seem that the f i r s t B lockchain ’s were constructed to be r iva ls to inst i tut ions . But as the technology evolves , we can obser ve that Blockchain and Inst i tut ions share a fundamental character is t ic – that of being a societa l marker of t rust .

With th is perspect ive in mind, the object ive of the Money by Des ign pro ject i s to br ing the Blockchain to inst i tut ions , and create a mutual ly benef ic ia l re lat ionship in the process . This re lat ionship needs to be nurtured as inst i tut ions wi l l p lay a ro le in developing the durabi l i ty of the Blockchain , just as tech communit ies wi l l p lay a ro le in bui ld ing the inst i tut ions of the future .

In order to re inforce and ampl i f y the promise of the Blockchain and reestabl i sh the loss of va lue that has occurred in recent t imes - v ia phenomena such as speculat ion on bi tcoin , the concentrat ion of wealth , the h ighly centra l ized management of Publ ic Blockchains , and the ‘c r ypto-anarchy ’ seen in some networks , - the Money by Des ign pro ject a ims to become the l ink between Blockchain and Inst i tut ions , by a l lowing Inst i tut ions to become Blockchain users .

WHAT IS THE CHALLENGE ?

On Februar y 2018 , Agust in Carstens , the general manager of the Bank for Internat ional Sett lements (BIS) condemned bitcoin as «a combinat ion of a bubble , a Ponzi scheme» and, due to the energy consumption required for mining i t , an «env i ronmental d isaster» ( Coindesk , 2018) . He further went on to extend this condemnat ion to a l l c r yptocurrencies c i t ing that “because of the st rong pr ice f luctuat ions , the h igh costs of t ransact ions and the lack of consumer and investor protect ion by a «centra l author i ty» - a centra l bank - they are not able to fu l f i l the three miss ions of a rea l currency… Namely ser ve as a unit of account , be a means of payment , and const i tute a s tore of va lue” He concluded by stat ing that “The meteor ic r i se of cr yptocurrencies should not make us forget the important place that centra l banks occupy as repos i tor ies of publ ic t rust… .Pr ivate d ig i ta l tokens pos ing as currencies should not detract f rom that t rust» (Le F igaro , 2018) .


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I t i s easy to d iscard these comments as the statements of someone who does not understand, or does not wish to comprehend the technology of the Blockchain . But in ret rospect , they do highl ight a few important latencies exhibi ted by most cr yptocurrencies today :

∞ The major i ty of cr yptocurrencies today are more focused on improv ing the ef f ic iency of payment systems, rather than improv ing the other funct ions of money.

∞ Most tokens that have been issued in the recent past have a ver y h igh volat i l i ty 4, that makes them inef f ic ient carr iers of va lue making them unusable by inst i tut ional actors .

∞ Owing to the high pr ice f luctuat ions of tokens , i t i s extremely r i sky to use them as ef f ic ient units of account for f inancia l and economical t ransact ions . As a resul t , thei r current use i s most ly in the speculat ive arena on cr yptocurrency exchange plat forms .

∞ The dist r ibuted st ructure of the publ ic Blockchain makes i t hard ( i f not imposs ible ) to regulate and prov ide secur i ty ser v ices which are ava i lable to intui t ional actors .

As a resul t of these inef f ic iencies , there ex ists today , an inherent d ichotomy between inst i tut ional and emerging economic models . Moreover , i t reduces the potent ia l of l iberat ing us f rom the t radit ional f inancing models , which i s the main reason why investors have f locked to ICO’s in recent t imes .

I t i s in order to respond to these latencies that we created the Money by Des ign pro ject , as we a im to prov ide users , organizat ions and inst i tut ions a token that a l lows the end-user to have access to the fu l l range of a d ig i ta l ly -nat ive currency ’s potent ia l .

A NEW MEANS OF FUNDING

Money by Des ign uses the fu l l potent ia l of the Blockchain to propose a new way of us ing tokens to f inance the development of pro jects . The reason for creat ing th is pro ject , i s that a long with the l imitat ions descr ibed above , c lass ica l and emerging funding models share some common latency when i t comes to per forming certa in operat ions , such as f inancing a new act iv i ty :

∞ To f inance an act iv i ty today f i rms can divert a port ion of prof i ts coming f rom sales , but inst i tut ions and socia l organizat ions (e .g . : char i t ies ) are of ten not involved .

∞ Businesses can part ic ipate in fundra is ing , but have to accept d i lut ion of ownership 5 in exchange

∞ Obtain a loan but increase debt and interest obl igat ions in the process

4 Refer trends of different cryptocurrencies on: https://coinmarketcap.com/5 The recent upswing in ICO’s has been mainly due to the fact that it allows the owners to receive funds from investors without giving up shares in exchange. .

https://www.cbinsights.com/research/blockchain-ico-vc-funding-pace/

https://coinmarketcap.com/


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∞ Part ic ipate in a crowdfunding but at the r i sk of access ing l imited funds

MONEY BY DESIGN provides a new funding solut ion by a l lowing users to create unique cryptocurrencies which are capable of representing the value of an authenticated asset 6.

Money By Des ign proposes an a l ternat ive so lut ion that wi l l a l low bus inesses and inst i tut ions to safe ly measure , represent and monet ize thei r mater ia l or immater ia l assets . . In doing so , we prov ide organizat ions a wider range of opt ions and solut ions , such as :

∞ Monet izat ion of mater ia l and immater ia l assets

∞ Cash management for internat ional companies

∞ Government cr ypto-bond emiss ions

∞ Create automated governance and payment systems v ia a DAO

∞ Real ise char i ty funding ( turning donat ion to investment)

6 Authenticated Assets are assets whose proof of verification is stored on a Blockchain. Eg: Everledger which tracks a diamonds characteristic, history and ownership and stores them on a Blockchain. .


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STRATEGICAL POSITIONING:

∞ A decentra l ized and compl iant Blockchain specia l ized in smart tokenisat ion ser v ices

∞ Create a br idge between the wor ld of inst i tut ional f inance and the wor ld of Blockchain

THE TYPE OF CONSENSUS :

∞ Replace “Proof of Work” and “Proof of Stake” with “Proof of Authority ” , which requires s igni f icant ly lower computat ion power and lower energy consumption .

∞ Permit any inst i tut ion to become a node of author i ty and enable them to exerc ise a h igher degree of regulat ion and contro l on the network ’s act iv i ty to sat is f y a l l thei r compl iance needs .

THE SMART CURRENCY:

∞ A smart cr yptocurrency with seven features that go beyond the s ingle funct ion of payment

∞ An augmented cr yptocurrency dedicated to the sat is fact ion of the users

THE TOKEN VALUATION:

∞ A predictable token whose va lue depends on the number of users and the number of t ransact ions

∞ An ant i -speculat ive token with a va lue regulat ion mechanism for pr ice stabi l i ty and growth .


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GEOTOKEN FEATURES

We can compare the di f ference between the ex ist ing currencies (which are essent ia l ly used as a means of payment) and the GeoToken (which has a mult i tude of features ) l ike the di f ference between a rotar y d ia l phone (which can only be used to make and receive ca l l s ) and a smart phone (with i ts ever y growing number of appl icat ions) with i t widespread range of uses .

G

In h is book , Nicomachean Ethics , the Greek phi losopher Ar is tot le proposed the funct ional def in i t ion of currency as an account ing unit , an exchange inst rument and a va lue conser vat ion inst rument . Bui ld ing upon this def in i t ion , the GeoToken a ims to prov ide seven addit ional modi f ied and/or addit ional funct ions . These include :

1 . AN ACCOUNTING UNIT:

GThe GeoToken works as an account ing unit as i t able to represent the va lue of any f low, or s tock , of goods , ser v ices or assets . Hence , i t can be used for economic and f inancia l account ing calculat ions . The account ing funct ion of a token is of pr imordia l importance as i t a l lows us to va lor i se a product or ser v ice and t race i ts f low, or s tock ,

as i t i s exchanged. Token product ion can thus be def ined as the creat ion of a new account ing unit that respond to speci f ic demands of users – be i t economic , soc ia l , cul tura l or env i ronmental .


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What makes the GeoToken “Smart ” i s that i t ser ves as an account ing unit that i s capable of d ig i ta l ly reproducing the rates of major nat ional currencies and cr yptocurrencies . A good way to th ink about th is i s as i f the token had a bui l - in currency convertor that can be exchanged f rom one currency to another without the hass le of us ing a currency exchange. This automat ic convert ib i l i ty a l lows the token to fac i l i tate targeted investments , and a wal let holding GeoTokens would funct ion as a personal unit - l inked fund with an unl imited number of f iat and cr yptocurrencies .

This feature of the GeoToken can provide:

∞ Protect ion against exchange rate and interest rate f luctuat ions

∞ Poss ib i l i ty to create new monetar y inst ruments or to evolve ex ist ing monetar y inst ruments

∞ Abi l i ty to map cash f lows without the need of conduct ing a specia l ized long-term audit

∞ Easy access to monetar y and f inancia l inst ruments v ia an easy-to-use inter face .

Possible use-cases of the GeoToken with this function:

∞ Launch a Reser ve token which takes the form of a d ig i ta l currency basket composed of 5 major f iat -currencies and 5 major cr ypto-currencies in the wor ld 7.

∞ Create a Green token that i s indexed on the pr ices of the bio-agr icul ture to contro l excess ive pr ice increases on products .

∞ A Socia l Progress token whose va lue i s based on the United Nat ion ’s Human Development Index to promote the r ights of protect ion

2. A MEASURING UNIT:

CAN

Unl ike other cr yptocurrencies which have a f ixed l imit of d iv i s ib i l i ty (E .g . : B i tcoin has a d iv is ib i l i ty up to 8 decimal p laces ) the GeoToken of fers unl imited d iv i s ib i l i ty with an unprecedented degree of accuracy (Refer Page 43 of the “Token Funct ion Mani festo” ) .

F rom a micro-economic perspect ive , hav ing access to an inf in i te ly d iv is ib le account ing unit wi l l enable users to change the scale of thei r economic and f inancia l operat ions . The inf in i tes imal measure wi l l be ver y useful to g ive economical measure for th ings that we are not able to measure today , such

7 This can be seen as an extension of Special Drawing Rights (SDR)s a form of international money, created by the International Monetary Fund (IMF), and defined as a weighted average of various convertible currencies.


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as in the micro-energy and big data f ie lds . Furthermore , being able to store microscopic quant i t ies of money reduces the incent ive to steal . As a resul t , the r i sk of thef t could be reduced.

From a macro-economic perspect ive , th is funct ion wi l l be useful to centra l banks looking for new regulator y inst ruments to contro l monetar y l iquidi ty and supply . This funct ion could be appl ied by a centra l bank to increase the purchas ing power of a populat ion in a developing countr y or create new local marketplaces without modi f y ing the monetar y base .


∞ The abi l i ty to create new account ing units by the inf in i tes imal d iv is ion of the token

∞ The abi l i ty to g ive a unique cr ypto-s ignature to each inf in i tes imal f ragment of the token

∞ The poss ib i l i ty to change the scale of operat ions for any local or regional actor

∞ The poss ib i l i ty of creat ing autonomous t rading spaces ( local and across geographies )

∞ A macroeconomic l iquidi ty- regulat ion inst rument for the centra l banks

∞ A lever to converge the interests of mult ip le economic actors

∞ Increased secur i ty of operat ions and depos i ts

∞ An abi l i ty to quant i f y intangible assets


∞ Convert large capita l amounts into inf in i tes imal money amounts in exchanges or s torage to reduce the incent ive to steal

∞ Creat ion of a mult i -scale monetar y management inst rument a l lowing centra l banks to manage the l iquidi ty of markets and adjust the level of supply and demand.

∞ Creat ion of complex evaluat ion inst ruments able to take into account the inf in i tes imal va lues and var iat ions attached to ICT.

∞ Div ide one token a b i l l ion t ime in order to permit t raceabi l i ty of one bi l l ion products in a supply chain organizat ion


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3. AN INTELLIGENT TRANSACTIONAL UNIT:

PAY

Today when t ransact ions are made, the currency funct ions as a va lue unit for the payment of ser v ices rendered. The currency and the ser v ice thus remain two separate ent i t ies . However , v ia Smart tokenizat ion , the GeoToken wi l l of fer us the poss ib i l i ty to overcome this separat ion .

The Money By Des ign Wal let i s a smart wal let that i s capable of encoding speci f ic uses of i t s token , based on pre-def ined parameters . Depending on where you are , what you want to do , when you want to do i t or the type of t ransact ion you want to per form, the Smart Wal let wi l l prov ide automated management of i t s tokens based on ru les prov ided by the user .

Hence , the tokens no longer p lay a pass ive ro le as s imple exchange unit . Instead, they become the bas is of a dynamic and inte l l igent t ransact ion system which can adapt to changing s i tuat ions thus a l lowing users to execute programmable t ransact ions with h igher purchas ing ef f ic iency.


∞ Increased divers i ty of va lue-exchange and va lue-shar ing models

∞ The poss ib i l i ty of creat ing new developments in real - t ime payment methods

∞ The abi l i ty to create automated management systems with a h igh level of granular i ty

∞ Create customized t ransact ions for ta i lored c l ient f idel i ty and loyal ty programs

∞ The poss ib i l i ty of creat ing t ransact ions that can automat ica l ly adhere to sovere ign or inst i tut ional regulat ions


∞ An automated maintenance system for autonomous cars . We can imagine an autonomous car with an integrated Smart Wal let that wi l l know where to go for certa in operat ions and a l locate tokens based on the type of t ransact ion (new parts , to l l - fee payments , etc .… )

∞ Automatic adjustment of a ser v ice tar i f f with a customer according to certa in cr i ter ia (example : bonus / malus for a bank of an insurance company)

∞ Creat ion of a ‘ v i r tuous ’ currency that automat ica l ly respects inst i tut ional regulat ions so as to avoid i ts use for i l legal act iv i t ies such as money launder ing , drug t raf f ick ing , etc .


17


4. A VALUE PRODUCTION INSTRUMENT:

PRD

The Blockchain of fers the poss ib i l i ty to authent icate any mater ia l or immater ia l asset . Unl ike prev ious communicat ion protocols of the web, which a l lowed the repl icat ion of any asset without l imits , the Blockchain prov ides us with a means to determine the uniqueness of an object and ensure the integr i ty of an asset ’ s va lue chain .

The Tokenizat ion of an asset – be i t a phys ica l object or a work of ar t – of fers us a means to encapsulate i ts va lue and monet ize i t v ia a token emiss ion . The GeoToken extends th is tokenizat ion abi l i ty to inst i tut ions and bus inesses by prov id ing them with the poss ib i l i ty of creat ing customized tokens .

A user wi l l be able to create a ta i lored token e i ther by se lect ing an ex ist ing funct ion of the GeoToken, or by combining mult ip le funct ions of the GeoToken, to create an or ig inal token customized to thei r needs . As th is repos i tor y of ta i lored funct ion-speci f ic tokens grows , new users jo in ing the network wi l l be able to p ick and choose a l ready ex ist ing tokens which they can adapt to thei r needs , or create new tokens that are combinat ions of the tokens that ex ist in the current repos i tor y 8.

By se lect ing a pre-ex ist ing funct ion or combining mult ip le funct ions of pre-ex ist ing tokens , inst i tut ions and actors who are interested in creat ing a customized token can do so , eas i ly , faster , cheaper and with lower technological development r i sks . This abi l i ty to leverage the ideas and funct ions of mult ip le tokens in a col lect ive manner , prov ides each user with a Smart Tokenizat ion Global Ser v ice .


∞ The abi l i ty to increase the l iquidi ty of phys ica l assets .

∞ The poss ib i l i ty to represent the real va lue of an asset

∞ To lower the ex ist ing barr ier of creat ing a customized token

∞ The chance to create a g lobal ecosystem where actors can develop and share advanced token funct ions .


∞ Al low indiv iduals to create tokens which wi l l permit them to monet ize thei r personal data , rather than lett ing thei r data be explo i ted by large organizat ions ( GAFA) with no compensat ion

∞ Al low a company to f inance i ts future expans ion v ia asset tokenizat ion rather than incurr ing debt with interest rate obl igat ions

∞ Prov ide a countr y with the means of tokeniz ing i ts natura l resources whi ls t prov ing them greater access to g lobal markets .

8 This choice to share the functions of a customized token is in the hands of the token creator.


18


5. A GUARANTEE INSTRUMENT:

GRT

Today , most tokens on the market and exchange plat forms are subject to speculat ive t rading which leads to h igh pr ice volat i l i ty .

To curb against speculat ive pr ice f luctuat ions , the GeoToken uses a mathematical formula that ca lculates i t pr ice based on two factors

– the number of users in the network and the number of t ransact ions being executed per month .

This mathematical pr ice ca lculat ion a lgor i thm is based on a adapted extens ion of Metcal fe ’ s Law. The reasoning for se lect ing Metcal fe ’ s Law can be found in the Appendix of th is white paper and the a lgor i thm can be seen in sect ion ‘MEET THE PRICE MANAGEMENT ALGORITHM’ of the paper .

Our pr imar y mot ivat ion for us ing th is method of token pr ice determinat ion i s that i t a l lows us to capture the t rue va lue of our network based on actual usage . As a resul t , the GeoToken prov ides users with a t rue va lue of i t s network which i s expressed in the form of a s table token pr ice . Hence i t acts as an inst rument of guarantee .

Going for ward , the Money By Des ign token pr ice calculat ion method can be prov ided as a ser v ice to other tokens who were looking for a so lut ion to reduce thei r pr ice volat i l i ty . Furthermore , th is method can be adapted to the factors or cr i ter ia that are most re levant thei r networks . Thus , the approach being used to determine the GeoTokens pr ice can a lso be adapted to other tokens .


∞ Stabi l i ty of token pr ice

∞ Curb speculat ive t rading

∞ A mult i -cr i ter ion pr ice-determinat ion a lgor i thm

∞ A consol idated ser v ice for pr ice stabi l izat ion


∞ Stabi l ize the pr ice of f inancia l products with a minimum rate of return v ia a programmable fund

∞ Create new token with reduced volat i l i ty and programmable growth cur ves


19


6.A CONTRACTUAL INSTRUMENT

LAW

As seen with the va lue product ion inst rument funct ion , users can create thei r own token customized funct ion-speci f ic token that use the intr ins ic funct ions of the GeoToken, or combinat ions of these funct ions . To ensure the legal va l id i ty of these newly created tokens , users a lso have the abi l i ty to choose the legal condit ions and integrate

them into the des ign of thei r token.

Inspi red by the Pr ivate Internat ional Law methodology , each token creator has the power to se lect the Attachment Laws that f rame the use of the token. Subject to the mandator y prov is ions of internat ional law and developments in the legal regime of cr yptocurrencies – such as commercia l contracts , f i sca l obl igat ions , KYC and ALM requirements , penal sanct ions , etc . , - the token creator has the abi l i ty to choose any nat ional or internat ional legal system to govern the token.

In a context of legal vacuum about Blockchains , Tokens and ICOs , i t i s becoming increas ingly important to g ive users the abi l i ty to independent ly choose the law they want to adhere to , based on where and how they expect to use the token they have des igned. By g iv ing users the abi l i ty to choose and encode the legal prov is ions of thei r t ransact ion , the Money by Des ign Blockchain could ensures protect ion of assets , leg i t imizat ion of f inancia l inst ruments , and safeguards the legal b inding of contracts . Furthermore , Money by Des ign prov ides users with a modus operandi to fo l low in order to legal ly s t ructure thei r ICO.


∞ User with the abi l i ty to f reely choose the c iv i l , commercia l , tax and cr iminal laws attached to thei r token operat ions

∞ Clar i f y and a id token creators to make the dist inct ion between Machine Code and Legal Code.

∞ Reinforce the Blockchain ’s secur i ty by prov id ing c i t izens the choice of vo luntar y adherence to legal pr inc iples , rather than forced obl igat ions .


∞ This funct ion – based on voluntar y choice of legal s t ructure – can prov ide a means of resolv ing many current VAT re lated problems, and of fer a so lut ion to f ight tax evas ion

∞ Creat ion of an inte l l igent currency that a l lows regulators to t rack the sa les f lows of secur i t ies , to better assess the r i sks of market fa i lure .

∞ Creat ion of an inte l l igent tutor ia l that a l lows token creators to fo l low a st ructured approach for launching ICOs or IPOs . This tutor ia l can


20


be introduced in any new token to help operators d ictate the laws of attachment or the technical deta i l s re lated to the launch of thei r token/monetar y operat ions .

7.A VOTING AND DECISIONAL INSTRUMENT:

Vox

The lack of governance which can be obser ved in most Publ ic Blockchains convinced us that a good Blockchain must necessar i ly of fer a decis ion-making tool to the community of users . The lack of governance , which can be obser ved in most Publ ic Blockchains , , convinced us that a good Blockchain must necessar i ly of fer a

decis ion-making tool to the community of users .

Money by Des ign of fers users a vot ing bal lot that maximizes the express ion of indiv iduals preference , whi ls t measur ing in a ver y precise manner the di f ferent nuances of thought , without reducing i t to a s imple binar y choice . You can see how i t works on the fo l lowing websi te : www.voxcracy.com. Also refer ‘Voxcracy ’s vot ing system’ in the Appendix .

This propr ietar y inst rument (developed by our parent company Voxcracy) , has been sc ient i f ica l ly va l idated by the French Atomic Energy Commiss ion and has been proved to respect Arrows Rat ional Cr i ter ion (Patent Pending 9) . Money by Des ign Blockchain thus prov ides i ts community of users with one of the best vot ing systems in the wor ld .

V ia th is vot ing inst rument , users of the Money by Des ign Blockchain , have the abi l i ty to part ic ipate and vote on future evolut ions of the GeoToken – be i t for technical changes , pr ice ca lculat ion updates or d ist r ibut ion r ights . Ever y holder , i r respect ive of how many GeoToken they own, i s therefore not just a spectator , but a contender who has a say in determining the evolut ion of thei r currency.


∞ A democrat ic currency that i s managed by i ts users .

∞ A powerful tool for measur ing col lect ive preferences

∞ A negot iat ing inst rument based on col lect ive inte l l igence

∞ Many appl icat ions concerning market ing and management of inst i tut ions


∞ A consultancy to tackle technical quest ions concerning the future of the Blockchain

∞ A means to obta in a pr ice consensus between producers , d is t r ibutors and consumers

9 The Patent reference can be found here : https://patents.google.com/patent/US20160239492A1/en?inventor=olivier+rocca&oq=olivier+rocca

https://patents.google.com/patent/US20160239492A1/en?inventor=olivier+rocca&oq=olivier+rocca

https://patents.google.com/patent/US20160239492A1/en?inventor=olivier+rocca&oq=olivier+rocca


21


∞ A secure e lectronic vot ing system that i s access ib le by ever yone , ever ywhere .

∞ A means to gauge changing customer preferences in real - t ime.


22


GEOTOKEN’S USER GUIDE

VAL

Sky

LAW Vox

GRT

PAYCAN

PRD

The mer i t of the Blockchain i s i t s abi l i ty to d ist r ibute power which unt i l now was in the hands of currency emitters and large inst i tut ions . The Money By Des ign Plat form augments th is d ist r ibut ive power of the Blockchain , by of fer ing a l l users a funct ional method of creat ing thei r own monetar y inst ruments .

With only seven features , the Money By Des ign Plat form prov ides users with the necessar y tools to bui ld a token or launch an ICO with minimal ef fort and cost . I t i s for th is reason that we def ine the GeoToken as a token of tokens , which wi l l ser ve as a fundamental architecture new token creat ion .

Our analys is of ex is t ing Monetar y inst ruments has led us to conclude that by fo l lowing a modular methodology , the seven funct ions of the GeoToken can be combined in var ious ways to create a d iverse range of customizable inst ruments , which are capable of chal lenging and augment ing the ex ist ing range of inst ruments .

FORM OF INTELLIGENCE DESIGNATION TYPE OF FREEDOM APPLICATION EXAMPLES

Monetary

IntelligenceG

Allows you to choosethe accounting unit

- To digitally reproduce the circulation of existing currencies (national currencies and cryptocurrencies) through a financial tracker that allows real-time access to all values. - To propose unlimited combinations of various currencies and indexes.

Financial

IntelligenceCAN Allows you to choose

the unit of measure

- To make the transition from micro-payments to nano-payments possible.- To create democratic and autonomous monetary spaces.

Transactional

IntelligencePAY Allows you to choose

the exchange model

To make back office operations more fluid and allow banks to provide CIB solutions via the token itself.-The ability for a non-token holder to obtain an GeoToken account via a transaction in real time.

Technological

IntelligencePRD Allows you to choose

the production type

-To make the unitary authentication of works of art possible, prevent duplication, and restore the value chain of creations. - To create evaluation and monetisation protocols for technologicalassets, and by extension, for goodwill.

Organisational

IntelligenceGRT Allows you to choose

the type of guarantee

-To scale up the Blockchain infrastructure so that it achieves a higher transaction volume than the Visa card.- To use circular exchange systems in order to provide maximum e-commerce growth.

Regulatory

IntelligenceLAW Allows you to choose

the rules of use

- In the absence of a regulatory framework to provide user with a regulatory legal framework which enables them to choose their own commercial, tax, civil or criminal law - To create ethical, ecological, societal and sustainable currencies.

Decision-Making

IntelligenceVox

Allows you to participate in collective choices

- To use the electronic payment infrastructures for secure electronic decisional system.- To introduce voting procedures that preferably allow people to express themselves on all propositions.

Monetary instrument

Payment instrument

Governance instrument

G


23


The idea behind th is modular method is therefore to of fer a l l users a complete nomenclature which wi l l enable them to c lear ly def ine , c lass i f y , compare and construct any f inancia l inst rument or operat ion . Hence , the modular method works as a knowledge inst rument which empowers customer choice and can lead to a more ef f ic ient market .

Whi le in the vast major i ty of cases , the use of the Blockchain has been reduced to an inst rument of payment and/or speculat ion , the GeoToken prov ides new monetar y features with in the same inter face that wi l l a l low users to save,

consume, produce, measure, market, monitor and vote .

I t i s for th is reason that we cal l the GeoToken an Augmented Currency .

Each new feature can be represented as an extra economic f reedom that i s g iven to the users to develop a more complete and enr iching use of thei r currency. By exerc is ing these new f reedoms, users wi l l be led to develop new economic , f inancia l and monetar y pract ices that wi l l lead to the creat ion of new ser v ices of fer ing .

To meet the needs of each appl icat ion , the GeoToken features can be used separate ly or combined together , depending on the level of complex i ty of the operat ions .

THE MODULAR METHOD

Below are a few examples of how di f ferent funct ions of the token can be combined in order to prov ide new bus iness models :

1 12-3 2-3 21-3 2

A system of buying water or local ly produced electr ic ity through a secure Blockchain : Us ing the inf in i tes imal measur ing unit funct ion of the GeoToken, a community that has the capacity to generate i ts own power (such as th is pro ject launched in Utrecht ) can now start developing a funct ioning a l ternat ive smart gr id that can be customized to the capacity and needs of the community .

Us ing the Money by Des ign Blockchain , the consumers can regulate thei r energy consumption according to a cont inuous pr ic ing model , in which they would inst ruct thei r domest ic manager – which i s a computer running an art i f ic ia l inte l l igence – to buy (or se l l ) local ly produced e lectr ic i ty when the pr ice i s the lowest (or the h ighest in case of co-generat ion) and responds to thei r demand prof i le .

By us ing the vot ing funct ion of the GeoToken, th is computer wi l l a lso be able to prov ide the community with the abi l i ty to part ic ipate in votes concerning the management of the resource , making i t poss ib le to cont inual ly improve the

https://www.sciencedirect.com/science/article/pii/S030626191730096X

https://www.sciencedirect.com/science/article/pii/S030626191730096X


24


dist r ibut ion tak ing into account a l l changes in the env i ronment .

Such a modular combinat ion of two of the funct ions of the GeoToken would thus prov ide a boost to making tangible local energy gr ids in which indiv iduals could make micro-payments , create energy credit and debit systems, loya l ty schemes and automated regulat ion to prov ide local areas with a funct ioning energy market .

2-3 2 22-3 2-31

Creating a new transportat ion solut ion: By combining the recent advances in the f ie ld of the Internet of Things a long with the Inte l l igent Transact ional Unit funct ion and the Inf in i tes imal Measur ing unit funct ion of the GeoToken, we can env isage the creat ion of a new transportat ion paradigm.

Smart cars would communicate with each other 9 v ia GPS and Wi-F i 10. By us ing the Money by Des ign Blockchain , users could l ink thei r payments systems to smart h ighways where the GPS would a l low the vehic les ’ s teer ing dev ice to choose routes , whi ls t the Inte l l igent Transact ional unit funct ion of the GeoToken would a l low for customizat ion of speci f ic cost preferences . Based on these parameters , the user could set in p lace micro-payments ta i lored to thei r dr iv ing routes and local geographies . As s tat i s t ica l data on t ravel and payment informat ion gets col lected and stat is t ica l ly analyzed, users wi l l be able to gain a more nuanced understanding of thei r t ravel opt ions v ia thei r data f rom these two interoperable networks .

2-3 2-31211 1-3 2

A Blockchain-based demater ia l ized telecommunicat ion and payment system

for enterpr ises: For smal l and medium s ized enterpr ises , the current s tate of a f fa i rs of the g lobal te lecommunicat ions market i s untenable . SME’s s t i l l have to deal with te legraphic t ransfers , payments by checks and stamped letters , a l l of which are cost ly , s low and prone to er ror . These costs , delays and errors a lso ef fect the operators who prov ide these ser v ices . With an 80% reduct ion in mai l , i t i s becoming increas ingly d i f f icul t for posta l ser v ices to mainta in thei r operat ions .

Combining the Smart Account ing Unit funct ion with the Guarantee Inst rument funct ion and the Legal Inst rument abi l i t ies of the GeoToken, we can env isage a tangible so lut ion in which SME’s wi l l be able to use the Money By Des ign Blockchain to make payments across geographies or currencies , us ing a stable unit of exchange and respect the regulat ions of the ter r i tor ies in which they

9 Refer ‘Car to Car communication’ (MIT Tech Review) https://www.technologyreview.com/s/534981/car-to-car-communication/ 10 Refer ‘Performance of Vehicle-to-Vehicle Communication using IEEE 802.11p in Vehicular Ad-hoc Network Environment’ (Khairnar et. al) - https://arxiv.org/pdf/1304.3357.pdf

https://www.technologyreview.com/s/534981/car-to-car-communication/

https://arxiv.org/pdf/1304.3357.pdf


25


t rade with fu l l t ransparency. A smart contract that can embody the customized requirements of these parameters adds e lements of automat ion and cost-reduct ion to th is mix .

2-3 2 2-31 1 11

A Trust Fund that can manage an inher itance over a very long per iod : Us ing the Smart Unit of Account funct ion of the GeoToken a long with a Smart Contract , we can manage the f inancia l assets of a Trust Fund by counteract ing against market and currency volat i l i ty .

The advantage of th is programmable unit of account would be to a l low the des igner of the fund to fu l ly contro l the management ru les that apply to f inancia l assets . The automat ic execut ion done by a Smart Contract would be a per formance guarantee of the testamentar y d ispos i t ion and could even include an automated search system for r ights holders - in case of ident i ty ver i f icat ion . The advantage of such a system is that i t would a l low for automated management of the funds ’ assets over a ver y long term.


26


THE MARKET:

Money by Des ign presents i tse l f as a ser v ice prov ider of Smart Tokenisat ion for large inst i tut ions such as banks , insurance companies , companies , governments , associat ions .

Smart Tokenizat ion act iv it ies can is subdivided into 3 branches:

∞ Monetary : the abi l i ty to create dynamic and inte l l igent cr yptocurrencies to carr y out complex operat ions .

∞ Financial : the abi l i ty to monet ize and authent icate assets on the Blockchain to f inance diverse act iv i t ies and needs .

∞ Economic : the abi l i ty to evaluate technological assets and create a stock exchange in which the Blockchain acts as a t rading inst rument

In recent t imes the growth of specia l ized tokens has led to the creat ion of the term Smart Tokenizat ion which f inancia l analysts today refer to as the Smart Transact ion Market .

This market d i f fers f rom that of b ig data and art i f ic ia l inte l l igence markets as i t i s based on a l ready ex ist ing market e lements : The money market , The f inancing market and The technology asset market .

FINANCING

MARKET

MONEY

MARKET

TECHNOLOGY

ASSET

MARKET

The novelty of the inte l l igent t ransact ional market i s that i t a l lows us to uni f y these 3 markets that unt i l now were separated .

In a wor ld where dig i t izat ion and demater ia l izat ion i s a rea l i ty , the uni f icat ion of these markets v ia the Blockchain i s creat ing a common Smart Transact ion Market in which a l l operat ions of monetar y creat ion , f inancing and technological asset va luat ion , become funct ional i t ies .

The potent ia l turnover of th is Smart Transact ional Market i s cons iderable s ince the 3 markets for f inancing , monetar y and technological assets are a l ready the 3 most important markets in the wor ld today.

https://token.io/news/what-is-smart-tokenization

https://www.statista.com/statistics/254266/global-big-data-market-forecast/

https://www.statista.com/statistics/607716/worldwide-artificial-intelligence-market-revenues/


27


The t ransact ional market of currencies has a substant ia l market potent ia l

Comparison of global transactional market (USD T)

75

200200

1 000

GDP Investments Funding Transactions

GDP: Global estimate - Source WikipediaFunding: Estimation of global funding amounts in 2014 - Source: McKinsey Transactions: Estimation of the world market in trillions of US dollars per year - Source: SWIFT Investments: Estimation of the balance of «global accounts» in the active / passive level

Potential market for intelligent cryptocurrencies

Est

imat

ed n

um

ber

of

use

rs

(i

n b

illio

ns)

Years

2

2 3 4

1

10

0

Estimated number of users

FORECAST EXAMPLES OF SMART TOKENIZATION

∞ Creat ion of a DAO in the Money By Des ign Blockchain that guarantees t ransparency , incorrupt ib i l i ty , absence of f raud, and prov ides vot ing tools to the community .

∞ Financing the development of an onl ine encyclopedia by i ssu ing a certa in volume of tokens that i s representat ive of the encyclopedia ’s reputat ion and act ive number of users .

∞ Implementat ion of a system with automated pr ic ing of f inancia l products dr iven by an art i f ic ia l inte l l igence embedded in Money by Des ign network .

∞ Creat ion of an or ig inal currency basket with a mixed composi t ion of EUR/BTC ( for example) , which can prov ide an insurance f i rm with a programmable fund.

∞ Electr ic power purchase system based on an automated real - t ime auct ion procedure in which pr ices take into energy consumption usage t rends .

∞ A value t ransfer tokenizat ion system based on a basket of two cr ypto-currencies and two f iat currencies , that a l lows an internat ional company to put an end to i ts internal invoic ing system by replac ing i t with a d ig i ta l c lear ing system that e l iminates exchange and l iquidi ty r i sks .

∞ Cultura l her i tage refurbishment funding through the va luat ion and tokenizat ion of a Middle-Age monument which no one can or wi l l fund.

estimation based on countries population and large institutions potentially using GeoTokens in the future.


28


USERS AND USAGES

SECTOR USE

PrivateReal estate, electricity, taxes, water, telephone, transport, food, recreation, travel, energy, culture, art, sports, society, hospitality, partnerships, projects, entrepreneurship, community, voting, politics...

Company Cash management, employees, profit-sharing, debt, funding…

Banking / Insurance Tokenization, monetisation, savings, insurance, investments…

Governments / InstituionsTaxation, financing, creating new markets surveillance, marketn efficiency…Macro-economic instruments…

AssociationsInstruments for sustainable development, universal dividends, humanitarian project funding, solidarity and social economic development…

GEOTOKEN VALUATION RULES

Unl ike most f iat and cr yptocurrencies , the va luat ion of the Geo Token is not based sole ly on i ts exchange va lue , but mainly on i ts use va lue .

The Geo token is a programmable cr yptocurrency that has the abi l i ty to se l f -determine i ts own pr ice according to va luat ion ru les known f rom i ts launch, which wi l l a l low investors to make more informed analyses and market predict ions .

The Geo token can be cons idered as a network va lue token, whose va lue i s determined by an a lgor i thm whose ru les known to a l l . I t i s one of the rare tokens that of fers investors a mathematical ru le of predict ive va lue calculat ion .

The two main valuat ion rules of the GeoToken are:

1 . Social valuat ion: The Socia l Valuat ion i s based on the number of users of the GeoToken. Us ing Metcal fe ’ s law (Refer Appendix – Reasoning for se lect ing Metcal fe ’ s Law) , which states that the va lue of a network i s a growth funct ion that i s equal to the square of the number of part ic ipants , we cons ider that the calculat ion of the network ’s va lue i s proport ional to the number of unique users accounts .

2. Economic valuat ion: The Economic Valuat ion of the GeoToken is based on the volume of t ransact ions that occur on the Money By Des ign network . As the GeoToken of fers a mult i tude of funct ions that can be recombined, i t of fers the potent ia l of creat ing mult ip le types of t rans i t ions . Hence , i f ever y funct ion of the GeoToken is cons idered a technological asset , then the economical va luat ion wi l l take into cons iderat ion , the intens i ty and divers i ty of thei r ut i l izat ion , which wi l l be represented in the volume of t ransact ions .

Therefore , the GeoToken’s reference pr ice i s proport ional to the sum of the socia l va lue and the economic va lue . In a way , we can conclude that the GeoToken ‘ s pr ice indicates the level of soc ia l and economic development of the pro ject at


29


a g iven t ime, ‘T ’ . Th is indicator i s ver y important to g ive investors an object ive evaluat ion of the socia l and economic assets independent of pr ice f luctuat ions at a l l t imes .

Throughout the durat ion of the ICO, the pr ice of the GeoToken wi l l be f ixed at 1 eurocent which corresponds to i ts nominal va lue at the t ime of launch. Upon complet ion of Money by Des ign Blockchain ( refer the dates in the ICO speci f icat ions sect ion) , the GeoToken’s va luat ion formula wi l l become act ive and wi l l take into cons iderat ion the number of users and the t ransact ion volume From that point on , the GeoToken’s va lue wi l l begin to evolve according to the state of soc ia l and economic development of the Money by Des ign global exchange network .

Metcal fe ’ s Formula represents the maximum value of the network ’s use which prov ides us with a token pr ice that cannot be surpassed . I r respect ive of the pr ice f luctuat ions l inked to number of t ransact ions , Metcal fe ’ s law therefore prov ides with a l imit which funct ions as a contro l parameter for an automat ic a lgor i thm. As a resul t an a lgor i thm that i s based on Metcal fe ’ s Law can funct ions as a pr ice governance mechanism.

PRICE MANAGEMENT ALGORITHM:

The mathematical formula that i s the bas is for ca lculat ing the GeoToken’s pr ice , i s based on 3 pr imar y factors :

1 . The Social Value of the Network

2. The Economical Value of the Network

3 . The Quantitat ive def init ion of an Active User.

1 . The Social Value of the Network:

As per Metcal fe ’ s Law, the va lue of a network i s proport ional the square of the number of users . As per Metcal fe :

Vn = N . (N-1)

Vn ∞ N 2

Vn =a * N ²

▶ In which n i s the number of users ,

▶ Vn i s the GeoToken va lue for n users , and

▶ a i s a coef f ic ient that needs to be calculated .


30


Prior to enter ing more detai ls of the calculat ion, i t is important to note, that

this valuat ion method:

∞ Decorre lates the pr ice of the GeoToken f rom speculat ive market movements and manipulat ions that can of ten be encountered on exchange plat forms

∞ Offer the investor a ca lculable growth model , that wi l l permit them to better est imate thei r ga ins / losses .

∞ Offer the investor a ca lculable growth model based on real soc ia l and economic data .

2. The Economic Value of the Network:

While Metcal fe ’ s law a l lows us to determine the va lue of the network and the pr ice of the GeoToken as a consequence , th is does not mean that i t ser ves as means of ensur ing the exchange of the token. For example i f the pr ice i s too h igh , users may not be able to se l l the GeoToken which could block any future t ransact ions . Hence , Metcal fe ’ s Law is unable to manage the l iquidi ty of the GeoToken.

The formula for economic va lue of the network acts as a l iquidi ty manager and is based on a corre lat ion between the Pr ice of the GeoToken and the Volume of Transact ions on the Money by Des ign network .

I f the number of t ransact ions begins to stagnate/goes down too rapidly , then the a lgor i thm reacts to th is s i tuat ion by lower ing the pr ice of the GeoToken in order spur t ransact ions .

I f the number of t ransact ions begins to accelerate too rapidly , then the a lgor i thm reacts to th is s i tuat ion by increas ing the pr ice of the GeoToken in order to return to an opt imum pr ice which wi l l be c loser to Metcal fe ’ s va lue .

GTPrice=α[,][, −1] +

⎣⎢⎢⎢⎡4 ∗ α[,][,− 1] ∗678 (0;

<1 − =>?@∑ (BC>BDEFGDEFH∈[JKLMN(H)PJ(QRST)] )UV

<1 + =>?@∑ (BC>BDEFGDEFH∈[JKLMN(H)PJ(QRST)] UV)

⎦⎥⎥⎥⎤

The GeoToken ( GTK) Pr ice (expressed in euro for the t ime being) i s based on Metcal fe ’ s law, and cons iders the current methods of network va luat ion . In the formula above :

["][" − 1] Metcal fe Law; where ∝ : i s a coef f ic ient factor that funct ions as a proport ional i ty constant . The va lue of wi l l be calculated based on the average va luat ion of key ex ist ing commercia l , soc ia l , and technical networks .


31


+

⎣⎢⎢⎢⎡% ∗ α[)][) − 1] ∗ -./(0;

41 − 5678∑ (:;6:<=>?<=>@∈[BCDEF(@)HB(IJKL)] )MN

41 +5678∑ (:;6:<=>?<=>@∈[BCDEF(@)HB(IJKL)] MN)

⎦⎥⎥⎥⎤

The factor above i s a l iquidi ty funct ion that wi l l enable the adjustment of the GeoToken’s pr ices to l iquidi ty constra ints on the market .

The reference pr ice wi l l be based on an adjusted form of Metcal fe ’ s Law. We use a hyperbol ic tangent funct ion of the volume of the market , balanced by the number of users on the market , where Tanh(x )= "#$%

&(()*"#+%&(()*

acts as an adjustment parameter .

Th is adjusted parameter enables adaptat ion of the GeoToken’s pr ice to the l iquidi ty market .

! : Beta represents the boundar y parameters of the potent ia l geo pr ice adjustment .

The va lue of Beta wi l l be def ined as 10% ( 10% of token market capita l izat ion) . This va lue has been def ined with former t radit ional market t raders f rom reference banks and hedge funds , as a va lue which wi l l c reate suf f ic ient l iquidi ty for the token sa les , enough volat i l i ty for l iquidi ty market makers by respect ing a l imited & “healthy” vo lat i l i ty , without creat ing va lue destruct ion for medium term investment . A synthet ic v iew of the va lue of 10% could be , at any t ime, you wi l l have the capabi l i ty to deal with at least 1 token holder on 10 , which i s cons idered on the t radit ional g lobal markets as a fa i r va lue , that don’ t create too much arbi t rat ion , by enabl ing market l iquidi ty prov ider to be act ive .

Hence , - α*$ wil l be the maximum pr ice adjustment factor for Geo Pr ice decrease .


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This adjustment factor wi l l be contro l led by the evolut ion on the Volume per users on the network , V i , over the reference rat io Vref on a per iod of T ime ["#$%&())− "(,-./)] where T (Spot ) i s the present t ime and TRand( i ) i s a t ime in the past with a maximum of [X] months def ined by a random funct ion . The random process wi l l c reate a t iny vo lat i l i ty on the pr ice that wi l l be used to avoid t rading arbi t rat ion , i t could be cons idered as a t rade arbi t rat ion tool .

! factor wi l l enable to the l iquidi ty factor to have a quick or a more progress ive impact depending on the volume and l iquidi ty on the market .

These parameters α#$ wil l be def ined by dur ing the model l ing depending on the phys ica l rea l i ty of the GeoToken market . Any adjustments wi l l be made publ ic to the community .

3. The Quantitat ive def init ion of an Active User:

Each of the two formulas for ca lculat ing the token pr ice u l t imately re l ies on the act iv i ty of each user in the Money by Des ign network . I t i s therefore necessar y to propose a quant i tat ive def in i t ion of an act ive user .

∞ First def init ion: an act ive user i s a natura l or legal person with a unique address who downloads a Money by Des ign Wal let to make a minimum deposi t of 100 euros .

This def in i t ion makes i t poss ib le to ca lculate the Socia l Value funct ion of on Metcal fe ’ s law.

∞ Second def init ion: an act ive user i s a GeoToken exchange community member . The sum of a l l indiv idual exchanges must exceed 10% of the GeoToken’s market cap .

This def in i t ion makes i t poss ib le to ca lculate the Economic Value funct ion of Metcal fe ’ s Law.

Note : the a lgor i thm only funct ions as a counter of user act iv i ty / inact iv i ty . I t does not have any impact on the opening or c los ing of accounts on the network . I t ser ves as an account ing tool of the currency ’s va lue in corre lat ion with the networks g lobal act iv i ty .

In conclus ion , the management of the pr ice of the GeoToken can develop a real pol icy of mot ivat ion and animat ion of act ive users . For investors , such an approach wi l l encourage them to become act ive users s ince the va lue of thei r tokens depends on i t .


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GEOTOKEN INFORMATION + PRICE ALGORITHM = TRANSPARENCY

In order to ensure a t ransparent market , the Money By Des ign plat form informs the ent i re investor community in real t ime on 3 account ing data points :

1 . The number of tokens i ssued,

2. The number of users (unique addresses )

3. The reference pr ice re lated to Metcal fe ’ s law.

The t racking of these data points i s governed by a smart contract to prov ide ver i f ied , rea l t ime and tamper-proof informat ion . In th is way , the smart contract wi l l act as an internal processor that prov ides the investor community with accurate informat ion on the token’s pr ice and the network ’s va lue , thus protect ing them f rom mis informat ion and manipulat ion . Thus , the Money By Des ign plat form prov ides the means to funct ion as a d ig i ta l money market that i s both informat ive and informed.

To achieve th is object ive , i t wi l l be necessar y to move beyond indiv idual pr ice sett ing pract ices and adopt a col lect ive pr ice management mechanism. In th is sense , the GeoToken’s mult i -cr i ter ia a lgor i thm for col lect ive pr ice determinat ion , i s comparable to what Uber i s current ly doing to set the pr ice that dr ivers can charge v ia mult ip le parameters ( Chen et a l . , 2015) .

Us ing a smart contract to govern GeoToken’s purchases and sa les wi l l ensure pr ice homogeneity and wi l l assure a l l economic agents with ver i f iable informat ion thus reducing the commiss ions that are current ly charged on exchange plat forms .

The abi l i ty to make future t rades of the GeoToken to best meet market supply and demand is therefore ca lculated through the stabi l i ty of GeoToken pr ices . Money By Des ign does not intend to create a token that can be used for t rades on external markets and c lass ica l exchange plat forms . Rather , Money by Des ign a ims to att ract investors-users because of our token ’s funct ional i t ies and f inancia l ser v ices and wi l l develop i ts own exchange plat form.

F inal ly , in order to better manage the evolut ion of the GeoToken’s pr ice and balance the purchase and sa le orders of the tokens over t ime, Money by Des ign a ims to establ i sh a Cooperat ive Society of Col lect ive Interest (SCIC) ( refer the sect ion Legal St ructure for more deta i l s on th is SCIC) , which wi l l monitor the pr ice management a lgor i thms funct ioning . This Cooperat ive a lso reser ves the r ight to modi f y the parameters of the formula , at any t ime, in order to take into account the real i ty of the market . Ever y change made wi l l be publ ished on the Money By Des ign network to bolster t ransparency.

https://www.ftc.gov/system/files/documents/public_comments/2015/09/00011-97592.pdf


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WHY DO WE NEED TO MANAGE TOKEN LIQUIDITY ?

The level of l iquidi ty of a currency i s an essent ia l cr i ter ion of pr ice stabi l i ty , va lue access ib i l i ty and market dynamism. In centra l ized systems (as seen in banks and f inancia l inst i tut ions) , l iquidi ty i s determined by a centra l author i ty based on a set of cr i ter ia and object ives .

However , in a decentra l ized system, l iquidi ty management cannot be done in the same way. This i s a centra l i ssue for economic and socia l actors who want to use a Blockchain , as they need have some assurance that they are able to buy and se l l thei r assets without loss f rom depreciated va lue .

Histor ica l ly , monetar y l iquidi ty management pol ic ies have been based on the bui ld ing of exchange reser ves and the use of counterpart ies . These pol ic ies have had l imited success against speculat ive attacks and the inc ident of Black Wednesday i s a mani festat ion of th is l imitat ion .

Whether the actor per forming th is type of management pol icy i s a i s a centra l bank , a commercia l bank or a large company , the ef fect i s the same, as the market wi l l systemat ica l ly t r y to manipulate the exchange rate In order to se ize or d ivert reser ves towards unwanted purposes .

More recent ly with the Blockchain , the Bancor protocol t r ied to create a pol icy of decentra l ized management of l iquidi ty of thei r new tokens based on forex reser ves . In spi te of successfu l ICO ( Quartz , 2017) , i t was seen that such a system has ver y l imited abi l i ty to protect the va lue of the token especia l ly when turbulent changes in the market 11.

The key learning takeaway f rom these exper iences i s that in a decentra l ized system, the l iquidi ty of new tokens cannot be based on a pol icy of reser ves .

In spi te of these l imitat ions , recent token sa les cont inue to use reser ves as a token pr ice volat i l i ty ant idote or as an inst rument against speculat ion . Case in point – in the forthcoming TELEGRAM ICO, the whitepaper deta i l s that 52% of the funds col lected wi l l be stored as a reser ve and devoted to “ to protect the nascent cr yptocurrency f rom speculat ive t rading and to mainta in f lex ib i l i ty at the ear ly s tages of the evolut ion of the system” . (Refer Page 16 of Te legram ICO WhitePaper ) . Whi le the intent ion of th is move may be curb speculat ive r i sks , i t of fers no protect ion against speculat ion .

Another approach of ten used to stabi l ize the pr ice of currencies and tokens i s to back them up with some under ly ing ‘ s table ’ asset such as gold or o i l s tocks (E .g . : F lashmoni , OZcoinGold , etc . ) This c lass ica l approach is of ten used in pr ivate backing and wealth management to reassure investors and prov ide them with the bel ief that thei r assets wi l l remain res i l ient and stable in face of external shocks .

11 Refer ‘Bancor Is Flawed’ by Emin Gün Sirer (http://hackingdistributed.com/2017/06/19/bancor-is-flawed/)

https://www.theguardian.com/business/2012/sep/13/black-wednesday-20-years-pound-erm

https://www.theguardian.com/business/2012/sep/13/black-wednesday-20-years-pound-erm

https://about.bancor.network/protocol

https://qz.com/1004892/the-bancor-ico-just-raised-153-million-on-ethereum-in-three-hours/

http://hackingdistributed.com/2017/06/19/bancor-is-flawed/


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However , the pr ice volat i l i ty of these under ly ing assets – e .g . :gold and petro l – i s of ten s igni f icant and unpredictable , even resembl ing , at t imes , the same volat i l i ty seen in cr yptocurrency markets . Even worse , when a token is indexed to such assets , then the volat i l i ty of asset ampl i f ies the volat i l i ty of the token, creat ing a compound ef fect that reduces the va lue of the token even further . To make matters worse , in case the Token issuer goes bankrupt or i f the indexed token loses va lue rapidly , there i s no guarantee that the holder of the tokens wi l l be able to redeem his holdings in the form of gold or petro leum stock . We can therefore conclude that such a seemingly “ safe” so lut ions of fers l imited secur i ty .

Last ly , one approach that has seemingly captured the interest of the investor community in recent t imes , i s to pursue those tokens whose pr ice has an equal par i ty with a f iat currency. In th is approach any token issued has an equiva lent dol lar or euro counterpart held in reser ve (Eg : Tether ) . Whi le th is approach may of fer a certa in stabi l i ty of the tokens pr ice , i t generates no added va lue to investors as the money held in reser ve i s s tat ic , prov ides no growth or income generat ing opportunit ies to the investor and cannot be used for any purpose .

We can thus summarize that :

∞ Reserves : Does not prevent speculat ion

∞ Asset backing : Does not prevent vo lat i l i ty

∞ 1-to-1 Par ity : Does not br ing any growth

It i s for these reasons , that the so lut ion proposed by Money by Des ign uses the att r ibutes of the network combined with the number of act ive users and the pr ice management a lgor i thm.


36


ISSUANCE OF NEW TOKENS AND FUNDING:

Regarding new tokens i ssues , i t should be understood that the Money By Des ign features are attached to the Money By Des ign network and not to the GeoToken.

This leads us to d ist inguish two stages of the networks development :

1 . Launch of GEOTOKEN:

The GeoToken’s emitted dur ing in the ICO wi l l be used to create and animate the Money By Des ign Blockchain . I t s pr ice wi l l be corre lated with the general va lue of the network . This genera l va lue i s based on the genera l economic act iv i ty of the network and i ts att ract iveness measured by the number of users .

In th is perspect ive , the Money by Des ign smart tokenizat ion act iv i ty i s a rea l vector of development because i t a l lows any economic , soc ia l or pol i t ica l actor to access the most advanced features of the cr yptocurrency without thei r hav ing to make s igni f icant investments in terms of in f rast ructure .

G iven i ts technical character is t ics , in part icular i t s decentra l ized nature and i ts method of consensus based on Proof of Author i ty in which inst i tut ions act as author i ty nodes a l lowing them to exerc ise contro l over the act iv i ty of thei r network , Money By Des ign presents i tse l f as a so l id technical so lut ion for d iverse inst i tut ional actors ranging f rom the automobi le industr y , banking , mar i t ime t ransport networks , supply chain or cul tura l industr ies to state administ rat ions .

The GeoToken is i ssued for 1ct in i ssue pr ice for the launch of the ICO. The tota l amount of the f inancia l goal of the col lect ion i s 300 Mi l l ion Euros , which means that i f th is amount i s co l lected , Money By Des ign wi l l have i ssued 30 Bi l l ion GeoTokens .

2. Issue of new tokens

Fol lowing the ICO, the buyers of GeoTokens wi l l then have access to a Blockchain which prov ides them with a customizable token that prov ides seven integra l features . As the network grows and users create thei r own specia l ized tokens , the Money By Des ign Blockchain stand to become a base where users can buy , se l l or produce thei r own customized token, the uses of which are only bound by imaginat ion .

This approach has many advantages such as :

∞ Any actor can re lease a new token on Money By Des ign

∞ New tokens are attached to the Money By Des ign Blockchain

∞ The Money By Des ign network i s agnost ic and guarantees tota l neutra l i ty


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∞ Each new token accesses Money By Des ign network features

∞ The di f ferent tokens generated on the network are technical ly interoperable

∞ Each tokenisat ion i s d ist inct which l imits the r i sk of operat ions

∞ The Money By Des ign network of fers a va luat ion ser v ice for tangible and intangible assets used as a bas is for monet izat ion v ia the tokenizat ion operat ion

∞ The Money By Des ign network of fers a t rading p lat form to fac i l i tate the exchange and convers ion between a l l the tokens generated in the Money By Des ign Blockchain

CONVERTIBILITY OF TOKENS AND PURCHASING POWER

Some cr i t ics say that most tokens that have been introduced to the market have ver y l imited usabi l i ty , especia l ly f rom the perspect ive of inst i tut ions . I t i s t rue that the Bi tcoin , i s s tart ing to be used in some bus inesses , but th is use i s ver y l imited . Furthermore , the other inf rast ructura l tokens (Ether , R ipple , etc . . ) , cannot be used to d i rect ly purchase products and ser v ices in a f iat dominant economy.

Such a l imitat ion of purchas ing power i s problemat ic for a tokens l iquidi ty . By condemning tokens to be t raded only on t rading p lat forms , speculat ion i s s t rongly encouraged. Therefore , a token that would develop the ambit ion to of fer a t rue technical funct ion as an inst rument of exchange in the rea l economy would undoubtedly open a new era in the h istor y of the Blockchain . This the GeoToken’s ambit ion .

To achieve th is ambit ion , we prov ide our users with three so lut ions that wi l l ensure that thei r GeoTokens can be used in the real wor ld :

1 . Portabi l i ty of account:

Via the Money by Des ign Blockchain , users wi l l be able to make payments with indiv iduals and part ies who are not on the network/do not have a GeoToken wal let , v ia a s imple process :

∞ When a user meets a product or ser v ice prov ider who is wi l l ing to accept GeoTokens as a form of payment , they ask the payment receiver for some ident i f y ing deta i l s (phone number , account number , etc . . )

∞ The payment sum is then held in a temporar y account a l located to the receiver

∞ When the receiver va l idates h is account , v ia a KYC process , thei r account


38


i s created on the Money by Des ign network and they wi l l be able to access thei r GeoTokens .

2.Digital shopping vouchers:

The pr inc iple of d ig i ta l vouchers cons ists of i ssu ing a categor y of speci f ic tokens that wi l l ser ve as a means of payment in a speci f ic bus iness , and under condit ions def ined in a smart contract . This makes i t poss ib le to create interest ing c i rcui ts of exchange between mult ip le actors who do not necessar i ly have the vocat ion to meet – e .g . : d iscount vouchers or f idel i ty points .

Dig i ta l vouchers can be managed di rect ly f rom a wal let and a l low an organizat ion to reta in i t s customers through speci f ic tokens re lated to d i f ferent t imes of the year , such as year-end balances or vacat ions . . Smart shopping vouchers of fer a mult i tude of tota l ly new bus iness animat ion programs compared to t radit ional paper-only shopping vouchers

3.Bui lt- in currency convertor :

The introduct ion of an integrated converter repl icat ing market pr ice ’s i s an interest ing feature as i t a l lows holders of GeoTokens the l iberty of exchanging with any f iat currency anywhere in the wor ld . This lubr icates the t ransact ions across geographies , as we are no longer confronted with the hass le of convert ing our tokens into an acceptance currency. Buyers and Sel lers are thus both l iberated .

In order to implement th is rea l - t ime convert ib i l i ty of the GeoToken, the Cooperat ive Society of Col lect ive Interest (SCIC) Money by Des ign wi l l ca l l on specia l ized operators of two k inds :

∞ Operators hav ing proved thei r worth in the f ie ld of the convers ion of rea l - t ime currencies ,

∞ Operators able to offer solutions in terms of contractual mean of payment.

∞ For th is second categor y , Money by Des ign wants to d ivers i f y i t s d ist r ibut ion channels into at least two di f ferent forms :

∞ Operators able to ensure the convert ib i l i ty and the t ransfer d i rect ly to a bank account ,

∞ Operators able to ensure the convert ib i l i ty and t ransfer d i rect ly to a speci f ic payment card .

For th is second categor y of actors , a r igorous se lect ion procedure needs to be in place , so as to ensure compl iance with a number of technical , e lectronic and legis lat ive references that wi l l achieve maximum secur i ty in the use of these new generat ion payment cards and mult i -currency.


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DIFFERENT WAYS TO SELL GEOTOKEN

For an investor , there are three main ways to ex i t the GeoToken. The ca lculat ion of the return on investment depends on the arbi t rat ions made on each of these modes :

TYPE OF OPERATION REALIZATION VALUE

Token issuance Smart contractReference Price based on

Metcalfe’s Law

Token exchange Smart contractReference Price based on

Metcalfe’s Law

Purchase by token Smart contractReference Price based on

Metcalfe’s Law

We see through this table that investors have three ways to recover thei r money :

∞ by se l l ing a l l or part of thei r tokens in a tokenizat ion operat ion ( ICO) ,

∞ exchanging a l l or part of thei r tokens against other tokens or against currencies on the exchange market ,

∞ convert ing a l l or part of thei r tokens into an act of purchase and consumption for the real market of goods and ser v ices .

1 . Purchasing and Sel l ing the GeoToken are governed by two types of orders:

▶ First order book: Time management of orders .

The natura l management of order books for GeoToken sa les orders i s based on the order regist rat ion per iod . The f i r s t order inscr ibed, i s the f i r s t order t reated regardless of the amount to be t reated . This management of order books i s therefore ver y d i f ferent f rom that of Ethers and bi tcoins in which miners deal pr imar i ly with the most important t ransact ions .

▶ Second order book: Pr ior ity management of orders .

Along with the f i r s t type of orders , a second order book wi l l be establ i shed in which the pr ior i t izat ion i s based on the level of d iscount that each agent i s wi l l ing to g ive in order for thei r sa les order to be processed f i r s t . This l iquidi ty premium wi l l therefore const i tute a compet i t ive order for the t reatment of se l l orders , which wi l l make i t poss ib le to t reat certa in ass ignments as a pr ior i ty , without af fect ing the reference pr ice of GeoToken.

S ince a l l GeoToken disposals are in i t ia l ly processed at the same pr ice - which i s the pr ice of the reference pr ice - the use of a l iquidi ty premium al lows the creat ion of a pr ior i ty sa les management system. In other words , the acceptance


40


of a d iscount leads to a deter iorat ion of l iquidi ty in terms of asset pr ices but to an improvement in l iquidi ty in terms of speed of execut ion .

Al lowing economic agents to choose between these two modes of rea l izat ion with di f ferent r i sks - one temporal and the other of quotat ion - const i tutes a f reedom that can part ic ipate in the f lu id i ty of the market and open interest ing perspect ives .

2. GeoToken exchanges are managed independently in the Money by Design

network:

To a l low a l l economic agents to exchange GeoTokens based sole ly on the reference pr ice calculated by i ts a lgor i thm, Money by Des ign voluntar i ly chooses not to register the GeoToken on external exchange plat forms .

The Money by Des ign network wi l l have i ts own exchange plat form that could be managed by a cr ypto-bank (which needs to be se lected) . This p lat form wi l l have a dual or ientat ion :

∞ I t wi l l work internal ly to organize the exchange between a l l the tokens i ssued f rom the Money by Des ign network in i ts genera l bus iness of smart tokenizat ion to meet the l iquidi ty needs of i t s customers

∞ I t wi l l work external ly to organize the exchange between the GeoToken and a l l f iat and cr yptocurrencies of the external market .

I t i s important to note that in order to mainta in a l l the credibi l i ty of GeoToken’s va luable e lements , the Money by Des ign network ’s exchange plat form wi l l be managed by an independent and dist inct legal s t ructure of the Cooperat ive Interest Society (Refer LEGAL STRUCTURE) .

The interest of th is internal management of the exchanges i s to a l low the GeoToken to be de-corre lated of the movements of the market and the speculat ion .


41


BUSINESS MODEL OF THE PROJECT

∞ The income model of Money by Des ign i s based on the speci f ic act iv i ty of smart tokenizat ion :

∞

Product ion and sa le of new tokens

Exchange commiss ions with other tokens

Advice and t ra in ing on tokenizat ion miss ions

The income model of Money By Des ign i s a lso based on the explo i tat ion of i t s technical inf rast ructure :

∞

L icense agreements to access certa in features of the Money By Des ign

blockchain

Development of industr ia l appl icat ions based on the Money By

Des ign blockchain

Concess ions on the use of author i ty nodes in the Money By Des ign

blockchain

The income model of Money By Des ign i s based on the explo i tat ion of i t s funct ional d i rector y :

Creat ion of qual i ty labels and standards for new tokens

Annual subscr ipt ion of the members of the cooperat ive society of

col lect ive interest

Sale of locat ions and advert i sements in the funct ional b lockchains

d i rector y

The turnover of the Cooperat ive Society of General Interest (SCIC) which operates the Money By Des ign blockchain wi l l be cert i f ied by a Chartered Accountant and by an Approved Management Center and publ ished each year to inform the market of the economic development of the pro ject .


42


PRODUCT DEVELOPMENT STRATEGY

To achieve i ts bus iness object ives , Money by Des ign i s developing a ser v ice of fer ing based on the inte l l igent tokenizat ion of ent i re sectors of the economy , a imed at pr ivate , publ ic and societa l organizat ions . This tokenizat ion pol icy wi l l be based on post- ICO issues that wi l l c reate new trading zones , especia l ly in areas where sovere ign money f inancing i s d i f f icul t or imposs ible .

Today , there i s a vast ar ray of problems that the economy and convent ional f inance cannot answer , for which a smart tokenizat ion act iv i ty can br ing unprecedented and ef f ic ient so lut ions . These include : corporate f inancing , ret i rement f inancing , f inancing of cul tura l act iv i t ies , f inancing of humanitar ian act iv i t ies , data monet izat ion , etc .

Tokeniz ing a number of the economic act iv i t ies can have the ef fect of mechanical ly increas ing the number of users and the volume of t rade in tokens . And as we have expla ined with our adherence to the methodical extens ions of Metcal fe ’ s Law, increas ing the number of users has a proport ional ef fect on the va lue pr ice of the GeoToken.

The economic model of Money by Des ign i s therefore based on the cont inual increase in the amount of users on the network . To achieve th is goal and a l low i t to be real ized in the best condit ions , severa l axes are pr iv i leged:

1 . Developing a problem-solut ion heurist ic

The Money By Des ign Blockchain a ims to prov ide so lut ions to technical or economic problems that cannot be so lved at th is t ime.

E .g . : The Money By Des ign team proposed a so lut ion to develop a tota l ly secure col lect ive decis ion system for autonomous vehic les running on the Blockchain to two major automobi le manufacturers on Januar y 08 , 2018 ( Ident i f y of manufacturer ’ s cannot be publ ished at th is t ime owing to conf ident ia l i ty agreements ) .

E .g . : The Money By Des ign team began discuss ions on Januar y 14 , 2018 with an internat ional company to develop a tamper-proof and inexpens ive ident i f icat ion so lut ion based on inf rared f ingerpr int analys is .

2. Develop a normative approach

As the Money By Des ign Blockchain i s meant to work with inst i tut ions , we seek to get work with regulators f rom al l the countr ies .

E .g . : The Money By Des ign team has , on September 3 , 2017 , partnered with Inf ra Chain , whose goal i s to create a Europe-wide inf rast ructure that can ser ve as


43


a bas is for the creat ion of semi-pr ivate Blockchains , composed of independent nodes cert i f ied safe by Inf ra Chain .

E .g . : The Money By Des ign team was received by the AMF on Februar y 12 , 2018 to present the pro ject , speak about the next ICO f rench law, and submit a request to become the f i r s t B lockchain to obta in a v i sa f rom the AMF in order to make our token marketable by a l l f inancia l inst i tut ions .

3. Develop a market approach

The Money By Des ign Blockchain a ims to develop a smart tokenizat ion bus iness or iented towards market p layers who wi l l make mass ive use of i t .

E .g . : On December 12 2017 , The Money By Des ign team met with an major internat ional bank and proposed a complete smart tokenizat ion so lut ion to enable them to switch to d ig i ta l currency without hav ing to make s igni f icant investments to bui ld i ts own Blockchain .

E .g . : The Money By Des ign team was received on Januar y 22 , 2018 by a large consult ing f i rm who presented a request to develop a supply chain so lut ion for reta i l d is t r ibut ion based on the t raceabi l i ty of numerous products . The GeoTokens inf in i tes imal d iv is ion funct ion i s per fect ly a l igned for th is use .

4. Develop a social approach

The Money By Des ign pro ject a ims to develop tokenizat ion act ions for publ ic or soc ia l actors with a large number of users with a st rong reputat ion .

E .g . : In the 2018/2019 per iod , The Money By Des ign team wishes to of fer a smart tokenizat ion ser v ice to create an onl ine encyclopedia which can be accessed by b i l l ions of users .

E .g . : In the 2018/2019 per iod , the Money By Des ign team wi l l gather with severa l s tates inst i tut ions to of fer so lut ions regarding cr ypto-bond issuance and tax col lect ion .


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SMART TOKEN AS A SMART PHONE

Metcal fe ’ s law states that the h igher the number of users in a network , the greater the va lue of that network . Whi le th is law was developed as a sa les p i tch for se l l ing the Ethernet network in the 1980’s , i t a lso appl ies to cr yptocurrency networks , and to other types of networks as wel l : Facebook , Apple , B i tcoin , Ether , etc . , have comparable t ra jector ies because they make i t poss ib le to corre late the number of users with the pr ice calculat ion .

The development model of the smart token is in comparable to that of the smart phone. By obser v ing a te lephone network that a l lows people to communicate by exchanging ora l or wr i t ten messages , i t i s c lear that i f there i s only one node/dev ice on the network , then the network wi l l have no va lue . I f a second person acquires a dev ice , the va lue of the network increases a b i t , whi le i f ever yone has one , the network i s enormously va luable . This i s a l l the more t rue when phones are equipped with features that of fer people much more extens ive uses than the phone cal l funct ion , as the intens i ty of use increases exponent ia l ly . As use increases exponent ia l ly so does the networks use and i ts va lue .

For a cr yptocurrency i t i s exact ly the same: the growth of the va lue of a decentra l ized cr yptocurrency exchange network i s not based on t ime but on the adopt ion of the token by a growing number of users . S ince money i s an inst rument that a l lows people to communicate by exchanging va lue with others , being the only one who possesses the currency g ives the currency a zero va lue to the so le holder . But i ts va lue increases as the number of users increases . Moreover , th is va lue does not only depend on the number of unique users , but a lso on the intens i ty and divers i ty of uses that the network makes poss ib le . What Money by Des ign focuses on i s the second aspect of the development of cr yptocurrency , which i s the number of features i t wi l l o f fer i t s users so that the ent i re network gains in va lue .

To implement the development that wi l l g ive the smart- tokenizat ion network i ts fu l l va lue , certa in technical prov is ions are important .

∞ Unl ike Bi tcoin , the Money By Des ign Blockchain sets up a publ ic system for count ing the number of users per unique address , in order to prov ide the market with real - t ime informat ion on the va lue of i t s network calculated in re lat ion to the law of Metcal fe .

∞ Unl ike Bi tcoin and Ether , the Money By Des ign Blockchain a l lows a l l c r yptocurrency users to develop features that look l ike smart phone appl icat ions . They t ransform the Money By Des ign Blockchain into an inter face in which a l l network players can part ic ipate in the creat ion of advanced features that are instant ly integrated (upon ver i f icat ion) into a l l new tokens i ssued by Money By Des ign network operators .


45


The development of features with in the network i s source of remunerat ion for thei r authors . As a resul t , there i s a rea l rec iproci ty between a l l the actors in the chain who become the promoters of i t s development . Without hav ing to resort to a proof of s take , the ent i re Money By Des ign network i s organized by convergent interests that a l low i t to col lect ive ly achieve i ts h ighest level of inte l l igence , ef f ic iency and t rust .


46


B L O C K C H A I N D I R E C T O R Y A N D T E C H N O L O G Y W A T C H

Alongs ide the Money by Des ign Blockchain , the pro ject wi l l a lso develop a funct ional d i rector y des igned to ident i f y a l l B lockchains in order to promote thei r d iscover y and understanding . This d i rector y i s intended to play a s t rategic ro le by guiding the di f ferent types of users to ident i f y the type of Blockchains that are best su i ted to them based on thei r requirements . This c lass i f icat ion tool wi l l ensure a id the development of d i f ferent Blockchains by making them real marketplaces access ib le to a l l .

There i s current ly no nomenclature to ident i f y d i f ferent Blockchains , as a resul t of which there i s a general lack ing towards a g lobal and coherent v i s ion . The development of the Blockchain technology requires an inst rument that permits the organizat ion and matching of d i f ferent of fers and requests . The inte l l igence of economic and socia l actors wi l l be great ly enhanced i f they have a research tool to or ient themselves v ia such a c lass i f icat ion .

The technical d i f f icul ty faced by such a pro ject i s that Blockchain di rector y cannot funct ion as a google d i rector y . I t wi l l have to re ly on a completely d i f ferent funct ional architecture , to produce results that wi l l increase readabi l i ty and access to d i f ferent Blockchains . Thus , nomenclatures that would be able to br ing di f ferent iat ion between stack appl icat ions , ledgers , in f rast ructure protocols , , consensus mechanisms , asset regist rat ions , etc . . . could prov ide a so l id bas is for c lass i f icat ion and nomenclature of Blockchains .

For the Money By Des ign Smart tokenizat ion act iv i ty , th is d i rector y wi l l prov ide a st rategic watch tower to detect new pro jects in the Blockchain and of fer Money By Des ign smart tokenizat ion ser v ices . I t wi l l c lass i f y new technologies by evaluat ing thei r potent ia l for development to fac i l i tate thei r growth through Blockchain community interact ions . The development and administ rat ion of th is d i rector y wi l l be carr ied out by a col lect ive interest cooperat ive society in which Money By Des ign which wi l l p lay the ro le of a s tandardizat ion body s imi lar to ICANN.

TECHNICAL ARCHITECTURE OF MONEY BY DESIGN CHARACTERISTICS

The technical architecture of Money by Des ign i s decentra l ized . I t s operat ion involves d i f ferent categor ies of actors who do not have the same ro le in the network .

Here i s the l i s t of the actors :

∞ User - can se l l / buy and use the features of the tokens . A user can be a phys ica l person or a corporat ion . I t can a lso be an art i f ic ia l inte l l igence .


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∞ Trusted third party - i s the author i ty node that can produce the consensus . I t can va l idate the authent ic i ty and feas ib i l i ty of t ransact ions made over the network .

∞ SCIC - i s used to resolve conf l ict other the network . I t a lso has the poss ib i l i ty to broadcast sof tware updates d i rect ly into the core system.

The operat ion of th is decentra l ized system is based on the funct ional associat ion between the author i ty nodes and the user community . I t i s based on a DHT (Dist r ibuted hash table) in which the users keys are associated with thei r respect ive author i ty nodes (which can be a consort ium of banks , insurance companies , inst i tut ions , pr ivate companies or s tates ) .

For each t ransact ion made by a network user , the author i ty nodes produce a consensus that the t ransact ion i s va l id and feas ib le .

Any t ransact ion wi l l therefore a lways take the form of a rec iprocal cr yptographic s ignature between a user and an author i ty node whose result has been hashed in the DHT.

SCIC STRATUM

TTP STRATUM

USER STRATUM& MECHANT STRATUM

Authority node 1 Authority node 2 Authority node 3

InstitutionBank Organization Foundation

User 1 User 2 User n

Shop ABC

CONSENSUS MECHANISM OF MONEY BY DESIGN

Proof of Author i ty (PoA) prov ides an advantage when i t comes to va l idat ion of t ransact ions as i t only requires a cr yptographic check and i t does not need calculat ion l ike the Proof of Work (PoW) mechanism. This makes reaching a consensus through a decentra l ized network far eas ier , less computat ional ly intens ive with lower energy consumption .


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The author i ty nodes wi l l be TTPs that wi l l be respons ible to wr i te thei r “own page” of the ledger ( the one concerning thei r t ransact ions) ever y t ime they are the chosen node.

Bas ica l ly , the se lect ion of the respons ible node is made us ing a round-robin with a t ime f rame that works with the fo l lowing ru les :

∞ The t imeframe to wr i te a page must be last longer than the t ime required for 2 d istant nodes to work together

∞ The ping between 2 nodes must be capped to an acceptable level

∞ Al l author i tat ive node must use the SCIC NTP (Network t ime Protocol ) ser vers to syndic thei r c lock .

The t ime to product an author i ty consensus should not exceed 3 seconds.

AUTHORITYWHY PROOF OF

PROOF OF AUTHORITYPROOF OF WORK & PROOF OF STAKE

▶Tradit ional mining i s not necessar y ,

leading to minimal energy usage

▶Speed, cheap, sca leable and

customized va l idat ion processes

▶Allows changes and amendments

to be made without the use of “ forks”

▶Balance of power i s mainta ined

& inst i tut ions keep pace with

innovat ion

▶Ver y inef f ic ient use of energy

and tax ing on the e lectr ica l gr id

▶Cost ly , s low, and unscaleable

va l idat ion processes

▶L imits overa l l contro l and the

poss ib i l i ty for improvements

▶Can a l low certa in actors to

acquire too much power and

monopol ize the market


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HIGHLIGHTS OF MONEY BY DESIGN’S TECHNICAL OFFER

An author i ty -based consensus system that wi l l enable the introduct ion of the Amend funct ion by prov id ing users with a st ructured architecture capable of contro l l ing errors , f rauds , nuisances , and correct ing them by prov id ing them with an appropr iate response .

∞ A decentra l ized architecture a l lowing a l l users to play the ro le of nodes and to generate consensus based on the smal lest power process ing and calculat ion : we re legate the mining system owing to i ts h igh cost , t ime requirements and energy consumption .

∞ A decentra l ized and neutra l network that a l lows users to launch smart tokens v ia smart contracts that wi l l guarantee thei r execut ion . This a l lows any inst i tut ion to access the advanced features of the currency without hav ing to change i ts inf rast ructure .

∞ An inter face g iv ing a l l members of the network access to a l l the features of the currency , and a l lowing them to develop new features . The result i s a much r icher user exper ience and new earnings .

∞ A funct ional d i rector y that wi l l prov ide a cont inuously updated nomenclature of d i f ferent Blockchains to make thei r content more access ib le to a l l users . This d i rector y wi l l be managed col legia l ly by an organizat ion grouping the actors of the var ious Blockchains .


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ROADMAP OF TECHNICAL PROJECT DEVELOPMENT

The technical development and del iver y t ime of the MVP corresponds to the durat ion of the ICO in order to mainta in a dynamic interact ion between these two t ime per iods .

TOPIC DETAILS

DHT Structuration Implement the DHT so you can resolve keys and bindings between keys as well as the node keys.≈2 MONTH

Implement the U2U Transaction And make it sealed in a ledger page using only its hash.≈1 MONTH

Adding the SCIC stratums With the Amend Mechanism≈1 MONTH

Develop a smart-contract language with its virtual machine

execution

Getting inspiration from Ivy (Bitcoin) and Solidity (Ethereum).≈4 MONTHS

MVP Milestone From this moment on, it’s difficult to have a view of the tasks. Reached 6 months after the start of the development.

Features implementation Creating the smart-contracts responsible for the token features, published by the Money By Design Foundation.

MONEY BY DESIGN PROJECT BUDGET FROM 2019 TO 2023

2019 2020 2021 2022 2023

IT development 16 17 18 19 20

Research & Innovat ion 4 4 4 4 4

Funct ional Di rector y 2 3 4 5 6

Team & Organizat ion 6 6 7 7 8

Market ing & Communicat ion 18 20 22 24 26

Administ rat ive management 1 1 1 1 1

Inf rast ructures 13 2 2 2 2


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LEGAL STRUCTURE

In order to support th is ambit ious pro ject and author ize any type of actor to subscr ibe to i t , i t wi l l be developed through a Cooperat ive Society of Col lect ive

Interest (SCIC) .

This s t ructure wi l l be organized col lect ive ly f rom severa l work ing groups , br inging together States and Inst i tut ions , Banks and Insurance Companies , Mult inat ional Corporat ions , SMEs / SMIs , and Representat ive Associat ions of c iv i l soc iety . I t s object ive wi l l be to work on the permanent improvement of the monetar y funct ional i t ies proposed in the Blockchains , by l i s t ing them and integrat ing them into a st ructured di rector y according to the standards def ined by the GeoToken.

The cooperat ive society wi l l hold a r ight of i ssue of the GeoToken which wi l l a l low i t to market the tokens i ssued dur ing the var ious f inancing operat ions carr ied out for the benef i t of the var ious economic , soc ia l and pol i t ica l actors . I t s s tatus as a cooperat ive society should a l low i t to put the prof i ts f rom the sa le of Tokens in reser ve in order to re invest them in the development of i t s pro jects re lated to the Blockchain . In return for the tax benef i t conferred on i t , the cooperat ive society of col lect ive interest cannot proceed to the dist r ibut ion of d iv idends for the benef i t of i t s associates as a pr ivate capita l company would do . In addit ion , the cooperat ive society i s based on the pr inc iple of 1 man, 1 r ight of vote ; regardless of f inancia l part ic ipat ion of members , which means that i t s operat ion i s fundamental ly based on equal i ty .

Intangible assets re lated to the development of Money By Des ign technology as wel l as explo i tat ion r ights wi l l be contr ibuted to the capita l of Voxcracy , which wi l l be the so le holder . These assets wi l l be remunerated by computer l icense operat ing agreements , such as the one that wi l l be set up between the cooperat ive society of col lect ive interest and Voxcracy for the use of emiss ion r ights of the GeoToken over t ime.

WORKING GROUPS AND DIALOGUE:

The organizat ion of the Money By Des ign Blockchain wi l l be entrusted to the cooperat ive society of the same name. This i s due essent ia l ly to the open source and humanist nature of the pro ject .

This organizat ion wi l l be governed by statutes , which are out l ined below:

∞ The organizat ion i s respons ible for managing the GeoToken and the modular methodology for the construct ion of the dig i ta l account ing units that are associated with i t .

∞ The organizat ion i s respons ible for ensur ing the proper use of the GeoToken user accounts , whether they are members of the organizat ion


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or not .

∞ The organizat ion i s respons ible for propos ing a c lass i f icat ion and standards that enable i t to develop dig i ta l currencies and make them universa l ly access ib le .

∞ The organizat ion i s respons ible for in i t iat ing work ing groups whose object ive wi l l be to uni f y pract ices by tak ing into account the speci f ic indiv idual chal lenges .

∞ The organizat ion i s respons ible for organiz ing discuss ions , conferences , and communicat ion that wi l l enable inst i tut ional and technological actors to meet .

With th is approach, the organizat ion wi l l be open to any categor y of members , which i t wi l l d iv ide into severa l themed work ing groups . Each new member wi l l be l inked by the organizat ion to the work ing group that ref lects i t s nature and interests . There wi l l be two main categor ies of groups , which are st rategic planning groups and operat ional development groups . More speci f ica l ly , we wi l l have :

STRATEGIC PLANNING GROUP:

This group wi l l ref lect on changes in pract ices , regulat ions , and inst ruments in the internat ional f inancia l and monetar y sector .

This group wi l l be composed of severa l subgroups , such as :

1 . Group of governments and inst i tut ions

2. Group of mult inat ional corporat ions and banks

3. Group of SMEs-SMIs

4. Group of c iv i l associat ions

OPERATIONAL DEVELOPMENT GROUP:

This group wi l l essent ia l ly implement the st rategic d i rect ions def ined by the organizat ion through programming and communicat ion .

This group wi l l be composed of severa l subgroups , such as :

1 . Phys ica l ent i t ies

2. Legal ent i t ies

Through thei r ta lents and ideas , a l l developer communit ies throughout the wor ld wi l l be cal led to jo in the l ibertar ian movement supported by the Money By Des ign


53


Blockchain .

A long with the work ing groups , there wi l l be a th i rd group made up of the founding members of the organizat ion . This th i rd group wi l l be respons ible for the execut ive management of the organizat ion and wi l l manage the other groups ’ work ing sess ion schedules .

In the organizat ion ’s genera l meet ings , ever y member wi l l have an equal vote . I t wi l l be necessar y to speci f y whether the organizat ion ’s genera l meet ings wi l l be held at the work ing group level or at the level of each member indiv idual ly .


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MANAGEMENT TEAM

Oliv ier Rocca : CEO, Co- founder

Pres ident @Voxcracy with more than 15 years of exper ience in

f inance and wealth management . Deep knowledge in Law, Pol i t ica l

Sc ience and Art . Books ’s author on Currency and Democracy :

« Argent et conscience » and « La théor ie logique de la démocrat ie»

Pascal Ruscica : Managing Director , Co- founder

CEO @Voxcracy , profess ional with over 15 years of market ing and

bus iness exper ience in env i ronmental and advert i s ing industr ies .

Pierre Corbucci : CCO, Co- founder

CCO @Voxcracy , profess ional with deep exper ience in

communicat ion and advert i s ing . Highly mot ivated by semant ics

and cr yptocurrency. Communicat ion st rategist for establ i shed and

start -up companies .

Yann Sol iveres : CTO, Co- founder

Chief Product Of f icer @Voxcracy , successfu l d ig i ta l entrepreneur .

B lockchain , entrepreneurship and technology af ic ionado with

st rong background in engineer ing .

Laurent Leloup : Ser ia l b lockchain entrepreneur ,keynote speaker

book ’s author « La revolut ion de la conf iance » . Founder of F inyear

(media & events F inance & Innovat ion 2006) , B lockchain Dai ly

News (media & events ) and Chaineum SAS ( ICO advise , ICO ser v ices ,

b lockchain st rategy) , B lockness SAS (Blockchain Consult ing) &

France Blocktech (b lockchain ecosystem organizat ion) .

Pierre Leloup: Chaineum’s Co-Founder & CCO ( Chief Creat ive

Of f icer ) , graphist & webdes igner , in charge of v i sual communicat ion

for CHAINEUM.

Jeremy Seban : Technical Blockchain Guru , former Lead Dev at

Qonto .

Phi l ippe Decaudin : Responsible for in the ICOS deployments

https://www.linkedin.com/in/olivier-rocca-89335989/

https://www.linkedin.com/in/pascalruscica/

https://www.linkedin.com/in/pierre-corbucci-9474491b/

https://twitter.com/PascalRuscica

https://twitter.com/pirotek

https://www.linkedin.com/in/yann-soliveres-42372441/

https://www.linkedin.com/in/chaineum-sas-1421b710/

https://www.linkedin.com/in/pierre-leloup-a34668a5/

https://www.linkedin.com/in/philippe-decaudin-800a5634/

https://www.linkedin.com/in/jérémy-seban-2177b893/


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within CHAINEUM, cofounder of France Blocktech , Phi l ippe has

an extens ive exper ience in Credit Management and Internat ional

Development ( Coface Group) ,

Armel Sadon: Co- founder & COO at DMS Investments . Exper ienced

Domraider ’ s adventure in investors re lat ion and internat ional

development . More than 20 years in customers re lat ions and

management ( Car lson Wagonl i t , Havas or Amer ican Express…) .

Emil ien Ercolani : CMO ( Chief Market ing Of f icer ) , market ing

and communicat ion specia l i s t as wel l as b lockchain and cr ypto

enthus iast . Former IT B2B journal i s t .

Thomas Revei l lon: Member of the creat ive team, pro ject manager

ass is tant in charge of teams coordinat ion in ICOs powered by

Chaineum.

SELECTED ADVISORS

Hubert de Vauplane : Lawyer . ICO and Blockchain expert

Sebast ien Grandfi ls : Goodwi l l expert , La Sorbonne Speaker

Jed Grant : Founder & CEO of KYC3, founder of Sandstone , founding

member of Inf rachain , board member of the Amer ican Chamber of

Commerce in Luxembourg

Gilbert Revei l lon : Entrepreneur and French fore ign t rade advisor

Kariappa Bheemaiah : Researcher , TEDx Speaker and Author of ‘The

Blockchain Alternat ive ’

Brieuc Audebert : Bus iness Development Di rector , Naut ic pol ic ies

specia l i s t

Pascal Pierre Coulon: Pr imis Aodys Group - DSI and RH consult ing

specia l i s ts

Mohamed Belkalem: Technological expert in energy assets

Henri de Saint-Mars : Trader for inst i tut ional actors

Jake Jarvela : F inancia l analyst and technological consultant

https://www.linkedin.com/in/emilienercolani/

https://www.linkedin.com/in/thomas-reveillon-b0371896/

https://www.linkedin.com/in/armel-sadon-b81826127/

https://www.linkedin.com/in/hubert-de-vauplane-18297621/

https://www.linkedin.com/in/superhero/

https://www.linkedin.com/in/sebastiengrandfils

https://www.linkedin.com/in/gilbert-reveillon-0924a/

https://www.linkedin.com/in/karybheemaiah/

https://www.linkedin.com/in/brieucaudebert/

https://www.linkedin.com/in/pascal-pierre-coulon-5305753/

https://www.linkedin.com/in/mohamed-belkalem-65b1b9a/

https://www.linkedin.com/in/henri-de-saint-mars-2695bb/

https://www.linkedin.com/in/stephen-jake-jarvela-63346532/


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APPENDIX

1 .METCALFE’S LAW: OUR REASONING FOR SELECTING IT AS A VALUATION

GUIDELINE

Our choice for us ing Metcal fe ’ s Law stems f rom research conducted on va luat ion methods for networks . In the 1980s , Robert Metcal fe , the inventor of Ethernet , proposed a formulat ion of network va lue in terms of the network s ize ( the number of nodes of the network) , which was later named as Metcal fe ’ s law. The law states that the va lue V of a network i s proport ional to the square of the s ize n of the network , i .e . , V ∝ n 2 . [Metcal fe ca lculates i t as (V=n.(n-1) ]

Metcal fe ’ s Law is not the only propos i t ion for est imat ing the va lue of a network based on network s ize . Other laws have been proposed, inc luding Sarnoff ’s law

(V ∝ n) , Odlyzko’s law (V ∝ n log(n)) , and Reed’s law (V ∝ 2 n) . However , our choice in se lect ing Metcal fe ’ s Law as a network va lue est imat ing guidel ine stems f rom the fact that i t i s the only Law that has been ver i f ied by empir ica l data .

In 2013 , Robert Metcal fe publ ished the paper , “Metcal fe ’ s Law af ter 40 years of Ethernet ” in the peer- rev iewed IEEE journal . In th is paper , he was able to prove the va l id i ty of h is law by model l ing Facebooks user growth data and associated revenue over 10 years . The f igure below shows us that compar ing the Monthly Act ive User (MAU) growth over 10 years to the associated revenue earned (where revenue acts as a proxy for network va lue) , produces a S igmoidal cur ve (as Metcal fe used a general izat ion of the s igmoid funct ion which he cal led the ‘neto id ’ ) .

https://www.computer.org/csdl/mags/co/2013/12/mco2013120026-abs.html

https://www.computer.org/csdl/mags/co/2013/12/mco2013120026-abs.html


57


Fol lowing th is publ icat ion , in 2015 three researchers f rom the Chinese Academy of Sc iences publ ished another report in Journal of Computer Sc ience and Technology where they repeated the same analys is us ing data f rom TenCent and Facebook . In the publ icat ion , s imply t i t led , “Tencent and Facebook Val idate Metcal fe ’ s Law” , the researchers were able to show that in spi te of the fact that Tencent and Facebook have big d i f ferences in revenue , cost , bus iness models and technology , the data f rom both networks over ten years (2004 to 2014) showed that both network ’s va lue st i l l adhered to Metcal fe ’ s Law:

VTencent = 7.39 × 10−9 × n 2 VFacebook = 5 .70 × 10−9 × n 2

While these two independent analyses just i f ied our se lect ion of Metcal fe ’ s Law, there i s a tert iar y point that a lso made us determine that us ing the law would be benef ic ia l as an accurate network va luat ion guidel ine . As the GeoToken is made up of 7 funct ions that can be combined to prov ide users with mult ip le

https://link.springer.com/article/10.1007/s11390-015-1518-1

https://link.springer.com/article/10.1007/s11390-015-1518-1


58


funct ional i t ies , the va luat ion of Money by Des ign network i s poised to grow as users come up with increas ingly innovat ive so lut ions with the Token.

What Metcal fe ’ s Law a l lows us to have i s a so l id foundat ional base on which we can use to analyse the interplay between the Money by Des ign networks phys ica l growth in re lat ion to the va lue of the f inancia l act iv i t ies that can be atta ined v ia the mult i - funct ional token. Understanding th is interplay at later s tages wi l l be key in helping us assess the networks va lue and how we can predict i t s growth more sens ibly . Last ly , i t could a lso help us in developing a va luat ion f ramework for future network va luat ions .


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2. VOXCRACY’S VOTING SYSTEM : A SCIENTIFIC METHOD FOR MEASURING

COLLECTIVE PREFERENCES

What is the issue ?

In format ion i s one of the most important va lues in th is new centur y . More and more data are col lected ever y day about anything , about people as wel l as about automat ic systems. One goal i s to be able to opt imize these systems us ing these data as wel l as being able to sat is f y as much as poss ib le people , most of the t ime customers of a ser v ice or a ser v ice col lect ing data about i ts customers .

Nowadays , there are more and more data extracted f rom more and more sources f rom a ver y wide hor izon . Companies as wel l as governments have to handle these data conta ined in b igger and bigger data storage in so many databases .

I t i s becoming a new chal lenge to be able to manage a l l these data . A lot of so lut ions have been proposed to organize , order and process a l l these data . But there i s no real so lut ion for extract ing a real informat ion or a rea l decis ion f rom these tons of data . In order to extract informat ion f rom a database , one has to manage these data with some parameters such as the s igni f icat ion of these data and the user purpose for us ing the data , and only then i t i s poss ib le to extract informat ion which impl ies an act ion to be done .

Most of the publ ic and pr ivate organizat ions have raw data (open data , b ig data) , but they cannot process these data in an automated way to generate informat ion . This i s expla ined by the fact that in the chain that leads f rom the data to the informat ion (data → col lect ion → organizat ion → s igni f icat ion → purpose → informat ion) , only the two f i r s t s teps of t ransformat ion are taken into account by the current informat ion systems and technologies . The model of the informat ion chain and the necess i ty to get a complete process for extract ing re levant informat ion has been discussed for many years in the informat ion theor y (Kev in Bronste in , Russel Ackof f ) .

The computer sets the informat ion only with two va lues : the number of b i ts , the st ructure and organizat ion of the row. The raw data lack s igni f icat ion which could g ive them a pos i t ive va lue , and do not meet any predetermined goal which expla ins the di f f icul ty that ex ists today to extract re levant informat ion .

In order to f i l l the two miss ing steps of the extract ing process of informat ion , i t i s necessar y to take into account the preferences of agents . They are the only ones able to g ive s igni f icat ion and evaluat ion (according to thei r purpose) to the data , that wi l l t ransform the raw data into useful and explo i table informat ion .

The systems that take into account the agents preferences are quite numerous , but they have few operat ional appl icat ions .


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Some ex ist ing systems re lates to a weighted vot ing system. This k ind of processes can be implanted in a computer ized env i ronment that a l lows a group of persons to vote by evaluate thei r preferences between severa l opt ions through a weight ing method. These weighted systems (Borda vot ing method, Schwarz vot ing method, vot ing repart i t ion points , cumulat ive vot ing system, monetar y evaluat ion system) are most of ten used in bus iness methods , but they do not of fer rea l operat ional perspect ive , because they produce s impl i f ied results that are adapted to evaluate objects , but that say nothing about the preferences of actors . The imperfect ion of weighted vot ing system ra ises an important point : the extract ion of informat ion cons ists not only to process data with a computer program as i f i t was a separated and uni formited object , but need to establ i sh a l ink between the object ives of the actors with the data they want to g ive importance by according them a greater meaning and evaluat ion .

Some ex ist ing systems re late to a preferent ia l vot ing systems. This k ind of processes can be implanted in a computer ized env i ronment that a l lows a group of persons to vote by express ing thei r preferences between severa l candidates through a ranking method. These vot ing systems ( for example : instant runof f vot ing , a l ternat ive vote , t ransferable vote) need severa l vot ing sess ions in order to each t ime exclude the lowest ranked candidate , th is means the candidate hav ing the highest number of last preferences . This candidate i s the less preferred candidate . Then a new vot ing sess ion begins , and so on unt i l there i s only one candidate lef t who corresponds to the preference of the ent i re group. But as th is k ind of preferent ia l vot ing techniques never extract the ent i re informat ion f rom thei r vot ing sess ions , potent ia l ly useful informat ion i s lost and not used. Thei r inef f ic iency expla ins that unt i l now, these vot ing procedures have never been used in operat ing systems ( l ike industr ia l systems, b ig and open data , data process ing models , machine learning , predict ive analyt ics , ar t i f ic ia l inte l l igence , e lectronic systems) , and i t i s to th is operat ional def ic iency that the present invent ion br ings a so lut ion .

There i s c lear ly a need for a new extract ion process to overcome at least some of the l imitat ions of the ex ist ing techniques .

Voxcracy’s solut ion

Voxcracy ’s preferent ia l vot ing system can be def ined as method of extract ion of informat ion corresponding to at least one candidate data object among a plura l i ty of candidate data objects conta ined in at least one database being stored in at least one stor ing dev ice , and f rom parameters prov ided by evaluators and compris ing evaluat ion cr i ter ia , the method being executed by at least one processor and compris ing the fo l lowing steps :

(a) Retr iev ing the plura l i ty of candidate data objects f rom the at least


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one database us ing the sa id evaluat ion cr i ter ia ;

(b) Determining a set of ranks each hav ing a d i f ferent preference level on a preference scale , where in the ranks are sorted on the preference scale according to thei r preference levels ;

(c) Determining , for each evaluator , a candidate rank ass igned, among the set of ranks , to each of the retr ieved candidate data objects ;

(d) For each candidate data object and each rank , process ing a number of supports as a funct ion of a number of t imes the sa id candidate rank has been ass igned by evaluators to sa id candidate data object and as a funct ion of the evaluat ion cr i ter ia ;

(e) Extract ing sa id informat ion based on the numbers of supports and generat ing at least one output compris ing sa id informat ion .

This vot ing method a l lows to extract informat ion f rom any wide range data base by se lect ing the re levant data objects regarding evaluators . The evaluat ion cr i ter ia are conf igured to opt imize the output of th is method in order to f i t as much as poss ib le the needs of the evaluators .

Advantageously , the step (a ) a l lows the Voxcracy ’s vot ing method to aggregate data coming f rom severa l d i f ferent sources and hav ing di f ferent format . This i s made poss ib le by retr iev ing the plura l i ty of candidate data objects among a candidate data objects database . Voxcracy ’s method is then able to aggregate measurable data as wel l as unmeasurable data .

Advantageously , the steps (b) a l low to order the retr ieved candidate data objects by preferent ia l vote on a preference scale by ass igning them to a determined rank among a set of ranks . This set of ranks i s determined based on thei r preference levels . This a l lows to del iver fu l l in format ion conta ined ins ide the candidate data objects in order to re inforce the informat ion extract ing proces

Advantageously , the steps (c ) a l lows the evaluators to not speci f y a l l the candidate data objects , and to not rank a l l the candidates . Through the use of cumulat ive rank vector , the system wi l l however be able to produce a c lass i f icat ion of the candidate data objects that represents a col lect ive preference . This important aspect insures the informat ion cons istency and a l lows to work on unstructured and incomplete data .

Advantageously , the step (d) a l lows the evaluators to compare and sort the candidate data objects . Because of the process of count ing the number of supports as a funct ion of a number of t imes the candidate rank has been ass igned by evaluators to a candidate data object , the present invent ion a l lows to obta in a wide range of informat ion that would normal ly require severa l vot ing sess ions


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using common vot ing processes . This aspect of the Voxcracy ’s vot ing method decreases the process ing t ime, increases the cost ef f ic iency and re inforces the re l iabi l i ty of the process .

Advantageously , the step (e ) concerns the generat ion of one output compris ing the searched informat ion . The present invent ion i s completely conf igurable in order to f i t the needs of the users . By th is way , th is process can be appl ied to a wide range of systems in order to opt imize thei r vot ing processes and decis ion making processes . The present invent ion i s then scalable to any system requir ing the extract ion of informat ion concerning severa l eva luators , such as , for example , a mult i -agent system.

Voxcracy ’s vot ing system has been sc ient i f ica ly va l idated by a mathematical searcher f rom LIP 6 Par is univers i ty laborator y as a method which i s able to respect cumulat ive ly a l l the Arrow’s rat ional i ty cr i ter ion : universa l i ty , tota l i ty , monotony , independance and non dictature . Such vot ing system performance was cons idered unt i l today as imposs ible to reach by the sc ient i f ica l theor y of soc ia l choice . By implement ing in the Blockchain a ver y powerful inst rument for col lect i f decis ions and col lect ive preferences representat ion , Money by Des ign empowers a l l i t s users by g iv ing them access to the best funct ional i t ies in the wor ld .


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LEGAL DISCLAIMERAny buyer purchas ing the Company ’s products or ser v ices express ly acknowledges technical and market uncerta int ies which are inherent in any bus iness development pro ject as presented in th is White Paper ( see below for r i sk factors ) and that th is pro ject may therefore never come to f ru i t ion or may have to be abandoned, without the GeoToken being used. In such a case , the buyer express ly acknowledges and accepts that i t wi l l not be ent i t led to sue or br ing any di rect or indi rect legal act ion before the courts , the arbi t rat ion bodies or any a l ternat ive d ispute sett lement body , e i ther in France or abroad, against the Company , i t s d i rectors , shareholders , employees or subcontractors in the event of the non-performance , non-deployment or non- implementat ion of the pro ject , even in cases where i ts GeoToken have lost some or a l l of thei r va lue .

In addit ion , the Company may not be held l iable for any of the fo l lowing :

( i ) use of ser v ices that are not compl iant with the appl icable terms ;

( i i ) non-per formance , fa i lure , mal funct ion or unavai labi l i ty of the ser v ices due to a th i rd party , the buyer , a th i rd-party product , or the buyer ’ s breach of i t s obl igat ions ;

( i i i ) indi rect damages such as bus iness loss or d isturbance , loss of orders , operat ing loss , in f r ingement of the t rade mark , loss of prof i ts or c l ients (e .g . improper d isc losure of conf ident ia l in format ion concerning sa id c l ients due to fa i lure or p i racy of the Plat form, th i rd-party proceedings against the c l ient , etc . ) ;

( iv) loss , d isc losure or unlawful or f raudulent use of user s ign ons by the buyers or th i rd part ies ;

(v) suspens ion of access or temporar y or permanent suspens ion of ser v ices ( in part icular , a r i s ing f rom a request i ssued by an appropr iate administ rat ive or judic ia l author i ty , or not i f icat ion received f rom a th i rd party ) ;

(v i ) loss , a l terat ion or destruct ion of a l l or part of the content ( informat ion , data , appl icat ions , f i les or other i tems) hosted on the inf rast ructure , insofar as the Company i s not respons ible for managing the cont inuity of buyers act iv i t ies , and data backups in part icular ;

(v i i ) mismatch between the ser v ices and the buyer ’ s needs ( in part icular , with regard to the sens i t iv i ty of the re levant data) ;

(v i i i ) secur i ty inc idents re lat ing to use of the Internet , concerning in part icular the loss , a l terat ion , destruct ion , d isc losure or unauthor ized access


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to the buyer ’ s data or deta i l s on or v ia the Internet ; and

( ix) damages to systems, appl icat ions and other i tems insta l led by the buyer on the inf rast ructure .


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GENERAL DISCLAIMERThis White Paper does not const i tute an of fer or an inv i tat ion to se l l shares , secur i t ies or r ights belonging to the Company or any re lated or associated company.

None of the informat ion or analyses in th is White Paper i s intended to prov ide a bas is for an investment decis ion , and no speci f ic investment recommendat ion i s made. Accordingly , th is White Paper does not const i tute investment adv ice or an inv i tat ion to invest in any secur i ty or f inancia l inst rument of any nature whatsoever .

This White Paper does not const i tute or form part of , and should not be construed as , an of fer for a sa le or subscr ipt ion , or an inv i tat ion to buy or subscr ibe secur i t ies or f inancia l inst ruments . This White Paper , or any of i t s component parts , does not const i tute the bas is for , or should not be used as a bas is for , or in connect ion with , a contract for the sa le of secur i t ies or f inancia l inst ruments or a commitment to se l l secur i t ies or f inancia l inst ruments of any k ind .

The Company express ly d isc la ims any l iabi l i ty for any di rect or indi rect loss or damage of any k ind ar i s ing di rect ly or indi rect ly f rom:

( i ) any re l iance on the informat ion conta ined in th is White Paper ;

( i i ) any er ror , omiss ion or inaccuracy in sa id informat ion ; or

( i i i ) any resul t ing act ion that may be brought .

This White Paper has been constructed in accordance with the appl icable EU regulat ions .

A GEOTOKEN DOES NOT REPRESENT AN INVESTMENT

in a secur i ty or a f inancia l inst rument with in the meaning of EU Direct ive 2014/65/EU of the European Par l iament and of the Counci l of 15 May 2014 re lat ing to markets in f inancia l inst ruments : GeoToken confer no di rect or indi rect r ight to the Company ’s capita l or income, nor does i t confer any governance r ight with in the Company ;


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A GEOTOKEN IS NOT PROOF OF OWNERSHIP OR A RIGHT OF CONTROL

Control over a GeoToken does not grant the contro l l ing indiv idual any asset or share in the Company , or in the Plat form. A GeoToken does not grant any r ight to part ic ipate in contro l over the Company ’s management or decis ion-making set-up , or over P lat form.

A GEOTOKEN IS NOT AN ELECTRONIC CURRENCY

within the meaning of EU Direct ive 2009/1 10/EC of the European Par l iament and of the Counci l of 16 September 2009 re lat ing to access to and pursui t of the bus iness of e lectronic currency inst i tut ions : GeoToken are not accepted outs ide the Plat form and a GeoToken do not have a f ixed exchange va lue equal to the amount del ivered at the t ime of thei r i ssue ;

A GEOTOKEN IS NOT A PAYMENT SERVICE

within the meaning of EU Direct ive 2007/64/EC of the European Par l iament and of the Counci l of 13 November 2007 re lat ing to payment ser v ices in the internal market , nor with in the meaning of EU Direct ive N° 2015/2366 of the European Par l iament and of the Counci l of 25 November 2015 re lat ing to payment ser v ice 2 (DSP 2) : the ICO does not involve the purchase and/or sa le of GeoToken and the Company ’s bus iness does not cons ist in receiv ing currencies against the del iver y of GeoToken; as such , a GeoToken is not a means of payment e i ther .

A GEOTOKEN IS A CRYPTOGRAPHIC TOKEN USED BY THE PLATFORM.

A GeoToken is a cr ypto-currency , i .e . an unregulated dig i ta l asset i ssued and contro l led by i ts developers and used and accepted by the members of a g iven community .


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SALES RESTRICTIONSPart ic ipat ion in the ICO is rest r icted to natura l or legal persons act ing within the scope of thei r profess ional act iv i t ies . Any pr ivate indiv idual act ing on a non-profess ional bas is as a s imple consumer , with in the meaning of EU Direct ive 2011 /83/EU of the European Par l iament and of the Counci l of 25 October 2011 on consumer r ights , i s exc luded f rom the ICO.

Documents l inked to the ICO may not be t ransmitted or d ist r ibuted to a “U.S . c i t izen” or to mai l or emai l addresses in the United States of Amer ica . I t i s prohibi ted to t ransmit , d is t r ibute or reproduce documents l inked to the ICO to or for a “U.S . c i t izen” or with in the ter r i tor ies of the United States of Amer ica , in whole or in part .

To ensure thei r e l ig ib i l i ty for the purchase of GeoToken, buyers express ly declare that they are not a “U.S . c i t izen” (with in the meaning of “Regulat ion S” of the Secur i t ies Act 1933 under U.S . law) , i .e . :

( i ) any pr ivate indiv idual res ident in the United States of Amer ica ;

( i i ) any partnership or bus iness organized or establ i shed under U.S . law;

( i i i ) any property of which the executor or administ rator i s a U.S . c i t izen ;

( iv) any t rust of which a proxy i s an Amer ican c i t izen ;

(v) any agency or branch of a fore ign ent i ty located in the United States of Amer ica ;

(v i ) any non-discret ionar y account or s imi lar account (other than a t rust or property ) held by a t rader or other t rustee for the benef i t of or on behal f of a U.S . c i t izen ;

(v i i ) any d iscret ionar y account or s imi lar account (other than a t rust or t rust ) held by a t rader or other t rustee , that i s organized , establ i shed or ( i f a pr ivate indiv idual ) res ident in the United States of Amer ica ; and

(v i i i ) any partnership or company i f :

(a) i t i s organized or establ i shed under the law of a fore ign jur i sd ict ion ; and

(b) i t i s formed by a U.S . c i t izen pr imar i ly for the purpose of invest ing in secur i t ies not l i s ted under the U.S . Secur i t ies Act , unless i t i s organized or establ i shed, and owned, by accredited investors who are not pr ivate indiv iduals , t rusts or propert ies .


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WARNINGS ON THE RISKS INHERENT TO THE ICO

RISK OF LOSS OF ACCESS TO A GEOTOKEN DUE TO LOSS OF CREDENTIALS

Unti l i t i s d is t r ibuted to the buyer , the sa id buyer ’ s GeoToken may be l inked to a Company account . You can only access the Company account us ing the credent ia ls se lected by the buyer . The loss of these credent ia ls wi l l resul t in the loss of the GeoToken. Good pract ices adv ise buyers to store thei r credent ia ls securely in one or more backup locat ions that are geographical ly separated f rom the work locat ion .

RISKS ASSOCIATED WITH THE BUYER’S CREDENTIALS

Any th i rd party that obta ins access to the buyer ’ s credent ia ls or pr ivate keys may be able to use the buyer ’ s GeoToken. To minimize th is r i sk , buyers must protect themselves against people gain ing unauthor ized access to thei r e lectronic dev ices .

LEGAL RISK AND RISK OF ADVERSE REGULATORY INTERVENTION IN ONE OR

MORE JURISDICTIONS

Blockchain technologies have been rev iewed by var ious regulator y bodies around the wor ld , inc luding within the European Union . The ICO has been st ructured to comply with EU law appl icable at the t ime of the of fer .

The operat ion of the Plat form and of GeoToken may be impacted by the pass ing of rest r ict ive laws , the publ icat ion of rest r ict ive or negat ive opinions , the i ssu ing of in junct ions by nat ional regulators , the in i t iat ion of regulator y act ions or invest igat ions , inc luding but not l imited to rest r ict ions on the use or ownership of d ig i ta l tokens such as GeoToken, which may prevent or l imit development of the Plat form.

Given the lack of cr ypto-currency qual i f icat ions in most countr ies , each buyer i s s t rongly adv ised to carr y out a legal and tax analys is concerning the purchase and ownership of GeoToken according to thei r nat ional i ty and place of res idence .

RISK OF AN ALTERNATIVE, UNOFFICIAL PLATFORM

Fol lowing presales and development of the or ig inal vers ion of the Plat form, there i s a poss ib i l i ty that a l ternat ive plat forms may have been establ i shed us ing the same open-source code and open source protocol that under l ies the Plat form. The of f ic ia l P lat form may f ind i tse l f in compet i t ion with these a l ternat ives , unof f ic ia l


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plat forms based on GeoToken, which could potent ia l ly adverse ly impact the Plat form and GeoToken.

RISK OF A LACK OF INTEREST IN THE PLATFORM OR DISTRIBUTED APPLICATIONS

There i s a poss ib i l i ty that the Plat form may not be used by a large number of companies , indiv iduals and other organizat ions , and that there may be l imited publ ic interest in the creat ion and development of d ist r ibuted appl icat ions . Such a lack of interest could impact on the development of the Plat form and, therefore , on the uses or potent ia l va lue of GeoToken.

RISK THAT THE PLATFORM, AS DEVELOPED, DOES NOT MEET BUYER

EXPECTATIONS

The Plat form is current ly under development and may undergo s igni f icant redes ign pr ior to i ts launch. For a number of reasons , not a l l buyer expectat ions concerning the Plat form or GeoToken’s form and funct ion may be met on the launch date , inc luding changes in des ign , implementat ion and execut ion of the Plat form.

RISK OF THEFT AND PIRACY

Hackers or other mal ic ious or cr iminal groups or organizat ions may attempt to inter fere with the Plat form or the ava i labi l i ty of GeoToken in severa l ways inc luding , but not l imited to , denia l of ser v ice attacks , Sybi l at tacks , myst i f icat ion , sur f ing , malware attacks , or consensus-based attacks .

RISK OF SECURITY WEAKNESSES IN THE PLATFORM’S CORE INFRASTRUCTURE

SOFTWARE

The Plat form‘s core sof tware i s based on open source sof tware . There i s a r i sk that the Company team, or other th i rd part ies , may intent ional ly or unintent ional ly int roduce weaknesses or bugs into the core inf rast ructure e lements of the Plat form, by inter fer ing with the use of , or caus ing loss of , GeoToken.

RISK OF WEAKNESS OR EXPLOITABLE BREAKTHROUGH IN THE FIELD OF

CRYPTOGRAPHY

Advances in cr yptography , or technical advances such as the development of quantum computers , may present r i sks for cr ypto-currencies and the Plat form, which could result in the thef t or loss of GeoToken.


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RISK OF A GEOTOKEN MINING ATTACK

As with other decentra l ized cr yptographic tokens and cr ypto-currencies , the blockchain used for the Plat form is vulnerable to mining attacks , inc luding but not l imited to , dual -expense attacks , powerful mining attacks , se l f i sh mining attacks , and cr i t ica l compet i t ion attacks . Any successfu l attack poses a r i sk to the Plat form, the expected per formance and sequencing of the Company ’s markets . Despite the best ef forts of the Company ’s team, the r i sk of known or new mining attacks ex ists .

RISK OF THE PLATFORM FAILING TO BE USED OR ADOPTED

While GeoToken should not be cons idered an investment , thei r va lue i s bound to change over t ime. This va lue may be l imited i f the Plat form is not suf f ic ient ly used and adopted. In such a case , there could be few or no markets at the Plat form launch, which would l imit the va lue of GeoToken.

RISK OF A TIGHT MARKET FOR GEOTOKEN

There are current ly no exchanges or t rading fac i l i t ies on which GeoToken can be t raded. I f such exchanges or t rading fac i l i t ies do develop , they wi l l probably be re lat ive ly new and subject to poor ly understood regulator y overs ight . They may therefore be more vulnerable to f raud and default than the establ i shed and regulated exchanges that ex ist for other products . Should exchanges or t rading fac i l i t ies that represent a substant ia l part of the GeoToken t rading volume be involved in f raud, secur i ty fa i lures or other operat ional problems, the fa i lures of such exchanges or t rading fac i l i t ies may l imit the GeoToken va lue or l iquidi ty .

RISK OF AN UNINSURED LOSS

Unl ike bank accounts or accounts in other regulated f inancia l inst i tut ions , funds held through the Company are general ly uninsured . At present , there are no publ ic or pr ivate insurance agents prov id ing buyers with coverage against a loss of GeoToken or a loss of va lue .

RISK OF WINDING-UP OF THE THE COMPANY’S PROJECT

For a number of reasons inc luding , but not l imited to , an unfavorable f luctuat ion in GeoToken va lue , the fa i lure of bus iness re lat ionships or compet ing inte l lectual property c la ims , the Company pro ject may no longer be a v iable act iv i ty and may be dissolved or s imply not launched.


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RISK OF MALFUNCTION IN THE PLATFORM

The Plat form may be impacted by an adverse mal funct ion including , but not l imited to , a mal funct ion that resul ts in the loss of GeoToken or market informat ion .

UNFORESEEN RISKS

Cr ypto-currencies and cr yptographic tokens are a new, untested technology. In addit ion to the r i sks s t ipulated above , there are other r i sks that the Company ’s team cannot predict . R isks may a lso occur as unant ic ipated combinat ions or as changes in the r i sks s t ipulated here in .


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KNOW YOUR CUSTOMER PROCEDURES (KYC)

As part of the Know Your Customer procedure (KYC) , anyone wishing to acquire GeoToken wi l l have to prov ide the Company with the fo l lowing deta i l s v ia the dedicated ICO websi te pr ior to purchas ing GeoToken:

∞ Surname and f i r s t name ( for pr ivate indiv iduals ) / company name ( for companies ) ;

∞ Countr y of tax res idence ;

∞ Address ;

∞ E-mai l address ;

∞ [ l i s t of other kyc documents required , as the case may be] .


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APPLICABLE LAW AND JURISDICTION

This White Paper and any contractual re lat ionship ar i s ing in re lat ion with the products and ser v ices so ld by the Company are governed exclus ive ly by French law, the Company ’s commitment being subject to th is c lause .

The Part ies agree to seek an amicable sett lement pr ior to br inging any legal act ion . Fa i l ing th is , any d ispute , of any nature whatsoever , wi l l be brought express ly before the [courts of Par is ] / [ Internat ional Chamber of Commerce] , as no document can ef fect a novat ion or waiver of th is jur i sd ict ion c lause .

v

PROJECT NAME: Money By Design

TOKEN NAME: GeoToken (GTK)

LAUNCHING DATE (2018):

Private Sale: March 1st to May 31st

Pre-ICO: June 1st to September 30th

ICO : October 1st 2018 to February 28th 2019

Token total supply: 43 billionTokens to sell: 30,1 billion

Management of raised funds: escrowHolder Organization: Notary / Lawyer

Unlocking funds:

15% for blockchain technical development15% for the blockchain business developmentTotal release of funds after technical and business achievement

Total re lease of funds at the end

Payment platform: Chaineum (for cryptocurrencies and fiat currencies)

Project Leaders: Voxcracy

Legal Organization: SCIC (Cooperative Society of Collective Interest - Fr)

Token Structure:

Distribution: 70%Reserve: 10%Team: 10%Advisors: 7%Bounty: 3%

GeoToken’s Architecture: Olivier RoccaScientific Validation; Kary BheemaiahGeoToken’s Design; Pierre Corbucci B

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