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BusinessTechnologyforCryptocurrency,LLC

Cryptocurrency
Cryptocurrency isadigitalmonetaryunit(coin)thatutilizespublickeycryptographytosecure
and perform anticounterfeiting functions. Unit valuations are determined by
semiconsensual supply and demand forces within marketplaces rather than valuations
backed by other commodities such as silver or gold. Since cryptocurrencies are neither
created nor controlled by external central bank authorities, external authorities are equally
unable to influence their valuations.Monetarypolicyofcryptocurrencyforcesthatpromote
inflationaryordeflationaryeffectsonmoneysupplyarecontrolledbyalgorithmicfunctions,
ratherthanbythejudgmentofindividuals.

Bitcoin is the leading virtual currency ($4.5b market cap) that is anonymous and decoupled
from traditional banking. The Bitcoin marketplace serves as a nexus for debate between
libertarians, those who believe inthe practice of giving acentralizedgovernmentcontrolover
economic planning and policy versus those who do not, privacy advocates and others. The
efficiency of Bitcoin, being a means for the free and secure exchange of value, poses
challenging questions for (a) traditional banking that offers the same service, but at
enormously higher costs and (b) law enforcement that has a legitimate right to oversee
suspiciousactivityinthefinancialsystem.

Banks, investors and consumers are diligently learning about virtual currencies with many
who believe that virtual currency will completely displace traditional 'real currency'issuedby
sovereign states. While that scenario may appearaggressivetoday,itiseasytoimagineanear
future where a substantial portion of world economic activity takes place through virtual
currency. Communication and commerce areinternationalandinstantaneous,bankingisnot.
Thecontemporarydisconnectbetweentherealityofpeoplespersonalandconsumerlives,that
are essentially instantaneous, and their banking activity that is subjecttodelaysandfeesthat
bear no connection to the cost of the underlying service (transfer of digital value) sets the
sceneforvirtualcurrencytotakeadominantroleinanewglobaleconomy.

BusinessTechnologyforCryptocurrency,LLC

MISSION
BetheCryptocurrencyBusinessFinancialInstitutionsWanttoWorkWith

COREVALUES
Wewillsettheindustrybarforintegrityandprofessionalism
Wewilldobetterthanourlastgreatsuccess
Wewillbethebusinessothersaspiretobe
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BusinessTechnologyforCryptocurrency,LLC

Business Technology for Cryptocurrency, LLC (referred to herein as BTC or Company) is


the corporate parent entity with full ownership of GAWMiners, LLC, PayCoin, LLC and
PayBase, LLC. BTC, GAWMiners, PayCoin and PayBase are all Delaware limited liability
companies.

It is believed that PayCoin and PayBase are all Virtual Currency Businesses (VCB), a
designation used in July of 2014 by the NY Department of Financial Services to describe
businesses operating in the virtual currency space. GAWMiners, as a company operating in
the cryptocurrency mining space, is not considered to be a VCB. BTC is monitoring all legal
and financial regulatory agencies for changes relevant toourbusinesses.Further,BTCandits
subsidiaries operate under the rule of 100% compliance and are currently seeking legal
representationtoensureweare.

BTC was originally founded as GAWMiners, a Bitcoin and Litecoin mining business which
functioned as a distributor of mining equipment purchased directly from manufacturers and
resold at a profit. GAWMiners evolved to become amajorplayerinhostedandvirtualmining
progressingthrougheachstageinthedevelopmentofacompletecryptocurrencyecosystem.

In November 2014, to solidify the Companys industry leadership position, and to fully
participate intheentirecryptocurrencyecosystem,theCompanydevelopedplanstointroduce
a new cryptocurrency as well as a new payment processing system. However after consulting
with legal advisors we learned that developing a new cryptocurrency and adding a payment
processing system into our portfolio would transform ourunregulatedMiningbusinessintoa
regulated Money Services Business (MSB) engaged in currency exchange and money
transmission.

As a result, it was decided to form PayCoin, LLC to launch our new proofofstake
cryptocurrency, and PayBase, LLC as a regulated MSB offering an electronic commerce
payment processing system for individual and commercial use (GAWMiners continues to
operate as a separate unregulated electronic commercecryptocurrencyminingbusiness).The
parent company, BTC provides leadership, management and corporate support services to
GAWMiners,PayCoinandPayBase.

BTC is currently recruiting an Executive Team of topnotch financial, regulatory, IT security,


marketing and legal professionals to provide operational leadership. BTC is also recruiting a
Board of Directors which will include recognized industry and regulatory leaders to provide
governance for our operating companies. It is expected both Executive and Board recruiting
willbecompleteinQ12015.

TheCryptocurrencyMarketplace
Cryptocurrency relies on a distributed networkofnodesreachingconsensusonthelegitimacy
andownershipofindividualtransactions.Acryptocoincanonlybelongtooneaddress(wallet)
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at any given time. To enforce this, the network leverages blocks of transactions recorded toa
public ledger called the Blockchain recorded on each node on the network. The Blockchain
tracks transfers of cryptocoin to and from wallets in order to prevent counterfeiting and
doublespending.

Transactions are executed only when the networkagreesthatthecoins,beingtransferred,are


legitimately and singularly owned by the transactors, and that the sending party was the last
recorded recipient of said coins. This is performed by validatingdigitalsignaturesagainstthe
blockchainbyparticipantsinthenetwork.

Proof of Work is the protocol used by Bitcoin to secure transactions and issue newly created
Bitcoin to individuals. To prevent third parties from manipulating or creating false
transactions on the blockchain, the network employs a ProofofWork roadblock wherein
nodes on the network must find solutions to difficult mathematical equations before earning
permissiontowritetotheblockchain.

Performing this mathematical task correctly grants said node permission to write to its
blockchain. This, along with the fact that each transaction, no matter how small, must reach
agreement from the majority of the other nodes on the network, means that manipulation of
the blockchain requirescomputationalresourcesgreaterthanhalfoftheexisting,activenodes
onthenetwork.

Proofofwork requires time and energy to perform. What incentivizes individuals to connect
their nodes to the network and perform this work of validating Bitcoin transactions are that
new Bitcoin are issued to these nodes based on the number of mathematical solutions they
solve. This compensation is called the block reward. The more work a node performs, the
more transactions it verifies, andthus,themoreBitcoinsarecreatedandawardedtothenode
Miner.

Solving increasingly more difficult algorithms requires stateoftheart mining hardware


which continues to evolve with higher hashing (processing) speeds causing older Mining
hardware to become obsolete. Consequently, Miners continually invest in the equipment to
remain competitive. Recently, corporate mining data centers owned andoperatedbythevery
manufacturers of mining equipment that supply miners have sprung up. The manufacturers
are competing with the customers resulting in the commoditization of Mining in which
profitabilityisvery,veryhardtoreach.

As GAWMiners studied this economic transformation we became concerned for the futureof
the Miners who invested in and supported the growth of Bitcoin. Manufacturer vs. Miner
competition appear to us to be anunsustainablecryptocurrencybusinessmodel.Accordingly,
BTCs focus shifted to the Bitcoin business model itself ProofofWork and brought usto
theconclusiontherewasabetterway.

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BTCbelievestherearetwoflawsintheBitcoinbusinessmodel:
1. Lackofcryptocurrencyadoptionamongsttheinternationalbusinesscommunity
2. ProofofWorkmodelforMinersisnoteconomicallysustainable

BTCcreatedPayBase,LLCtomitigatethesetwoeconomicflaws.

PayBase,LLC
PayBaseTheCompany
PayBase, LLC is a U.S. based ecommerce payment gatewaybusiness facilitating online
payments and money transfers. PayBase performs ecommerce and internet payment
transactions for individuals and commercial users for which it charges a small transaction
interchange fee. PayBase also allows users to transfer funds online electronically between
individuals and businesses. Through PayBase, users can send or receive payments, purchase
orsellgoodsandservices,ordonatemoneyorreceivedonations.

PayBaseisnotclassifiedasabankintheUnitedStates,thoughthecompanyissubjectto
someoftherulesandregulationsgoverningthefinancialindustry.PayBaseisundergoingthe
processoflicensingasaMoneyServiceBusinesswiththeTreasuryaswellasfilingona
statebystatebasis.

CompetitorstoPayBaseincludeBitPay,CoinBaseandGoCoineachofwhichhaslaunched
beforePayBase.TheCompanyrecognizesthisbutbelievesstronglyinitsvaluecreationand
businessproposition.Werecognizethatpaymentsprocessingbusinessessucceedonsalesand
marketing,notontheideaalone.Ofonehundredbusinesseswiththesameidea,perhapsonly
onewillbecomeprofitable.PayBasediffersfromitscompetitorsinthatwehaveaverystrong
customerfollowingwhobelievestronglyinourmission.BTCalsoiscommittedtocoin
adoptionthegreatergoodandareactivelypromotingit.Thisresonateswithinthecrypto
currencycommunityasisevidencedbyPayCoinsrisetobecomethe#3rankedcoinby
marketcapimmediatelyuponlaunch.

CreationofCryptocurrencyAdoptionamongsttheInternationalBusinessCommunity
There currentlyisnoconcertedcryptocurrencyadoptionprogramsupportedandpromotedby
the industry because the cryptocurrency community is decentralized, and geographically
dispersed. Cryptocurrency adoption today is largely achieved by word of mouth. Bitcoins
market capitalization is currently $5b USD (December, 2014) but merchant adoption and
banking/financialservicesindustryadoptionisthebottleneck.

Discussions between BTC senior management and executives in the merchant, banking and
financial services industries revealed a strong desire by merchants, banks and financial
services businesses to enter the cryptocurrency marketplace. They recognize the industrys
strengths, see an attractive opportunity and believe they can play an important role in
maturingthecryptocurrencyindustryandhelpingtobringitmainstream.

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However the high rate of fraud (some estimates are 31%) and secrecy behind early
participants in the Bitcoin currency have prevented merchants and banks from pursuing
cryptocurrency acceptance as a viable business opportunity. Until legal standards and
financial regulatory oversight ofcryptocurrencyisfullydevelopedintheUnitedStatesthereis
noclearroadmapformerchants,banksandfinancialservicesbusinessestofollow.

PayBase was formed to help pioneer cryptocurrency adoption. We are prepared to actively
engage with U.S. legal and financial regulatory agencies responsible for cryptocurrency
oversight. We believe it is a necessary first step in developing mainstream cryptocurrency
adoption and in gaining the trust of participants in the merchant, banking and financial
services industries. We also feel it is a valuable opportunity to help shape U.S. policy for the
rapidlygrowinginternationalcryptocurrencyindustry.

All PayBase customers are Anti Money Laundering (AML) and Know Your Customer (KYC)
compliant in accordance with United States of America law. This ensures merchants, banks
and financial services businesses that PayBase customers are legitimate and safe to do
business with. PayBase uses the top third party AML/KYC compliance software system
available and is exploring the possibility of integrating with the #1 ranked compliance
softwaresystemusedbybanks.

PayBase operates with full transparency without compromising security and privacy. This
includes working with the various legal and regulatory entities to ensure PayBase is 100%
compliant with legal requirements, and ensuring PayBase is 100% compliant with financial
licensing and reporting requirements. Additionally, BTC is in discussions with recognized
regulatory law firms to enterintoaretaineragreementforguidanceandrepresentationandis
evaluating the top three IT systems used by Banks to ensure compliance and protection
againstillegalactivity.

RecentDevelopments
In November 2014, The Company held a private investor round which exceeded our
expectations. This was followed by a private round which allowed existing GAWMiners
customers to purchase PayCoin with HashPoints, aformofprefundingmechanismweputin
place in September 2014 while preparing PayCoin for launch. Wedidthisingratitudeforour
customers who have loyally supported us andcommunicatedvaluablestrategicdirectionwith
us aswedevelopedthePayBaseplatform.OnDecember13th,2014PayBaselaunchedPayCoin,
a new cryptocurrency with a $150mm market capitalization. On December 19th the PayBase
paymentprocessingsystemwillbereleasedandPayCoinwillbemadepubliclyavailable.

Onthemerchantfrontweopenedouronlinemerchandisingstoreandhavelauncheda
PayBaseMerchantServiceAppdesignedtopreparemerchantsandbusinessestoaccept
PayCoin.PayCoinownerswillhavemerchantsavailableandwillbereadyimmediatelywhen
PayCoinisreleasedtothepublic.ThemajorbenefitsofPayBaseMerchantServiceecommerce
paymentsolutionsinclude:
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Smalltransactionfees
$500MerchantsReferralBonus
AcceptedWorldwide
USAntiMoneyLaundering,SpeciallyDesignatedNationalsList(SDN)andSanctions
ProgramstheoftheU.S.DepartmentoftheTreasuryOfficeofForeignAssetControl
(OFAC)compliant

ConsumeradvantagesforPayCoinincludeusingPayBaseis:
Easierthancashoracreditcard(PayCoincreditcardisalsoavailable)
Mostsecureecommercepaymentsysteminexistence.
o EncryptedtechnologythatpreventsdatabreachesandIdentityTheft
o No personal information credit card account numbers, bank account
numbers, email addresses, home addresses, telephone numbers, etc. are
sharedwithanypersonorentity
FeeFreemoneytransfers
Fastestpaymentandmoneytransfersystemontheplanet

PayBaseTheProduct
The PayBase product combines a peertopeer networking platform with a nextgeneration
blockchain architecture to deliver a decentralized, consensusbased, fullstack platform for
developing, offering and utilizing distributed application services. A consumerfacing
application, called the PayCoin Browser, integrates the front and back ends to create an
environment in which developers ofvaryingdegreesofsophisticationcanrelativelyeasilyand
rapidlybuildsecure,scalableandinteroperabledecentralizedapplications.

Banks believe we should be charged to use our money. For everyone else, theres PayBase.
PayBase is the wallet with the security and functionality of a bank and its easy, fast and
private.

Before there were banks families and businesses would have a locked room that held locked
strongboxes. Somewhere in the mid15th century communities began the practice of
constructing a community owned building with a large lockbox in it which the community
shared to store money. While these banks did store currency and valuables they didn't pay
interestonthosedeposits.Theysimplyprovidedsafestorageandgoodaccounting.

Today, banks use thecurrencywestorewiththemforprivateinvestmentandprivategainand


to loan to people and businesses. They payusverysmallinterestratesondepositsandcharge
high interest rates on loans. Banks do not share their profits from the investments and loans
they make using depositors money and they only guarantee the security of deposits up to
$250,000.

PayBase does not invest orloanourcustomersmoneyandtheirmoneyissaferthananybank


could be because PayBaseisthewalletwiththesecurityandfunctionalityofabank.PayBase
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customers use PayBase to make purchases from major merchants at exclusive discounted
pricesreservedforPayBaseusers.

PayBase eliminates the huge network of middlemen involved in wire transfers and credit
card payments. Merchants know and appreciate this. And they reward our customers with a
discount for saving them money. With PayBase, theycanreviewandmanagetheirordersand
receipts easily consolidated in one place, monitor their spending habits and model (budget)
theirfuturespending,andexperiencethepoweroftheirbankintheirwallet.

PayBase is also very easy to use with our PayBase App. PayPass adds Check Out with
PayBase to their favorite merchants automatically and seamlessly. All they need is to
purchase with PayBase and their transaction occurs automatically withourPayPassapp.And
usingPayPassletsthemkeeptrackofeveryordernomatterwhereitwaspurchased.

PayBase protects sensitive information and we will never share it with anyone. Today,
merchants collect and storepersonalinformationintheirdatabasesandoftentimessharethat
information with others. PayBase does not shareinformationwiththemerchantwhichallows
customers toshopanywherewithoutfearofaDataBreachexposingthemtofraud.Sensitive
billing information is private and confidential, and PayBase keeps it that way. Additionally,
PayBase encrypts all data (10128 Encryption) and allows customers to close their account
anytime they choose. And if they choose to close their account all personal information is
permanentlyerased.AnddidwementiontherearenofeesforusingaPayBaseaccount?

PayCoin
PayCoin is BTCs new cryptocurrency designed to facilitate mass adoption and longterm
valuation stability. PayCoin carries with it the best features of Bitcoin while making
correctionswherenecessarytoproduceacoinnetworkfitforglobalacceptance.

PayCoinoperatesonopensourceblockchainusingtheProofofStakeprotocol.The
Blockchainallowstransactionstobeverifiedandvalidatedbytheentirenetworkthereby
enablingpeertopeeronlinetransactions.Blockchain,whichfunctionsasapublicledger,is
themostsecurerecordkeepingtechnologyavailableandfunctionsasadistributedconsensus
system,vs.atraditionalITserver/databasetechnologiesusedbybanksandfinancialservices
businesseswhichutilizeacentralizedauthoritysystem.TheBlockchainalsoincorporatefull
redundancytothousandsofcostfreenodes.

Existing cryptocurrencies fail to achieve widespread adoption, largely due to theirinabilityto


provide a stable algorithm for network participants, as well as a stable source of value for
adopters. Existing cryptocurrencies also require mining participants to invest in hardware
that is quick to obsolescence. PayCoin employs a smart ProofofStake protocol promoting
longtermsustainablepricestability.

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ProofofStakeasanEconomicallySustainableBusinessModel
ProofofStake is an alternative protocol to ProofofWork for securing transactions and
issuing new coin rewards to individuals. Rather than the ability to contribute to the
blockchain being granted by supplying computational power, access to the blockchain is
granted by ownership of the cryptocurrency itself using open wallets connected to the
cryptocurrency network. Anyone with an ownership stake in the cryptocurrency has the
abilitytoconnecttothenetworkandcontributetosecuringandprocessingtransactions,while
earningnewlyissuedcurrencybasedonthisparticipation.

This application adds incentive to hold cryptocurrency, greatly encouraging price stability,
while also rendering the observed hashing power arms race, in ProofofWork models,
potentially obsolete. This protocol also increases individual participation in the transaction
securingprocess.

In order to participate in the processing and rewards of a proofofstake currency, an


individual must hold a portion of the currency. The concept of stake creates a barrier to
entryforbadactors,whomaytrytoattackthepaymentsystem.

This, by its very nature, makes attacks more expensive as coins are not reusable for other
purposes, whereas in a ProofofWork coin, resources couldbeusedinaselfservingmanner,
being redirected towards multiple coins andtasks. PayCoinleveragesthisskininthegame
concept with its tiered controller network and exclusive barrier to entry for Primary Node
operators.

Because computational power (Mining) is greatly reduced in ProofofStake the ability for
individual Miners to continue to participate is significantly greater which ensures that a
corporate takeover of mining is minimized. PayCoin was designed to operate on the open
source Blockchain ProofofStake technology to ensure PayCoin is open toparticipationtoall
membersoftheinternationalcryptocurrencycommunity.

PayCoin Prime Controllers are a distributed high


staking transactional processing nodes that
can be acquired temporarily via a bidding system. Prime Controllers automatically adjustthe
creation rate of PayCoin in response to real market demand dynamics, creating longterm
stable valuations, and dramatically lowered transaction times over legacy cryptocurrencies,
whilealsocreatingalucrativeenvironmentformarketmakerinvestmentsinthecurrency.

PayCoin is the first cryptocurrency to employ a HybridFlex blockchain, a light, efficient,


highlysecure blockchain. TheHybridFlexmodelproducesacryptocurrencythatofferseaseof
consumer adoption and use, ease of infrastructure support, while also facilitating largescale
investor entry into the cryptocurrency industry HybridFlex also augments the creation,
managementanddeploymentofacompetitiveglobalpaymentsandcommercesystem.

PayCoinICOValuationandDistribution
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BTC does not place a cap on the number of PayCointhatcanbepurchasedbythecommunity


and thebaselineretailpriceofPayCoinwillbesetbyGAWat$20.00USD(theRetailPrice).
PayCoin is created through two processes: (1) a premining process, at theinstantthesystem
becomes operational, that will create and place a sum of PayCoin in the Initial Block of the
blockchain used for the PayCoin Platform, and (2) the ongoing miningprocesswhichsecures
thePayCoinblockchain.

PayCoin was created on an asordered basis for the InitialSalewhichtookplaceinDecember


2014. The exact amount required by BTCtofulfillallInitialSalecommitmentswascreatedby
a premining process in the Initial Block for allocation to Initial Sale Purchasers of PayCoin
(InitialSaleQuantityofPayCoin).

From theInitialSaleQuantityofPayCoin,thepreminingprocesscreatedandplacedapoolof
PayCoin in the Initial Block. This pool is used to establish a large, fiatbacked exchange to
provideasafefloorpriceandtopromotemerchantacceptance.

In addition to the Initial Sale Quantity ofPayCoin,thepreminingprocesscreatedandplaced


a second pool of PayCoin in the Initial Block. This pool was directly allocated to a Coin
Adoption Budget focused on growing merchant adoption by building payment plugins and
apps,meetinghighvolumemerchantsrequirements,andprovidingtrainingresources.

Driving adoption has always been themostdifficulttaskfacinganynewtechnology,including


cryptocurrency. BTC is placing industrychanging resources behind adoption and commitsto
making PayCoin a success. Revenue derived from PayCoin's release and continued use go
directly to a Coin Adoption Fund to further back the efforts of dedicated, fulltime staff to
ensure that PayCoin enjoys the type of widespread visibility and use that other
cryptocurrencies,includingbitcoin,havelacked.

While grassroots campaigns have seen some limited success in the past, the missing piece of
the puzzle is a truly professional, fullyfunded organizational effort to ensure that crypto
payment technology reaches the widest range of merchants possible. PayCoinslaunchfillsin
the missing piece by supporting continualadoptioneffortsbyallocatingcoinstotheAdoption
Team to allow fordevelopmentofapps,plugins,training,andeducationalresourcesaswellas
funding of the value and stability of PayCoin to both Fortune 500 companiesandthegeneral
public.

Our preallocation will allow our representatives to not only demonstrate to merchants how
PayCoin will improve their revenue models by lowering costs and increasing their volume of
sales, but also allow them to see, firsthand, how PayCoin's value remains stable in their
merchant wallets over time. In the past, 'preallocations' and 'premining' have been
indicators to investors that a coin isn't able to function on existing funding. BTC is changing
this.

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Ultimately, PayCoin's longterm value will be pinned on not only merchants adopting it as a
consumer payment method, but also on the number of transactions with suppliers and
vendors with PayCoin. In order todojustthis,areasonableinitialvolumeofPayCoinmustbe
availableimmediatelyatthetimeoflaunchtosupportmoregeneralizedusebeyondpayingfor
goodsandtradingtotraditionalcurrency.

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