Abstract
Aמּention is a necessary ingredient for effective advertising. The market for consumer aמּention (or
“eyeballs”) has become so competitive that aמּention can be regarded as a Currency or Cryptocurrency.
The rising cost of this ingredient in the marketplace is causing marketers to waste money on costly
aמּention sources or reduce their investment in promoting their brands. Instead, they should be
thinking thinking about how to “buy” cheaper aמּention and how to use it more effectively. Research in the
emerging field of the Economics of Aמּention shows how this can be achieved.
And we were pay aמּention, Here, We argue that, irrespective of the means to aמּain it, aמּention always
comes at a price. We also show that the cost of aמּention has increased dramatically (seven- to ninefold)
in the last two decades. To counteract this trend, we propose novel approaches to lower its cost
or use aמּention more efficiently by adopting multitaskertailored ads, Lean Advertising, and Viral Ad
Symbiosis. To guide the choice of which approach to take, we propose the Aמּention
contingent
Advertising Strategy or “Cost Per Action Advertising” (CPAA) Format, a framework to match the most
effective approach to the quality of aמּention contingently available. As the value of aמּention rises,
marketers need to become beמּer managers of aמּention. This whitepaper is intended to help them in
this regard.
At BitCheke, we are convinced that building a next generation ecosystem that will not just disrupt a
specific industry, but; will change the landscape in the marketing and advertising industries, with a
Aמּention- Contingent Advertising that is based on blockchain technology. The goal of this project is not
only to be able to offer a more efficient, cost effective, multitasked, intuitive platform that uses a
transparent approach to the advertising, consumers and cryptocurrency markets, using tolls that are in
existence for centuries in the Trade, Advertising, Marketing and Loyalty projects. Industry focus in the
aמּention as the main objective to globalization of this new and revolutionary approach.
With digital advertising surpassing all other forms of advertising mediums, such as media influencers
are making a great contribution to cost and implementation of an effective Marketing tool, our
approach to advertising will change the impact of “Cost Per Action” industry, incorporating the
blockchain technology to bring security in transaction, blended with a more down to earth approach
to community incentives, aim to substantially change the way mining of cryptocurrencies is done till
today, and the impact this new approach will have in the life’s o million around the world in need of a
strong helping hand to bring them out of Poverty.
We strongly believe that, to have success with our project we must first empower our users to build an
incentive and rewards driven community, as a result will affiliate millions motivated by our loyalty and
Rewrads Program that we have converted it in to our Social Mining engine, not only offering a
transparent and beneficial ecosystem to all actors involved in the process, give us the confidence to
create a solution that will be superior to all the existing solutions used around the globe.
Index Table of Contents Introduction ..................................................................................................................................... 5 What is “Social Mining” ................................................................................................................ 6 The Real Implementation of Reward as a Social Mining Tool............................................ 7 Open Governance to Incentives.................................................................................................. 7 Incentivization To Traditional Mining vs. Social Mining Incentivization........................... 8 The Problems of Bitcoin .............................................................................................................. 8 a) Too complicated ........................................................................................................................ 8 b) Not Relevant ............................................................................................................................... 9 The Solution is AdCredits Incorporation................................................................................... 10 Fast Real Implementation of UniCheke POSX......................................................................... 12 Easy Open Governance of UniCheke POSX.............................................................................. 12 Massive Incentivization to use the UniCheke POSX............................................................... 13 Our Vision .......................................................................................................................................... 13 The next billion Crypto users…….................................................................................................. 13 Our Mission ....................................................................................................................................... 14 Problems to Resolve....................................................................................................................... 14 a) Complexity………………………………………………………………………………………................................. 14 b) The Mobile Rewards Wallet………………………………………………………………............................. 14 c) The Smart Card Solution……………………………………………………………………............................. 14 d) The BitCheke Platform ………………………………………………………………………............................ 15 e) Relevance of Implementation……………………………………………………….................................. 15 f) Crypto to Fiat Conversion……………………………………………..……………………............................ 15 g) Crypto to Crypto to Fiat Conversion…………………………………………………….......................... 15 h) Fiat to Crypto how UniCheke POSX users Buy Cryptocurrency………………................... 16 Solution to the Problem................................................................................................................. 16 Effectively, UniCheke Together with BitCheke, AdCredit and Rewards will Become... 16 BitCheke Pre-Mind Token Supply and Reissuance................................................................. 17 The Shortage of Supply Translates in Higher Price………………………………………………………. 18 The Use of Rewards Social Mining as a Stabilization tool of volatility………….................. 18
Index The Opportunity to Barter Assets of Value, Goods and Services for Bitcheke in our Bartering Site………………………………………………………………………….................. 19 Implementing the Payment System and Enrolment of Merchants and Retailers to Accept AdCredit…………………………………………………………………………….................. 20 Private Placement Program (PPP) Offer Event……………………………………………………........... 21 Funds Usage ……………………………………………………………………………………………………................... Funds Usage ……………………………………………………………………………………………………................... 22 Project Time Line and Sequence of Events.......................……………………………………............. 23 Progress to Date .............................................................................................................................. 24 Compliance, LOI, KYC…………………..………………………………………………………………..…................... 24 Team………………………………………………………………………………………………………………....................... 24 Investment Risks & Indemnity………………………………..…………………………………………................ 24 Anti-Money Laundering (AML)……………………………………………………………………………............... 25 Countering the Financing of Terrorism (CFT)………………………………………………………............. 25 Purchase Obligations…………………………………………………………………………………………................. 25 Statement…………………………………………………………………………………………………………................... 25 Language ……………………………………………………………………………………………………………................ 25 Confidentiality…………………………………………………………………………………………………….................. 25 This is a Speculative Project, RoadMap..........………………………………………………………............. 26
Introduction This Project is created on the idea that it can be useful to consider the long term view in the cryptocurrency markets and the community’s impact. Seמּing our sight on 2050, is an invitation to identify the fundamental forces likely to shape the world between now and then. Understanding that the Blockchaine technology is here to stay, is why we support community base and social base integration to the cryptocurrency markets with the logic behind interaction with a system of cryptocurrency Rewrads system, combining concepts use for decades by the worldwide media industries, to create affiliation and community participation looking for immediate gratification behind what we call “Social Mining”, this is one of the key factors recognized by other experiences driving cryptocurrency success that inspire community participation. One of the major concerns when it comes to cryptocurrency is “mining”, and the ample electricity resources it needs to mine a single cryptocurrency. Previous studies have shown that the bitcoin mining industry consumes more electricity annually than mid-sized countries such as Ireland, Argentina, or Nigeria. In addition, the Digiconomist found that a single bitcoin transaction requires as much energy as the average American family home needs for one day. Since these studies, the numbers have been debated, and not without merit. It is not easy to create a statistic which is applicable to all cryptocurrency miners, especially since each cryptocurrency’ s energy resource needs is different, and so is the needs of each miner. Electrical consumption can be influenced by several external factors, such as their hardware, their mining location, etc. While the exact numbers are debatable, the indisputable fact remains that cryptocurrency mining as it stand today, especially bitcoin and ethereum mining is taking its toll on energy resources, global warming and dangerous environmental impact. While some cryptocurrencies have tried to resolve this issue by switching from a proof-of-work (PoW) to a proof-of-stake (PoS) algorithm, and others set station in Iceland using 100% green sustainable energy resources, it does not entirely solve the long term problem, especially if we use the propose statistics of future growth of this cryptocurrency industry that today represents just a 1% of the entire global economy and growing. Additionally, the cost of implementation of this mining operations, is another important issue that goes hand to hand. At the moment, cryptocurrency mining seems unsustainable and almost an irresponsible practice, especially in the light of growing ecological concerns. This is where BitCheke comes in. Bitcheke is the brainchild of its Founder Luis Camus and his South American team with an ecological and social conscience, that wishes to consolidate a love of cryptocurrency, as well as a love for the environment and its social impact that this technologies can convey. Bitcheke aims to provide the industry with a more sustainable means of crypto mining by seמּing up what is been called “Social Mining”, the basics of taking something complicated and making it simple and inexpensive, to give access to everyone that embraces this trend, impacting the world demography and conviction, to the economy and culture. Clearly, it is impossible to know for sure what the technologies of 2050 will be, just as, 30 years ago, nobody could have picture today´s world mayor changes, that concentrated in innovation of cases like Apple, Amazon, Alibaba, Facebook, Google, Netflix, Bitcoin, Ethereum and the list goes on. However, it is interesting and mind- stretching to make an educated guess. To do so, BitCheke draws on the published experiences of scientists, entrepreneurs, academics and sci-fi writers, as well as journalist from all spectrums of the markets, domestic, retail, energy and financial, the result was a rich variety of perspectives on how today’s technologies will evolve and affect us in the decades ahead. Analyzing this information that is publish and in front of everyone eyes, the analysis results is that, It has taken the form of a succession of technology “waves”, judging from the experience of recent decades, more than a dozen of such waves have rolled in since the 1950’s, from the early mainframes to today’s smart machines and the IOTA “Internet of Things”. In each wave a crowd of companies emerge, but only a few make it to the shore, only one trend is predominant in each successive wave is stronger than the last, boosted by the force of its predecessors. However impressive the changes we witness in our world today, has relatively limited transformative potential when compared with the great innovations of second half of the 19th century, where electricity, cars, indoor plumbing and modern medicine powered a century of rapid productivity growth; today, despite the spread of internet, smartphones, apps and bots, productivity and pay are rising at disappointingly slow rated. We detected that this drive and constrain changes will only increase the gap between the most poor 1/3 of the world’s population and continue concentrated efforts in making it exclusive of the technological savvy and financial savvy to succeed in this future world, we identify this as an unique opportunity, for our project to prosper in four pillars. Understanding, how do investors spot emerging cryptocurrencies ecosystems that will impact the industries trend in a more positive way? and where are they puמּing their money now? Rewards “Social Mining” is “Making what is complex, Simple”, making what is expensive unrestricted, making what is Unsafe to the environment, friendly and last the introduction of “AdCredits” the link token of value, powerful enough and simple in converting a complex technology to the masses, into a useful and worldwide convenient solution to poverty and reduce social economical gaps. What is Social Mining? A revolutionary approach to traditional Mining, providing to the everyday Joe an integration into this cryptocurrency market with very low barriers, and here is where our Social Community base project presents and introduces what is known today as “Social Mining” " Rewards" an Application developed by the Bitcheke team, today available in its Beta Light version only for Android, with the intention to lure anyone to enter the cryptocurrency world motivated by a simple process and incentives awarded every day, where anyone can download “free” the application and soon in Apple Store, the App. Provides any user the ability to declare any and all expenses they have in their everyday life, declaring it manually today, just taking a picture of the declare expenses
receipt or invoice and obtain a reimbursement of UPTO 40% of the total amount paid, no maמּer what was paid and no maמּer what form of payment was used, you are entitle to this rebate on all expenses, that is what we call Rewards by Bitcheke, the disruptive toll that will change Mining into Social Mining, to all Cryptocurrency investors and followers that are pro-environment and pro-life. The Real Implementation of Rewards a Social Mining tool. The register users of Rewrads, will start immediately collecting a 5% of all expenses declared to obtain T Rewards, and if they want to maximize the % return up to 40%, they must enter the Rewards website (www.rewards.bitcheke.com) and complete a short survey based on the users profile and this will help us create a big data service, providing the ecosystem important information to deliver marketing and promotional campaigns to the users as they are motivated to obtain the Rewards incentives, that can be used for three alternatives as a AppToken, exchange the Rewards for Bitcheke Coins that have a value today of US$0,98. Or collect and accumulate the Rewards to buy online products and services that we will publish in our own e-market place build exclusively to the Rewards community, been able to pay with the Reward token to other Reward member or the community, purchasing products and services that will cover all basic necessities of our users. The Reward platform will have its own wallet eventuality, today as the Beta Light Version the users can declare and collect Rewards, and before the end of every month, we transfer the accumulated Rewards to each users. Rewards today operates in Latin America in a Beta Light Version that has 600 subscribers, launched in January 2018, it has shown an increment in subscriber with all organic advertising, and paying close to 28,000,000 Rewards last month, expected to grow this year to 100,000 users of this social mining application. Open Governance to Incentives Because we are a Token or Asset created under the Waves Platform, we promote the use of this powerful platform, its wallet and also its Decentralized Exchange (DEX), here is where all the Reward users or Social Miners, can get the most out of this applications, with the understanding that our users, for most part are a product of a generation of gamers, who like the use of the application such as this one, motivated by the incentives and reimbursement of this % of up to 40% of all they spend money every day. Users know that in order for us to grant and transfer the declared Rewards to them they must download also the Waves Wallet App from Google or Apple stores, showing them the benefits and the opportunity to be able to convert this Rewards they mined can be converted into Bitcheke our Community Cryptocurrency. This way, users of all ages and social conditions, motivated only by the chance of an instant gratification, with this incentive, we are able to Affiliate users, that enter the Cryptocurrency world, lured only by an old marketing strategy using strategies similar to a point system, where they obtain up to 40% Reward, like making money of a receipt that normally goes into the garbage every month, and now know that this exercise of declaring any and all cost, will turn this Rewards and give them access to a cryptocurrency that has a market value and can be used in many other beneficiary ways, value that other ways for years will be lost, and just for doing the simple exercise of declaring the expenses and back it up with a pic, for free. Has capture a new users of the crypto market, that only collecting Rewards to be able to exchange them for Bitcheke, they are socially mining BCK with a social implication, to make this 40% a positive impact into the users life’s.
Incentivization To Traditional Mining vs. Social Mining Incentivization At the heart of Bitcoin’s success is the proper incentivization of stakeholders in the network, in this particular case the most important innovation was “Mining”. In order for Nakamoto consensus to work, computers need to be dedicated to securing the network and all of this compute power takes hardware and electricity. So creating an incentive produces a powerful reason for people to invest. Others such as users, investors and developers are also incentivized by bitcoin. Rewards as a Social Mining tool, that carry no implementation cost on hardware or maintenance cost of electricity, a great tool to affiliate new users, building loyalty to the Social Mining ecosystem, recognizing its intrinsic value and also adding an important ingredient, as Social Miners collect Rewards and save them every month, this form of savings produces Reserve value to the Cryptocurrency, a key ingredient to provide future value to the underline Crypto BitCheke, behind this Incentivized Social Crypto Community Ecosystem. Social Mining a great alternative to traditional Mining set by Nakamoto, today under the eyes of regulators for the negative impact is having in electricity consumption that stimulates the uses of fossil fuels to be able to satisfy the great demand for energy to run their grids, that are also very expensive to obtain and use to start Mining other Cryptos, in special de most important to the market today. The Problems with Bitcoin The biggest problem with Bitcoin at the moment is that it has not broken out into mainstream adoption. One study pegs the number of active cryptocurrency users to between 2.9 and 5.8 million by the end of 2017 and as a result of the impressive growth of the price of Bitcoin the user’s wallets registered to the main exchanges globally, raised the estimated bitcoin users to 13 Million, dropping substantially the activity in 50% of this wallets during February 2018. This paper proposes a solution for adding a billion users to the cryptocurrency movement by adding key elements missing in order to provide significant adoption by mainstream users. The next billion users have not yet entered cryptocurrency for two main reasons: a) Too complicated Cryptocurrency suffers from complexity for the average user. Managing private keys, public keys, blockchain concepts—it’s all vastly out of the reach of the average user. In some cases the next Billion users may even barely be able to operate a smartphone, unless he or she is motivated by an incentive that will change his life. At BitCheke we have a slogan that reads “Making what is complicated Simple”, this is not just a marketing tool, is a commitment with the 1/3 of the population of the world that is under poverty and another 1/3 of the world population is ignorant of the great impact this new tendency of adopting a cryptocurrency mind will bring to their life’s.
Because we developed this idea first to a more appalling, consumers oriented market place, like United States. Aﬞer our research, we know now, that regulations have cause a great damage to the possibility of new ICO's and other cryptocurrency projects to adequately promote their projects and raise funding without the pressure from the SEC, banks and the financial community that I know very well, also has invested in the blockchain technology and adopts the use of this Cryptocurrency projects like Ripple. I have look at most of the whitepaper and projects from the to 100 Cryptos out in the market today and found a common nominator, none of them considered the Latin American Market as a Target Market for expansion, because their projects in the most part just follow the same practice or bringing an open code source based in Bitcoin or Ether, supporting the traditional mining community and the POW or POS scheme. We, look at the Latam market and see the best match to our project and look at the two main factors that drive the cryptocurrency speculative value of most Cryptos today and was Utility /Usability a factor that most Cryptos are short of offering the massive use of their cryptocurrency or tokens, and the other factor driving cryptocurrency value and prices is shortage of Supply. Then, we took a hard look at the consumer's behavior, and find out that 95% of the Latam population are impulsive consumers, and love the buying power that non-bank credit give them, and are all used to the basic technological challenges they must endure to be able to do the cross over from Fiat to Crypto if the adequate incentive proposal was placed in front of them. b) Not Relevant Today, the only thing you can buy with a cryptocurrency are mainly other cryptocurrencies. The vast majority of people have no involvement with this process and no interest. Until the average user can use cryptocurrency to buy a bag of rice or a loaf of bread, or pay for lunch or dinner, but clothes or the basic necessities to survive, the relevancy of cryptocurrency will be restricted to a small exclusive audience. We, estimated only the primary target markets starting with Mexico and down the line to Chile and Argentina, with a total population estimated in 700 Million habitants, and based in the World Bank study 45,5% of this population is active today or 318,500,000 are working and consuming, we wanted to target this audience and expect that only 1% of the total active community-based would be aמּracted by the benefit of this 40% Reward that has no cost, and grant them access to a Crypto of value, that can be traded for goods and services. We, also estimated that, the average the Latam Family spend from US$500 to US$1,000 per month in basic necessities such as pay the Rent, the gas bill, water, electric bill, buy food and other priority needs, gas or transportation, entertainment, clothing, etc. And now with the incentives of Rewards, they will be able to recuperate up to 40% of those monthly expenses obtaining this Rewards, we then estimated usability base on the lower number of US$500 per month in expenses declared granting them a 40% Rewards this is a return of US$200 per month declared, with today’s BitCheke market price (February 23, 2018) at (US$0,98) they will obtain 204 Bitcheke Coins per month, one person, in a years’ time they will have 2,448 BitCheke Coins (US$2,399.04), obtained with this Social Mining Tool.
The Rewards is a great tool to create Loyalty based in the incentivization of the Social Mining, but; we needed to create another tool that will help us bound this benefits together and finally provide users with an instrument and payment system that will give them the buying power to pay for all basic and mayor necessities a family or person might have every month to maintain himself. AdCredit, was born in to the ecosystem to complete the links between all-important aspects, to turn a non-relevant technology, with a use just for a few, that traded and mined Cryptos today, converting it, into a Relevant and Useful Technology that will bring security to their lives. The solution is AdCredit incorporation Now, how AdCredit works, at this point, you may have a relatively beמּer Idea of what out project is and targets from users, providing incentives and benefits, we target their consumers profile information, to become one of the most disruptive Advertising, Marketing and payment processing ecosystem to the crypto community and to the Fiat community. All the Big data accumulated and subscriptions based Community data, will be used to enroll brands, retailers and merchants, showing to them that we have an audience, that trust our Ecosystem, and that has given a positive impact into their lives and gaining great benefits, improving their life and about to give them an additional 50% incentive on top of all was provided to them to this point with Rewards. AdCredit, is a smart contract between Bitcheke and the Brands, merchants and chain of distribution that look for a change in the impact of their consumers aמּention and cost associated to the Advertising and Marketing Industry in general, that every day cost more and more to have a positive impact into their customer aמּention and awareness, causing a selective impact to their products, if they only knew the final consumer, his habits, preference, geographic stats to drive and target customers and obtain 100% results out of every campaign where they invest millions on resources, we know for a fact that social media has pass traditional advertising channels such as TV, Newspapers, magazines, radio, and even Digital traditional internet advertising, the millennia’s generation is about social media, influencers, power driven markets that had a huge impact in others forms of advertising, and we are going to add one more. AdCredit, is a tool to motivate brands awareness and to achieve this, they must enter into a smart contract with our ecosystem, we will offer all brand the possibility to become a sponsor brand and we will do great multitasked-advertising campaigns for their products, and this approach will have "0" CERO upfront cost to the Brand, Merchants and Distributor, this revolutionary approach, will free cash flow and definitely disruptive to the advertising industry, what we will do, their brand and products will be recognized by our Rewards users base, and we can drive specific products to match an specific client based in the criteria we give to the algorithm that will search all out big data servers that hold secured all out clients data and profiles, a more effective way that any other form of advertising, is a community-based advertising, the brand does not pay any cost for all the advertising we provide, we want our clients to consume this products, because they trust us, and all the brand, retailer, merchants and E-Commerce communities we promote to our ecosystem, just need to know that all brands that are supported and advertise with our Ecosystem are benefiting from the savings and impact this will have on their consumers, just recognizing our tokens AdCredit and Rewards as two independent forms of payment and once our Rewards users understand the use and benefits of the AdCredit, they will be motivated by the incentives and Reinbustments, use this form of payment just as they use Rewards, for their benefit. When the brand recognize Bitcheke and its two tokens as forms of payment granting AdCredit the buying power to aמּain, pay, buy and consume the products affiliated, and the number of retailers, merchants and stores and services affiliation increases, they will know that by accepting AdCredits as a form of payment, they can use them to pay from 50% to 100% of the total cost of any purchase that reflects the consumption or purchase of a product under the brands name. One more thing that I forgot to mention why people will prefer to use AdCredit as a form of payment, is mainly because the users, will be able to buy this Bitcheke AdCredits at a fix rate of double the amount of BitCheke used to buy AdCredit, based in the momentum market price of the Bitcheke in the Cryptocurrency market, this in its self, motivated the buying of Bitcheke. And, use Bitcheke to buy AdCredits at a rate of 2 to 1, credited to the local market rate of the USD versus that Currency, another yet great motivation for all Rewards users to adopt and buy AdCredit that can be used to pay and buy things with our crypto. This 2 to 1, added to the 40% Reward, is a great incentive for the average person, to gain many benefits and can be translated to a Raise in income and buying power. The store owner may also use the AdCredits to offset their operational cost using the collected and accumulated AdCredits paid to them by our subscribers and users, to pay up to 50% of the cost of any additional advertising campaign they may want for us to generate or sell them using the Application that permits to sell them to another business, this may also benefit them beמּer paying advertising cost with AdCredit for a private cash seמּlement opening a secondary market just as it may be also the case with the Rewards. This is a reason why we focus to improve the Rewards wallet, providing it with the ability to transfer and pay instantly, pear to pear, user to user, without the complications of exchanges, fees, technology, that makes it, to complicate for the average person to use and benefits from this applications. Therefore, we are now introducing another great tool that only benefits the ecosystem, and because all this actions of paying with AdCredits increases de amount of Rewards, impacting the price of the cryptocurrency because of the Utility and Usability, but; also affecting dramatically the Shortage of Supply of BitCheke. Once the merchants, retailer understand that can also use the AdCredits collected from our users, they will know that they can also pay for the cost of any future order they may place for products or services associated to the Ecosystem and paid with AdCredit, they may use the AdCredits to pay up to 50% of the total cost of the future invoices, this will freed cash flow and when the brand finally receives this AdCredits as payment, they will replace its value with more products under their brand. Is here at this point when the brand is finally paying for the cost of the advertising campaign, that maybe was delivered a month ago, and now he has a tangible proof of stake of the impact of the “Cost Per Action” advertising campaigns, where the brand don’t have to pay with cash the cost of the advertising provided, and they will pay the cost with products, siמּing in storage and we are moving it this way, also when a business pays its cost of advertising using products they can also offset the cost and impact, declaring this cost as an operational cost, therefore they can even obtain a tax credit. Their advertising cost of doing business with us y close to Cero and on top they may also obtain Rewards and use this AdCredits to pay for up to 50% of other marketing and advertising campaigns and products in that area that we´ll offer. The Merchants, retailers, restaurants or any F&B business that registers, not only as a “Rewards” store, but; also place the logo at his door that Accepts AdCredits as a form of payment, and Rewards as benefits, they also don't pay any cost for the advertisement we provide on our ecosystem driving the aמּention to our subscribers to visit this stores, driven by the incentives. Because is a community-based cryptocurrency and Ecosystem, our community will benefit exclusively from all this tokens that have intrinsic value in the ecosystem and between members subscriber's to interact and exchange values, using the Rewards and AdCredit Wallet or the Waves Wallet selling each other privately AdCredits for cash or other Cryptos, the same with Bitcheke and Rewards, creating a secondary market, that will benefit the use of the Rewards and AdCredit wallet complexity free, and will be incorporating more gadgets to the Rewards wallet, such as a georeferencing API, a great tool for users, that will provide on real time the retailers, merchants, stores near you, and the possibility to submit a ratings of that store online, or read ratings entered by other users, as well as additional incentives and benefits that particular place has store for the BitCheke Ecosystem users, as gamers we will offer the opportunity of creating an avatar that will gain popularity as more use and active participation in the community, winning prices, recognitions and Crypto incentives for meeting goals, invitation to special events as the users base and subscribers, goes up the scale bases on the community participation and recognition by their peers. Another Important tool to bind all this together, providing Merchants with a simple solution to all this novelties, we needed to bring to the table a Hardware solution, that can have the power to accept this AdCredit payments, have also the ability to sell or buy our tokens just as well our Cryptocurrency and other Cryptocurrencies, generate receipts and validate Rewards, using top of the line next generation technology, we introduce BitCheke Point of Sale Unit called “UniCheke POSX”, based in an Android platform is programed to work with all out Tokens and Assets, just as well receive payments, exchange values, sell tokens and buy tokens, using the “UniCheke Card” or the Rewards Wallet. Fast Real Implementation of UniCheke POSX UniCheke POSX is a complete end-to-end solution for contactless and mobile retail point-of-sale (POS) including a full-stack reference implementation of all the components. It includes a mobile application, a contactless smart card “UniCheke Card” and point-of-sale (POS) terminals that are already in deployment. All of these components will be made widely available through our expansion plans. Easy Open Governance of the UniCheke POSX By releasing the full-stack reference implementations as open source and open specifications, we can enable ubiquitous distribution worldwide of the UniCheke POS protocols and ensure the rapid expansion of the value of the UniCheke and Bitcheke Network.
Mass Incentivization to use the UniCheke POSX The UniCheke network, incentivizes participation of merchants, through providing free hardware to retail stores in the initial target geography of Latam, Asia Markets initially. Users are incentivized to participate in the use of UniCheke and Bitcheke network through Rewards equal to the % their clients are authorized to receive in Reimbursement and ease of use and the convenience of this mobile payment through the POSX. With a solution that decreases complexity and adds relevance of cryptocurrencies to end users, we will see rapid mainstream adoption of cryptocurrencies and the merging of the crypto-economy (current estimated value in February of 170B) with the much larger mainstream economy (estimated value 214T). Subscribers and user of the BitCheke Ecosystem, will prefer to use AdCredit as a form of payment, is mainly because the users will be able to buy this Bitcheke AdCredits, at a fix rate equivalent to double the amount of BitCheke used to buy AdCredit, based in the momentum market price of the Bitcheke in the Crypto market place, this in its self, motivates users in buying of Bitcheke with the knowledge that with them they can AdCredits with a rate of 2 to 1, another great motivation for all Rewards users to adopt and buy AdCredit that can be used to pay and buy things with our crypto. This 2 to 1 AdCredit benefit, added to the existing 40% Reward, and value increase of the Crypto is a great incentive for the average person, to gain many benefits and a Raise in house hold income or buying power. Our Vision The Next Billion Crypto Users Rewards and AdCredit summed to this Uncheke application will help to generate demand for new and old, as well as big and small cryptocurrencies. No other online cryptocurrency ecosystem can bring in new cryptocurrency users from this segment and in the same number, thanks to our powerful focus on aמּracting the consumer market. From 9 million to 100 million With future growth in mind, let’s look at some relevant statistics as of October 2017 date that BitCheke was privately launched: - Bitcoin price is approximately USD$ 6,000 - Bitcoin market capitalization is approximately USD 100 billion - Trading frequency is 250,000 times - Trade volume is USD 900 million. With trading volume accounting for 1.1% of total volume, the reason bitcoin had such respectable numbers is because there may be as many as 5.8 and 11.5 million - an average of 8.7 million - active wallets. However, the global bitcoin wallet ownership numbers do not even reach 2% of the population target by our project. Just take a few seconds to absorb this information… what if we could introduce another 10 million, even 100 million users… what kind of impact would this have on the cryptocurrency landscape, especially when we refer to Bitcheke and it’s ecosystem? Source：bitcoin.com blockchain.info Our Mission The next billion Cryptocurrencies, while capturing the imagination of 8 million people has almost no meaning or value to most of the world. BitCheke with the implementation of Rewards, added to the benefits of AdCredits, integrated in to one practical platform using the UniCheke, this way seeks to bring cryptocurrency to the next Billion users. Benefits Benefits By achieving this goal, BitCheke Ecosystem will help increase the value of cryptocurrency for all users. Forecasting the market expansion to pre- mine the BitCheke, AdCredit and Rewards supply based on a simple calculation based in the % of Target market The Ecosystem is going for. Problem to Resolve a) Complexity, One of the hardest problems in crypto is how to radically reduce the complexity of handling handling cryptocurrency. BitCheke solves this problem through several end users, including a mobile wallet application free to download, that will become the only soﬞware and hardware needed to socially mine Rewards that can be converted to BitCheke and a contactless smart card that can be integrated to the UniCheke POS. b) The Mobile Reward Wallet, is a helpful component because it solves the handling of private and public keys. Instead of managing a long and complicated blockchain public key, it may be preferable for end users to simply maintain a password-based system that is much more familiar. Increasingly mobile devices can be secured by fingerprint or face recognition, so even the password may become too complex for many users and in fact a point where the complexity can help create a security risk, just as regular bank applications a 4 digit authorization PIN number will do the final authorization step.
c) The Smart Card Solution, The second layer that reduces even more complexity is the use of a smart card. The card can be used with or without the mobile app, and one member of the family could use the mobile app to charge up multiple cards that can be used by other members of the family. By empowering users with a contactless smart card, this enables users to avoid even the complexity of navigating a smartphone app. The number of transactions that can be completed are not limited to, Sell/ Buy Rewards, AdCredits and BitCheke, also been able to sell/Buy other currencies, pay for good and receive Rewards credited to your rewards wallet instantly. d) The BitCheke Platform, is the final round-up in solving the complexity issue. As a both soﬞware and hardware, the full stack implementation allows the merchants to integrate their existing POS device by connecting with the BitCheke Platform and accept payment in lieu of purchase/sale of cryptocurrencies and sale of daily goods & services. The hardware allows the use of the Smart Card and any Mobile Wallet, whereby addressing the inter-operability complexity. e) Relevance of Implementation, as mentioned before, the fact that most cryptocurrencies can only be used to buy other cryptocurrencies reduces the relevance of them to almost zero for most people. Thus the problem can be reduced to this: how can cryptocurrency be converted to fiat currencies for use in a “normal” everyday retail store to buy just about everything? And how can fiat currencies be used to buy Cryptos just about anywhere? f) Crypto to fiat convertion, the standard way in crypto banking to solve the problem of Crypto to fiat for consumers is the “Bitcoin Debit Card”. This leverages the VISA and MasterCard networks and enables users to access as many as 43 million Point of Sale (PoS) terminals around the world. One of the problems that has cropped up in this space recently is that VISA and MasterCard have both blocked the access to their networks for crypto debit cards. So for many geographies, another solution will be needed. g) Crypto to crypto to fiat, UniCheke offers support to point-of-sale devices through a full stack reference implementation of a contactless NFC mechanism that transacts directly with the cryptocurrency blockchain. The Point of Sale (POS) devices can become active on the UniCheke network through multiple means including: 1) The full UniCheke reference implementation stack. UniCheke is giving the full hardware reference implementation to retail environments as their primary POS device in the country that is implemented. 2) SDK –another easier approach is for existing POS device manufacturers to use the open source UniCheke library to support crypto to crypto to fiat transfers. 3) Mobile app—one of the easiest ways for a Point of Sale to include this payment protocol is simply to download the mobile app onto a compatible device, Some retail environments may even choose to use an Android phone or an iPhone (like the Apple Store) for customer checkout. Another approach would be to use an android or IOS tablet device with the soﬞware.
The existence of any of these solutions allows the point of sale to sell anything for cryptocurrency without the use of the VISA or Mastercard service by going directly to the cryptocurrency blockchain to record transactions. Aﬞer these transactions are recorded, the UniCheke device or API reports back to BitCheke to ensure that the merchants and retailers are paid back in fiat. h) Fiat to Crypto How do UniCheke users buy cryptocurrencies? Three primary ways: 1) The Rewards mobile wallet can allow users to directly purchase cryptocurrencies, AdCredits with Bitcheke and Rewards between peers 2) Mobile to card—users can transfer cryptocurrency from the mobile app to cards. An example of where this might be useful is if a member of the household has minor technical skills, they can set up crypto backed debit cards for the rest of the family and they don’t even need to worry about working or operating a phone app. 3) POSX to card: for the simplest use case and for users who don’t even have smartphones, the UniCheke system enables the POSX, whether it be the full hardware reference implementation, the mobile app or a tablet powered by the mobile app to directly be charged by a cryptocurrency. Solution to the Problems UniCheke aims to bring in the next billion crypto users as it allows users to buy cryptocurrency anywhere and anytime. This will make UniCheke the world’s largest decentralized, offline cryptocurrency sales network. It is ‘decentralized’ because the ecosystem and transaction records live on the blockchain. It is ‘offline’ because our entry point is via Point-of-Sale (POS) devices installed in physical outlets. UniCheke allows for five customer use cases. It enables users to: 1) Buy or Sell cryptocurrencies through a Point-of-Sale (PoS) device 2) Buy anything using cryptocurrency through the UniCheke POS device (retail point-of-sale) 3) Pay peer-to-peer using mobile (like PayPal) 4) Credit and Rewards Verification 5) Buy or Sell AdCredits with Bitcheke at the fix rate of 2 to 1. UniCheke consists of: - UniCheke Mobile App - a smartphone app used to do the following things: - buy BCK,BTC, ETH, LTC, Waves and cryptocurrency using cash or card - sell BCK,BTC, ETH, LTC, Waves and cryptocurrency for cash - top up fiat money in a digital wallet - buy utilities and services, e.g. electricity using cryptocurrency * - UniCheke card – will be the physical multi-currency wallet for fiat and cryptocurrencies available for purchase and sale via the UniCheke platform. The UniCheke card also facilitates payments via cryptocurrencies held in the card through NFC and contactless technology. - UniCheke Platform - a reference implementation stack including soﬞware and hardware that performs the full Point of Sale (POS) device function. Our reference implementation hardware is already in deployment in convenience stores and retailers, and we will further distribute the platform through open source licensing and distribution of the SDKS and open APIs.
Effectively, UniCheke together with BitCheke, AdCredits and Rewards will become: a) World’s largest offline cryptocurrency sales network by connecting existing POS devices and UniCheke devices to the UniCheke Platform. b). your very own Crypto debit card - UniCheke card. c). An Offline Crypto exchange allowing for more liquidity in cryptocurrencies BitCheke Pre-Mined Token Supply and Reissuance Look at the consumer's behavior where 95% of the Latam population are impulsive consumers, and love the buying power that non-bank credit give them, and are all used to the basic technological challenges they must have clear to be able to do the cross over, from Fiat to Crypto if the adequate proposal was placed in front of them. We estimated only the primary markets starting with Mexico and down to Chile and Argentina, with a total population of 700 Million habitants, and based in the World Bank study 45,5% of this population is active today we have a total of 318,500,000 are working, spending and consuming. We wanted to target this audience and expect that only 1% of the total active community-based would be aמּracted by the benefit of this opportunity of geמּing up to a 40% Reward, that has no cost, and grant them access to a Cryptocurrency of value that can be traded for goods and services. We also estimated that in average the Latam Family spend from US$500 to US$1,000 per month in covering all basic necessities such as pay the Rent, the gas bill, water, electric bill, buy food and other priority needs, gas or transportation, entertainment, clothing, etc. and now with Rewards as the Social Mining cost effective alternative, they will be able to recuperate up to 40% of those monthly costs and expenses, obtaining Rewards by doing the Social Mining, for the sake of this document we are going to place more weight to the forecast, we then estimated expenses per house hold in the lower part just US$500.00 (or the equivalent to your countries reality), to be declared every month assuming that they have completed the survey and have been granted a 40% Rewards through Social Mining, this is a reimbursement of US$200 per month declared in Rewards, this today at our BitCheke market price (February 24th, 2018) (USD$0,98) they will obtain 204 Bitcheke Coins per month one person, in a years’ time they will have 2,448 Coins, obtained with this Social Mining Tool. Now, if we multiply this for the 1% target this is 7 Billion and 800 Million Bitcheke Coins needed that can be Socially Mined, using the Reward Program, but; we wanted to challenge more our project, let’s say that this 40% rewards and ability to convert into a Cryptocurrency does not have the acceptance we expected, and only half of this people or half of this 1% of the 45,5% out of a total population of 700 million habitants in Latin-Americans, will be interested in free coins doing Social Mining with Rewards. We, will need 3 Billion and 900 million BitCheke coins per year to satisfy this small sector of Only the Latin-American community, not talking about Spain, or other target markets that may see this simple no cost Social Mining ability, as a way to get their hands into a crypto using this free tool, just in Latam in the next 5 years with no expansion and no growth we needed about 19 Billion BitCheke coins to satisfy this very small demand of a community Social Miners, but; will get involved base on the instant gratification and the opportunity to turn garbage into money, not throwing away the receipts, but; declaring their expenses and turn it into benefits or money, having a positive impact, every month they will increase their buying power, and Rewards Mining’s returns, will also have an impact into their households net worth and purchasing ability, granting them more Rewards every month as they incorporate the 40% rewarded and converted into fiat or is used to buy or pay for products and services, having a positive impact on their budgets and lives, with benefits no government or foundation is able to grant them as Bitcheke can with the Social Mining tool. A great tool to affiliate, creating loyalty to the product, recognizing its intrinsic value and also adding an component as they collect rewards and save them every month, this is Reserve value, a key ingredient to provide future value to the underline Crypto behind this Social Community Ecosystem. The Shortage of Supply translates in Higher Price. Now, this is not all, we are just showing the tip of the Iceberg with the Rewards as a Social Mining tool, that carry no implementation cost or maintenance cost, a great alternative to traditional mining, today under the eyes of regulators for the negative impact is having in electricity consumption that stimulates the uses of fossil fuels, to be able to satisfy the great demand for energy to run their mining grids, that are also very expensive to obtain and use to Mining Cryptos. Rewards Social Mining, is a good alternative to traditional coin mining, then we knew that we needed to have access to our tokens fast and with minimum cost to us too, and looking at other projects such as Ripple we also pre-mined and began with an initial supply of 70 Billion Bitcheke Coins, understanding that this supply at the target rate and target markets, we will have Crypto Supply for the next 9 years only, with no increment on demand, and cero growth in the markets, not even talking about the amount of coins needed for investors that will see the potential of this project and possibility that this project will value the crypto price, just half of the target market buying at today’s market price, calculating we need an additional 40Billion BitCheke Coins, on top of the 70B today in supply, with no other Markets as target. The use of Rewards Social Mining as a Stabilization tool of Volatility This bring us another important factor that negatively describes the Cryptocurrency Market today, we are referring to the Volatility, and its only motor, the speculation and market sentiment, driving prices as high as 50,000 times its initial target value, and then dropping to lower numbers losing market capitalization dramatically affecting ranking, in maמּer of hours and loyalty is out of the door, miners are of no help to bring coin stability, and here is another key factor that makes the Social Mining tool a success. Because its estimated future demand for BitCheke as the granted Rewards are converted once a month by the Apptoken users, impacting the shortage of Supply, causing the price of the Crypto to go up, and its value can move to high prices, the Rewards also become an equalizer or stabilizer to the Crypto Supply, and because we have the faculty to issue more BitCheke Cryptos, with a community consent under a voting election, this will bring the market price down having more Supply in reserves, as shortage drive it price up, we are able to stabilizer the crypto. Making it more aמּractive and at the same time we can expand to other markets, that will have the same effect to shortage of supply and market price and capitalization, that on its own may drive this Crypto to the top of charts and rankings due to this supply, price and demand formula that regulates its self in a Social Community base consent, that will vote each time the Supply is needed to be addressed having the pre notification indicator at our disposal knowing how many Rewards are Socially Mined each month and how many will be converted into Bitcheke. The balance between liquidity, price, Reserved Supply and Social Mining will ensure the stability to avoid the increment of the Price of our criptos and making it more accessible to everyone and provides a key element to be able to use a cryptocurrency as a payment tool and price products and services in Bitcheke or AdCredits. The Opportunity to Barter assets of value, goods and services for BitCheke in our Bartering site. The project as a Social Ecosystem, also contemplates the creation of a unique opportunity to give access to any average person, the possibility to enter the Cryptocurrency market even if they have no Cash to invest, but; wants a piece of the action. We also created for the Latam market MiTrueke in Spanish, that is a way to say “My Bartering Exchange”, where anyone can Exchange or Barter something of value the users wants to sell to us in exchange for our Cryptocurrency BitCheke at the fair Market Price, recuperating the 40% in Rewards of the fair market price of the Asset been Bartered this benefits apply to sellers and to buyers of this Assets, services or products for sale at the Exchange Barter site and this way, obtaining access once again to our Cryptocurrency and entered the crypto community with yet another App that grants them instant benefits and gratification, with total access to invest in our Crypto and eventually use our Gateway to other Cryptos’ that may benefit from our tools to secure monetization and value to their Cryptos’. The value sale or exchange will also pay Rewards based in the total of the contract, therefore the potential investor not only barter his assets for Bitcheke at a fair market price, but: also receive 40% in Rewards that will give them additional Bitcheke coins depending on the market price at the time of the exchange, this benefit also apply to the potential buyer of this goods and services, listed at the Bartering Exchange, the tool or site can be used to list Private sales offered to any other user, selling goods or services in exchange for BitCheke, Rewards, AdCredits or any other Cryptocurrency are accepted. Now, all of this Assets are loaded into our Bartering Exchange, where all our Reward Users may buy this assets and services paying 50% with Rewards and 50% with AdCredits. Now, we just open another door to potential investors to enter in to this crypto market selling or exchanging their value goods and assets for our Cryptocurrency and have the opportunity to convert a passive Asset into an active valued Asset, that will increase in value as the Ecosystem is used due to the underlying value of the Crypto Bitcheke and value Added and reserve value that supports the Crypto, with the Social Mining impacting positively the price affecting shortage in Supply and now with the ability to exchange assets, will provide a world of different products and Services, you may also exchange and Barter a smart contract, of value for specific services that can be also converted in to our Crypto. Providing a reserve value to all Reward users that may buy this Assets, products and services using their Socially Mined Rewards or Bitcheke Coins, there is no limits in the amount of the value of a particular Smart contract or Assets sold to the Ecosystem for BitCheke, Apartments, property, watches, cars, cameras, PC, phones anything, veterinary aמּention, medical aמּention, legal assistance, accountant, dentist, painting the house, etc. Etc. Bringing value to the underlying Crypto and greeted value and affirmative consents from the community, that has only provided with tools with cero cost or technology barriers to permit anyone to make the cross over from Fiat investing into the Cryptocurrency market. Now we have address some of the key factors that are constantly aמּacked in the industry, Warren Buffet say, intrinsic value is key factor, well we have provided with this intrinsic value within the community, to be decentralized, we provided Reserved value to the Crypto, we also stimulated shortage of supply and definitely we have provided added value and usability and a tangible value to our crypto. But, now we must increase usability to the masses, to gain great benefits using the community base cryptocurrency in our everyday life, and here is where the AdCredit Apptoken comes into play. Implementing the payment system and enrolment of merchants and retailers to accept AdCredit. All you have seen so far is a collective strategy to gain trust in the Ecosystem and manage a great combination of marketing tools to create loyalty, fidelity and support to our Crypto, that once our numbers numbers have gowned in to the millions using the Social Mining to obtain Rewards, and all the other benefits to aמּain and use Bitcheke, we collected an incredible amount of personal data from our users, we will know almost everything about them, if they own or rent, have a car or not, what bank they use, where they live, how many people in his immediate household or total family, what he/she eats, where he eats, and millions of details stored for one purpose, to generate statistics and have an audience, that trust out community-based Crypto to offer them any activity, or product that we provide them, and to double or triple our community-based ecosystem. We now approach the brands, the large corporations, the retailers and all E- market players to sum their brand to support our project, giving us the opportunity of incrementing the usage and value added power to the BitCheke Social Ecosystem, implementing an easy to use improvement to the Rewards wallet and Application, giving the users the possibility to pay with this wallet in all affiliated retailers, merchants, service providers and E-Commerce in general with the incorporation of the AdCredit token and the implementation of our UniCheke POS. Interconnected to the Rewards Wallet and Data base, that will be built in a blockchain structure for security at the most higher standards, using this wallet to pay at millions the stores worldwide, that will be also motivated in accepting this form of payment with this token, because of the Rewards that they will also gain per each purchase or payment, no maמּer what form of payment is used, if our users pay with cash, credit cards, check, BitCheke or AdCredits and as long as the user is qualify for the 40% Rewards Reimbursement, the Store owner or store wallet if registered with Rewards also receives the same % in rewards that the client is granted. As a Store and maybe has multiple stores and multiples off sales people, cashiers or Waitresses, etc. If they are all resisted, they will also get a up to the 40% Rewards granted to them, just because they accept to validate Rewards and/or honor AdCredit as a form of Payment for their products or services. Businesses can use this Rewards accumulated just as regular users do converting them in BitCheke, but; or use them to purchase and pay for products and services target for businesses and more industrial products that merchants can also buy from our B2B Barter Exchange, this way they may very well lower their operational cost buying with this great benefits and incompatible discounts. Additionally, businesses may convert the Rewrads for Bitcheke and become investors, driving the Reserve value of the Crypto community higher and impacting in a positive way the business that is now accepting payments with AdCredits, to aמּain Rewards, buying products and services that not only will improve their business, but also will free money and gain value with the BitCheke, they can obtain them, just accepting our customer base community, to pay with AdCredits and using our proprietary POS platform, to satisfy the needs of our project, giving the power to store owners, retailers and merchants adopting our system, to buy/ sell BitCheke and Rewards, grant rewards aﬞer every purchase instantly to the customer, sales person and store or retailer, and also the sales person assisting, incrementing to need for additional supply impacting the shortage of BitCheke and Rewards, driving the market price of BitCheke every time and also driving the intrinsic value of Rewards higher. Private Funding Allocation Program To raise the necessary funding to complete this project we are offering a Private Placement Program (PPP) is an innovative way to raise funds making an offer to potential investors that would like the opportunity opportunity to obtain Value tokens and a monthly release of additional Cryptos based on a bonus benefits including Rewards reimbursements for the amounts invested. Details of a PPP details for BitCheke Token sales are as follows:
For example, if JOE invest 10 Ether in week 1, according to the above schedule, and offer below he will receive 5,000 BCK tokens and additionally (35% Extra tokens) 1,750 BCK tokens each programed month for 12 month till complete a total BCK token disbursement of (22,750 + 5,000 = 27,750) Notes: - We accept ETH for BCK - Ratio of 1 ETH = 500 BCK - This PPP is not an IPO (Initial Public Offering) - Pre-PPP: will be held from March 1st 2018 till March 15th, 2018 (00:00 P.M. PST) and all investments during the Pre-PPP carry an additional incentive of 40% offered. - Token investors can email their Leמּer of Intent and KYC package to bck.privateplacement@instruction.com before the PPP to pre-register with their email address. Investors will enjoy extra benefit based on the pledged amount. - BCK amount: If this PPP does not generate 100,000,000 BCK tokens in sales, the company reserves the right to use the remaining tokens for an Additional PPP. The token price for any additional PPP would be greater than in this round, and the current token holders would also be rewarded. Fund Usage
We are planning to launch the new version of Rewards and its wallets with all the new powerful gadgets by the end of July 2018. The implementation of the POSX UniCheke will be finalized and start distribution by the end of October as we enroll brands and Merchants to accept AdCredits as form of payments. The introduction of the Blockchaine, wallets and new technologies will solidify our position in the Market Place, providing the necessary instruments to have a global expansion. Progress to Date In December 2017 we had launched the Rewards application for Chile, with an Application Beta Light, to start using the concepts and make all the necessary corrections and adjustments to improve the new version that should be available by Junes 2018. Today we have close to 600 downloads of the Rewards Application and with a 80% use sage and we have granted and transfer to date more than 40,000,000 in Rewards, people are keeping the Rewards, but they can sell them if they want. Compliance, LOI, KYC BitCheke and its associate administrator Inversiones Cheke SAC, Lima, Peru. Has designed the Compliance package to be completed by all potential investors to comply with all the regulations regarding money laundering and financing of terrorist acts. Investment Risks & Indemnity The information contained in this Offering Memorandum (or white paper, hereinaﬞer ‘Memorandum’) is intended only for the persons to whom it is transmiמּed for the purposes of evaluating BitCheke and its Ecosystem, BCK tokens offered hereby. Prospective purchasers should not only rely on the information in this Offering Memorandum. We strongly encourage Purchasers to do their own research. No persons are authorized to give any information or make any representation in respect of the Project or the Token offered herein and any such information or representation must not be relied upon. This Offering is a private placement program and is not, and under no circumstances is to be construed as, a public offering of the securities described herein. The BitCheke BCK Tokens are being offered in reliance upon exemptions from the registration and disclosure requirements set forth in applicable legislation. This Offering Memorandum does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
We are planning to launch the new version of Rewards and its wallets with all the new powerful gadgets by the end of July 2018. The implementation of the POSX UniCheke will be finalized and start distribution by the end of October as we enroll brands and Merchants to accept AdCredits as form of payments. The introduction of the Blockchaine, wallets and new technologies will solidify our position in the Market Place, providing the necessary instruments to have a global expansion. Progress to Date In December 2017 we had launched the Rewards application for Chile, with an Application Beta Light, to start using the concepts and make all the necessary corrections and adjustments to improve the new version that should be available by Junes 2018. Today we have close to 600 downloads of the Rewards Application and with a 80% use sage and we have granted and transfer to date more than 40,000,000 in Rewards, people are keeping the Rewards, but they can sell them if they want. Compliance, LOI, KYC BitCheke and its associate administrator Inversiones Cheke SAC, Lima, Peru. Has designed the Compliance package to be completed by all potential investors to comply with all the regulations regarding money laundering and financing of terrorist acts. Investment Risks & Indemnity The information contained in this Offering Memorandum (or white paper, hereinaﬞer ‘Memorandum’) is intended only for the persons to whom it is transmiמּed for the purposes of evaluating BitCheke and its Ecosystem, BCK tokens offered hereby. Prospective purchasers should not only rely on the information in this Offering Memorandum. We strongly encourage Purchasers to do their own research. No persons are authorized to give any information or make any representation in respect of the Project or the Token offered herein and any such information or representation must not be relied upon. This Offering is a private placement program and is not, and under no circumstances is to be construed as, a public offering of the securities described herein. The BitCheke BCK Tokens are being offered in reliance upon exemptions from the registration and disclosure requirements set forth in applicable legislation. This Offering Memorandum does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
persons, if any, retained to advise such person with respect thereto is unauthorized, and any disclosure of any of its contents without the prior wriמּen consent of the Corporation is prohibited. This copy of the Offering Memorandum is personal to the person to whom it is delivered and does not constitute an offer to any other person or to the public generally to subscribe for or otherwise acquire any of the securities offered hereby. THIS IS A SPECULATIVE PROJECT The offer of BitCheke BCK Tokens in this Memorandum must be regarded as highly speculative due to the nature of the Corporation’s business and its relatively early stage of development. Purchasers shall understand the underlying risk. The purchase of the tokens is suitable only for purchasers who are able to accept the risks inherent in the Project’s business. In addition, there are a number of other risk factors that should be considered by persons proposing to purchase the price to be negotiated. Purchasers should consult their own professional advisors to assess the income tax, legal and other aspects of the issue. ROADMAP
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Waves Community Token The Waves Community Token (WCT) was distributed to WAVES holders on a monthly basis, in proportion to their average balance over the course of the previous month. One of its primary purposes is to encourage long-term holding of WAVES, and for users to keep their balances in local wallets rather than on exchanges, for security reasons. WCT will also be used as a form of collective due diligence for new token projects, allowing the community to vote on the perceived viability and legitimacy of forthcoming crowdsales Algorithm Waves’ blockchain consensus algorithm is Waves-NG, which is based on the Bitcoin-NG proposal created by Emin Gun. Bitcoin-NG was designed to increase transaction throughput on the bitcoin blockchain: ‘the system can at best achieve a modest transaction throughput, rising from ~3 transactions per second to ~6 transactions per second if the block size is doubled. This is far from the 30,000 transactions per second necessary to compete with the likes of VISA transactions. The same fundamental limitations apply to Ethereum, Litecoin, Dogecoin, and all other currencies that share Bitcoin’s blockchain management protocol. In Bitcoin, the system generates a retrospective block that encases in cryptographic stone the transactions that took place in the preceding 10 minutes. In Bitcoin-NG, the protocol is, instead, forward-looking: every 10 minutes, NG elects a leader, who then vets future transactions as soon as they happen. The former is necessarily limited by the block size and block interval, while the laמּer approach can run as fast as the network will allow.’ This approach has been adapted to Waves’ proof-of-stake model, theoretically enabling hundreds of transactions per second. Smart contracts Waves was designed for custom tokens operations, but Ivanov has stated that ‘some form of smart contracts’ will be included in the platform. Aﬞer the exploit in The DAO and subsequent hardfork of the Ethereum blockchain, Ivanov has said that there would be Waves’ smart contracts that are not turing complete but will allow most business operations without the risks inherent in offering such universal capabilities. According to the most recent development roadmap, published by The Waves Platform, Smart Contracts (non Turing) are scheduled to be added to Full Node soﬞware builds during Q1, 2018 and Turing complete smart contracts are scheduled during Q4, 2018.
DEX (Exchange) The decentralised exchange (DEX) is integrated within the wallet. This allows users to trade tokens on a peer-to-peer basis. The DEX uses centralised ‘Matcher’ nodes, which pair orders and execute trades in near-realtime, whilst ultimate seמּlement is carried out on the blockchain for security. Fiat Gateways Fiat Gateways such as USD/EUR/CNY will allow you to exchange any token issued on the Waves platform (or any other cryptocurrency like BTC/ETH) for “real” money, which can be deposited in a bank Coins vs Tokens: Categorization of Cryptocurrencies
It is important to note that all coins or tokens are regarded as cryptocurrencies, even if most of the coins do not function as a currency or medium of exchange. The term cryptocurrency is a misnomer since a currency technically represents a unit of account, a store of value and a medium of exchange. All these characteristics are inherent within Bitcoin, and since the cryptocurrency space was kickstarted by Bitcoin’s creation, any other coins conceived aﬞer Bitcoin is generally considered as a cryptocurrency, though most do not fulfil the aforementioned characteristics of an actual currency. The most common categorization of cryptocurrencies are: 1. Alternative Cryptocurrency Coins (Altcoins) 2. Tokens AltCoins: Alternative cryptocurrency coins are also called altcoins or simply “coins”. They’re oﬞen used interchangeably. Altcoins simply refers to coins that are an alternative to Bitcoin. The majority of altcoins are a variant (fork) of Bitcoin, built using Bitcoin’s open-sourced, original protocol with changes to its underlying codes, therefore conceiving an entirely new coin with a different set of features. Here’s an article that simplifies the concept of forks, hard forks and soﬞ forks: Guide to Forks: Everything You Need to Know About Forks, Hard Fork and Soﬞ Fork. Examples of altcoins that are variants of Bitcoins codes are Namecoin, Peercoin, Litecoin, Dogecoin and Auroracoin. Tokens: Token is a cryptocurrency that requires another platform to exist and operate and are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies! Tokens are created and distributed to the public through an Initial Coin Offering (ICO), which is a means of crowdfunding, through the release of a new cryptocurrency or token to fund project development. It is similar to an Initial Public Offering (IPO) for stocks. The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications. So, BitCheke is a Cryptocurrency created since Waves as Token
Index Table of Contents Introduction ..................................................................................................................................... 5 What is “Social Mining” ................................................................................................................ 6 The Real Implementation of Reward as a Social Mining Tool............................................ 7 Open Governance to Incentives.................................................................................................. 7 Incentivization To Traditional Mining vs. Social Mining Incentivization........................... 8 The Problems of Bitcoin .............................................................................................................. 8 a) Too complicated ........................................................................................................................ 8 b) Not Relevant ............................................................................................................................... 9 The Solution is AdCredits Incorporation................................................................................... 10 Fast Real Implementation of UniCheke POSX......................................................................... 12 Easy Open Governance of UniCheke POSX.............................................................................. 12 Massive Incentivization to use the UniCheke POSX............................................................... 13 Our Vision .......................................................................................................................................... 13 The next billion Crypto users…….................................................................................................. 13 Our Mission ....................................................................................................................................... 14 Problems to Resolve....................................................................................................................... 14 a) Complexity………………………………………………………………………………………................................. 14 b) The Mobile Rewards Wallet………………………………………………………………............................. 14 c) The Smart Card Solution……………………………………………………………………............................. 14 d) The BitCheke Platform ………………………………………………………………………............................ 15 e) Relevance of Implementation……………………………………………………….................................. 15 f) Crypto to Fiat Conversion……………………………………………..……………………............................ 15 g) Crypto to Crypto to Fiat Conversion…………………………………………………….......................... 15 h) Fiat to Crypto how UniCheke POSX users Buy Cryptocurrency………………................... 16 Solution to the Problem................................................................................................................. 16 Effectively, UniCheke Together with BitCheke, AdCredit and Rewards will Become... 16 BitCheke Pre-Mind Token Supply and Reissuance................................................................. 17 The Shortage of Supply Translates in Higher Price………………………………………………………. 18 The Use of Rewards Social Mining as a Stabilization tool of volatility………….................. 18
Index The Opportunity to Barter Assets of Value, Goods and Services for Bitcheke in our Bartering Site………………………………………………………………………….................. 19 Implementing the Payment System and Enrolment of Merchants and Retailers to Accept AdCredit…………………………………………………………………………….................. 20 Private Placement Program (PPP) Offer Event……………………………………………………........... 21 Funds Usage ……………………………………………………………………………………………………................... Funds Usage ……………………………………………………………………………………………………................... 22 Project Time Line and Sequence of Events.......................……………………………………............. 23 Progress to Date .............................................................................................................................. 24 Compliance, LOI, KYC…………………..………………………………………………………………..…................... 24 Team………………………………………………………………………………………………………………....................... 24 Investment Risks & Indemnity………………………………..…………………………………………................ 24 Anti-Money Laundering (AML)……………………………………………………………………………............... 25 Countering the Financing of Terrorism (CFT)………………………………………………………............. 25 Purchase Obligations…………………………………………………………………………………………................. 25 Statement…………………………………………………………………………………………………………................... 25 Language ……………………………………………………………………………………………………………................ 25 Confidentiality…………………………………………………………………………………………………….................. 25 This is a Speculative Project, RoadMap..........………………………………………………………............. 26
Introduction This Project is created on the idea that it can be useful to consider the long term view in the cryptocurrency markets and the community’s impact. Seמּing our sight on 2050, is an invitation to identify the fundamental forces likely to shape the world between now and then. Understanding that the Blockchaine technology is here to stay, is why we support community base and social base integration to the cryptocurrency markets with the logic behind interaction with a system of cryptocurrency Rewrads system, combining concepts use for decades by the worldwide media industries, to create affiliation and community participation looking for immediate gratification behind what we call “Social Mining”, this is one of the key factors recognized by other experiences driving cryptocurrency success that inspire community participation. One of the major concerns when it comes to cryptocurrency is “mining”, and the ample electricity resources it needs to mine a single cryptocurrency. Previous studies have shown that the bitcoin mining industry consumes more electricity annually than mid-sized countries such as Ireland, Argentina, or Nigeria. In addition, the Digiconomist found that a single bitcoin transaction requires as much energy as the average American family home needs for one day. Since these studies, the numbers have been debated, and not without merit. It is not easy to create a statistic which is applicable to all cryptocurrency miners, especially since each cryptocurrency’ s energy resource needs is different, and so is the needs of each miner. Electrical consumption can be influenced by several external factors, such as their hardware, their mining location, etc. While the exact numbers are debatable, the indisputable fact remains that cryptocurrency mining as it stand today, especially bitcoin and ethereum mining is taking its toll on energy resources, global warming and dangerous environmental impact. While some cryptocurrencies have tried to resolve this issue by switching from a proof-of-work (PoW) to a proof-of-stake (PoS) algorithm, and others set station in Iceland using 100% green sustainable energy resources, it does not entirely solve the long term problem, especially if we use the propose statistics of future growth of this cryptocurrency industry that today represents just a 1% of the entire global economy and growing. Additionally, the cost of implementation of this mining operations, is another important issue that goes hand to hand. At the moment, cryptocurrency mining seems unsustainable and almost an irresponsible practice, especially in the light of growing ecological concerns. This is where BitCheke comes in. Bitcheke is the brainchild of its Founder Luis Camus and his South American team with an ecological and social conscience, that wishes to consolidate a love of cryptocurrency, as well as a love for the environment and its social impact that this technologies can convey. Bitcheke aims to provide the industry with a more sustainable means of crypto mining by seמּing up what is been called “Social Mining”, the basics of taking something complicated and making it simple and inexpensive, to give access to everyone that embraces this trend, impacting the world demography and conviction, to the economy and culture. Clearly, it is impossible to know for sure what the technologies of 2050 will be, just as, 30 years ago, nobody could have picture today´s world mayor changes, that concentrated in innovation of cases like Apple, Amazon, Alibaba, Facebook, Google, Netflix, Bitcoin, Ethereum and the list goes on. However, it is interesting and mind- stretching to make an educated guess. To do so, BitCheke draws on the published experiences of scientists, entrepreneurs, academics and sci-fi writers, as well as journalist from all spectrums of the markets, domestic, retail, energy and financial, the result was a rich variety of perspectives on how today’s technologies will evolve and affect us in the decades ahead. Analyzing this information that is publish and in front of everyone eyes, the analysis results is that, It has taken the form of a succession of technology “waves”, judging from the experience of recent decades, more than a dozen of such waves have rolled in since the 1950’s, from the early mainframes to today’s smart machines and the IOTA “Internet of Things”. In each wave a crowd of companies emerge, but only a few make it to the shore, only one trend is predominant in each successive wave is stronger than the last, boosted by the force of its predecessors. However impressive the changes we witness in our world today, has relatively limited transformative potential when compared with the great innovations of second half of the 19th century, where electricity, cars, indoor plumbing and modern medicine powered a century of rapid productivity growth; today, despite the spread of internet, smartphones, apps and bots, productivity and pay are rising at disappointingly slow rated. We detected that this drive and constrain changes will only increase the gap between the most poor 1/3 of the world’s population and continue concentrated efforts in making it exclusive of the technological savvy and financial savvy to succeed in this future world, we identify this as an unique opportunity, for our project to prosper in four pillars. Understanding, how do investors spot emerging cryptocurrencies ecosystems that will impact the industries trend in a more positive way? and where are they puמּing their money now? Rewards “Social Mining” is “Making what is complex, Simple”, making what is expensive unrestricted, making what is Unsafe to the environment, friendly and last the introduction of “AdCredits” the link token of value, powerful enough and simple in converting a complex technology to the masses, into a useful and worldwide convenient solution to poverty and reduce social economical gaps. What is Social Mining? A revolutionary approach to traditional Mining, providing to the everyday Joe an integration into this cryptocurrency market with very low barriers, and here is where our Social Community base project presents and introduces what is known today as “Social Mining” " Rewards" an Application developed by the Bitcheke team, today available in its Beta Light version only for Android, with the intention to lure anyone to enter the cryptocurrency world motivated by a simple process and incentives awarded every day, where anyone can download “free” the application and soon in Apple Store, the App. Provides any user the ability to declare any and all expenses they have in their everyday life, declaring it manually today, just taking a picture of the declare expenses
receipt or invoice and obtain a reimbursement of UPTO 40% of the total amount paid, no maמּer what was paid and no maמּer what form of payment was used, you are entitle to this rebate on all expenses, that is what we call Rewards by Bitcheke, the disruptive toll that will change Mining into Social Mining, to all Cryptocurrency investors and followers that are pro-environment and pro-life. The Real Implementation of Rewards a Social Mining tool. The register users of Rewrads, will start immediately collecting a 5% of all expenses declared to obtain T Rewards, and if they want to maximize the % return up to 40%, they must enter the Rewards website (www.rewards.bitcheke.com) and complete a short survey based on the users profile and this will help us create a big data service, providing the ecosystem important information to deliver marketing and promotional campaigns to the users as they are motivated to obtain the Rewards incentives, that can be used for three alternatives as a AppToken, exchange the Rewards for Bitcheke Coins that have a value today of US$0,98. Or collect and accumulate the Rewards to buy online products and services that we will publish in our own e-market place build exclusively to the Rewards community, been able to pay with the Reward token to other Reward member or the community, purchasing products and services that will cover all basic necessities of our users. The Reward platform will have its own wallet eventuality, today as the Beta Light Version the users can declare and collect Rewards, and before the end of every month, we transfer the accumulated Rewards to each users. Rewards today operates in Latin America in a Beta Light Version that has 600 subscribers, launched in January 2018, it has shown an increment in subscriber with all organic advertising, and paying close to 28,000,000 Rewards last month, expected to grow this year to 100,000 users of this social mining application. Open Governance to Incentives Because we are a Token or Asset created under the Waves Platform, we promote the use of this powerful platform, its wallet and also its Decentralized Exchange (DEX), here is where all the Reward users or Social Miners, can get the most out of this applications, with the understanding that our users, for most part are a product of a generation of gamers, who like the use of the application such as this one, motivated by the incentives and reimbursement of this % of up to 40% of all they spend money every day. Users know that in order for us to grant and transfer the declared Rewards to them they must download also the Waves Wallet App from Google or Apple stores, showing them the benefits and the opportunity to be able to convert this Rewards they mined can be converted into Bitcheke our Community Cryptocurrency. This way, users of all ages and social conditions, motivated only by the chance of an instant gratification, with this incentive, we are able to Affiliate users, that enter the Cryptocurrency world, lured only by an old marketing strategy using strategies similar to a point system, where they obtain up to 40% Reward, like making money of a receipt that normally goes into the garbage every month, and now know that this exercise of declaring any and all cost, will turn this Rewards and give them access to a cryptocurrency that has a market value and can be used in many other beneficiary ways, value that other ways for years will be lost, and just for doing the simple exercise of declaring the expenses and back it up with a pic, for free. Has capture a new users of the crypto market, that only collecting Rewards to be able to exchange them for Bitcheke, they are socially mining BCK with a social implication, to make this 40% a positive impact into the users life’s.
Incentivization To Traditional Mining vs. Social Mining Incentivization At the heart of Bitcoin’s success is the proper incentivization of stakeholders in the network, in this particular case the most important innovation was “Mining”. In order for Nakamoto consensus to work, computers need to be dedicated to securing the network and all of this compute power takes hardware and electricity. So creating an incentive produces a powerful reason for people to invest. Others such as users, investors and developers are also incentivized by bitcoin. Rewards as a Social Mining tool, that carry no implementation cost on hardware or maintenance cost of electricity, a great tool to affiliate new users, building loyalty to the Social Mining ecosystem, recognizing its intrinsic value and also adding an important ingredient, as Social Miners collect Rewards and save them every month, this form of savings produces Reserve value to the Cryptocurrency, a key ingredient to provide future value to the underline Crypto BitCheke, behind this Incentivized Social Crypto Community Ecosystem. Social Mining a great alternative to traditional Mining set by Nakamoto, today under the eyes of regulators for the negative impact is having in electricity consumption that stimulates the uses of fossil fuels to be able to satisfy the great demand for energy to run their grids, that are also very expensive to obtain and use to start Mining other Cryptos, in special de most important to the market today. The Problems with Bitcoin The biggest problem with Bitcoin at the moment is that it has not broken out into mainstream adoption. One study pegs the number of active cryptocurrency users to between 2.9 and 5.8 million by the end of 2017 and as a result of the impressive growth of the price of Bitcoin the user’s wallets registered to the main exchanges globally, raised the estimated bitcoin users to 13 Million, dropping substantially the activity in 50% of this wallets during February 2018. This paper proposes a solution for adding a billion users to the cryptocurrency movement by adding key elements missing in order to provide significant adoption by mainstream users. The next billion users have not yet entered cryptocurrency for two main reasons: a) Too complicated Cryptocurrency suffers from complexity for the average user. Managing private keys, public keys, blockchain concepts—it’s all vastly out of the reach of the average user. In some cases the next Billion users may even barely be able to operate a smartphone, unless he or she is motivated by an incentive that will change his life. At BitCheke we have a slogan that reads “Making what is complicated Simple”, this is not just a marketing tool, is a commitment with the 1/3 of the population of the world that is under poverty and another 1/3 of the world population is ignorant of the great impact this new tendency of adopting a cryptocurrency mind will bring to their life’s.
Because we developed this idea first to a more appalling, consumers oriented market place, like United States. Aﬞer our research, we know now, that regulations have cause a great damage to the possibility of new ICO's and other cryptocurrency projects to adequately promote their projects and raise funding without the pressure from the SEC, banks and the financial community that I know very well, also has invested in the blockchain technology and adopts the use of this Cryptocurrency projects like Ripple. I have look at most of the whitepaper and projects from the to 100 Cryptos out in the market today and found a common nominator, none of them considered the Latin American Market as a Target Market for expansion, because their projects in the most part just follow the same practice or bringing an open code source based in Bitcoin or Ether, supporting the traditional mining community and the POW or POS scheme. We, look at the Latam market and see the best match to our project and look at the two main factors that drive the cryptocurrency speculative value of most Cryptos today and was Utility /Usability a factor that most Cryptos are short of offering the massive use of their cryptocurrency or tokens, and the other factor driving cryptocurrency value and prices is shortage of Supply. Then, we took a hard look at the consumer's behavior, and find out that 95% of the Latam population are impulsive consumers, and love the buying power that non-bank credit give them, and are all used to the basic technological challenges they must endure to be able to do the cross over from Fiat to Crypto if the adequate incentive proposal was placed in front of them. b) Not Relevant Today, the only thing you can buy with a cryptocurrency are mainly other cryptocurrencies. The vast majority of people have no involvement with this process and no interest. Until the average user can use cryptocurrency to buy a bag of rice or a loaf of bread, or pay for lunch or dinner, but clothes or the basic necessities to survive, the relevancy of cryptocurrency will be restricted to a small exclusive audience. We, estimated only the primary target markets starting with Mexico and down the line to Chile and Argentina, with a total population estimated in 700 Million habitants, and based in the World Bank study 45,5% of this population is active today or 318,500,000 are working and consuming, we wanted to target this audience and expect that only 1% of the total active community-based would be aמּracted by the benefit of this 40% Reward that has no cost, and grant them access to a Crypto of value, that can be traded for goods and services. We, also estimated that, the average the Latam Family spend from US$500 to US$1,000 per month in basic necessities such as pay the Rent, the gas bill, water, electric bill, buy food and other priority needs, gas or transportation, entertainment, clothing, etc. And now with the incentives of Rewards, they will be able to recuperate up to 40% of those monthly expenses obtaining this Rewards, we then estimated usability base on the lower number of US$500 per month in expenses declared granting them a 40% Rewards this is a return of US$200 per month declared, with today’s BitCheke market price (February 23, 2018) at (US$0,98) they will obtain 204 Bitcheke Coins per month, one person, in a years’ time they will have 2,448 BitCheke Coins (US$2,399.04), obtained with this Social Mining Tool.
The Rewards is a great tool to create Loyalty based in the incentivization of the Social Mining, but; we needed to create another tool that will help us bound this benefits together and finally provide users with an instrument and payment system that will give them the buying power to pay for all basic and mayor necessities a family or person might have every month to maintain himself. AdCredit, was born in to the ecosystem to complete the links between all-important aspects, to turn a non-relevant technology, with a use just for a few, that traded and mined Cryptos today, converting it, into a Relevant and Useful Technology that will bring security to their lives. The solution is AdCredit incorporation Now, how AdCredit works, at this point, you may have a relatively beמּer Idea of what out project is and targets from users, providing incentives and benefits, we target their consumers profile information, to become one of the most disruptive Advertising, Marketing and payment processing ecosystem to the crypto community and to the Fiat community. All the Big data accumulated and subscriptions based Community data, will be used to enroll brands, retailers and merchants, showing to them that we have an audience, that trust our Ecosystem, and that has given a positive impact into their lives and gaining great benefits, improving their life and about to give them an additional 50% incentive on top of all was provided to them to this point with Rewards. AdCredit, is a smart contract between Bitcheke and the Brands, merchants and chain of distribution that look for a change in the impact of their consumers aמּention and cost associated to the Advertising and Marketing Industry in general, that every day cost more and more to have a positive impact into their customer aמּention and awareness, causing a selective impact to their products, if they only knew the final consumer, his habits, preference, geographic stats to drive and target customers and obtain 100% results out of every campaign where they invest millions on resources, we know for a fact that social media has pass traditional advertising channels such as TV, Newspapers, magazines, radio, and even Digital traditional internet advertising, the millennia’s generation is about social media, influencers, power driven markets that had a huge impact in others forms of advertising, and we are going to add one more. AdCredit, is a tool to motivate brands awareness and to achieve this, they must enter into a smart contract with our ecosystem, we will offer all brand the possibility to become a sponsor brand and we will do great multitasked-advertising campaigns for their products, and this approach will have "0" CERO upfront cost to the Brand, Merchants and Distributor, this revolutionary approach, will free cash flow and definitely disruptive to the advertising industry, what we will do, their brand and products will be recognized by our Rewards users base, and we can drive specific products to match an specific client based in the criteria we give to the algorithm that will search all out big data servers that hold secured all out clients data and profiles, a more effective way that any other form of advertising, is a community-based advertising, the brand does not pay any cost for all the advertising we provide, we want our clients to consume this products, because they trust us, and all the brand, retailer, merchants and E-Commerce communities we promote to our ecosystem, just need to know that all brands that are supported and advertise with our Ecosystem are benefiting from the savings and impact this will have on their consumers, just recognizing our tokens AdCredit and Rewards as two independent forms of payment and once our Rewards users understand the use and benefits of the AdCredit, they will be motivated by the incentives and Reinbustments, use this form of payment just as they use Rewards, for their benefit. When the brand recognize Bitcheke and its two tokens as forms of payment granting AdCredit the buying power to aמּain, pay, buy and consume the products affiliated, and the number of retailers, merchants and stores and services affiliation increases, they will know that by accepting AdCredits as a form of payment, they can use them to pay from 50% to 100% of the total cost of any purchase that reflects the consumption or purchase of a product under the brands name. One more thing that I forgot to mention why people will prefer to use AdCredit as a form of payment, is mainly because the users, will be able to buy this Bitcheke AdCredits at a fix rate of double the amount of BitCheke used to buy AdCredit, based in the momentum market price of the Bitcheke in the Cryptocurrency market, this in its self, motivated the buying of Bitcheke. And, use Bitcheke to buy AdCredits at a rate of 2 to 1, credited to the local market rate of the USD versus that Currency, another yet great motivation for all Rewards users to adopt and buy AdCredit that can be used to pay and buy things with our crypto. This 2 to 1, added to the 40% Reward, is a great incentive for the average person, to gain many benefits and can be translated to a Raise in income and buying power. The store owner may also use the AdCredits to offset their operational cost using the collected and accumulated AdCredits paid to them by our subscribers and users, to pay up to 50% of the cost of any additional advertising campaign they may want for us to generate or sell them using the Application that permits to sell them to another business, this may also benefit them beמּer paying advertising cost with AdCredit for a private cash seמּlement opening a secondary market just as it may be also the case with the Rewards. This is a reason why we focus to improve the Rewards wallet, providing it with the ability to transfer and pay instantly, pear to pear, user to user, without the complications of exchanges, fees, technology, that makes it, to complicate for the average person to use and benefits from this applications. Therefore, we are now introducing another great tool that only benefits the ecosystem, and because all this actions of paying with AdCredits increases de amount of Rewards, impacting the price of the cryptocurrency because of the Utility and Usability, but; also affecting dramatically the Shortage of Supply of BitCheke. Once the merchants, retailer understand that can also use the AdCredits collected from our users, they will know that they can also pay for the cost of any future order they may place for products or services associated to the Ecosystem and paid with AdCredit, they may use the AdCredits to pay up to 50% of the total cost of the future invoices, this will freed cash flow and when the brand finally receives this AdCredits as payment, they will replace its value with more products under their brand. Is here at this point when the brand is finally paying for the cost of the advertising campaign, that maybe was delivered a month ago, and now he has a tangible proof of stake of the impact of the “Cost Per Action” advertising campaigns, where the brand don’t have to pay with cash the cost of the advertising provided, and they will pay the cost with products, siמּing in storage and we are moving it this way, also when a business pays its cost of advertising using products they can also offset the cost and impact, declaring this cost as an operational cost, therefore they can even obtain a tax credit. Their advertising cost of doing business with us y close to Cero and on top they may also obtain Rewards and use this AdCredits to pay for up to 50% of other marketing and advertising campaigns and products in that area that we´ll offer. The Merchants, retailers, restaurants or any F&B business that registers, not only as a “Rewards” store, but; also place the logo at his door that Accepts AdCredits as a form of payment, and Rewards as benefits, they also don't pay any cost for the advertisement we provide on our ecosystem driving the aמּention to our subscribers to visit this stores, driven by the incentives. Because is a community-based cryptocurrency and Ecosystem, our community will benefit exclusively from all this tokens that have intrinsic value in the ecosystem and between members subscriber's to interact and exchange values, using the Rewards and AdCredit Wallet or the Waves Wallet selling each other privately AdCredits for cash or other Cryptos, the same with Bitcheke and Rewards, creating a secondary market, that will benefit the use of the Rewards and AdCredit wallet complexity free, and will be incorporating more gadgets to the Rewards wallet, such as a georeferencing API, a great tool for users, that will provide on real time the retailers, merchants, stores near you, and the possibility to submit a ratings of that store online, or read ratings entered by other users, as well as additional incentives and benefits that particular place has store for the BitCheke Ecosystem users, as gamers we will offer the opportunity of creating an avatar that will gain popularity as more use and active participation in the community, winning prices, recognitions and Crypto incentives for meeting goals, invitation to special events as the users base and subscribers, goes up the scale bases on the community participation and recognition by their peers. Another Important tool to bind all this together, providing Merchants with a simple solution to all this novelties, we needed to bring to the table a Hardware solution, that can have the power to accept this AdCredit payments, have also the ability to sell or buy our tokens just as well our Cryptocurrency and other Cryptocurrencies, generate receipts and validate Rewards, using top of the line next generation technology, we introduce BitCheke Point of Sale Unit called “UniCheke POSX”, based in an Android platform is programed to work with all out Tokens and Assets, just as well receive payments, exchange values, sell tokens and buy tokens, using the “UniCheke Card” or the Rewards Wallet. Fast Real Implementation of UniCheke POSX UniCheke POSX is a complete end-to-end solution for contactless and mobile retail point-of-sale (POS) including a full-stack reference implementation of all the components. It includes a mobile application, a contactless smart card “UniCheke Card” and point-of-sale (POS) terminals that are already in deployment. All of these components will be made widely available through our expansion plans. Easy Open Governance of the UniCheke POSX By releasing the full-stack reference implementations as open source and open specifications, we can enable ubiquitous distribution worldwide of the UniCheke POS protocols and ensure the rapid expansion of the value of the UniCheke and Bitcheke Network.
Mass Incentivization to use the UniCheke POSX The UniCheke network, incentivizes participation of merchants, through providing free hardware to retail stores in the initial target geography of Latam, Asia Markets initially. Users are incentivized to participate in the use of UniCheke and Bitcheke network through Rewards equal to the % their clients are authorized to receive in Reimbursement and ease of use and the convenience of this mobile payment through the POSX. With a solution that decreases complexity and adds relevance of cryptocurrencies to end users, we will see rapid mainstream adoption of cryptocurrencies and the merging of the crypto-economy (current estimated value in February of 170B) with the much larger mainstream economy (estimated value 214T). Subscribers and user of the BitCheke Ecosystem, will prefer to use AdCredit as a form of payment, is mainly because the users will be able to buy this Bitcheke AdCredits, at a fix rate equivalent to double the amount of BitCheke used to buy AdCredit, based in the momentum market price of the Bitcheke in the Crypto market place, this in its self, motivates users in buying of Bitcheke with the knowledge that with them they can AdCredits with a rate of 2 to 1, another great motivation for all Rewards users to adopt and buy AdCredit that can be used to pay and buy things with our crypto. This 2 to 1 AdCredit benefit, added to the existing 40% Reward, and value increase of the Crypto is a great incentive for the average person, to gain many benefits and a Raise in house hold income or buying power. Our Vision The Next Billion Crypto Users Rewards and AdCredit summed to this Uncheke application will help to generate demand for new and old, as well as big and small cryptocurrencies. No other online cryptocurrency ecosystem can bring in new cryptocurrency users from this segment and in the same number, thanks to our powerful focus on aמּracting the consumer market. From 9 million to 100 million With future growth in mind, let’s look at some relevant statistics as of October 2017 date that BitCheke was privately launched: - Bitcoin price is approximately USD$ 6,000 - Bitcoin market capitalization is approximately USD 100 billion - Trading frequency is 250,000 times - Trade volume is USD 900 million. With trading volume accounting for 1.1% of total volume, the reason bitcoin had such respectable numbers is because there may be as many as 5.8 and 11.5 million - an average of 8.7 million - active wallets. However, the global bitcoin wallet ownership numbers do not even reach 2% of the population target by our project. Just take a few seconds to absorb this information… what if we could introduce another 10 million, even 100 million users… what kind of impact would this have on the cryptocurrency landscape, especially when we refer to Bitcheke and it’s ecosystem? Source：bitcoin.com blockchain.info Our Mission The next billion Cryptocurrencies, while capturing the imagination of 8 million people has almost no meaning or value to most of the world. BitCheke with the implementation of Rewards, added to the benefits of AdCredits, integrated in to one practical platform using the UniCheke, this way seeks to bring cryptocurrency to the next Billion users. Benefits Benefits By achieving this goal, BitCheke Ecosystem will help increase the value of cryptocurrency for all users. Forecasting the market expansion to pre- mine the BitCheke, AdCredit and Rewards supply based on a simple calculation based in the % of Target market The Ecosystem is going for. Problem to Resolve a) Complexity, One of the hardest problems in crypto is how to radically reduce the complexity of handling handling cryptocurrency. BitCheke solves this problem through several end users, including a mobile wallet application free to download, that will become the only soﬞware and hardware needed to socially mine Rewards that can be converted to BitCheke and a contactless smart card that can be integrated to the UniCheke POS. b) The Mobile Reward Wallet, is a helpful component because it solves the handling of private and public keys. Instead of managing a long and complicated blockchain public key, it may be preferable for end users to simply maintain a password-based system that is much more familiar. Increasingly mobile devices can be secured by fingerprint or face recognition, so even the password may become too complex for many users and in fact a point where the complexity can help create a security risk, just as regular bank applications a 4 digit authorization PIN number will do the final authorization step.
c) The Smart Card Solution, The second layer that reduces even more complexity is the use of a smart card. The card can be used with or without the mobile app, and one member of the family could use the mobile app to charge up multiple cards that can be used by other members of the family. By empowering users with a contactless smart card, this enables users to avoid even the complexity of navigating a smartphone app. The number of transactions that can be completed are not limited to, Sell/ Buy Rewards, AdCredits and BitCheke, also been able to sell/Buy other currencies, pay for good and receive Rewards credited to your rewards wallet instantly. d) The BitCheke Platform, is the final round-up in solving the complexity issue. As a both soﬞware and hardware, the full stack implementation allows the merchants to integrate their existing POS device by connecting with the BitCheke Platform and accept payment in lieu of purchase/sale of cryptocurrencies and sale of daily goods & services. The hardware allows the use of the Smart Card and any Mobile Wallet, whereby addressing the inter-operability complexity. e) Relevance of Implementation, as mentioned before, the fact that most cryptocurrencies can only be used to buy other cryptocurrencies reduces the relevance of them to almost zero for most people. Thus the problem can be reduced to this: how can cryptocurrency be converted to fiat currencies for use in a “normal” everyday retail store to buy just about everything? And how can fiat currencies be used to buy Cryptos just about anywhere? f) Crypto to fiat convertion, the standard way in crypto banking to solve the problem of Crypto to fiat for consumers is the “Bitcoin Debit Card”. This leverages the VISA and MasterCard networks and enables users to access as many as 43 million Point of Sale (PoS) terminals around the world. One of the problems that has cropped up in this space recently is that VISA and MasterCard have both blocked the access to their networks for crypto debit cards. So for many geographies, another solution will be needed. g) Crypto to crypto to fiat, UniCheke offers support to point-of-sale devices through a full stack reference implementation of a contactless NFC mechanism that transacts directly with the cryptocurrency blockchain. The Point of Sale (POS) devices can become active on the UniCheke network through multiple means including: 1) The full UniCheke reference implementation stack. UniCheke is giving the full hardware reference implementation to retail environments as their primary POS device in the country that is implemented. 2) SDK –another easier approach is for existing POS device manufacturers to use the open source UniCheke library to support crypto to crypto to fiat transfers. 3) Mobile app—one of the easiest ways for a Point of Sale to include this payment protocol is simply to download the mobile app onto a compatible device, Some retail environments may even choose to use an Android phone or an iPhone (like the Apple Store) for customer checkout. Another approach would be to use an android or IOS tablet device with the soﬞware.
The existence of any of these solutions allows the point of sale to sell anything for cryptocurrency without the use of the VISA or Mastercard service by going directly to the cryptocurrency blockchain to record transactions. Aﬞer these transactions are recorded, the UniCheke device or API reports back to BitCheke to ensure that the merchants and retailers are paid back in fiat. h) Fiat to Crypto How do UniCheke users buy cryptocurrencies? Three primary ways: 1) The Rewards mobile wallet can allow users to directly purchase cryptocurrencies, AdCredits with Bitcheke and Rewards between peers 2) Mobile to card—users can transfer cryptocurrency from the mobile app to cards. An example of where this might be useful is if a member of the household has minor technical skills, they can set up crypto backed debit cards for the rest of the family and they don’t even need to worry about working or operating a phone app. 3) POSX to card: for the simplest use case and for users who don’t even have smartphones, the UniCheke system enables the POSX, whether it be the full hardware reference implementation, the mobile app or a tablet powered by the mobile app to directly be charged by a cryptocurrency. Solution to the Problems UniCheke aims to bring in the next billion crypto users as it allows users to buy cryptocurrency anywhere and anytime. This will make UniCheke the world’s largest decentralized, offline cryptocurrency sales network. It is ‘decentralized’ because the ecosystem and transaction records live on the blockchain. It is ‘offline’ because our entry point is via Point-of-Sale (POS) devices installed in physical outlets. UniCheke allows for five customer use cases. It enables users to: 1) Buy or Sell cryptocurrencies through a Point-of-Sale (PoS) device 2) Buy anything using cryptocurrency through the UniCheke POS device (retail point-of-sale) 3) Pay peer-to-peer using mobile (like PayPal) 4) Credit and Rewards Verification 5) Buy or Sell AdCredits with Bitcheke at the fix rate of 2 to 1. UniCheke consists of: - UniCheke Mobile App - a smartphone app used to do the following things: - buy BCK,BTC, ETH, LTC, Waves and cryptocurrency using cash or card - sell BCK,BTC, ETH, LTC, Waves and cryptocurrency for cash - top up fiat money in a digital wallet - buy utilities and services, e.g. electricity using cryptocurrency * - UniCheke card – will be the physical multi-currency wallet for fiat and cryptocurrencies available for purchase and sale via the UniCheke platform. The UniCheke card also facilitates payments via cryptocurrencies held in the card through NFC and contactless technology. - UniCheke Platform - a reference implementation stack including soﬞware and hardware that performs the full Point of Sale (POS) device function. Our reference implementation hardware is already in deployment in convenience stores and retailers, and we will further distribute the platform through open source licensing and distribution of the SDKS and open APIs.
Effectively, UniCheke together with BitCheke, AdCredits and Rewards will become: a) World’s largest offline cryptocurrency sales network by connecting existing POS devices and UniCheke devices to the UniCheke Platform. b). your very own Crypto debit card - UniCheke card. c). An Offline Crypto exchange allowing for more liquidity in cryptocurrencies BitCheke Pre-Mined Token Supply and Reissuance Look at the consumer's behavior where 95% of the Latam population are impulsive consumers, and love the buying power that non-bank credit give them, and are all used to the basic technological challenges they must have clear to be able to do the cross over, from Fiat to Crypto if the adequate proposal was placed in front of them. We estimated only the primary markets starting with Mexico and down to Chile and Argentina, with a total population of 700 Million habitants, and based in the World Bank study 45,5% of this population is active today we have a total of 318,500,000 are working, spending and consuming. We wanted to target this audience and expect that only 1% of the total active community-based would be aמּracted by the benefit of this opportunity of geמּing up to a 40% Reward, that has no cost, and grant them access to a Cryptocurrency of value that can be traded for goods and services. We also estimated that in average the Latam Family spend from US$500 to US$1,000 per month in covering all basic necessities such as pay the Rent, the gas bill, water, electric bill, buy food and other priority needs, gas or transportation, entertainment, clothing, etc. and now with Rewards as the Social Mining cost effective alternative, they will be able to recuperate up to 40% of those monthly costs and expenses, obtaining Rewards by doing the Social Mining, for the sake of this document we are going to place more weight to the forecast, we then estimated expenses per house hold in the lower part just US$500.00 (or the equivalent to your countries reality), to be declared every month assuming that they have completed the survey and have been granted a 40% Rewards through Social Mining, this is a reimbursement of US$200 per month declared in Rewards, this today at our BitCheke market price (February 24th, 2018) (USD$0,98) they will obtain 204 Bitcheke Coins per month one person, in a years’ time they will have 2,448 Coins, obtained with this Social Mining Tool. Now, if we multiply this for the 1% target this is 7 Billion and 800 Million Bitcheke Coins needed that can be Socially Mined, using the Reward Program, but; we wanted to challenge more our project, let’s say that this 40% rewards and ability to convert into a Cryptocurrency does not have the acceptance we expected, and only half of this people or half of this 1% of the 45,5% out of a total population of 700 million habitants in Latin-Americans, will be interested in free coins doing Social Mining with Rewards. We, will need 3 Billion and 900 million BitCheke coins per year to satisfy this small sector of Only the Latin-American community, not talking about Spain, or other target markets that may see this simple no cost Social Mining ability, as a way to get their hands into a crypto using this free tool, just in Latam in the next 5 years with no expansion and no growth we needed about 19 Billion BitCheke coins to satisfy this very small demand of a community Social Miners, but; will get involved base on the instant gratification and the opportunity to turn garbage into money, not throwing away the receipts, but; declaring their expenses and turn it into benefits or money, having a positive impact, every month they will increase their buying power, and Rewards Mining’s returns, will also have an impact into their households net worth and purchasing ability, granting them more Rewards every month as they incorporate the 40% rewarded and converted into fiat or is used to buy or pay for products and services, having a positive impact on their budgets and lives, with benefits no government or foundation is able to grant them as Bitcheke can with the Social Mining tool. A great tool to affiliate, creating loyalty to the product, recognizing its intrinsic value and also adding an component as they collect rewards and save them every month, this is Reserve value, a key ingredient to provide future value to the underline Crypto behind this Social Community Ecosystem. The Shortage of Supply translates in Higher Price. Now, this is not all, we are just showing the tip of the Iceberg with the Rewards as a Social Mining tool, that carry no implementation cost or maintenance cost, a great alternative to traditional mining, today under the eyes of regulators for the negative impact is having in electricity consumption that stimulates the uses of fossil fuels, to be able to satisfy the great demand for energy to run their mining grids, that are also very expensive to obtain and use to Mining Cryptos. Rewards Social Mining, is a good alternative to traditional coin mining, then we knew that we needed to have access to our tokens fast and with minimum cost to us too, and looking at other projects such as Ripple we also pre-mined and began with an initial supply of 70 Billion Bitcheke Coins, understanding that this supply at the target rate and target markets, we will have Crypto Supply for the next 9 years only, with no increment on demand, and cero growth in the markets, not even talking about the amount of coins needed for investors that will see the potential of this project and possibility that this project will value the crypto price, just half of the target market buying at today’s market price, calculating we need an additional 40Billion BitCheke Coins, on top of the 70B today in supply, with no other Markets as target. The use of Rewards Social Mining as a Stabilization tool of Volatility This bring us another important factor that negatively describes the Cryptocurrency Market today, we are referring to the Volatility, and its only motor, the speculation and market sentiment, driving prices as high as 50,000 times its initial target value, and then dropping to lower numbers losing market capitalization dramatically affecting ranking, in maמּer of hours and loyalty is out of the door, miners are of no help to bring coin stability, and here is another key factor that makes the Social Mining tool a success. Because its estimated future demand for BitCheke as the granted Rewards are converted once a month by the Apptoken users, impacting the shortage of Supply, causing the price of the Crypto to go up, and its value can move to high prices, the Rewards also become an equalizer or stabilizer to the Crypto Supply, and because we have the faculty to issue more BitCheke Cryptos, with a community consent under a voting election, this will bring the market price down having more Supply in reserves, as shortage drive it price up, we are able to stabilizer the crypto. Making it more aמּractive and at the same time we can expand to other markets, that will have the same effect to shortage of supply and market price and capitalization, that on its own may drive this Crypto to the top of charts and rankings due to this supply, price and demand formula that regulates its self in a Social Community base consent, that will vote each time the Supply is needed to be addressed having the pre notification indicator at our disposal knowing how many Rewards are Socially Mined each month and how many will be converted into Bitcheke. The balance between liquidity, price, Reserved Supply and Social Mining will ensure the stability to avoid the increment of the Price of our criptos and making it more accessible to everyone and provides a key element to be able to use a cryptocurrency as a payment tool and price products and services in Bitcheke or AdCredits. The Opportunity to Barter assets of value, goods and services for BitCheke in our Bartering site. The project as a Social Ecosystem, also contemplates the creation of a unique opportunity to give access to any average person, the possibility to enter the Cryptocurrency market even if they have no Cash to invest, but; wants a piece of the action. We also created for the Latam market MiTrueke in Spanish, that is a way to say “My Bartering Exchange”, where anyone can Exchange or Barter something of value the users wants to sell to us in exchange for our Cryptocurrency BitCheke at the fair Market Price, recuperating the 40% in Rewards of the fair market price of the Asset been Bartered this benefits apply to sellers and to buyers of this Assets, services or products for sale at the Exchange Barter site and this way, obtaining access once again to our Cryptocurrency and entered the crypto community with yet another App that grants them instant benefits and gratification, with total access to invest in our Crypto and eventually use our Gateway to other Cryptos’ that may benefit from our tools to secure monetization and value to their Cryptos’. The value sale or exchange will also pay Rewards based in the total of the contract, therefore the potential investor not only barter his assets for Bitcheke at a fair market price, but: also receive 40% in Rewards that will give them additional Bitcheke coins depending on the market price at the time of the exchange, this benefit also apply to the potential buyer of this goods and services, listed at the Bartering Exchange, the tool or site can be used to list Private sales offered to any other user, selling goods or services in exchange for BitCheke, Rewards, AdCredits or any other Cryptocurrency are accepted. Now, all of this Assets are loaded into our Bartering Exchange, where all our Reward Users may buy this assets and services paying 50% with Rewards and 50% with AdCredits. Now, we just open another door to potential investors to enter in to this crypto market selling or exchanging their value goods and assets for our Cryptocurrency and have the opportunity to convert a passive Asset into an active valued Asset, that will increase in value as the Ecosystem is used due to the underlying value of the Crypto Bitcheke and value Added and reserve value that supports the Crypto, with the Social Mining impacting positively the price affecting shortage in Supply and now with the ability to exchange assets, will provide a world of different products and Services, you may also exchange and Barter a smart contract, of value for specific services that can be also converted in to our Crypto. Providing a reserve value to all Reward users that may buy this Assets, products and services using their Socially Mined Rewards or Bitcheke Coins, there is no limits in the amount of the value of a particular Smart contract or Assets sold to the Ecosystem for BitCheke, Apartments, property, watches, cars, cameras, PC, phones anything, veterinary aמּention, medical aמּention, legal assistance, accountant, dentist, painting the house, etc. Etc. Bringing value to the underlying Crypto and greeted value and affirmative consents from the community, that has only provided with tools with cero cost or technology barriers to permit anyone to make the cross over from Fiat investing into the Cryptocurrency market. Now we have address some of the key factors that are constantly aמּacked in the industry, Warren Buffet say, intrinsic value is key factor, well we have provided with this intrinsic value within the community, to be decentralized, we provided Reserved value to the Crypto, we also stimulated shortage of supply and definitely we have provided added value and usability and a tangible value to our crypto. But, now we must increase usability to the masses, to gain great benefits using the community base cryptocurrency in our everyday life, and here is where the AdCredit Apptoken comes into play. Implementing the payment system and enrolment of merchants and retailers to accept AdCredit. All you have seen so far is a collective strategy to gain trust in the Ecosystem and manage a great combination of marketing tools to create loyalty, fidelity and support to our Crypto, that once our numbers numbers have gowned in to the millions using the Social Mining to obtain Rewards, and all the other benefits to aמּain and use Bitcheke, we collected an incredible amount of personal data from our users, we will know almost everything about them, if they own or rent, have a car or not, what bank they use, where they live, how many people in his immediate household or total family, what he/she eats, where he eats, and millions of details stored for one purpose, to generate statistics and have an audience, that trust out community-based Crypto to offer them any activity, or product that we provide them, and to double or triple our community-based ecosystem. We now approach the brands, the large corporations, the retailers and all E- market players to sum their brand to support our project, giving us the opportunity of incrementing the usage and value added power to the BitCheke Social Ecosystem, implementing an easy to use improvement to the Rewards wallet and Application, giving the users the possibility to pay with this wallet in all affiliated retailers, merchants, service providers and E-Commerce in general with the incorporation of the AdCredit token and the implementation of our UniCheke POS. Interconnected to the Rewards Wallet and Data base, that will be built in a blockchain structure for security at the most higher standards, using this wallet to pay at millions the stores worldwide, that will be also motivated in accepting this form of payment with this token, because of the Rewards that they will also gain per each purchase or payment, no maמּer what form of payment is used, if our users pay with cash, credit cards, check, BitCheke or AdCredits and as long as the user is qualify for the 40% Rewards Reimbursement, the Store owner or store wallet if registered with Rewards also receives the same % in rewards that the client is granted. As a Store and maybe has multiple stores and multiples off sales people, cashiers or Waitresses, etc. If they are all resisted, they will also get a up to the 40% Rewards granted to them, just because they accept to validate Rewards and/or honor AdCredit as a form of Payment for their products or services. Businesses can use this Rewards accumulated just as regular users do converting them in BitCheke, but; or use them to purchase and pay for products and services target for businesses and more industrial products that merchants can also buy from our B2B Barter Exchange, this way they may very well lower their operational cost buying with this great benefits and incompatible discounts. Additionally, businesses may convert the Rewrads for Bitcheke and become investors, driving the Reserve value of the Crypto community higher and impacting in a positive way the business that is now accepting payments with AdCredits, to aמּain Rewards, buying products and services that not only will improve their business, but also will free money and gain value with the BitCheke, they can obtain them, just accepting our customer base community, to pay with AdCredits and using our proprietary POS platform, to satisfy the needs of our project, giving the power to store owners, retailers and merchants adopting our system, to buy/ sell BitCheke and Rewards, grant rewards aﬞer every purchase instantly to the customer, sales person and store or retailer, and also the sales person assisting, incrementing to need for additional supply impacting the shortage of BitCheke and Rewards, driving the market price of BitCheke every time and also driving the intrinsic value of Rewards higher. Private Funding Allocation Program To raise the necessary funding to complete this project we are offering a Private Placement Program (PPP) is an innovative way to raise funds making an offer to potential investors that would like the opportunity opportunity to obtain Value tokens and a monthly release of additional Cryptos based on a bonus benefits including Rewards reimbursements for the amounts invested. Details of a PPP details for BitCheke Token sales are as follows:
For example, if JOE invest 10 Ether in week 1, according to the above schedule, and offer below he will receive 5,000 BCK tokens and additionally (35% Extra tokens) 1,750 BCK tokens each programed month for 12 month till complete a total BCK token disbursement of (22,750 + 5,000 = 27,750) Notes: - We accept ETH for BCK - Ratio of 1 ETH = 500 BCK - This PPP is not an IPO (Initial Public Offering) - Pre-PPP: will be held from March 1st 2018 till March 15th, 2018 (00:00 P.M. PST) and all investments during the Pre-PPP carry an additional incentive of 40% offered. - Token investors can email their Leמּer of Intent and KYC package to bck.privateplacement@instruction.com before the PPP to pre-register with their email address. Investors will enjoy extra benefit based on the pledged amount. - BCK amount: If this PPP does not generate 100,000,000 BCK tokens in sales, the company reserves the right to use the remaining tokens for an Additional PPP. The token price for any additional PPP would be greater than in this round, and the current token holders would also be rewarded. Fund Usage
We are planning to launch the new version of Rewards and its wallets with all the new powerful gadgets by the end of July 2018. The implementation of the POSX UniCheke will be finalized and start distribution by the end of October as we enroll brands and Merchants to accept AdCredits as form of payments. The introduction of the Blockchaine, wallets and new technologies will solidify our position in the Market Place, providing the necessary instruments to have a global expansion. Progress to Date In December 2017 we had launched the Rewards application for Chile, with an Application Beta Light, to start using the concepts and make all the necessary corrections and adjustments to improve the new version that should be available by Junes 2018. Today we have close to 600 downloads of the Rewards Application and with a 80% use sage and we have granted and transfer to date more than 40,000,000 in Rewards, people are keeping the Rewards, but they can sell them if they want. Compliance, LOI, KYC BitCheke and its associate administrator Inversiones Cheke SAC, Lima, Peru. Has designed the Compliance package to be completed by all potential investors to comply with all the regulations regarding money laundering and financing of terrorist acts. Investment Risks & Indemnity The information contained in this Offering Memorandum (or white paper, hereinaﬞer ‘Memorandum’) is intended only for the persons to whom it is transmiמּed for the purposes of evaluating BitCheke and its Ecosystem, BCK tokens offered hereby. Prospective purchasers should not only rely on the information in this Offering Memorandum. We strongly encourage Purchasers to do their own research. No persons are authorized to give any information or make any representation in respect of the Project or the Token offered herein and any such information or representation must not be relied upon. This Offering is a private placement program and is not, and under no circumstances is to be construed as, a public offering of the securities described herein. The BitCheke BCK Tokens are being offered in reliance upon exemptions from the registration and disclosure requirements set forth in applicable legislation. This Offering Memorandum does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
We are planning to launch the new version of Rewards and its wallets with all the new powerful gadgets by the end of July 2018. The implementation of the POSX UniCheke will be finalized and start distribution by the end of October as we enroll brands and Merchants to accept AdCredits as form of payments. The introduction of the Blockchaine, wallets and new technologies will solidify our position in the Market Place, providing the necessary instruments to have a global expansion. Progress to Date In December 2017 we had launched the Rewards application for Chile, with an Application Beta Light, to start using the concepts and make all the necessary corrections and adjustments to improve the new version that should be available by Junes 2018. Today we have close to 600 downloads of the Rewards Application and with a 80% use sage and we have granted and transfer to date more than 40,000,000 in Rewards, people are keeping the Rewards, but they can sell them if they want. Compliance, LOI, KYC BitCheke and its associate administrator Inversiones Cheke SAC, Lima, Peru. Has designed the Compliance package to be completed by all potential investors to comply with all the regulations regarding money laundering and financing of terrorist acts. Investment Risks & Indemnity The information contained in this Offering Memorandum (or white paper, hereinaﬞer ‘Memorandum’) is intended only for the persons to whom it is transmiמּed for the purposes of evaluating BitCheke and its Ecosystem, BCK tokens offered hereby. Prospective purchasers should not only rely on the information in this Offering Memorandum. We strongly encourage Purchasers to do their own research. No persons are authorized to give any information or make any representation in respect of the Project or the Token offered herein and any such information or representation must not be relied upon. This Offering is a private placement program and is not, and under no circumstances is to be construed as, a public offering of the securities described herein. The BitCheke BCK Tokens are being offered in reliance upon exemptions from the registration and disclosure requirements set forth in applicable legislation. This Offering Memorandum does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
persons, if any, retained to advise such person with respect thereto is unauthorized, and any disclosure of any of its contents without the prior wriמּen consent of the Corporation is prohibited. This copy of the Offering Memorandum is personal to the person to whom it is delivered and does not constitute an offer to any other person or to the public generally to subscribe for or otherwise acquire any of the securities offered hereby. THIS IS A SPECULATIVE PROJECT The offer of BitCheke BCK Tokens in this Memorandum must be regarded as highly speculative due to the nature of the Corporation’s business and its relatively early stage of development. Purchasers shall understand the underlying risk. The purchase of the tokens is suitable only for purchasers who are able to accept the risks inherent in the Project’s business. In addition, there are a number of other risk factors that should be considered by persons proposing to purchase the price to be negotiated. Purchasers should consult their own professional advisors to assess the income tax, legal and other aspects of the issue. ROADMAP
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Waves Community Token The Waves Community Token (WCT) was distributed to WAVES holders on a monthly basis, in proportion to their average balance over the course of the previous month. One of its primary purposes is to encourage long-term holding of WAVES, and for users to keep their balances in local wallets rather than on exchanges, for security reasons. WCT will also be used as a form of collective due diligence for new token projects, allowing the community to vote on the perceived viability and legitimacy of forthcoming crowdsales Algorithm Waves’ blockchain consensus algorithm is Waves-NG, which is based on the Bitcoin-NG proposal created by Emin Gun. Bitcoin-NG was designed to increase transaction throughput on the bitcoin blockchain: ‘the system can at best achieve a modest transaction throughput, rising from ~3 transactions per second to ~6 transactions per second if the block size is doubled. This is far from the 30,000 transactions per second necessary to compete with the likes of VISA transactions. The same fundamental limitations apply to Ethereum, Litecoin, Dogecoin, and all other currencies that share Bitcoin’s blockchain management protocol. In Bitcoin, the system generates a retrospective block that encases in cryptographic stone the transactions that took place in the preceding 10 minutes. In Bitcoin-NG, the protocol is, instead, forward-looking: every 10 minutes, NG elects a leader, who then vets future transactions as soon as they happen. The former is necessarily limited by the block size and block interval, while the laמּer approach can run as fast as the network will allow.’ This approach has been adapted to Waves’ proof-of-stake model, theoretically enabling hundreds of transactions per second. Smart contracts Waves was designed for custom tokens operations, but Ivanov has stated that ‘some form of smart contracts’ will be included in the platform. Aﬞer the exploit in The DAO and subsequent hardfork of the Ethereum blockchain, Ivanov has said that there would be Waves’ smart contracts that are not turing complete but will allow most business operations without the risks inherent in offering such universal capabilities. According to the most recent development roadmap, published by The Waves Platform, Smart Contracts (non Turing) are scheduled to be added to Full Node soﬞware builds during Q1, 2018 and Turing complete smart contracts are scheduled during Q4, 2018.
DEX (Exchange) The decentralised exchange (DEX) is integrated within the wallet. This allows users to trade tokens on a peer-to-peer basis. The DEX uses centralised ‘Matcher’ nodes, which pair orders and execute trades in near-realtime, whilst ultimate seמּlement is carried out on the blockchain for security. Fiat Gateways Fiat Gateways such as USD/EUR/CNY will allow you to exchange any token issued on the Waves platform (or any other cryptocurrency like BTC/ETH) for “real” money, which can be deposited in a bank Coins vs Tokens: Categorization of Cryptocurrencies
It is important to note that all coins or tokens are regarded as cryptocurrencies, even if most of the coins do not function as a currency or medium of exchange. The term cryptocurrency is a misnomer since a currency technically represents a unit of account, a store of value and a medium of exchange. All these characteristics are inherent within Bitcoin, and since the cryptocurrency space was kickstarted by Bitcoin’s creation, any other coins conceived aﬞer Bitcoin is generally considered as a cryptocurrency, though most do not fulfil the aforementioned characteristics of an actual currency. The most common categorization of cryptocurrencies are: 1. Alternative Cryptocurrency Coins (Altcoins) 2. Tokens AltCoins: Alternative cryptocurrency coins are also called altcoins or simply “coins”. They’re oﬞen used interchangeably. Altcoins simply refers to coins that are an alternative to Bitcoin. The majority of altcoins are a variant (fork) of Bitcoin, built using Bitcoin’s open-sourced, original protocol with changes to its underlying codes, therefore conceiving an entirely new coin with a different set of features. Here’s an article that simplifies the concept of forks, hard forks and soﬞ forks: Guide to Forks: Everything You Need to Know About Forks, Hard Fork and Soﬞ Fork. Examples of altcoins that are variants of Bitcoins codes are Namecoin, Peercoin, Litecoin, Dogecoin and Auroracoin. Tokens: Token is a cryptocurrency that requires another platform to exist and operate and are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies! Tokens are created and distributed to the public through an Initial Coin Offering (ICO), which is a means of crowdfunding, through the release of a new cryptocurrency or token to fund project development. It is similar to an Initial Public Offering (IPO) for stocks. The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications. So, BitCheke is a Cryptocurrency created since Waves as Token
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