TokensaleWhitepaper10July2017

Copyright©2017DENTWIRELESSLTD

TOKENIZING AND LIBERATING THE MOBILE DATA MARKET

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“WeareheretoputaDENTintheUniverse.”SteveJobs

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TableofContents

1. Executivesummary..............................................................................................................................4

2. AbouttheCompany.............................................................................................................................6

2.1 TheDENTWirelessTeam.............................................................................................................6

2.2 TheDENTAdvisoryTeam.............................................................................................................8

3. Powertothepeople–telco’smostvaluableasset..............................................................................9

4. OurroadmaptolaunchandscaleDENT............................................................................................10

5. Theworld-widecurrencyformobiledataexchange–TheDENTToken...........................................11

6. DENTfordevelopingmarkets–"GigabytesforAfrica"......................................................................12

7. TheDENTTokensaledetails..............................................................................................................13

8. DrivingforcesforappreciationordepreciationoftheDENTToken..................................................15

9. DENTleveragingkeydriversofthetelcoindustry.............................................................................16

9.1 Keydriversandtrendsinthetelecommunicationsindustry—Pre-cursorstoa“perfectstorm”forDENTWireless.......................................................................................................................16

9.2 WhyMobileRoamingupfordisruption–andtheroleofDENT................................................20

9.3 Summaryofmobileoperatorbenefits:Revenueincreaseatlowercost...................................21

10. Technology–Architecture.............................................................................................................22

10.1 ArchitectureOverview...............................................................................................................22

10.2 ComponentOverview................................................................................................................22

10.3 DENTExchangeComponentStructure’......................................................................................23

10.4 Ethereumsmartcontracts..........................................................................................................25

10.5 VirtualOperator/Telco.............................................................................................................25

11. Technology-DENTexchangeusecases&workflows....................................................................26

11.1 User-to-userdatapackagetransactions.....................................................................................26

11.2 Telcodataroaming,datapackagetransferfromusertouserinternationally...........................27

11.3 DENTExchangeInitialDataOffering(IDO)fortelcos.................................................................27

12. Summary........................................................................................................................................28

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1. ExecutivesummaryThe world is changing, barriers are falling, the usage of the Ethereum Blockchain and SmartContracts is removing themiddle-menand reducing costs across several industries. Banks arechangingthewaytheydotransactionswhiletheindustryisreducingcomplexityinmanufacturing,supplychainand logistics.Thiswhitepaperdescribes theDENTExchangewearebuilding: thetransparentmarketplaceforselling,buyinganddonatingmobiledatapackages.

Mobiledataisthenextcommoditytobeliberated

Mobiledataaccessisbecominganessentialhumanneed,asmuchashotwaterandelectricity.However,accordingtoGSMA, in2016still lessthanhalfoftheworld’spopulationusesmobiledata.Fordatausers,usagevaryvastlyacrossgeographies,whichshowsthehugepotentialtobeunlocked.Reasonsare,besidesnetworkavailabilityandhandsetaffordability,theperceivedhighcostofdata,whichvariesfrombelow1USD/GBtowellabove10USD/GBbetweenoperatorsandregionsfordomesticusage.Furthermore,operatorsarelocking-incustomerswithrigiddataofferingsthataremadetoexpirewhenunusedwithinagiventime,which leadtoevenhigherprices/GBthatcustomerseffectivelypay.Asaconsequenceofthecustomerlock-in,datausageabroadcanbecomeprohibitivelyexpensivewithprices/GBinthehundredsorthousandsofUSD.Allthisgeneratesbillionsofdollarsprofitforoperatorsbutinhibitsunlockingthefullpotentialofmobiledata.

We want users to own their mobile data and bandwidth.Theyneedtobeabletofreelysellordonateunuseddatatootherusers.

World-wide.ThreeDisruptionMegatrendsonMobileOperatorBusinessthatDENTisaddressing

1.LiberationofMobileData.DENTenablesa“DataSharingEconomy”whereusersareabletofreelybuy,sellanddonatetheirmobiledata,fromanyusertoanyuser.TheDENTExchangeactsas horizontalmarketplace for trading ofmobile data. TheDENT Tokenwill be theworld-widecurrencyforMobileDatabetweentelcosandtheusercommunity.

2.DisruptionofinternationalRoaming.DENTfacilitatestheremovalofdataroamingcostdrivers,suchasexpensiveroutingsbetweentelcos.Forexample,with localdatabreak-out,theforeign

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telcoterminatestheusertrafficdirectlytothe internet, insteadofroutingthepay-loadtothehometelco.

3. Facilitation ofmobile data purchase. DENT enables automated purchase capability of datapackages for consumers and IoT devices. The user always gets the best price from themostsuitableoperatorinhisregion,withouthavingtoworryaboutbuyingtoomuchortoolittledata.OperatorscaneasilyconnectwiththeDENTplatformtoserveaglobalcustomerbase,withouttheneedtoestablishsilo'edownplatforms.

DENTdrivenliberationofthemobiledatamarkettowardsanopenmarketplace

DENTwillbetheglobalexchangeformobiledatawhere-inthefinalscale-theworld’smobiledataissold,boughtordonated,justlikeothercommoditiessuchascurrenciesaretradedtoday.DENTwillmakedatapricingtransparent,andthroughautomatedbiddingincreasesefficiencyofpurchase,justlikespotmarketsandmobileadvertisingtoday.

DENTTokenswillbetheglobalcurrencyfortheexchangeofmobiledatapackages.Thepossibilityofexchangingapackagetoamoresuitableone,especiallyintheadventofeSIMswillallowtheuseofmultipleoperatorsonasinglephonewilldrivetelcostocompete.

MobileDataLiberation–DENTaimstoturnunused$4.8BillionUSDpermonthintousage

AccordingtoarecentstudyofCISCO,theworld-widemobiledatagrewyearonyear63%to7.2billionGigabytespermonthinDecember2016.AccordingtoastudyofParksAssociates,mobileoperator data revenues stood at $386 billion USD in 2015, equivalent to $32 billion USD permonth.Assumingjust15%tobeunusedduetoexpiry,inawayuserslostavalueof$4.8billionUSD.Inamoretransparentandconnectedmarket,thisvalueshallbeunlockedtodrivemobiledatausage.

References:CISCOstudyaboutdatatraffic:http://bit.ly/1W26UQoParksAssociatesStudyofMobileDataRevenue2015-2010:http://bit.ly/2sGwaar

Laypersoncomparisontogasoline

Thegasolinemarketisalsocontrolledbyafewcompanies,butifyoubuy100litersofgasoline,youcanusethegasolineasyouwantorpassitonasyoulike.Thisisunlikemobiledatatoday,whereyoucannotgiveyourunusedcapacitytosomeoneelse.Someroll-overorpoolinghasbeenintroducedbuttheseremainislandsand–inthecaseofdataroll-over,datawillstillexpireifnotusedinthefollowingmonth.

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2. AbouttheCompanyDENTWirelessLtd,basedinHongKong,wasfoundedin2014asCommandoCoderLtdwhenTeroKatajainendecidedtodevelopanautomatedFOREXtradingsystemwithbuilt-inriskmanagementfunctions.PartsofthisproductarenowbeingintegratedintotheDENTExchangetoallowbuying,selling,anddonatingofmobiledatapackagesonthemarketplace.In2017,theotherfoundersinvestedinthecompanyandjoinedTerointheadventuretodevelopandbringDENTExchangetotheworld.

2.1 TheDENTWirelessTeamTheDENTTeamisauniquecombinationofserialentrepreneurs,industryveterans,specialistsinEthereumsmartcontracts,open-sourceapplications,paymentsystems,mobileappsandsecurelarge-scaletransactionsystems.

TeroKatajainen,CEOandFounder

DENTWireless CEO and Founder, Tero Katajainen, originating fromFinland,hasco-foundedseveralInternetstartupsinhis20-yearcareer.He holds aMaster of Science degree in Electrical Engineering fromUniversity of Tampere, Finland. His deep knowledge about FOREXtradingsystemsisabigadvantageforDENT.Terowasalsooneofthefirst developers ever to implement directmobile operator paymentsystems to consumer applications. As a specialist for transactionalsystemsandBlockchain,TeroisthemastermindofalltechatDENT.

MikkoLinnamäki,Co-Founder

DENTWireless is backed byMikko Linnamäki, Internet pioneer andserialentrepreneurwithatrackrecordoffoundingsuccessfulInternetbusinesses since 1994. Mikko, also from Finland, is Co-founder ofDOVECOT Oy, the company behind DOVECOT, the world‘s mostpopular IMAP Serverwith aworldmarket share of 72% andover 4millioninstallations.Anestimated2,5billionusersareentrustingtheirEmailstoragetoDovecoteveryday.Mikkorecentlyreceivedapatentforhisinvention"AdHocInjectionofIMAPObjects".

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AndreasVollmer,Co-Founder

Andreas is the Mobile specialist in the team with 12 years’experiencedevelopingMobileApps, fromSymbian in2005 to iOSandAndroidtoday.AndreasisCo-FounderofleadingGermanmobileappdevelopment company TDSoftware,which is developing appsfor companies such asMercedes-Benz, Audi, Deutsche Post, GLS,andothers.Andreas isalsoanexpert inmobileCRMsystems,andwill deploy the latest tools to analyze user behavior in order toaccelerateusergrowthandhittargetmetrics.

MichaelWirth,DirectorPaymentSystems,GMUK&Ireland

Michaelistakingcareoftheperfectflow,analytics,andeasyuserexperiencefortheexchangeofDENTTokensinourcustomer-andcarrier-facingapplicationsonmobile,WebandM2M.Michaelhas20yearsofexperience in large-scaletransactionprojects.HewasDirector of Products and Services at eNett International, aTravelportcompanyandleadingspecialistforpaymentsolutionsinthetravelindustry.

VilleSundell,SmartContractSpecialist

VilleisaFinnishsmartcontractdeveloperwhohaspioneeredsmartcontract based legal entities, being the first to create companiessolelyontheEthereumblockchainwithoutanyhumaninterventionthroughEtherprisesLLC.Villehasover10yearsofexperienceonlimited and mission critical embedded systems ranging fromautomotive to mobile systems, being the ideal background forsecuresmartcontractdevelopment.

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2.2 TheDENTAdvisoryTeam

Dr.RainerDeutschmann,Advisor

Rainer advises DENT Wireless on how to create a long-termsustainable and scalable businesswhich creates awin-win for allmarketparticipants–customers,telcosandDENT.Hebringsin20years of experience in consulting, telco and tech industries, atcompanies like McKinsey, Deutsche Telekom and Reliance In-dustries.Rainerheldseniorexecutivepositionsinstrategy,productand innovation across mature and developing markets. Mostrecently, as Chief Product & Innovation Officer, Rainer with hisfellow leadership team launched Reliance Jio, the 25 billion EURtelecomanddigitalservicesventureofReliance,andacquired100millioncustomerswithinsixmonths.Jiodisruptsthetelcolandscapetodemocratizemobilebroadbandforthe1.3billionpeopleinIndia.

RansuSalovaara,CEOofTokenMarket

Ransu is a financial industry executive specializing in crypto-currencies,digitalassets,andblockchaintechnology.HelaunchedEurope’s first Bitcoin-backed Exchange Traded Instrument,BitcoinETI,thatislistedontheGibraltarStockExchangeaswellastradedontheFrankfurtStockExchange.TokenMarket isan infor-mation,crowdsale,andexchangeplatformfordigitalassets.

MikkoOhtamaa,CTOofTokenMarket.net,cryptotechnologyspecialist

Mikko is Co-Founder and CTO of TokenMarket and an earlyblockchain and Bitcoin expert, as well as Python and JavaScriptdeveloperandanOpenSourceadvocate, takingcareof thebackendsystemsoftheTokenSalesontheirplatform.

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3. Powertothepeople–telco’smostvaluableassetDENTgathersmobileoperators’users intoa collectivegroupwithbilliondollarbuyingpower,givingtargetedglobalpartnershipssufficientweight

Themostvaluableassetforthemobileoperatorsisyou,thecustomer.Thevalueofacustomerisdeterminedbyhisaveragespendpermonth (ARPU),how longhestayswithanoperator (theinverseofwhatiscalled“churnrate”),andthecustomeracquisitionandretentioncost.Takingglobalaveragesofabout10USDpermonthblendedARPU,a25%annualchurnrate,andcustomeracquisition and retention cost of 20% of operator service revenues, the lifetime value of acustomerisapprox.$460USD.Nooperatorwantstorisklosingthisvalue.

Ourstrategytoliberatingthedatamarketstartswithyou,andensuressufficientnegotiationpowerwiththetelcos

• WeinviteanduniteusersintheDENTcommunity• The DENT community represents a “union” of telco customers, which leverages its

collectivepowertoliberalizemobiledata• The DENT team represents the DENT community in partnership negotiations with the

telcos• Assumingastartwithevenjustafewmillioncustomers,theDENTcommunityrepresents

acollectivebuyingpowerof$460USDperuser,reachinghundredsofmillionUSDatstakeforatelco

• Telcoswillwanttosecureandgrowthisvalue,ratherthanhandingitofftoamoreopenandinnovativepeerplayers

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4. OurroadmaptolaunchandscaleDENTPhase1:DevelopmentandDENTuseracquisition

• OrganizemobileoperatorcustomersinkeycountriesintoacollectivepowerbyacquiringmemberswiththehelpoftheDENTTokensaleandotherincentives,suchassign-updatabonusofoperatorpartners

• Launch the DENT Exchange on Ethereum blockchain for buying, selling, and donatingmobiledatapackages

• Partnerwithtelcostooffermobiledatapackagesandenableuser-to-userdatatransfer

Phase2:EnrichdomesticofferingviatheDENTExchange

• GrowDENTcommunityandoperatorpartnerbasetoallowtheirusers to transferdatapackagesevenacrossnetworks

• Formulti-nationaloperatorpartners,theDENTExchangerepresentsanidealplatformtofacilitateinternationaldatatransferfortheiruserbase

• EnableuserstodonateexcessdataasDENTs,e.g.topeopleindevelopingcountriesPhase3:ProvideinternationaldataoffersviaDENTExchange

• Lobbywithpublicbodies,suchasEUregulation(whichsuccessfullyenforced“roamlikeathome”andremovedroaming feeswithin theEU)andgovernmentsofkeycountries todiscussrulesfordataliberationfortheircitizens

• Continueaddingmoreuserstothenetwork,startinterconnectingdomesticDENTmarketstocreatetheinternationalDENTExchange

• Allowuserstointernationallysellandbuydatapackages• àDENTTokenisthestandardinstrumentforworld-widemobiledataexchange

AsimpleusecaseofhowDENTExchangewillworkinternationally:

Mike is a customer of aUS carrier, he owns 2,000DENT Tokens. As he lands in Australia, heaccessestheDENTmarketplaceattheairportthoughWi-Fiandbuysthemobiledataheneeds.Thisdatacould,forexample,havebeenofferedbyJane,whoisacustomerofanAustraliancarrier.Mikeneedsnoextraagreementswithanycarrier,noSIMcardchanges,hejuststartstousehisphoneontheAustraliannetwork.JaneishappytoearnDENTsandwillspendthemonhernexttriptoEuropeduringhersummerholidays.Mike’sUScarrierearnstransactionfees,andJane’sAustraliancarrierhasincreasedhisutilizationagainsthisrespectivecostshare.

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5. Theworld-widecurrencyformobiledataexchange–TheDENTTokenThe currency used in trading, the DENT Token, iswhat powers the platform. The actual sale,purchase and donation of data packages enters the Ethereum blockchain, utilizing ETH. Theinstruments, i.e. data packages, will be Smart Contracts in the Ethereum blockchain. DENTExchangewilldriveEthereumSmartContracts,effectivelymakingthesystemablockchain-basedtradingplatform.ThecrowdsalewillallowparticipantstopurchaseDENTwithalowstartingprice,beforeitbecomesusedintheexchange.

Shouldtheexchangebecomeade-factoplacefortradingmobiledatabandwidth,itwouldthenbecometheprincipalmethodfordeterminingthefloatingpriceofmobiledataworldwide.Telcos,marketparticipants,andend-userswillallinteractinatruemarketdrivenwaytodeterminethecurrentprice.Eventuallythiswill leadtoincreasedcompetition,providingnewpackagestotheexchangeandfurtherenabletheDENTExchangetobecomethedominantforceinthemobiledataspace,utilizingtheDENTcurrency.

WhatcanusersdowiththeDENTTokens?

• WhentheDENTExchangeislive,userswillbeabletouseDENTTokenstobuyandselldataonaninternationalmarketplace.

• Inthebuild-upphase,usersobtainDENTTokenstoparticipateintheDENTcommunitytousethecollectivepowertogetherwithfellowmobileuserstodemanddataliberationandchangesinthewaythetelcosdobusinesswithmobiledata.

• DENTTokenscanbeacquiredatthecrowdsaleorlaterfrommarketplaces.• TheDENTmobileappservesasthecentralinterfaceforuserstobuy,sellordonatemobile

datapackages.MobileappdownloadsarebeingincentivizedwithDENTTokens.

Image:TheDENTMobileApp

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6. DENTfordevelopingmarkets–"GigabytesforAfrica"DENTaimsfordonationsofunusedmobiledatatotheonesthatneeditDENTwantstohelpthedevelopingworldbyprovidingaccesstomobiledata.Datapackagesmaybe donated through the exchange by the users. We will look for strategic partnerships withoperatorsenablingaccesstoinformationinruralareas.In‘TheSustainableDevelopmentGoal9’oftheUnitedNations,theUNcallsforbuildingresilientinfrastructure, promoting inclusive and sustainable industrialization and fostering innovation.Mobiledataisspecificallymentionedasakeycomponentinthesegoals:“Infrastructure and economic development also rely on information and communicationstechnology.Mobile cellular services have spread rapidly around the world, allowing people inpreviouslyunconnectedareastojointheglobalinformationsociety.By2015,thepercentageofthepopulationlivinginareascoveredbymobilebroadbandnetworksstoodat69percentglobally.Inruralareas,thesharewasonly29percent."

Source:ReportoftheSecretary-General,ProgresstowardstheSustainableDevelopmentGoals,E/2016/75

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7. TheDENTTokenSaledetails• EstimatedtokenvalueinETHofferedinthistokensale:152,000ETH,

(subjecttovariationsthroughthecrowdsale)• 100Billion(100,000,000,000)totalDENTTokenscreated,ofwhich70%aresoldinthe

tokensale(presale+publictokensale)TheCompanywillconductapublicsaleofTokens(the"Crowdsale"),whichwillbeginat21:00HKT(13:00UTC)onJuly12,2017(the"CrowdsaleLaunchDate")andendat06:59HKT(22:59UTC,July26)onJuly27,2017(the"CrowdsaleEndDate")orwhen70,000,000,000DENT("DENT")Tokenshasbeensold,whicheverisearlier.

• ExchangeRate:1ETH=400,000DENT*• TokenType:Appstokentopurchaseandsellmobiledatapackages• 30%ofDENTtokensremainattheCompanyfortelcoacquisitionandmarketseeding,user

incentives,salariesandbonuses.

• AnyTokensthatremainunsoldatthecrowdsaleenddate(26July2017),willbeaddedtotheCompanyInventoryandwillremaininalockedstateforatleastsixmonthsfromthecrowdsaleenddate.25%ofthetotalamountoftheunsoldtokenswillbereleasedfromthelockupquarterly,firsttimeatthedateof6monthsafterthecrowdsaleenddate.

• TheCompanywillpledge1Billion,or1%oftheDENTTokenstofurthertheUNSDGprogramforthepurposeofenablingmobiledataaccessindevelopingcountries

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• Bonus Tiers: DENT Bonus tiers allocate bonus tokens to buyers as per the following

schedulebasedonsoldvolumeinETH:• Tier1:Upto45,000ETH:10%tokensasabonus• Tier2:From45,000ETHandupto90,000ETH:5%tokensasabonus• Tier3:From90,000ETH:NobonusTokens

• Notokenswilleverbeaddedtothesupply. • FounderswillnottakeanyDENTTokensoffthetable.*TheconversionrateETH/DENTwillchangeduringthecrowdsaleduetothebonusdiscounts.Thispriceiswithoutanydiscounts

TimelineoftheDENTTokensale:

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8. DrivingforcesforappreciationordepreciationoftheDENTTokenAstheDENTTokencomefromalimitedpoolandthemarkethasthepossibilitytoexpandasmoreandmoredatapackagesareintroducedintoDENTExchangeandasthosedatapackageshaveapriceinFIATcurrencies,thepriceofDENTagainstthosecurrenciesmightriseduetothegrowingdemandinfaceoflimitedsupply.Formarketparticipants,thispresentsauniqueopportunitytoleverageanexistingmarket.

ThevalueofDENTmayappreciateordepreciateIfmobiledataproductsarerelativelycheapertobuyfromtheDENTExchangeratherthanfromcurrentmarkets,orpackagesbecomemoreattractiveduetof.e.xbeingabletosellexcessdata,userswillneedtobuyDENTTokenstobuythosepackages.TheamountofDENTavailablewillnotincrease,thismightcausethevalueofDENTtoappreciateduetoincreaseddemand,thesupplybeingfixed.

WithDENTbeingthetokeninthemobiledataspace,therateofappreciationmightfollowthesizeofthemobiledatamarkettradedinDENT.AccordingtoGSMA,thesizeofthemobiledatamarketispredictedtoincrease,largermarkettradedinDENTcouldleadtoDENTpriceincrease.

Ingeneral,thevalueofDENTmostlikelyreactstothemarketvalueofthedatapackagesintheDENTExchange.

Risks:Unknownregulatorymeasurestowardscryptocurrencyandoperatorslowness

Asthecryptocurrencymarket isstillyoungandthetechnology is in its infancy,theremightbeissueswith scaling the transactions tomassmarket speed.There is alsouncertainty regardingpotentialcryptocurrencyregulationsinthefuture.WearebuildingourservicesonEthereum,andshouldEthereumfail,wewouldhavetochangethetechnologyplatformtoanotherblockchaintechnology.Aswearedisruptinganexistingmarketofmobileoperators,whoprovidedatapackagestothemarket, it can take longer than anticipated to get the marketplace filled with supplier-sideproducts.

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9. DENTleveragingkeydriversofthetelcoindustry9.1 Keydriversandtrendsinthetelecommunicationsindustry—Pre-cursors

toa“perfectstorm”forDENTWireless

9.1.1 Globalizationofconsumersandbusinesseswithincreasingservicestransparency.

Globaltravelisontherise,andbusinessesareincreasinglyspanningacrossmultiplegeographies.Telecommunication service provisioningmust cater to those global needs, and provide globalservicesdespitethelocalnatureoftelecommunicationsinfrastructure,leveragingglobalentitiesand partnerships. Telcos have responded to the globalization by forming regional and globalconglomerates,partnershipsandjointventures.

However,thereisnotrulyglobaltelcoservicetoday,onparwiththeOTT(Over-The-Top)players,whorunoffasingleplatform.Telcoshavetraditionallyleveragedlocalplatformsforlocalmarkets.Moreandmore,localplatformsarereplacedbyglobalplatforms,whichistheonlywayhowtocompetewiththeOTTssuchasGoogle,Amazon,Facebook,WeChatandWhatsApp,tonameonlyfew,whodeveloponceandscaletheirplatformglobally.Globalplatformusagehastakenoffinthetelecommunicationsindustry.Examplesareplatformsforglobalroaming,severalwhitelabelplatforms for cloud based communication and other SaaS offerings, and the take-over of JibemobilebyGoogletoadopttheGSMARCSstandard,whichlikelybecomesacoreelementwithintheGoogleFiproposition.

Thesolutionwedeliver:DENTwillprovidethemissingglobalplatformtotheconsumers,whoarewearyofbeinglockedtooneoperatorinonecountryandofbeinglimitedintermsofmobiledatapurchaseandusage.WithDENTforthefirsttimeconsumerswillobtainfulltransparencyoncostofthedatatheyuse,andtheywillhaveaccesstoaglobalmobiledatapoolasifitwasgasoline.

DENTwillalsoprovidethemissingglobalplatformtotheoperatorecosystem,totradethekeycommodity-mobiledata.TheDENTplatformcanbeemployedlocallyinsinglemarketswithsingleoperators,butitisdesignedtoscalecrossoperatorandcrossgeographies.Thisisvastlydifferentfromthetraditionaltelcomodelwhichdoesnotscalebeyondtherealmoftheindividualplayer,andprovidesamuchmorecost-efficientplatformapproach.DENTisopentopartnershipsandwillmakeiteasytopartnerwiththem,withreadytouseandadaptableinterfaces.

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9.1.2 Smartphoneadoptionandcustomerdigitalservicesliteracy.

Customersnownaturallyusetheirsmartphonestocommunicateviavideo,watchmovies,managetheirtelcosubscriptionandtopurchasegoodsandservices.LessandlessthereisaneedforalocalPOS,andevenvoiceinteractionisincreasinglysupportedbychatbots.

Thesolutionwedeliver:DENTprovidesafullydigitalexperience,withouttheneedtoevervisitanyPOS or call a call-center. Buying, selling and donating data are all easily facilitated through asmartphoneapp,whichworksinparallelor–iftheoperatoragrees–integratedwiththeoperatorself-careappfunctionalitytogiveinformationaboutthecustomer’sactualdatausage.

9.1.3 Topandbottom-linepressureontelcos

Telcosareincreasinglystrugglingwithmaintainingtheirrevenueline.Despitethedatagrowthinusers and usage, the decline in voice and SMS can hardly be compensated, and customersincreasinglyconsidertheirtelcoserviceascommoditylikeelectricityandwater.Telcosrespondbytryingtodifferentiatewithproductsandpartners,butasustainabledifferentiationhassurelybeentodeliveranoutstandingqualityofservice(coverageandspeed)forafairprice.

Consolidationandretirementof legacy technologies in telecommunications industryare in fullswing,drivenbytheineffectivenessofbuildingandmaintainingmultiplemobileinfrastructuresinonegeography,especiallyforlegacynetworks.GoodrecentexamplesareinIndia,acceleratedbythe4GpureplaymarketentryofRelianceJio,wherethe#1BhartiAirtelhastakenoverseveralsmallerplayers,#2Vodafoneis inprocessofmergingwith#3IdeaCellular,and#6RCom&#7Aircelshareholdershaveapprovedtheircompanies’merger.

Thesolutionwedeliver:WithDENTthetelcosobtainavehicletodifferentiateandgetclosetotheconsumer.DENTprovidesacost-effectivedistributionchannel,andallowstoexperimentwithnewpricingschemestodeterminethesweetspotfordatasales.Thecosteffectivenessstemsfromtheinherent architectureofbeingblockchain-basedandby leveragingone centralplatformwhichscalesacrossallmarketparticipants.

9.1.4 Disruptionfromwithin.

Historyshowsthatuntappedprofitpoolseventuallygetdisrupted.Inthecaseofmobiledata,vastdifferencesinprofitpoolsexistacrossglobalgeographiesandoperators,whereARPUlevelsspanafactorof>20x,despitemaincostdriverssuchasspectrumandinfrastructurebeingcomparable.T-MobileUSandRelianceJioaregoodexamplesofdisruptingintheirmarketsfromwithin,whileestablishingandmaintainingprofitablebusinessmodels.However, inothercasesshortsighteddisruptionpurelyonpricingwasnotsustainable,asthetelcoplayersneedtobeabletomaintaintherequiredCAPEXforcoverage,capacityandnextgenerationinfrastructureprovisioning.

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Thesolutionwedeliver:DENTwillallowthetelcostobepartofthedisruption,ratherthanbeingdisrupted themselves. Telcos can become part of the journey to a fully transparent and fairecosystem. For global data usage, especially for IoT use cases, dedicatedMVNOs have beenestablished.OneexampleisCubic(www.cubictelecom.com)whichservesthelikesofAudiandHPfortheirglobalneeds.DENT isopentopartnerwithexistingMVNOsorevenestablishanownMVNOifrequired,inordertoservetheglobalcustomerbase.

9.1.5 Regulationinfavorofconsumersandpre-cursorsofdatasharingeconomy.

OverthelastyearstheregulationinEUhasbeendrivingdowninterconnectandroamingrates.Mostrecentlythelonganticipated“roamlikeathome”propositionismandatedandtookeffectstartingJune15,2017https://ec.europa.eu/digital-single-market/en/roaming.Customersarefreetousetheirdatavolumeaspurchasedwiththeirhomeoperator,acrosstheentireEUoperatorlandscape.Pre-cursorsofdatasharingpropositionsarevisibleinsomemarkets,suchas“dataroll-over” to the next months for un-used data, data pooling within a certain user group (e.g. acompany),datavouchertransfertoanyothersubscriber(suchasimplementedbyRelianceJio).However,all thesesolutionsarerestrictedtoacertainusergroup,acertaingeography,or forcertaindataplans.

Thesolutionwedeliver:DENTfuelsthealreadyongoingmovementtowardsagreatertransparencyandfairness,asseenwithsomeoperatorswhoprovidesharing,transferandpoolingpropositionsfortheircustomers.WithDENTthiswillcometofullfruition,andwillavailabletoallcustomers.DENTwillfinallymakedatapackagescomparable,strippingoffunnecessarybellsandwhistles.

9.1.6 Newtechnologies.eSIM,5GandIoT.

WitheSIMthephysicalSIMcardisbeingreplacedwithanon-devicesecurechip.Thisofferstheopportunitytoprovisionauser“overtheair”toacertainmobileoperatorwithouttheneedtophysicallyreplaceaSIM.Itisyettobeseenhowuserfriendlytheactualimplementationsaregoingtobe.BusinessModelsrangefromtheneedtosubscribewithanoperatorup-frontandthenonlytoprovisionthemobiledevice,tohavingthefullchoiceofoperatorsrightonthehomescreenofthemobiledeviceitself.

With5G,anumberofnewusecasesandbusinesseswillbesupportedbymobileoperators.Notonlythebandwidthwillbefurtherincreasedbeyond4Gand4.5G(carrieraggregation),butalsonewfunctionalitiesareintroducedandlatenciesarefurtherreducedtomstime-scalesbynovelarchitecture concepts such as edge-computing, network function virtualization, and networkslicing.

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IndustrialIOTand–assupportedbyrecentannouncementsofVodafone–alsoconsumerIoTisexpected to become a next growth engine. While the majority of connected devices will beaggregatedthroughnon-SIMbasedconnectivity, theSIMbasedconnecteddeviceswill requirenovelwaysofmanagementandtosupporteaseofusefortheentireIoTsolution

Thesolutionwedeliver:DENTissettoembracethenewtechnologiesandsupporttheresultingusecases.

TheDENTmarketplaceperfectlycomplementseSIMenableddevices,sothattheusercanfreelychoose the optimal data package needed, nationally and internationally. This ease of usewillrequirethesupportofmobileterminalOEMsandtelcos.

DENT Wireless aims to provide the most cost efficient and user-friendly architectures andtechnologies.Forinternationalroamingtoday,thedatatrafficoftheroamingcustomerissenttohishomeoperator,andonlythereisterminatedintotheinternet.This isdonetohavecontroloverthedatatrafficforbillingpurposes,andisusedtoimposeformanycustomersperceivedhighroamingcharges.

However,analternativearchitecturecalled“localbreak-out”(“LBO”)canbemorefavourableandhas long been discussed – also in the context of the EU regulation.With local break-out thecustomer’strafficisdirectlyterminatedintotheinternetfromtheroamingnetwork,thusavoiding(highcost)internationaldatatransferandassociatedlatencies,muchmoreinlinewiththespiritof5G,andgiving thehostoperatormuchmore flexibility to serve the roamingcustomerwithfavourableratesanddedicatedqualityofservice.

TheDENTplatform–beingfullyautomatedandgloballyscalable–isideallysuitedtosupportIoTusecases,whereaconnecteddevicewithcertainsoftwarerequiresdedicatedconnectivity,butallthisatideallyzeromaintenance.ConnectingIoTdevicesautomaticallytotheDENTplatformcanguaranteeavailabilityofmobiledataatfullytransparentcostcontrol.

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9.2 WhyMobileRoamingupfordisruption–andtheroleofDENT

• Driversforthehigh–andsometimesincrediblyhigh–retailpricesforroamingcustomersareinterconnectcosts,datacarrierfees,margintothehomeoperatorandothers

• Totalcostscouldbereducedbyterminatingthecustomer’sdatatrafficdirectlyintotheinternet, rather than routing it back to the homeoperator, aswell as by reducing theexpectedmarginandbyotherwisesmartdatatrafficmanagement(cachingetc.)

• Localbreak-outfordatatrafficisnotemployedtoday.Reasonsaremulti-fold,suchaso Economicconsiderationsoflocalretailvs.internationalwholesalepriceso Existingbi-andmultilateralroamingagreements,whicharefurthercomplicatedby

thebalanceofin-andout-roamingcustomers,whicharealsooptimizedbytrafficsteeringintodifferentroamingnetworks

o Lackingbillingrelationshipofthelocalproviderwiththein-roamingcustomero Overalltrafficsteeringconsiderations,e.g.cashingoflocalcontento Standardpractisetoavoiddirectcustomer(marketing)communicationtoforeign

in-roamingcustomerso Incaseofpuredatalocalbreak-out,thecustomerwouldnotbereachableonGSMA

voiceandSMSo For first-time network connect, the customer has to manually select the right

operator for local break-out (unless it happens to be the home operator pre-definedpreferrednetwork)

• DENTissettoprovidetheplatformtoovercomethosechallengeso Datapricingwillbeatlocallevel,throughthetransparentDENTmarketplaceo Nocomplexroamingagreementsneedtobeconsideredo BillingrelationshipisalreadyestablishedbetweentheglobalDENTuserbaseand

theDENTplatform,whichwillbemadeavailabletoalloperatorpartnerso All customers of the DENT community will have the DENT mobile app, so

communicationwillbetargetedanddirecttocustomer,ratherthansendingold-styleSMS

o VoiceservicescanbeprovidedthroughIPservices,suchasWhatsApp,Skype,oranownDENTcommunicationplatform;inaddition,DENTcanprovidecircuitswitchedroutingservicestobealwaysreachable

o DENTmobileappwillalsogiveaneasytouseaccesstotherightroamingnetworkforlocalbreakout

• Therearefurtheropportunitiestodisrupttheroamingmarketandprovideaglobalservice,suchasbyleveraginganownMVNOorbypartneringwithinnovativeserviceproviders

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9.3 Summaryofmobileoperatorbenefits:Revenueincreaseatlowercostinanexpandingmarket

• Increasedrevenuethrueasieraccesstobuyingdemandworld-wide• Increasedrevenuethrutheuser-to-usersales,whilegettingcommissions• Easytolaunchnewservicesandpackages,justintroducethepackagetotheexchange• Nospecialagreementswiththeoperators,justconnectingtotheDENTExchange• Costefficiency,thoughonecentralplatformapproachwitheasytoconnectmiddleware

andAPIs;scalesfavorablywithusersandusage,noincreasedhumaneffort• Platformtotestdataproposition,suchasreactiontoseasonalpricinglevels• EnablesM2M(machine-to-machine)exchangeofmobiledatapackageswithIoTdevices

Example: A Vehicle in aGPS-tracked fleetmanages its own Internet connectivity usingDENTExchange.

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10. Technology–Architecture10.1 ArchitectureOverview

TheDENTExchangeisamixofcurrentstate-of-the-arttechnologies.ThetradingsideofitisfamiliarfromStocks,Forex,etc.,whiletheconnectivitybetweenDENTExchangeandtelcosresemblesthatofavirtualoperator.Thetechnologicalchallengestherearewellknownanddefined.

10.2 ComponentOverview

10.2.1 DENTWeb-app

TheDENTWeb-appallowsmarketparticipantstoviewquotefeeds,seetheorderbookandmarketdepth,placebuy/sellorders,reviewportfolio,orderhistory,etc.ItisanalogoustoFOREXtradingterminalssuchasMetaTrader.

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10.2.2 DENTmobileapp

ThemobileappisasimplifiedversionoftheWeb-app.Itallowstheusertoseequotechartsandplacebasicorders,aswellasseecurrentportfolioandDENTbalance.

10.3 DENTExchangeComponentStructureDENTExchangeisthemaincontainerforthebusinesslogic.Inadditiontobeingatradingplatform,itwillprovideintegrationwith3rdpartytelcosandtheEthereumblockchain.DENTExchangecontainsthetradinginstrumentrepository(mobiledatapackages),managesthemarket participants and their portfolios, distributes price data feeds to trading terminals,calculatesthespreadsinthebid/offerprices,executesandmanagesorders,etc.Assuchit isausualtradingplatform.

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Image:DENTExchangeComponents

• InstrumentRepositoryTherepositorycontainsinformationofthedatapackagesavailableatDENTExchange,suchasa1GBpackagefromatelcowithacertainexpiry.Theinformationisthemetadatanotstoredintheblockchain.EachinstrumentreferencesasmartcontractintheEthereum.

• PriceData

Pricedata,includingreal-timebid&offerorderbook,isstoredinahighspeedcacheandfedbacktothewebappandmobileapps.Thedataincludeslastclosedtradeprice,currenthighestbidandlowestofferandmaycontaintradevolumeandorderbookdepthdata.Historicalpricedataisavailableforthe1m,5m,15m,30m,1hand4hperiods.

• PortfolioManagement

Atraderintheexchangewillhaveaportfolioofpackagesowned.Portfoliomanagementtakes careof updating theportfolio according to executed trades and keeps the tradehistory.

• MarketMakerAlgorithmsMarketmakeralgorithmsmanagethefinalofferandbidpricesforpackages,managingthepricespreadandcontrollingthemarketsupplywiththeparameterssetattheInitialDataOffering.

• OrderManagementOrdermanagementtakescareoftheacceptanceofbidsandoffersfromthetradersintheExchange, includingriskmanagementtogetherwiththeportfoliomanagement. It feedsthe incomingorders into themarketmakeralgorithms for finalplacement in theorderbook.

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• OrderExecution

Order executionmatches bids and offers in order to fulfill the orders. Upon a fill theEthereumsmartcontractiscalledforthefinancialtransactionpartandthefulfilledorderentersintotheportfolio.

• ProprietaryAPI

Telcos can expose their APIs to the DENT Exchange, which will call them via customadapters,oropttoinstallaDENTsuppliedAPIListenerontheirnetwork.

• DENTExchangeParachainTheparachainactsasanescrowbetweentheEthereumblockchainandDENTExchange,toallowforfasterexecutionoftrades.

TheexchangediffersfromaFOREXbrokerinthattheorderexecutiondrivestheEthereumsmartcontractandalsointegratestheexchangewithexternalsystems.Thus,itactsasthecoordinatorbetweenDENTbasedassetsandreal-wordmobiledatapackages.

10.4 EthereumsmartcontractsEthereumsmartcontractsexecutethefinancialtransfersofDENT.TheyaredrivenbyeventsfromtheDENTExchange.Uponexecutionofcontractstheexchangethentakesthefocusandhandlesthe3rdpartytransactions.

10.5 VirtualOperator/TelcoTheVirtualOperatorortelcoactsasamarketmaker,providesmobiledatapackagesforend-usersandisapaymentgatewayforconventionalPremium-SMS/USSDdatapackagepurchases.Itwillbeusedtoseedtheexchange.

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11. Technology-DENTExchangeusecases&workflows

11.1 User-to-userdatapackagetransactionsUser-to-usertransactionsinvolveoneuserplacinganofferintheDENTExchangeandanotheroneplacingabidrespectively.Inthecasethesellingpartiesmobiledatapackageplanistobesplit,thetelcoofthesellingpartywillneedtoclearandlocktheofferfirst.ThebuyingpartywilllockthepurchasefundsintheDENTExchangeParachain,afterwhichtheorderentersthebooks.

Upon fulfilment, themain smart contract in Ethereum is triggered and revenue share occursaccording to the rules set at IDO (Initial Data Offering). After fund transfers DENT Exchangecoordinates thepossible splittingor cancellingof thedatapackage from the sellingparty andactivatestheacquiredpackageforthebuyingparty.

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11.2 Telco data roaming, data package transfer from user to userinternationallyInaroamingcaseacustomerwantstovisitthenetworkofanothertelco.ThetelcoservicingthecustomerwillgettherequestandarrangeforanoffertobeplacedintheDENTExchange.Similartotheuser-to-usercase,theofferwilleventuallymatchwithabidandtheorderwillbefulfilled.DENTExchangewillagaincoordinatetheactivationoftheacquiredpackage.

11.3 DENTExchangeInitialDataOffering(IDO)fortelcosTheinstrumenttradedintheDENTExchangewillenterthemarketviaanInitialDataOffering.Operatorsandwholesalersofmobiledatapackageswilldefinetheinstruments,suchasUSSprint20Gpackages,andofferthemtoagroupoftradersintheDENTExchange.ThesizeoftheinitialofferingwillbesetbytheproviderofthemobiledatapackageandDENTMobile.DENTMobilewillhandletheIDOs,aswellasactasavirtualoperator,providingdepthtothemarketwiththeirowndatapackageofferings.AnyproceedsaswellaseventualprofitfromthevirtualproviderbusinesswillberevenueforDENTWireless.

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12. Summary

• DENTliberalizesmobiledatatobetradedaseasyasanyothercommodity• DENTunitesaDENTcommunityofusersandenablethemtoeasilybuy,sell,anddonate

mobiledata,worldwide• TheDENTcommunitywillcombineacollectivebuyingpowertofacilitatepartnershipswith

telcos• DENTprovidestheDENTExchange,basedonBlockchaintechnology,andaneasytouse

DENTapplication• DENTWirelessisdrivenbyanexperiencedfounderandmanagementteamthatconsists

of serial entrepreneurs, industry veterans, internet pioneers, blockchain and paymentsystemexpertsthathaveexecutedlargetransactionandsecuredatasystemsbefore

• TheDENTlaunchandscale-upisdriveninthreephases,fromDENTcommunitybuilding,enablingdomesticmarkets,tofacilitatingaglobalsharingeconomyfordata

• OurgoalistomakeDENTTokentheworld-widecurrencyformobiledatatrading

DENTTokensalestarts12July2017at2PMLondonTime(GMT+1).

Gotohttps://www.dentcoin.comformoreinformation.

Contactus:CEOTeroKatajainenDENTWirelessLtd21/F,FuturaPlaza111HowMingStreetKwunTong,HongKonginfo@dentcoin.comwww.dentcoin.com

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