ALETHENATRANSPARENCY AS THE FUNDAMENTAL RIGHT OF VALUEDEMOCRATISATION

23 March 2018

INTRODUCTION

«ICO Exit Scams after Listing Ryan Gosling as Graphic Designer»*

*https://www.ccn.com/ico-exit-scams-listing-ryan-gosling-graphic-designer/1

INTRODUCTION

«Cryptocurrency DOWN 22.5 per cent in one week amid regulation fears»*

*https://www.express.co.uk/finance/city/930060/Bitcoin-price-bitcoin-news-bitcoin-latest-cryptocurrency-news-market-price2

INTRODUCTION

«Cryptocurrency DOWN 22.5 per cent in one week amid regulation fears»*

*https://www.express.co.uk/finance/city/930060/Bitcoin-price-bitcoin-news-bitcoin-latest-cryptocurrency-news-market-price3

THE CORE TEAM (1/2)

We are a team of highly motivated and dynamic colleagues with the passion for innovation, broadly diversified skills, and the goal to redesign the future of capital markets

Pascal Marco Caversaccio, Co-Founder & CEO

§ M.Sc. UZH ETH in Quantitative Finance

§ Blockchain enthusiast & early adopter

§ Sound strategic & technical competencies

Tim Glaus, Co-Founder & COO

§ M.A. UZH in Banking & Finance

§ Avid cryptocurrency & ICO trader

§ Seasoned investment analyst

Markus Hartmann, Co-Founder & President

§ M.A. UZH in Banking & Finance

§ Crypto enthusiast & early adopter

§ Seasoned ICO investor

Alexander Thoma, Co-Founder & CFO

§ M.A. UZH in Banking & Finance

§ Blockchain & cryptocurrency enthusiast

§ In-depth firm analysis competencies

4

THE CORE TEAM (2/2)

We are a team of highly motivated and dynamic colleagues with the passion for innovation, broadly diversified skills, and the goal to redesign the future of capital markets

Benjamin Rickenbacher, CSO

§ M.Sc. ETH in Mathematics

§ Avid supporter of blockchain applications

§ Strong technical & scientific background

Pascal Brun, UI/UX Designer (Technical Partner)

§ Swiss Certified Computer Scientist

§ Extensive crypto-related UX experience

§ Team member of Papers.ch

Dominik Schöni, Software Engineer (Technical Partner)

§ M.Sc. UZH Software Systems

§ Crypto enthusiast & early adopter

§ Team member of Papers.ch

Niklaus Knecht, Visual Designer (Technical Partner)

§ B.A. Zurich University of the Arts

§ Seasoned visual designer in the crypto space

§ Team member of Papers.ch

5

27 March 2018

6THE STRATEGIC ADVISORS (1/2)

The strategic advisory board represents our external conglomerate of professional- and academic expertise fostering the successful final development of our platform

Prof. Dr. Thorsten Hens, Strategic Advisor

§ Professor of Financial Economics

§ Co-Founder of Behavioural Finance Solutions

§ Seasoned strategic advisor

Luzius Meisser, Strategic Advisor

§ Founder of Bitcoin Association Switzerland

§ Board member of Bitcoin Suisse

§ Founder of Meisser Economics

Prof. Dr. Urs Wälchli, Strategic Advisor

§ Professor of Finance

§ Strategic advisor at Thrive ICO

§ Venture financing expert

Israel Serrano Ortiz, Strategic Advisor

§ Senior Manager Accenture Spain

§ Blockchain lead Spain, Portugal, Israel

§ Technical blockchain expert

27 March 2018

7THE STRATEGIC ADVISORS (2/2)

The strategic advisory board represents our external conglomerate of professional- and academic expertise fostering the successful final development of our platform

Pascal Forster, Strategic Advisor

§ Board member of Crypto Finance AG

§ Co-Founder of Crypto Finance Conference

§ Seasoned startup investor

INTRODUCING ALETHENA

Alethena explained in 100 seconds

8

RATING METHODOLOGY

What are the key success factors of an ICO

Technical Challenges

Business Challenges

Legal Challenges

Governance Challenges

020304

01

9

Communication

□ Twitter

□ Medium

□ YouTube

□ BitcoinTalk

□ Telegram

□ GitHub

Overall Technology Business Legal Governance Appearance

TezosCurrent Overall Rating

7.0(14 Dec 2017)

Tezos Rating Synopsis

The Tezos project has been in development forover three years and was entirely self-funded untilSeptember 2016. Their white paper can be tracedback to September 2, 2014 that propagates a self-amending crypto-ledger.

The USP of the project is their new governancerules for network stakeholders to approve protocolupgrades that are then automatically deployed onthe network. In other words, they try to address toissue that first generation blockchains tend to

empower centralised core development teams orminers to formulate design choices.

The project entails a strong founding developmentteam, whose academic experience spans fromphilosophy to physics, mathematics and computerscience, along with professional experience thatincludes positions at Goldman Sachs, MorganStanley, The Wall Street Journal, and Accenture.Moreover, the technical prototype has beenalready in development for some time and theTezos foundation is presided by Johann Gevers,the founder of the Crypto Valley Association in

Zug, Switzerland.

Overall, the combination of the sound technicalprototype, the Swiss-backed legal setup, and theproper independent governance setup of the Tezosfoundation provide a decent foundation for theexecution of a promising project.

Timeline

Overall

8.1Technology

6.8Business

8.6Legal

9.3Governance

7.5Appearance

7.8Evaluation Date

15 June 2017

Documentation□ Official Website

□ White Paper

□ Position Paper

□ Pitch Deck

Status Quo Outlook

+

• Decent state of technical prototype• Strong core team • Sound Swiss-based legal setup• Technology patented• Independent governance structure of foundation• High level of transparency in terms of project details• Proper marketing activities

• Taking the first generation blockchain developments to the next level -> decentralisation of of protocol development

• Kathleen Breitman was working for R3 consortium -> potential connection here to be leveraged for industry co-operation

-

• ICO roadmap not very detailed• Very few strategic parterships• Website design lacks user experience• No information about token issuance date

• Questionable Swiss foundation model• Potential legal issues with the US government since the DLS

Inc. – the company owning the Tezos-related intellectual property – is a US-based firm

ICO September November DecemberPre-ICO

Draft

Draft

Rating Chart

ALETHENA’S ROLE

How a rating agency comes into play

Alethena• Initial ICO Rating• Post-ICO Rating Listing

Supply Side: Analysis and Rating

• In-Depth Analyses Access• Personalised Insights

Demand Side: Investors Information Portal

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UNIQUE SELLING PROPOSITION

What makes Alethena unique

Independent, objective, and neutral due diligence and rating methodology

Pre- and post-ICO coverage with regular updates

Fair and transparent pricing

Sophisticated and user-friendly portfolio management cockpit

Swiss company and team

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NEXT STEPS – Q&A

1. Visit our website – https://www.alethena.com

2. Register for our newsletter

3. Join our Telegram community – https://t.me/Alethena_OFFICIAL

4. Participate in our token sale ;-)

� “Reminder: cryptocurrencies are still a new and hyper-volatile asset class and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.” – Vitalik Buterin (Ethereum Founder)

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TOKENISED ASSETS (1/2)

Financing trend by startup companies

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TOKENISED ASSETS (2/2)

Legal aspects

Token Classes*

Payment Token Utility Token Asset Token

Dividend Process

Board of Directors General Assembly

Mandatory Reserves

Dividend Proposal Online Assembly Dividend Distribution

*https://www.finma.ch/en/news/2018/02/20180216-mm-ico-wegleitung/15

DISTRIBUTED LEDGER TECHNOLOGY

Generally speaking, a blockchain is only one of the many types of data structures that provide secure and valid achievement of distributed consensus

BitcoinBlockchainDistributed

Ledger Technology

Tangle (IOTA)

Hashgraph

…

16

BLOCKCHAIN TECHNOLOGY

What it is and how it does work

Source: https://blockgeeks.com/guides/what-is-blockchain-technology/17