Rawdon AdamsEmail: rawdon@bitt.comhttp:www.bitt.com 1

Bitt Company Introduction

@Caribbean Association of Banks Miami FL.

June 8, 2019

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What has created Bitt?What is possible?● Emergence of blockchain technology opens the

window to create substantial new company.

● An interoperable Central Bank Digital Currency (CBDC) makes it possible to leapfrog traditional development process.

● Intermediary-free model well suited to financial transactions. Up to x10 cost/value benefit to financial institutions, government and merchants.

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Merchants Where Digital Currency must out-perform:

Actions:

Objective of the Enterprise business:

WHERE TO PLAY

Where to play:CENTRAL BANKS: Reduce costs of cash reliance,

poor settlement times, and de-risk through improved KYC/AML.

Merchant/Consumer Wallet: Strong need for cash replacement in highly unbanked regions, leveraging

high smartphone penetration.

VISION: To create a blockchain enabled digital currency ecosystem. AMBITION

• Build software that allows Central Bank to securely manage currency in a digital environment.

• Build monitoring and reporting functions to ensure transparency and security.

• Build software that allows the distribution of digital currency intra-bank and to customer wallets.

• Build settlement software.

• Integrate to Financial Institution.

• Build Bill Pay solution

• Build Payroll solution

• Develop Multiple location functionality.

• Integrate with POS system.

• Support multiple currencies• Support Integration to Financial

Institutions.• Develop training programs to support

all applications.• Develop sales and marketing strategy

for regional expansion.

GOVERNMENTS: Work with governments in developing countries who are rebuilding their infrastructure via

“e-government”.

Reduce high cost of minting, issuance, and handling of

physical currencies.

Simplify the disbursement and collection of government

funds.

Reduce high cost ofKYC-AML compliance and

settlement times.

Implement a convenient cost saving alternative to cash and

credit.

Securly transact with governments, utilities, merchants, and peers

without a bank account.

Governments Financial Institutions ConsumersCentral Banks

Priority Actions/Initiatives

Bitt Enterprise Vision: faster, cheaper, more secure payments through blockchain technology

❏ Major client reference: Eastern Caribbean Central Bank❏ Strong strategic partner in Overstock.com Inc.❏ Within Barbados regulatory regime❏ Unique Digital Monetary System as a Service offering❏ Founding member of the Caribbean Settlement Network

Working Group❏ Compatibility with most existing LFI back office software❏ Market leading smartphone wallet app (22% CAGR)❏ Experienced team, proven execution❏ Founded in 2013 / 50 employees

Bitt “Fast Facts”

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Pilot

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This ECCB CBDC pilot is the first of its kind and will involve a securely minted and issued digital version of the EC dollar (DXCD).

The DXCD will be distributed and used by Licensed Financial Institutions (LFIs) and Non-Bank Financial Institutions across the ECCU. The DXCD will be used to satisfy financial transactions between consumers and merchants, including peer-to-peer transactions, all using smartphone applications.

"Besides its historical and financial impact, the interest this pilot has spurred from central banks around the globe has reinforced

our expectations, not only of market demand, but also of how we can impact economies. We've been looking for a domino to fall

and the first one seems to have."

Rawdon AdamsCEO, Bitt Inc.

Eastern Caribbean Central Bank

Central Banks

Commercial Banks/E-Governments

Cost of minting, securing, shipping and storing currencyMaximizing seigniorageTransaction costs

De-riskingCost & efficiency of KYC/AML processingSettlement times & transaction costsOffering a mobile banking product

MerchantsHigh credit card transaction and bank feesProcessing large transaction volumes of cashLimited access to e-commerce and mobile productsFinancial inclusion

ConsumersInconvenience of having to top up mobile phones and pay billsHigh banking fees and long settlements when sending or transferring moneyFinancial inclusion

Inefficient monetary systems in developing countries create stakeholder problems for:

The Problem

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Commercial Banks/E-GovernmentsUses CBDC for KYC/AML, interbank transactions, settlements

Disbursement of gov’t funds, payment of gov’t fees and taxes

Central BanksMint, issue, revocate central bank digital currency (CBDC); cross-border payments

MerchantsMobile solution that uses CBDC for B2B, customer transactions, cross-border payments, vendor payments, e-commerce, payroll and internal cash management

ConsumersFree Mobile Solution that uses CBDC for payments, top ups, bill pay, government fees, taxes, person to person payments, and person to person cross-border payments

The Solution:Bitt’s Currency Network

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Person to Person Consumers + Merchants

Create an ecosystem of consumer-to-consumer, consumer-to-merchant, merchant-to-merchant, and merchant-to-consumer solutions. Conversions accelerated with targeted marketing, dedicated sales team, financial and retail partners (credit unions, gas stations, grocery stores), and organic growth.

Central Banks + Commercial Banks/E-Governments

Engage central banks through pilot programs and sandboxes which involve central banks, commercial banks, government entities, merchants and consumers

Go To Market Strategy

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mMoney WalletGetting started with mMoney is Free and Easy. You don't need a bunch of documents, a debit or credit card, or even a bank account to use your own money.

Access your money from anywhereall you need is a mobile device and a strong WiFi or data connection.

Secure your moneyKeep unwanted hands and eyes off your money with new biometric login options

Send and receive to anyone, anywhere..Send money to anyone using the mMoney app with the touch of a button.

Track your moneyView your balance and all of your executed transactions at anytime.

Mobile Phone Top UpsTop up your phone or anyone else's using the mobile provider of choice.

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mMoney Merchant

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mMoney Merchants enjoy low fees, faster transactions, increased profitability, efficiency and security through the mMoney app. Go cashless and paperless! #gogreen

Low transaction feesYou shouldn't have to pay a ton of fees per year. Less fees means more money working for you.

Fraud PreventionWe provide the tools to help businesses detect and prevent fraudulent transactions.

No ChargebacksChargebacks are a costly and unfortunate fact of life for many businesses. No worries.

Ease of accepting paymentsReceive instant mobile money payments wherever you are.

Make PaymentsB2C

Bill Payments

Person to Person sending

Teller

Vendor

E-Commerce

Consumer MerchantUsers are able to send digital money to anyone, anywhere.

Consumers are able to purchase goods and services at over 1000 + merchants islandwide

Top Up

Users can top up their data and minutes directly in the app

Users can pay their utilities via the app avoiding long lines and bank charges

A merchant teller facilitates users in the adding of funds to their wallet.They receive lower transaction costs.

Merchants can process transactions via the app at a much lower cost than traditional methods.

Merchants can integrate our online payment solution into their website and provide their customers with a cheaper, alternative payment method

mMoney Ecosystem

Consumer

Product launched December 2017

Over 10,000 consumer wallet holders (+797%, 22% CAGR for 2018)

Over 1,000 merchants (+488%, 17% CAGR for 2018)

Digital payments sandbox overseen by Central Bank of Barbados & Financial Services Commission

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February 2019: ECCB awards digital currency pilot contract to Bitt

TractionPenetration

Governor of the ECCB, Mr. Timothy Antoine, and CEO of Bitt Inc., Mr. Rawdon Adams, after signing the contract to launch the ECCB CBDC pilot.

Signed Memorandums of Understanding with:

The Caribbean Telecommunications Union

PriceWaterhouseCoopers

Caribbean Confederation of Credit Unions (CCCU)

Government of Montserrat

Eastern Caribbean Central Bank (ECCB)

MSME Stakeholder Groups

Caribbean Tourism Organization (CTO)

IBIS Management Associates

Insurance Corporation of Barbados Limited (ICBL)

TractionPartnerships

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Prime Minister of Barbados, Honourable Mia Mottley and CEO of Bitt Inc., Rawdon Adams at mMoney press conference.

Rawdon AdamsCEO

Rawon has a background in finance with 25 years public sector, Fortune

500 company and start-up experience, holds degrees in

economics and political sociology from the University of South Carolina

and the London School of Economics.

Brian PopelkaPresident / COO

Brian was one of the earliest employees at Overstock.com and has held senior executive roles in

merchant and customer support, as well as talent management. He will bring experience in digital startup

growth and infrastructural expansion to Bitt.

Patrick HidalgoCFO

Patrick helped a hedge fund grow from $100MM to $600MM assets under management. Securitized

$15B worth of alternative mortgage loans. Active investor in blockchain

since 2015. Has mentored many startups through the pitching and

due diligence process.

Marla Dukharan Chief Economist

Marla is recognized as a top economist in the Caribbean, and a

leading voice to reduce gender and income inequality and

promote sustainable models for growth. Marla joined Bitt in 2017 seeking to increase financial and

economic inclusion directly.

Sade JemmottGeneral Counsel

Sade is an attorney-at-Law and Certified Trust and Estate Practitioner,

with a background in international commercial law and corporate

advisory services. Professionally focused on the legal and regulatory issues in the financial technology

industry, this Chevening Scholar also holds a Master of Laws as well as a

Master of Science in Integration Studies.

Simon ChantryCBDO

Simon is an honors graduate in Mechanical Engineering, Simon

worked in nuclear commissioning and structural design prior to

switching focus to DLT in 2012. Simon has held a number of

positions since co-founding Bitt, including Director, CBDO, and

COO.

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The TeamManagement

Merchants

Commercial Banks/E-Governments/Credit Unions

Central Banks

Aone now Accepts mMoney

Insurer, Fintech Firm in New Cooperation Deal

IBIS Management Associates Inc, a Curaçao FinTech company, enters into MOU with Bitt Inc.

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PublicRelations

ECCB to Issue World’s first blockchain - based Digital Currency

Bitt, Central Bank and FSC on right track with Regulatory Sandbox Framework

Bitt and Montserrat Gov’t Sign MOU to Create Digital Payment Systems

A Whole New Digital Money World for Barbados

Gov’t: Online is the Way to Go

Press Conference Announcing the Start of the Sandbox

Rawdon Adams Email: rawdon@bitt.com

Http: www.bitt.com

Get in

Touch

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