FingerWallet

WHITEPAPER

Presenting the new era of payment.

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TABLE OF CONTENTS

1 ABSTRACT2 PROBLEM STATEMENT2.1 CURRENT LIMITATIONS 2.2 THE FUTURE IS CRYPTO3 SMARTPHONES’ ADVANCED BIOMETRICS4 EVOLUTION OF CRYPTOCURRENCIES4.1 BUSINESS OPPORTUNITIES4.1.1 KEY FINDINGS

4.2 BLOCKCHAIN AND RETAIL IMPLEMENTATION5 VISION5.1 SOLUTION - APPROACH5.2 GOALS6 FINGERWALLET SMARTPHONE APPLICATION6.1 FEATURES6.1.1 SAFETY

6.1.2 CUSTOMIZABLE

6.1.3 MULTIPLE COIN SUPPORT

6.1.4 DECENTRALISATION

6.1.5 EASE OF USE

6.1.5.1 CONSUMER

6.1.5.2 MERCHANT

6.1.6 FEELESS

6.1.7 IN-APP STORE LOCATION MAP

6.2 FINGERWALLET SETUP7 FINGERWALLET ECOSYSTEM FUNDAMENTALS7.1 BASIC COMPONENTS7.2 TECHNICAL OVERVIEW AND FEATURES8 ROADMAP 9 FGW TOKENS 10 TOKEN GENERATION EVENT11 CONCLUSION12 REFERENCES

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1 Although cryptocurrencies are thriving, they are still not

developed or accepted widely enough for proper real life use,

i.e. an exchange for goods and services. A widespread adoption

of smartphones with an emergence of blockchain technology

and cryptocurrencies, presents a unique opportunity to create a

payment system which is secure, easy to use, and implement.

We consider ourselves pioneers in the field of biometric

cryptocurrency payment. FingerWallet is a blockchain wallet that

is always on your person. You can pay with your own biometrics,

be it your finger, palm, face or any other available biometrics. With

FingerWallet you connect them to your crypto-wallet and it is ready

for use. As biometrics and non-biometrics are complementary to

each other, we suggest considering both of them in a practical

user authentication scheme, aiming to enhance both security

and usability. The app will also function as a cash register, so

anyone with a smartphone will be able to implement and receive

cryptocurrency payments in their store in no time. The rise of

blockchain represents a paradigm shift and FingerWallet aims to

accelerate this radical change towards a fairer payment system.

ABSTRACT

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2 PROBLEM STATEMENTWith the emergence of blockchain, the world economy and technology are turning

a new page. With the latest boom in cryptocurrencies, a new paradigm has been

introduced. The technology is still in its infancy, but is evolving rapidly. Unfortunately,

most cryptocurrencies are being perceived and used as an opportunity for a quick profit

and Bitcoin being regarded as a store of value – a digital equivalent of gold. Although this

is by no means fatal, it has lost its initial intent:

We are aiming to provide a solution to that problem and to put the original idea by Mr. Satoshi

Nakamoto back on track. Our further goal is to accelerate and simplify the integration

of cryptocurrencies in our daily life payments. What is more, the current fiat system is

not sustainable. Influenced organisations have power to print money, therefore some

sort of a collapse of the economy is quite possible. With the emergence of blockchain

technology and cryptocurrencies, we have been provided with an opportunity to give the

power back to the people.

2.1 CURRENT LIMITATIONS• Contemporarily, people use their cryptocurrencies as if they were digital gold. Although

things are moving into the right direction, they are still far off their original intention of

practical use.

• An awkward setup for both the customer and the merchant, as they both require some

sort of basic knowledge before the use of the system. It is especially difficult for older

generations that have difficulties following current trends and technologies.

• An impractical mode of payment. Most modes of payment are clunky and awkward.

Few stores have a setup where the customer just scans the QR code, in which every

detail of the transaction is embedded.

• Long processing times. Time constraints differ from coin to coin. Even specific coins’

times vary throughout time. A transition from one coin to another is difficult, for the

customer and for the merchant.

• High fees. Fees are the same as processing times, they vary from coin to coin. It is

important to note that almost all apps charge an additional fee when a transaction

occurs.

„A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.“ - Satoshi Nakamoto

„What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.“ - Satoshi Nakamoto

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2.2 THE FUTURE IS CRYPTOConcerning the use of cryptocurrencies as payment, things are looking up. For example,

just last year, more than 260.000 stores supporting crypto-payment opened up in Japan

[1] and South Korean outlets are planning to do the same [2]. The number of stores sup-

porting crypto-payments is growing exponentially. Here is where FingerWallet comes

into play. The number of people using and owning a smartphone is bigger than ever.

Their power and versatility enable an implementation of various apps, data input, and the

design of an authentication system.

3 SMARTPHONES’ ADVANCED BIOMETRICSWhy biometrics? They provide a more reliable user authentication. While biometric

systems aren’t foolproof, significant strides have been made to identify its vulnerabilities

and the research community is rapidly developing measures to counter them. Biometric-

based authentication offers several advantages over other authentication methods such

as passwords, passphrases and PINs. The main one being that the fraudster may match

everything but matching a person’s biometric properties is nearly impossible. “Biometrics”

is a term associated with the utilization of unique physiological characteristics in order to

distinguish an individual. Biometric payment is not a novelty, but its market growth has

been held back due to lack of credibility, coordination, financial and other resources,

although consumers seem to be ready to use biometrics for securing payments [3,4].

By introducing blockchain and cryptocurrencies into the equation, the credibility,

coordination and development of the technology is vastly amplified. Furthermore,

we can take the advantage of every smartphone’s biggest input/output device: the

touchscreen. It can and it will be used for different authentication protocols which will

make FingerWallet even more secure. It has been shown that it can even be used as an

image sensor. Graphical user authentication (GUA) has been researched as a possible

alternative solution to text-based authentication, motivated particularly by the fact that

humans can remember images better than text, PassDoodle and PassPoint being the

typical examples. By reviewing a large number of related works, we came to a conclusion

that physiological biometrics can provide an exceptionally high authentication accuracy.

Although biometric authentication is encouraging, we find that it is difficult to replace

all password and token-based authentication with biometrics. As stated in the abstract,

biometrics and non-biometrics are complementary to each other, thus we suggest

considering both of them in a practical user authentication scheme, aiming to enhance

both security and usability. Moreover, we identify that some open problems and balances

should be considered when designing biometric systems and point out that with the

development of touchscreens and camera software, it will become more important

and useful in designing future biometric authentication mechanisms on mobile phones.

For instance, the use of multi-touch gestures provides more choices and subsequently

enlarges password entropy and increases the difficulty of observation and smudge

attacks.

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Figure 1 - Existing user authentication methodologies

The development of the touchscreen has greatly reformed human-computer interaction.

With the wide adoption of smartphones, touch screens have become the leading

input method on the mobile platform. An advancement in payment technologies has

an important impact on one’s quality of life. Emerging payment technologies create

both opportunities and challenges for the future. Being a fast and convenient process,

contactless payment is gaining momentum, especially with merchants, throughput

being the main parameter. More people in the world own a smartphone than a computer.

It is estimated that there are 2.1 billion smartphone users worldwide and this number

could reach up to 6.1 billion by 2020. Smartphones function as just about everything; as a

phone, a camera, a computer, or even a payment wallet.

Figure 2 - Penetration of smartphones with biometric technology worldwide from 2016 to 2020 [3]

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4 EVOLUTION OF CRYPTOCURRENCIESThe disruptive potential of cryptocurrencies, given the ongoing crisis of the current debt-

based fiat-money system, opens avenues for discussion and research on the micro, meso,

and macro levels of business ethics. In contrast to the current monetary system run by

governments, central and private banks, cryptocurrencies offer a trust-independent and

technology-based means of currency generation and value exchange.

4.1 BUSINESS OPPORTUNITIESGiven the near-zero transaction costs of some cryptocurrencies, existing business models

for money transfer are now being challenged. New opportunities emerge as transaction

costs and intermediary institutions disappear, particularly for micro businesses at the

base of the pyramid as well as for micro-transactions in ‘crowd-and-cloud’ environments.

More and more businesses are accepting cryptocurrencies as mediums of exchange.

A rigorous mapping of this expansion would enable business actors, among others, to

better understand and offset looming volatility risks and generally make sound policy

decisions in this fast-changing field.

A global cryptocurrency benchmarking study, performed in 2017, showed [6]:

• The current number of unique active users of cryptocurrency wallets is estimated to be

between 2.9 million and 5.8 million.

• The percentage of active wallets ranges across different providers from a low of 7.5% to

a high of 30.9% of total wallets, but wallet providers define ‘active’ differently

• Between 5.8 million and 11.5 million wallets were estimated to be active at the time of

study.

• 73% of wallets do not control private keys (meaning they do not have access to user

funds); 12% of wallets let the user decide whether to have sole control over private keys.

• 32% of wallets are closed source; all custodial wallets (wallet provider holds private

keys) are as well.

• Mobile wallet apps are the most widely offered format, followed by desktop and web

apps.

Figure 3 - Number of active wallets from 2013 – 2017

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4.1.1 KEY FINDINGSWhile 79% of payment companies have existing relationships with banking institutions

and payment networks, the difficulty of obtaining and maintaining these relationships is

cited as the sector’s biggest challenge. The bitcoin network is used by 86% of surveyed

payment companies as a main payment rail for cross-border transactions.

The use cases for cryptocurrencies can be grouped into four major categories:

• Speculative digital assets / investments

• Mediums of exchange

• Payment rails

• Non-monetary use cases

A 2016 joint report from Coinbase and ARK Invest estimates that 54% of Coinbase users use

bitcoin strictly as an investment. Estimates of the use of cryptocurrency for payments have

varied significantly across different sources. For example, a 2016 report from the Boston

Federal Reserve has estimated that 75% of US consumer who own cryptocurrencies have

used them for payments within a 12 month period, while the Coinbase/ARK Invest report

indicates that 46% of Coinbase users use bitcoin as a ‘transactional medium’ (defined as

making at least one payment per year). While a growing number of merchants worldwide

are accepting cryptocurrency as a payment method, it appears that cryptocurrencies

are not primarily being used as a medium of exchange for daily purchases. This is due

to several factors, including price volatility and the lack of a ‘closed loop’ cryptocurrency

economy, in which people or businesses would get paid in cryptocurrency and then use

cryptocurrency as a primary payment method for everyday expenses. As cryptocurrency

systems are not bound to a particular location or jurisdiction, the integrated payment

network has a global reach and can be used to transfer funds within a short time

period, all over the world. In a lot of cases, transaction fees are substantially lower than

fees charged by traditional payment network operators, as they are not based on the

amount transferred, but rather on the transaction size measured in bytes. Payments

are irreversible once funds have been transferred and received enough confirmations.

This poses significant advantages for merchants as they can benefit from lower fees

and avoid chargebacks. In addition, no personal identifiable information such as contact

details, credit card numbers or passwords need to be stored on insecure servers which

can be subject to security breaches, as users are identified only by their cryptocurrency

address derived from the public key.

4.2 BLOCKCHAIN AND RETAIL IMPLEMENTATIONIn a 1999 interview, Professor Milton Friedman, an American economist who received

the 1976 Nobel Memorial Prize in economic sciences for his research on consumption

analysis, monetary history and theory, and the complexity of stabilization policy, said the

Internet would be a major force in reducing the role of government. The one thing that

was missing but would soon be developed, said Friedman, was reliable e-cash. Less

than 10 years after the introduction of bitcoin and hence crypto as a whole, various

cryptocurrencies continue to gain acceptance as a form of payment. As their price rises,

the media pays more attention to it, making more people aware of its use as both an

investment and a convenient way to pay for goods and services. The convenience of

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receiving payments within seconds, with minimal transaction fees, provides significant

benefits to a business. More retailers, both physical and online, are accepting crypto as

a form of payment from their customers [7]. Cryptocurrency and retail, from traditional

brick and mortar to e-Commerce, are a perfect match, and as more businesses adopt

blockchain-based solutions, consumers will be actively seeking them out. Following

the crypto-market‘s massive upward trend and growing legitimacy with brand-name

businesses, you might be wondering why more businesses haven‘t jumped on board.

Many coins are still exceptionally volatile and even overnight settlements could result in

businesses losing out on a lot of money. Some of that volatility is technology-driven, which

is important to remember. The developments around the technology are advancing at

a breath-taking pace. As for the retailers, if they were ignoring it or thinking they would

wait until later to start implementation, the time is now. While blockchain is not going to

revolutionize retail tomorrow, there are enough changes coming and enough real players

involved in innovation and investment that retailers need to pay attention to how it will

impact their industry.

There is a lot of potential demand for crypto-currencies from a consumer perspective,

but as of time of writing, setting up a digital wallet is a somewhat complex process. The

question that sparked FingerWallet was: “Is there a way to make it easier?”

The bottom line for retailers is that blockchain is not going anywhere. There have

been significant developments across the board and we have come to a point when

it is time to pay attention to the technology and where it is headed next. A new era of

transactions and banking has already started. The transparency of virtual currencies will

change the business world dramatically. What key challenges need to be addressed

before cryptocurrencies can achieve widespread consumer adoption? Trust in service

providers, price stability and technology performance. A near future is envisioned, one

where Blockchain-based currencies are adopted by millions of people across industries

and geopolitical entities. It may or may not be a modified form of Bitcoin: there are a

number of regulatory and functional challenges inherent in Bitcoin’s current iteration. A

large number of developers and entrepreneurs are working to address them. There are

some disadvantages of using crypto currencies. In order to properly store and use digital

currency, one must have a certain degree of technical understanding of the system.

This is one of the most challenging parts of the cryptocurrency society. The more you

understand the system, the safer your account will be. Most of the top digital currency

cryptography is volatile because of the fact that the amount of coins is limited in amount

while the demand for it increases. Economic researchers expect that the volatility will

decrease as time passes by. Although some merchants accept payments through

blockchain, it is far from being widely accepted. Some people do not even know that it

exists. Cryptocurrencies are still in its infancy stage [8].

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5 VISIONWe firmly believe that in the near future, cryptocurrencies will change our notion of mo-

ney as we know it. We are striving towards cutting edge trends and plan on being one of

the world’s first to present a modern payment method to the world. We present to you

a crypto-wallet that is always on your person, even when you don’t have a phone or a

classical wallet with you. From now on, FingerWallet is all you need.

Just imagine paying for goods simply by entering your credentials or by scanning your

biometric property on a merchant’s phone. Simply, safely, and quickly. Our app will be

suitable for everyone. Sleek, simple to use and without any extra cost for the consumer.

Our main goal is to simplify the setup process for the merchants, making it easier to

accept crypto-payments and thus bring it one step closer to mass adoption.

5.1 SOLUTION - APPROACHWe are developing an app that connects your initial input data, as in the data template

configured from your provided biometric scan, with your crypto-wallet. Moreover, a

custom username and password will also be linked to your crypto-wallet, should you

choose to go with that option. There will be a variety of biometric signatures to choose

from, such as a fingerprint scan, palm scan, facial scan, etc. As smartphone tech makes

leaps in development on a yearly basis, we will closely monitor all authentication

possibilities that a smartphone offers, while maintaining the simplicity and ease of use.

As mentioned, the user initially enters biometric data which is then processed by an

algorithm and a data template is created. Only this data leaves the smartphone and is

then used to confirm payment. It is impossible to reverse engineer this process. At first

we will support several widespread coins. Further down the road, our app users will

have a choice to contribute in a poll to help us choose the next coin that will be added to

FingerWallet. The widespread adoption of smartphones combined with the emergence

of blockchain technology and cryptocurrencies presents a unique opportunity to create

a payment system, which is secure, easy to use and implement. Being at the forefront of

this technology, we believe that FingerWallet can and will seize this opportunity.

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5.2 GOALSAs big supporters of blockchain technology we strive towards its expansion and mass

adoption. Our main goal is to create a modern, simple and feeless mode of payment.

FingerWallet offers a friendly way of payment, for both the consumer and the merchant.

All you need is a smartphone. We aim to become the #1 crypto-payment system in the

world.

6 FINGERWALLET SMARTPHONE APPLICATIONThe application serves as a link between your crypto-wallet and your biometric proper-

ties. From the consumer’s standpoint, it will serve as a biometric payment setup and cus-

tom crypto-wallet manager. For the merchant, on the other hand, it will serve as a cash

register. The number of unique crypto wallets will be practically unlimited for both the

purpose of payment and receiving funds. For the purpose of following new GDPR regu-

lations, the biometric data never leaves the device. Because of that, the phone must be

online when choosing to pay via biometrics. That is not the case when confirming pay-

ment with other credentials. The whole process is detailed in the Technical Whitepaper.

6.1 FEATURES6.1.1 SAFETY All users will have complete control over their private keys. Encrypted template data

from the merchant’s smartphone to the cloud authentication service for the purpose of

identity confirmation will be sent. Hence, if hackers try to intercept it, all data would be

Being the world’s first, we believe that FingerWallet can and will seize this opportunity.

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unusable. Data cannot be read by anyone else but the consumer’s smartphone. What is

more, we provide various security options. Consequently, the user can choose multiple

levels of security.

Additional security procedures will be implemented. The user will be free to choose

what additional procedure to enter after the biometric scan, provided that it is a primary

mode of payment.

FingerWallet offers a variety of options:

• Password: A sequence of letters and numbers

• Pattern: Standard nine point Unlock Pattern organised in a 3x3 matrix

• Dynamic PIN: Standard PIN codes and Unlock Patterns are static, thus vulnerable in

terms of a shoulder surfing attack. Dynamic Pin combines the simplicity of standard

PIN code and the randomness of number placement, which can easily be displayed

on a mobile screen. Numbers float around and are randomly generated after each

payment repetition. Unlock patterns and pin codes can be seen easily from even

moderate distance. Thieves often exploit the vulnerable static option, which is even

more exposed when using a mobile screen, as smudges are usually left visible.

Random placement of PIN numbers directly negates the flaws of common security

measures and further ensures security of your assets.

6.1.2 CUSTOMIZABLE Users will have the option to set their own daily, weekly and monthly limits. They will

also be able to choose which coin to use, set their preferred biometric or credential

authentication, etc. The app will not completely forego the current mode of payment, as

payment via a QR code scan will still be incorporated.

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6.1.3 MULTIPLE COIN SUPPORTInitially, FingerWallet will support most of the major coins i.e. Bitcoin, Ethereum, Litecoin,

Monero, etc. Users will have the rights to vote in a monthly poll to help us decide which

will be the next coin supported in our app. We expect that the community will converge

to the most stable, fastest and fee-less coin, and subsequently make our app even better.

6.1.4 DECENTRALISATION We will only support cryptocurrencies, thus all coin transfers will be decentralised. Even

the company does not falter decentralisation, for the transactions are still peer-to-peer,

with FingerWallet acting as an intermediary.

6.1.5 EASE OF USEWe strive towards simplicity. The knowledge required for proper use of our app will be

minimal for both the customer and the merchant. With our interface, it is going to be

easier than ever for people not only to pay with crypto but also receive crypto payments

- simple and safe, as it should be.

6.1.5.1 CONSUMERAs you want to pay for the bill, everything to do on your part is to use your preferred

credentials on a merchant’s smartphone, type in your provided unique user ID number

and optionally a third security precaution, and transaction is completed. You just

successfully paid the bill.

6.1.5.2 MERCHANT Simply type in the cost of the bill and wait for the customer to authorise the transaction.

Upon completion, the transaction goes straight to your wallet. In further development,

we will also add a feature to scan barcodes, linking the cash register and FingerWallet,

enabling the app to generate receipts.

6.1.6 FEELESSWe care about consumers. They are the ones paying for goods directly to the one who

sets the prices – the merchant. In that spirit, the customer will forego the fee completely.

In order for the FingerWallet company to successfully maintain its quality services, we

will charge merchants a monthly fee, which will not exceed 1% net value.

6.1.7 IN-APP STORE LOCATION MAPThere will be a map embedded into our app which will show the location of stores using

FingerWallet, which cryptocurrencies they accept and if they are open for business.

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6.2 FINGERWALLET SETUPTwo versions of the application will be developed, one for the purpose of payment (Con-

sumer Wallet) and one for the purpose of receiving payment (Crypto Cash Register). Each

user will register and create a profile, using his or hers username and password, with

fingerprint authentication enabled after the fact. The consumer will generate a custom

wallet and scan their chosen biometrics or simply go the route of non-biometric au-

thentication, which are then intrinsically connected to said wallet. Merchants will have

an even easier setup. Without the need for a biometric scan, all merchants have to do

is generate a wallet and start accepting crypto-payments. Furthermore some proof of

identity will have to be provided in order to obtain the security certificate.

7 FINGERWALLET ECOSYSTEM FUNDAMENTALSFingerWallet app will allow making payments remotely via a custom credentials system

or via using the template calculated from biometric input data, stored in the cloud

authentication service, via smart contracts deployed on the blockchain. For a more in-

depth view please refer to our technical paper.

7.1 BASIC COMPONENTSThe whole system consists of four major components:

FingerWallet app - Consumer Wallet (CW)

• User installs our app (CW) on his or her smartphone. The credentials, ie. biometric

feature or a custom credential and a unique user ID, are entered after the registration.

• FingerWallet supports a variety of cryptocurrencies.

FingerWallet app - Crypto Cash Register (CCR)

• CCR is a version of the FingerWallet smartphone app, which will be developed for use

by the merchant.

• CCR serves as an interface and an input device for the authentication of the consumer

(CW user). By doing so, the consumer generates a payment transaction.

Cloud authentication service

• Security of your privacy and data is our top priority. We will strictly conform to GDPR

and by doing so, all user information will be protected by CAS.

• It is used to verify the consumer and approve the transaction.

Blockchain

• User allocates, with the help of a smart contract, a limited amount of funds from his

FingerWallet to be spent at Crypto Cash Registers.

• When funds are about to be spent on CCR, following protocol happens:

- Available funds are checked

- If authorization is successful and funds are available, transaction is carried through

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7.2 TECHNICAL OVERVIEW AND FEATURES• Both CW and CCR private keys are stored only on their respective smartphones.

• All input authentication data is encrypted.. Data cannot be decrypted by anyone else

except by the consumer’s smartphone.

• All the transactions are handled on the decentralized blockchain system.

• Number of payments and the rating of CCR is visible prior to the payment. The con-

sumer can rate the CCR after the payment has been confirmed.

• Rating for each individual CCR will be visible via in-app store location map.

• Number of payments and ratings will serve as an indicator and foundation of trust for

each purchase and will strengthen the confidence in the whole ecosystem.

8 ROADMAPH1 2017

• Inception and start of research

for FingerWallet

• First team-members come on

board

• Start of website and whitepaper

development

H1 2019• TGE pre-contribution

• TGE public sale

• Token release

H2 2019• iOS, Android app beta application

release

• Launch of a global marketing ini-

tiative

• Establishing store partnerships

H1 2020• iOS/Android application launch

• Launch of an in-app store loca-

tion map

• Developing Crypto – FIAT con-

version support H2 2020• Addition of an advanced biomet-

ric recognition software

• Cross-cryptocurrency payment

• Final worldwide marketing push

and expansion into worldwide

markets

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9 FGW TOKENSFGW tokens will initially be based on the ERC20 standard. They will be the driving force

behind our payment ecosystem and will carry out all communications within it. The user

will send their FGW to a smart contract in order to allocate funds for future purchases.

FGW utilities:

1. It provides a way to communicate with our smart contract. It is used as a medium

which facilitates transactions and exchange of information between all involved par-

ties.

2. A currency that allows you to make a completely remote payment for an indefinite

period of time, regardless of which currency the CCR accepts. Sort of a modern Tra-

veler‘s cheque.

3. Commission currency that the FingerWallet Company charges to CCRs.

The key word is flexibility. Since it is possible to pay with essentially any cryptocurren-

cy, the only question is the integration of the wallet, which means that we are always in

step with time and constantly competitive. Our tokens will be used to unlock additional

custom wallets - smart contract profiles. The user that will want to have more than two

crypto-wallets in-app, will have to own a certain (rather small) amount of FGWs. As an

incentive for CCR owners, retaining a number of FGW tokens will correlate to a higher po-

sition in our in-app store location map, creating a sort of advertisement for said business.

Every holder will be able to contribute in a poll to help us choose the next coin which will

be implemented in the FingerWallet app and thus enabling payment with it. Furthermo-

re, CCRs that will retain FGW tokens will have extended options regarding the number of

possible accepted coins, certain discounts and other enhanced features.

For a more in-depth view please refer to our technical whitepaper.

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10 TOKEN GENERATION EVENTIn order to advance the development of FingerWallet, we will hold a token generation

event that will offer for sale a total supply of 30,000,000 FGW tokens. Pre-TGE will have

3,000,000 FGW. The pre-sale minimum purchase will be 0.1 ETH at a 50% bonus (which is

already reflected in the exchange rate) compared to the main sale. Pre-TGE will run for 7

days in H1 2019. Further information of the presale is shown in the chart below. The FGW

Token public sale will run for 16 days, or until a hard cap is reached, which is set at 18 000

000 USD. The soft cap is set at 3 000 000 USD . The exact conversion rate of ETH to FGW

will be set a couple of weeks before the start of the presale.

Pre-TGE

Bonus – 50%

Offered – 3,000,000 FGW

Minimum contribution – 0.1 ETH

Running for 7 days, H1 2019

TGE – Main Sale

Running for 16 days, H1 2019

Minimum contribution – 0.1 ETH

Main sale BONUSES

Bonuses are organised into four-day intervals.

First interval: 30% bonus.

Second interval: 20% bonus.

Third interval: 10% bonus.

Fourth interval: 0% bonus.

TOKEN DISTRIBUTION

60 % will be distributed during Token

Sale among token buyers

20 % will be held by the company for

future development

14 % will be reserved for team and

advisors

3 % will be reserved for referral system

3 % will be reserved for bounty program

35 % hiring new developers and engineers for the purpose of development and optimisation of Fingerwallet app

35 % expanding the team of security experts to provide safety for our users

25 % marketing costs

5 % legal

BUDGET ALLOCATION

11 CONCLUSION

One could condense all presented information into one word:

FingerWallet. We underwent extensive research of the technology,

market and contemporary payment systems. We are working on a

truly unique and futuristic way of payment which will enable one to

pay for various goods with one’s custom credentials or biometric

signature. Crypto-payments are the future and combined with our

simple yet technologically advanced app, the future will arrive

much sooner than previously thought. We as a team of truly

dedicated people, are looking forward to make Fingerwallet, and

all interactions with the community in the process, a functioning

reality.

12 REFERENCES

1. https://news.bitcoin.com/bitcoin-accepted-260000-stores-summer/

2. https://dollardestruction.com/2018/03/28/6000-south-korean-outlets-to-

make-cryptocurrencies-available-by-q2-2018/

3. Wu, Chong. „Fingerprint start the next generation of payment method: Fin-

gerprint payment: a new mode of mobile payment.“ (2016).

4. https://www.visaeurope.com/newsroom/news/european-consumers-rea-

dy-for-biometrics

5. https://www.statista.com/chart/11122/the-future-of-mobile-biometrics/

6. Hileman, Garrick, and Michel Rauchs. „Global cryptocurrency benchmarking

study.“ Cambridge Centre for Alternative Finance (2017)

7. https://www.ccn.com/bitcoin-continues-to-gain-use-for-retail-purchases/

8. Kim, Tai Hoon. „A study of digital currency cryptography for business mar-

keting and finance security.“ Asia-pacific Journal of Multimedia Services

Convergent with Art, Humanities, and Sociology 6.1 (2016): 365-376.

Mobile phone mockup designed by Qeaql-studio / Freepik (http://www.

freepik.com)

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