ONFO for INVESTORSONFO Business Plan and Whitepaper Page 6 of 17 using an independent and...

A Business Plan

2019

ONFO for INVESTORS A Business Plan

J.R. Forsyth and Richard A. Forsyth

ONFO Business Plan and Whitepaper Page 1 of 17

Contents

ONFO Summary 2

A Cryptocurrency Primer 2

The Potential of Cryptocurrency 3

The Problem with Cryptocurrency 3

The Solution: ONFO 4

Network Mining 4

Easy to Use Application and Transparency 5

The Mobile Application 6

Coin Splits and Bonus Splits 7

Initial Outlay of Tokens 9

ONFO Today 9

ONFO Worldwide Saturation 10

Cryptocurrency Market Analysis 11

Funding Requirements 12

Financial Projections 13

Coin Ownership 13

Company Ownership 14

Further Details and New Features to Come 14

Organization and Management 15

Management 15


ONFO Summary

ONFO is an Application-Driven, Stellar Consensus Protocol Fork with Distribution via a

Fractal Growth Model and Price Stabilization through Symmetric Inflation. ONFO's primary

innovation is Network Mining: the generation and distribution of its cryptocurrency tokens

through account creation and referral rewards. ONFO could also be considered a form of

"stable coin" that seeks to regulate its relative trade value through network performance-based

injections of supply to optimize the suitability of its tokens for everyday commercial use. This

business plan explains ONFO's operational structure, intentions, and requirements.

A Cryptocurrency Primer

The age of digital money has arrived and is here to stay. Many compare this time and the

amount of change we can expect from it to the industrial revolution and the arrival of the

internet, and the wealth-transfer opportunities are proportionate. It all started with Bitcoin and

blockchain, which gave rise to cryptocurrency (or “crypto”), alternatives (or “alt-coins”) like

Litecoin and Ethereum, online wallet services and exchanges, and the “decentralization” of just

about everything digital.

These previously unfamiliar words have now become hot phrases in the financial industry,

but many in America still don’t understand them. While 80% of Americans have heard of Bitcoin

and claim to basically know what it isi, only 40% know much about it and many are confused;

and only an estimated 8% of the US population hold some form of cryptoii. The technology

seems to be more well-known in places like China, Japan, and South Korea, where trading and

mining dominateiii, but only a relatively small minority of potential investors are involved.

Perhaps even more telling is that most crypto-owners hold only Bitcoin; and of those, a

fraction of accounts control a large portion of the total supply of tokens.iv Bitcoin was designed

to spread far and wide, but it’s being hoarded, and most would even say controlled by elites.

These whales, as they are often called, have more power than was intended to manipulate the

market and coordinate small players out of meaningful participationv. And alt-coins are not

faring much better.

A now widely-published 2018 survey by Finder.com has revealed that many investors still

consider crypto to be too complicated or high-riskii, and only 8% of respondents plan to buy in

future. People who are getting involved are self-starting market leaders who do their own

research, are not particularly afraid of risk, and are comfortable with the technical details. The

spread of cryptocurrency has not yet met its potential or the world’s need to promote

transparency and decrease waste. It largely remains a hobby for nerds and the wealthy. Bitcoin

in particular is complicated to buy, keep, and use. It’s not as fast or as cheap as it needs to be


for mass adoption, and it’s being hoarded and controlled by a small number of elites. And while

many early investors did well with Bitcoin and its alternatives, prices have been volatile, causing

many merchants to avoid adoption for everyday commerce.

Cryptocurrency is too expensive, too risky, and too complicated for the masses. We’re still

waiting for the big one, the "killer application" of digital money.

The Potential of Cryptocurrency

Cryptocurrency is highly valuable as a service and as a digital product because it solves a

wide range of problems regarding inefficiency, corruption, and waste. It's an alternative

approach to finance with enormous potential global appeal that seeks to decentralize monetary

policy and many aspects of financial products and services. Decentralized digital ledgers bring

certainty to transaction verification and can be made to be transparent for actors who are

accountable to public trust, where transaction risk calls for greater clarity, or in support of

efforts to stop bad actors. Monetary policy can be hard coded in to the functionality of a self-

executing cryptographic system, preserving itself from the whims of the political cycle, human

error, and malicious intrusion, all the while remaining adaptable where a critical mass of

stakeholder consensus exists.

Real decentralized blockchain ledgers cannot be falsified or hacked, and platforms built for

means-of-payment feature transactions that clear in a few seconds. These transactions are also

cheap, potentially less than $0.01 per batch. Cryptocurrencies are also transnational, and so

they potentially eliminate exchange costs, and they mitigate or bypass most financial rules and

restrictions, including citizenship tests.

The Problem with Cryptocurrency

With such apparent value, why is it so hard to sell the idea of crypto? The answers are

technical and financial barriers to entry: the market is dominated by tech savvy people and the

wealthy individuals they assist. Crypto wallet services and exchanges have made some

impressive websites and apps, and they’ve convinced some people to create accounts and even

buy, but not nearly enough. The average person tends to be intimidated by concepts like

private key and public address, proof-of-work, and mining—they become insecure about how to

manage and secure their digital assets. And where it has the potential to do the most good,

many lack accesses to funds, education, internet, and the appropriate hardware.

Furthermore, most merchants avoid direct contact with crypto because of price volatility,

transaction fees, and tax difficulties. They don’t want to sell a cup of coffee for .00094 BTC

today, only to find that the value has halved two days later and tripled three days after that.


Even if they end up with a profit, the accounting can be discouraging. Alternatively, instantly

selling their incoming crypto for more traditional currency carries certain (and sometimes

uncertain) costs and is too complicated for most. Only large institutions can bare the

investment risks of such a practice, and too few are willing.

Also, slow and niche adoption, the spread of junk-cryptos (through countless and dubious

ICOs vi), click-bait advertising, and misinformation by media and government maintain the

image that cryptocurrency is not legitimate.

And while many may be willing to embrace the idea that value in money comes down to

consensus, the value proposition of cryptocurrency is too murky for the real masses, especially

for those who need it most.

Right now, cryptocurrency is niche hobby and financial shelter enjoyed only by the

intellectual and financial elite. We at ONFO want to take it mainstream.

The Solution: ONFO

For a cryptocurrency to succeed on a large scale, it must achieve deep and widespread

participation fast. Only truly viral systems can create the bandwagon effect needed to outpace

mainstream resistance and government quagmires. To go viral, it must appeal to both

merchants and the masses. To do this, it should:

(1) require no direct purchase for early adopters,

(2) be extremely easy to use,

(3) only require internet access or a smart phonevii ,

(4) maintain a stable price,

(5) and generously incentivize the one critical attribute that determines value in

cryptocurrency: network strength.

ONFO is designed to fulfill all the above.

Network Mining

ONFO is distributed free to the public through a web and smartphone-based application and

something we call Network Mining.

With Network Mining, the only way to earn or generate ONFO is by creating an account and

then inviting others to do the same.


Users are prompted to create a unique invite code upon joining that they can share with

others. Signing up earns them ten ONFO tokens, and each successful invite with a referral code

from within their country earns them another ten ONFO tokens, while each foreign invite that

results in a new account earns them fifteen ONFO tokens. Users also get a reward when their

invites bring in new people for up to three generations. So, if a user invites a friend and she

invites another person, both get a reward for sharing.

This method of distribution is key because most rules and regulations involve the exchange

of government-issued currency for crypto. This can slow things down quite a bit because it's

expensive, it takes a lot of time, the rules of the game often change, and there are many legal

systems to comply with around the world.

The sale of crypto for cash also increases the need for an aggressive and costly sales pitch,

to which people have natural resistance. The internet is full of high-profile cryptocurrency

advertisements with incredible claims. Many people are desensitized, and the average person is

still skeptical about trading traditional money for crypto. It’s much easier to convince someone

to create and earn ONFO by creating an account and referring others. It practically sells itself.

But most importantly, crypto cannot spread to so many people if they can’t afford it, and

we want as many people to be included as possible. All they will need is internet access or a

smart phone. But they must be invited to use the platform by a current member—new users

will not be allowed to join unless they enter a referral phrase provided to them by a current

user. As the network grows, the system tracks these recruitment relationships and publishes

them to the user, showing an individual user how many people have signed up due to their

personal efforts. Everyone will be able to follow over time the number of accounts added to the

platform from their efforts. The larger the network effect of an individual, the larger their daily

compensation potential will be in ONFO.

Easy to Use Application and Transparency

Our app is very simple in its design, and it needs to be because people will change their

minds fast if creating an account takes too many steps, and they don’t want to mess with

lengthy private keys and addresses. Users send invites and interact with people and businesses

through social media contacts, or by adding friends and acquaintances with email addresses or

cell phone numbers.

In fact, we only permit account creation and login with a proven social media account (e.g.

Facebook or LinkedIn) for early adopters, which makes sign-up fast and simple. Social media

accounts form the basis of our onboarding process because of their robust security

underpinnings and ability to verify individuality. All account holders also have the option of


using an independent and open-sourced wallet but are excluded from reward participation

unless they have enfranchised with the centralized application.

It is important that people create ONFO accounts using real identities so we all know who

we are dealing with when we interact. Both Facebook and LinkedIn require this and work to

preserve the integrity of their user bases' identities. This helps create a network which tends to

follow channels of real-world commerce and open identity. Though it's simple to create an

account with a dubious name on both sites, social media platforms have policies that reserve

the right to permanently delete them, and this creates an important barrier to entry and a

disincentive for bad actors. Both organizations have robust AI systems in place to remove these

accounts on a routine basis. Consequently, the ONFO user population can be more certain they

are dealing with the people they think they are when it comes to transactional settlement.

Governments and merchants appreciate this kind of clarity, but it doesn’t give them automatic

access to your specific account information or control of funds, so everyone is better off.

The Mobile Application

It is projected that there will be about 3 billion smart phone users around the world by

2020viii. According to The Pew Research Center, 77% of all Americans in 2018 have a

smartphone device, and that’s up from 35% in 2011ix. The number is closer to 90% for people

under the age of 50—both figures well above personal computer usex. Smart phone numbers

have skyrocketed across the globe since 2013 as well, with much of Asia, Europe, Australia, and

South America matching or exceeding the US in percentage of users. And while other areas lag,

there is still significant access in even developing countries, and smartphones are much more

accessible around the world than traditional computers.

It makes sense for a cryptocurrency to be application-based because it means more people

can gain access. We would call attention to third-world nations where smart phones are

sometimes more commonly used than indoor plumbing. With access to free apps, a widely

distributed cryptocurrency such as this could become extremely popular, perhaps even as

popular as the larger social networks. ONFO naturally rewards the early adopters more

robustly, but as the system grows, large numbers of individuals could gain significant value

simply by leveraging the power of their social connections and networks.

The best way to increase transparency of cryptocurrency is to base it on web and

smartphone applications. An owner of a cell phone is uniquely verifiable to a significant degree,

and that information, as well as other associated metadata, is easily reportable to authorities

when circumstances require (i.e. criminal investigations). It also provides a significant level of

security for the individual to claim an asset. It's difficult to spoof ownership of a cell phone

contract and most of them are registered to a person or entity with legal status.


ONFO is currently deployed as a "web app", with dedicated mobile applications ready to

deploy. We launched the platform on the web first so more people world-wide would have

access. Only a web browser and internet access is required. It is currently operational and as

you read, people all over the world are signing up.

Coin Splits

Coin Splits and Bonus Splits

Limited supply is a key feature of both Bitcoin and most altcoins. For example, Bitcoin will

only ever have a maximum of 21 million units in circulation—once they are all released.

Without some mechanism to stop inflationary practices like this, any system of money is

potentially subject to abuse. Deploying supply limitations into the back-end coding of open-

sourced cryptocurrency is great for investors because it creates the presumption that trade

value will continue to go up over time. And many people see cryptocurrency as an alternative

to the stock market, but with fewer rules.


This does not help Bitcoin and other cryptos to achieve mass adoption, however. While

Bitcoin has performed very well as an investment since 2009, it has seen significant volatility, or

rapid change in value over short periods of time. This causes most investors to hoard their

crypto, which decreases the degree to which people use it in commerce as an alternative to

traditional money. It also intimidates potential investors and many of them ultimately feel like

they missed the opportunity. Further, merchants generally don’t like the unpredictability of

cryptocurrency values. It makes profitability on sales and correct pricing less certain, so many

won’t accept it directly.

ONFO solves this problem by regulating the value of one coin to be below the value of one

US dollarxi. This is done through the increase of ONFO supply through "coin splitting" (think

stock split) at any point that its trade value exceeds one USD. This effect is generally achieved in

one of two ways:

1) A coin split which would increase the total supply of tokens in existence. All coins would be

multiplied at a fixed ratio, analogous to a stock split. (e.g. 200 billion total tokens become 400

billion post-split in a 2:1 inflationary event.) All accounts would be automatically credited their

respective proportional increase in tokens.

2) A bonus split could also occur where tokens from the general supply are awarded to the

population in a similar manner, with pre-qualifications for participation. This would have the

effect of increasing the existing user accounts' relative ownership of the entire possible pool of

tokens which is extremely favorable to early adopters.

As time goes on, the number of ONFO will always be proportional to the size of the

network, causing a stabilizing effect to the value of the currency. So, if you happen to hold 1%

of all ONFO supply and an inflation event is triggered, you will receive enough additional units

to maintain your percentage. This way, anyone who uses the system can think of their ONFO

holdings much like their bank account, except that their ONFO holdings will increase as more

people use it—another way to benefit from inviting lots of users.

Rather than promoting the rising speculative value of each ONFO, we supply more units via

splits as market demand requires. Tracking the US dollar and keeping ONFO in step with fiat

value helps people to think of it more as currency than an investment, and this will promote

frequent use in commerce and demand for acceptance by businesses. For merchants, stable

pricing and predictable profit becomes much easier, so they’re more likely to accept it for

goods and services.

It is projected that the mechanism of adjustment and approximation of the US dollar will be

a short-term solution that will eventually give way to a limited supply in proportion to total use.

In other words, splits will likely only occur in the early years of the token. The need for this kind

of adjustment will reduce in time.


Initial Outlay of Tokens

The total initial supply of ONFO available for deployment over time is 200 billion tokens.

Only a fraction of these tokens should be considered to be in the "circulating supply."

ONFO has "pre-mined" all tokens and secured them into multi-signature accounts for

deployment to the users as they recruit others. Reward mechanisms have been instituted to

spur growth as stated. Some of the referral reward processes are subject to change based on

the needs of the network or to adjust for ongoing growth. These amount to 80% of all tokens in

existence which at the time of writing is 160 billion ONFO.

The core development team has also placed in multi-signature protection some 40 billion or

20% of tokens to be used for ongoing administrative support costs over time, similar to other

cryptocurrency programs. This would include an organizational allotment of 12% (24 billion)

and founders' allotment of 8% (16 billion). History has shown us that the health of the

organizations that support a particular token must have adequate resources to fund ongoing

operations. This is very routine practice. These tokens may be used to forge strategic

partnerships over time to leverage the success of the program. The tokens sitting in multi-

signature designations should not be considered for inclusion in calculating circulating supply. If

at any time these tokens are transferred to the general circulation in any way, the organization

would make this well known beforehand.

The founders and builders of the program, which are numerous, will hold an initial stake

comprising 8% of tokens. These tokens should also not be considered in calculating the

circulating supply and would be reported to the public at any time they were to be mobilized.

Once reported, they should be counted in the circulating supply. Organizationally, the founders

are bound to specific rules as far as utilization of any of these reserved tokens and are not free

to deploy them into the market without consent of the organization. Stability of price and

supply trust is of paramount concern to the developmental organization and will always

continue to be.

ONFO Today

The main problem with Bitcoin is that ordinary people find it hard to use. In addition,

interchange fees are high and wait times for transaction confirmations can last hours. Our

program is vastly simplified in comparison, it eliminates the cumbersome fees, and transactions

clear within 2 seconds.

ONFO was built on a fork of the Stellar Consensus Protocol (SCP), which is a widely respected

cryptocurrency platform. Our primary innovation is a concept we call "Network Mining," or

generation and distribution of cryptocurrency tokens through account creation and referral


rewards. ONFO is also a form of "stable coin," engineered to self-stabilize its relative trade

value through performance-based injections of supply to optimize the suitability of its tokens

for everyday commercial use.

Our platform was engineered to take the world by viral storm. Penetration of any

cryptocurrency into the general population will closely dictate the market value of the

underlying token. Most cryptocurrencies have been difficult for the population to use

effectively. We created a platform that has a "game-like" quality and distribution based on

referral rewards. The ONFO application has excellent female engagement and approximately a

third of users come back and log in on any given day. We have shown that most users signing

up for the program have never used cryptocurrency before. This kind of market penetration is

vital if we want to see math-based currencies used in everyday commerce.

ONFO Worldwide Saturation

Dark blue > light blue

Light grey = No penetration


Cryptocurrency Market Analysis

The top 10 cryptocurrencies in the world by market cap:

Source: Coinmarketcap.com

These are multi-billion-dollar systems. The tendency for increasing value can generally be

described using a mathematic principle known as Metcalfe's Law. The law states that the value

of any transactional network is proportional to n2 where n is the number of active users. Thus,

as the user base grows, the token value increases proportionally to n2 over time. Market

capitalizations grow as the popularity of a particular coin increases. Since almost all people

involved in cryptocurrency also use Bitcoin, we can extrapolate that no more than

approximately 50 million people use math-based currency of any kind. Note that this is world-

wide.

These constituent tokens are ONFO's primary competition. Certainly, cryptocurrency itself is

competing against many other forms of transactional settlement, namely the banking system,

card associations such as VISA and Mastercard, and money transmission services. We are now


seeing implementation of cryptocurrency settlement in merchant acquisition systems such as

Square, Stripe, BitPay, and Coinbase. ONFO has the potential to be integrated immediately into

millions of point of sale terminals which are already primed for crypto. All we need is to

generate a user base large enough to justify integration with merchant systems.

Since the market value of any transactional system grows as the user base grows, if a

system created a way to enfranchise millions upon millions of users in a relatively short period

of time, the system could dominate the market for many years to come. Since all

cryptocurrency tends to be open-source and public, other systems are likely to copy strategies

for growth so lead time is essential in harvesting market share. ONFO was designed to spread

rapidly, thereby generating a user base larger than bitcoin in less than a year.

Funding Requirements

See the attached spreadsheet detailing financial projections and requirements.

The paramount challenge to operating a system such as this is scaling. Very few programs

grow like this. Doubling the user base every few days presents enormous challenges. User

support requirements grow exponentially as well. Security mechanisms and surveillance are

also difficult to scale rapidly.

We have a team of 6 engineers and about 6 support staff right now. We need to expand

our engineering team to include a security specialist, 4 more app engineers, and a front-end

developer. We also need dev ops support staff as well.

We need funds for formal legal counsel and HR management.

We need to hire a Chief Operating Officer for the company as soon as possible.

ONFO requires a comprehensive security audit, and this operates as a necessary constraint

to full smartphone app release. This process will primarily involve penetration testing, which

entails the enlistment of white hat hackers using cutting edge tools and techniques to find all

possible attack vectors and vulnerabilities. These penetration experts will be paid through a

bounty system that awards the discovery of security issues. They will test key/seed generation,

wallet creation, token generation and distribution, key usage and storage, recovery policies and

procedures, and data sanitization. All this is done through a reputable third party who conducts

initial reconnaissance and scanning, proceeded by the coordination of crowdsourced

penetration testing and analysis, followed by a comprehensive risk assessment and report with

recommendations for repair and upgrades. The testing process itself is expensive and the

remediation stage bares costs which depend upon how many vulnerabilities are found. We

estimate this audit will cost $500,000 USD and will take about a month to complete.


The largest expense incurred in running the program is verifying cell phones. We work with

a third party to provide this service and the costs are variable depending on where we are most

rapidly growing. These are usually international fees paid, so the cost of customer acquisition

varies from $0.01 to $0.08 USD per verification. The average cost tends to be $0.06 US per sign

up due to most being foreign. If the cost of infrastructure is combined with onboarding costs,

we are currently paying about $0.09 USD per customer acquired.

So for every 100K users we add, we believe we need a minimum of $10,000 USD available.

The costs are constantly moving as we grow and there savings to be had in scaling.

These costs will rapidly increase as we scale up, particularly with Twilio expenses and

support staff expense. Every time our user-base doubles, these figures will double.

If we allow the system to grow at full strength, we will have millions of users in a matter of 3

months. We project we will need 3.5 million USD in order to keep up with growth over the next

3 months, and approximately 50 million USD to handle growth over the next year.

Financial Projections

Cryptocurrency is very profitable. There are two main mechanisms to generate wealth and

return on investment with ONFO. These are consistent with other successful cryptocurrency

systems in existence. These main mechanisms are coin ownership and company ownership.

They can be broken down as follows:

Coin Ownership

There are currently 200 billion ONFO tokens in existence.

80% of all tokens are held in reserve to award users for referrals. These total 160 billion

tokens. These are held in multi-signature accounts.

20% of the tokens are allocated for the company and its founding. They are also held in

multi-signature accounts and total 40 billion coins.

12% or 24 billion coins are allocated for company expenses.

The 4 founders of the company have been awarded 4 billion tokens each for a total of 16

billion tokens (2% each).

We have contractually agreed to give up to 4 billion tokens to our attorney in return for

arranging VC funding up to $50 million USD.


Any partnering capital organization should be awarded tokens for investment. We have

proposed that approximately 50% of the remaining 24 billion tokens be allocated proportional

to the total amount of funding required.

If ONFO accumulates millions of users world-wide, particularly in a short period of time, the

value of these tokens should increase quickly. Very few cryptocurrencies boast millions of

users. It has been estimated that there are only 25 cryptocurrencies that have user bases

greater than 100K.

Speculation on systems like this, particularly when they are a world-wide sensation, could

create opportunities for institutional sale of these tokens within a matter of months. Exiting the

investment through coins is likely the most rapid source for profit we can offer. The advantage

of cryptocurrency is that we do not have to wait for an IPO to produce liquidity. We will be

listed on exchanges very soon and the tokens will have verifiable market value almost

immediately.

Company Ownership

ONFO, LLC is currently owned entirely by J.R. Forsyth. There are no liens on the company

and we have no debt. The organization is completely open to restructuring if needed.

As we gain market share in the industry, we will immediately have opportunities for third

party partnerships and data collection. The company will have the opportunity to follow the

habits of all users on the app platform. We will start to accumulate spending data as the tokens

begins to be used in merchant commerce. We will also have the opportunity to purchase

tokens from users within the app and sell them for a profit on exchanges in an automated way.

A system with 10-100 million users is very valuable from an advertising standpoint. We

believe this system could grow into the 100s of millions of users range. It is not unreasonable to

believe we could eclipse bitcoin in market capitalization, which is currently around $90 billion

USD.

Further Details and New Features to Come

ONFO envisions the platform maturing over time and adding features such as

interconnectivity with other payment platforms. At first, it will be completely free of such

things by design. There will be no initial mechanism for purchasing these tokens with fiat such

as an ICO. Token purchasing will eventually be facilitated by third-party cryptocurrency

exchanges. We suspect ONFO tokens will eventually be accepted by major merchants and


retailers as well. The system could facilitate currency transfer denominated in any local

currency as a convenience based on the nationality of the user.

ONFO will have all the normal attributes of a decentralized asset and will be tradable even

outside the app environment. It will be traded on crypto exchanges throughout the world and

will be operated by consensus.

Core development will maintain authority over changes submitted to the centralized

application. This will give ONFO greater ability to adapt and submit needed upgrades to the

system over time. However, we believe that decentralization is paramount, and is vital to

stimulate value and trust in a crypto-asset. We will ultimately implement a system of voting by

individual users when any major changes to the system are proposed as the ecosystem

matures.

Organization and Management

ONFO, LLC is a Delaware company. The company has no debt and has been financed to this

point by seed funds from the founder comprising about $600,000 USD.

Management

J.R. Forsyth, Chief Executive Officer and Founder

J.R. is a longtime cryptocurrency advocate and blockchain developer. His background is in mathematics and cryptographic systems. J.R. has participated in the development of virtual currency systems dating back to 2009. He has also been credentialed in AML-KYC auditing and has firm understanding of regulatory policy. He has leadership experience in leading two prior software engineering efforts in credit card processing and a cryptocurrency exchange. J.R. is also a licensed physician.

Michael Thomas, Chief Operations Officer

Michael has had his own consulting company for over 20 years working with companies in all aspects of organizational development, many Fortune 500. He has considerable experience in securing financing for large projects. He has worked with various organizations in professional/personnel development, recruiting, enhancing high performing culture skills. In one setting oversaw all operational aspects of the day to day business, developed marketing, sales structures, located, performed due diligence and contract negotiations with all vendors/contractors/fulfillment alliances, etc., discovered complete software solutions for all aspects of business from sales to accounting, directed and interfaced with all customer service “issues”/merchant processing defense/banking/attorneys.


Richard A. Forsyth, JD/MBA, Chief Financial Officer and Co-Founder

Richard A. Forsyth holds a law degree from Saint Louis University and an MBA from Missouri State University. He also graduated from Florida International University with a degree in anti-money laundering and financial regulatory compliance. Richard has been working in the payments industry since 2007 and has extensive experience in the credit and debit card industry. Richard is also one of the first experts in cryptocurrency regulation and spent several years touring as a guest lecturer for FIBA (Florida International Bankers Association) and as a consultant and lecturer for CSMB International, Inc (Consulting Services for Management and Banking). J.R. and Richard are brothers.

Drew Patel, Chief of Engineering, Co-Founder

Drew is currently studying computer science at The University of Missouri - Columbia. He

has been developing software since the age of 8. He has engineered multiple blockchain

systems including blockchain and is currently the engineering lead of ONFO. He has also

participated in development of blockchain identity programs and is a serial hackathon

champion.

Luke Killinger, MSCIS, Chief Technical Officer, Co-Founder

Luke is a seasoned software architect. He has extensive experience engineering and

maintaining banking software systems. He has been involved in several prior system launches

and has developed innovations in virtual currency. He holds a Master of Science degree in

Computer Information Systems.

i https://www.bloomberg.com/news/articles/2013-12-12/most-americans-don-t-know-Bitcoin-while-some-guess-xbox; https://gizmodo.com/survey-most-americans-remain-blissfully-unaware-of-the-1820027828 ii https://www.finder.com/why-people-arent-buying-cryptocurrency; https://www.fool.com/investing/2018/03/21/heres-why-more-americans-wont-buy-cryptocurrencies.aspx; https://www.cnbc.com/2018/03/16/why-just-8-percent-of-americans-are-invested-in-cryptocurrencies-.html iii https://Bitcoinexchangeguide.com/japan-korea-china-asia-cryptocurrency-mania/ iv http://www.businessinsider.com/40-percent-of-Bitcoins-are-held-by-just-1000-people-2017-12 v https://www.bloomberg.com/news/articles/2017-12-08/the-Bitcoin-whales-1-000-people-who-own-40-percent-of-the-market vi ICO stands for Initial Cryptocurrency Offerings: sales of new crypto to the public before launch. In this sense, new cryptocurrency systems that are not serious or are misleading and designed to take advantage of market hysteria and make the founders rich at the expense of low-information investors. vii ONFO can be run from just about any computing device that can access the web and run a web browser. viii https://www.statista.com/statistics/330695/number-of-smartphone-users-worldwide/ ix http://www.pewinternet.org/fact-sheet/mobile/ x i.e., Laptop or desktop computers xi

ONFO for INVESTORSONFO Business Plan and Whitepaper Page 6 of 17 using an independent and...

Documents

Transcript of ONFO for INVESTORSONFO Business Plan and Whitepaper Page 6 of 17 using an independent and...