Smartshare Whitepaper

Saturday, June 23, 2018
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Smartshare Protocol Whitepaper Generating Value Through a Decentralized Sharing Economy V2.4 DEC 2017 1

Table of Contents Table of Contents 2 Summary 4 1. Origin of Smartshare 5 1.1 Why build Smartshare 5 1.2 Social value of Smartshare 6 2. Blockchain Technology and Sharing Economy 7 2.1 The Current State of the Sharing Economy 7 2.2 The Value of A Sharing Economy 8 2.3 How Blockchain enhances the value of Sharing Economy 10 3. Smartshare Achieves IoT value sharing 11 3.1 Development And Current Status of The Internet of Things 11 3.2 Blockchain Technology in IoT 12 3.3 Smartagent Ecosystem 13 3.4 How Smartshare accelerates adoption of IoT sharing 15 4. Smartshare Operating Mechanism 16 4.1 What is Smartshare 16 4.2 Problems to be solved by Smartshare 16 4.3 The Goal of Smartshare 17 5. Smartshare Technical Background and Program 18 5.1. Smartshare Protocol 18 5.2. ShareAgent’s Smart Chip 19 5.2.1 Node Authentication 20 5.2.2 Node Asset Management 20 5.2.3 Service Description 21 5.2.4 Matching Transactions 21 5.2.5 Service Measurement and Distribution Control 21 5.2.6 Billing Settlement 21 2

5.2.7 Example Description 21 5.3. ShareAgent Technical Architecture 23 6. Smartshare Application Scenarios 25 6.1 Bandwidth Sharing Application 25 6.2 Computational Power Sharing 25 6.3 Storage Sharing 26 6.4 Smart Weather Monitoring Terminal 27 6.5 Other Scenarios 28 7. Mining Mechanism 29 7.1 How to mine 29 7.2 Equipments compatible for mining 29 8. Smartshare Road Map 30 9. Smartshare Foundation 31 9.1 Smartshare Foundation 31 9.2 Smartshare Team 31 10. Smartshare Private Sales 34 11. Contact Us 36 3

Summary Smartshare Protocol is a distributed network protocol that uses blockchain technology and smart contracts to evaluate and quantify the substantive value of all sharable objects, which can realize the exchange of sharing value. The birth of Smartshare as a value sharing protocol will greatly promote the growth of popular industries such as the Internet of things (IoT) and the sharing economy. One reason is the combination of intelligent IoT devices and blockchain technology will accelerate technical change of smart IoT application. The other is through the integration of idle products and service resource, sharing economy makes users get products and services. Our country encourages the development of sharing economy. However, many sharing models are centralized leasing models, existing some gaps with ideal decentralized sharing of idle products. Smartshare uses the blockchain technology to achieve the decentralization sharing of individual value, making the real shared entity become the network node. Smartshare will utilize blockchain to inject new energy into sharing economy, and all sharable products can obtain value return. Smartshare provides an open ssp-based smartshare protocol to apply in sharing economy. We are committed to make use of the sharing value of stipulated contract terminal to realize the value output of current smart terminal through sharing mechanism. 4

1. Origin of Smartshare 1.1 Why build Smartshare It needs to look at the roles of protocol in blockchain. Compare the model of Internet and blockchain, we can see that the sharing agreement of Internet such as TCP/IP, HTTP, SMTP, most of which are gained and rearranged in data form at the application layer. However, in terms of ROI, the return of the investment in protocol is far below than that of the application, and the return of TCP/IP is much less than that of Google, Facebook and Wechat. As for blockchain, the protocols and application performance are in contrast to Internet, for example, the assessed value of BTC and ETH is much higher than that of application, which mainly lies in that the Internet is developed from the decentralization to centralization, but the evolvement of blockchain is opposite with it. As most applications already existed in the development of blockchain, we not only need to utilize the protocol of blockchain to upgrade the existed applications, but also need to copy and store user’s data through the open-source and decentralization Internet, and lower the threshold of new participants, build an ecosystem to make the products and services related to the protocols more active and competitive. Despite the limited use cases, the utilization of blockchain technology in applications that focused on the sharing economy was already available before the birth of Smartshare. However, during the implementation process, these applications can only be applied in one industry, resulting in the well low promotion rate of protocol, therefore it is a centralized application in essence. Smarshare is to use open and decentralized 5

network protocol to lower the threshold to join in the sharing economy, creating a sharing ecosystem across the category and region. 1.2 Social value of Smartshare While resources are ubiquitous, the best use of them is not only an esteem foe us, but a crucial method to protect ourselves and the earth. At this present moment where resources are abundant, billions of terminal devices, including those under the cover of sharing platform, are not utilized optimally. Smartshare’s ideology is to promote cooperative sharing, where all terminals will be part of the sharing economy for both sharer and receiver to exchange value and benefit from it. The goal of Smartshare is to build a sharing community that is not only convenient for people, but can solve the problem of resource waste resulted by information asymmetry,. Smartshare uses technology to bring us into a virtuous circle of full utilization of resource. SmartShare sharing protocol uses the decentralized nature of blockchain to realize value sharing across society. By virtue of the protocol everyone can enjoy the convenience and benefit from sharing resources, than social overhead capital will be reduced. 6

2. Blockchain Technology and it’s Shared Economy 2.1 The Current State of the Sharing Economy Smart living and smart manufacturing are the two main growth-driver of smart hardware industry. As technology, related infrastructure and application service get better over time, smart hardware now includes not only smartphones, but wearables, furnitures, in-car entertainment system, medical appliances, smart autonomous system and so on. The adoption of smart hardware in industrial, medical, automotive and agricultural industries has been accelerated due to the recent development of IoT, “Internet+”, Artificial intelligence, Machine Learning, etc. The development of a sharing economy has created a new business model that maximizes the resources utilization and greatly facilitates people's daily lives. The primary benefits of sharing economy are reflected in the better allocation and circulation of resources, reducing wastage and benefiting all stakeholders in a sharing economy. Almost everything has shared value, but due to the shared value can’t be estimated and doesn’t have payment advantage, only a few commodities own it. In 2016, the size of sharing economy in China reached 39.45 trillion yuan, which is a increase of 76% on a year-on-year basis. It is estimated that the size of the sharing economy will exceed 10 trillion by 2020. 7

2.2 Sharing Economy’s Value Sharing economy is broadly to assemble all distributed resources together, share value in a centralized way, use the distributed network to trade and exchange the resources that are not fully utilized, including assorted profit-driven and non profit-driven goods and services. Due to the vicious competition brought by the profit centralization in the current sharing economy, the waste of resources induced by the gimmicks of sharing economy model can be seen everywhere. It is not only the bottleneck of current shared economy, but the driving force of the revolution of blockchain. 8

Compared with traditional sharing economy, the application of sharing resources can be characterized by two rights, two centralization and three roles. The two rights are the ownership and the right to use; the two models of centralization are decentralization and re-centralization; and the three roles it plays are the sharer, receiver and the sharing platform itself. In the sharing economy, the provider provides an idle resource that’s demanded by the receiver. Sharing means the right to use is shifted temporarily without any change to the right to ownership. Decentralization of the sharing economy allows the resource provider to break the tradition by approaching the receiver directly without any middleman. However, when large amount of decentralized sharing happens, a re-centralized platform will be required to form a sizable regulated market. All three parties (sharer, receiver, and sharing platform) are essential for sharing economy to work. The relationship between sharer and receiver can be, one-to-one, many-to-one or many-to-many. Given that both the early models of centralized and re-centralized sharing economy continues to exhibit bottleneck characteristics in form of destructive competition; and that the sharing economy remains incapable of pricing values, the team believes that the sharing economy should be based on a decentralised model to solve both issues. The sharing of WiFi can be a good use case for the adoption of blockchain technology in the sharing economy as each sharing WiFi unit acts as a node that allows for the data transfer. Based on a mining algorithm, mining rewards can be programmed to automatically distributed by the blockchain to incentivise adopters to utilise the ecosystem. This indirectly solves the issue of pricing for a shareable value. We believe that such use cases will be revolutionary and will bring about positive effects to the society as a whole. 9

2.3 How Blockchain enhances the value of Sharing Economy Blockchain, is also known as the distributed ledger technology, an Internet database that is decentralized, open and transparent. It allows everyone on the blockchain to participate in record keeping. As the smart contracts mature, blockchain will naturally shift from the information recorder to the trading executor. One example is low-cost automated trading, which has greatly reduces the cost of value exchange. Combined with the unimaginable application scenarios developed by IoT, for example, the current sharing economy is only available on products with high value. Once the transaction cost is significantly reduced, all thing can be shred in anyway, anytime and anywhere. With the appropriate terminal, an ideal sharing economy will come true. Through blockchain technology, Smartshare Protocol will build a smart, credible, open, decentralized data exchange for a sharing economy based on the current architecture of sharing economy. Smartshare aims to subvert the existing centralized sharing platform with blockchain technology, and use Smartshare Token to realize value quantification and circulation. At the same time, as a underlying protocol of blockchain sharing economy, Smartshare will conduct In-depth coverage and application in related industry of business, applying blockchain technology in new business. 10

3. Smartshare Achieves IoT value sharing 3.1. Internet of Things Development and Current Situation With the popularization of IoT, the concept of interconnected networks is deeply rooted in our hearts. IoT utilizes information sense devices to achieve interaction among products. In short, all your devices are implanted in chips, making intelligent network interaction possible. Each IoT terminal can act as an independent business entity on the network and share their ability or resources with other terminals at low transaction cost. All IoT devices are able to report their status, which creates a good condition for us to utilize the idle resources. At the same time, IoT has also provided a transparent, fluid market for trading. In 2015, the global IoT market reached 62.4 billion U.S. dollars, an increase of 29% over the same period of previous year. By 2018, the global IoT device market is expected to reach 103.6 billion dollars, with a compound annual growth rate (CAGR) of 21% from 2013 to 2018. The amount of new IoT devices will grow from 1.691 billion units in 2015 to 3.054 billion units in 2019. 11

The rapid development of IoT has appeared a few prominent issues. Firstly, many IoT infrastructures are not utilized optimally and are left idle. Many IoT vendors and investors do not benefit from the IoT data and terminals. Secondly, the global IoT platform lacks a universal communication mechanism, which has made data collection and cross device connection difficult.For example, the industrial ecosystem of a traditional PC or mobile phone consists of the foundational processing chip, foundational software and core application. Smart hardware is based on smart technology and has its ecosystem processing chip, data, algorithm, development framework and application platform. The core factors are more intercoupled and complex. For example, differences in the hardware architecture and lack of common communication protocol and standard has resulted in difficulty of individual terminals communicating with each other. Present blockchain technology not only provides the right solution for recording data for all IoT cells, but also ensures that recorded data can’t be amended. Therefore, Smartshare is using blockchain to solve the shortcomings of communication compatibility and resource idleness to enhance the value of IoT. 3.2 Blockchain Technology Used in IoT While there are already a lot of IoT applications, current technology is inadequate to realize ideal usage of IoT in which everything is interconnected. The current IoT framework is mainly closed. Although devices in a closed system can interconnect with each other, and even the Internet can transfer data, there’s still difficulties for devices using different systems to undertake valuable communication. 12

On the other hand, we need to use other IoT equipment manufacturers’ terminals and networks for data transmission and storage. It is thus necessary to reach a multi-party agreement on the distribution of benefits. In other words, companies and individuals who provide basic IoT devices and web services will be able to obtain reliable revenue more easily , such as charging fees based on the amount of data stored and transmitted. Under the present technical conditions, a cooperation agreement must be reached if different IoT service providers are to share resources. Blockchain technology made point-to-point data transmission in IoT possible. A big and centralized datacenter is not required anymore for data synchronization, management and control. Operations such as data acquisition, instruction sending, and software update can all be transmitted over the blockchain network. 3.3 Eco-alliance Based on Smartagent Smartshare bridges the entire ecosystem through smart chips. Each Smartshare smart chip implanted in a smart terminal acts as an individual node. A Smartagent chip will be implanted in each IoT terminal, then the terminal will be registered on the blockchain and have a digital identity. On this very note, Smartshare will use the smart contract ledger to record all information of this digital identity. The digital identity can be used for identity authentication, but more important, as the basis for identification in blockchain-based IoT. Its goal is to achieve the direct communication and value delivery between objects. It will also acquire tokens automatically according to the shared value provided by devices during the sharing process. 13

Smartshare will work closely with IoT vendors to build an ecosystem with the aim of promoting terminal value. The following are the achievements acquired: • December 2017, we have entered a strategic partnership with Chainbox by China Binary Sale Technology Limited, which will be launched in January 2018. • January 2018, we have entered a strategic partnership with Mau Huan Health to bring Smart Health Products to the Smartshare ecosystem. • January 2018, we have entered a strategic partnership with the Yuan Zheng Data 14

Smartshare is committed in working with more IoT vendors. It is estimated that by end of 2018, the number of alliance manufacturers will reach 10 or more. 3.4 Smartshare Ability for IoT’s Rapid Growth By using Smartshare, IoT devices of different owners can transfer data through encrypted SSP protocol and calculate sharing value and acquire data through Smartagent. The fees for data transfer can be calculated by Smartagent too. SmartToken is the basic unit in Smartshare blockchain IoT network. It will be used for payment, and as a reward for value sharing. As long as IoT vendors provide blockchain technical support for devices, their devices would be able to share or exchange their value within the Smartshare network. Smartshare's vision is to create a sharing ecosystem with appropriate sharing mechanisms and reward schemes for the sharers in order to accelerate the growth of the sharing economy within the IoT ecosystem. 15

4. Smartshare Operating Mechanism 4.1 What is Smartshare Smartshare is a distributed network protocol that uses blockchain technology and digital identity to digitize assets. It uses smart contracts to transfer value to sharing entity, making all shareable objects realize the exchange of shared value. Through built-in encryption protocol and blockchain based Token rewarding mechanism, Smartshare makes billions of IoT terminals get shared value and form a massive decentralized sharing network based on the algorithm of value sharing. It will be possible to share different types of smart terminal value, such as computing resources, network bandwidth, network quota, storage, rights to use other devices and even time through Smartshare protocol. 4.2 Problems solved by Smartshare The irresistible decentralization age is only accelerated and made better by adoption of IoT. Billions of people and devices are connected by IoT in point-to-point manner, forming a massive sharing economy. IoT not only allows everyone to be both producer and consumer at the same time, making each activity become a form of cooperation, but connects all people into a global community. In this way, the prosperity of social capital is unprecedented, all above conditions make the sharing economy possible. In the rapid growth of a sharing economy, the main issues for more universal and in-depth improvement are as follows: 16

(1) The shared value of smart terminals is hidden due to the lack of universal value standard and marketability, resulting in a waste of large amount of resources. (2) Lack of universal protocol. There has been attempt to use blockchain to solve the pain point of current sharing economy, however the lack of protocol between chains has resulted in the shared value nonnegotiable. (3) The shared value mechanism lacks flexibility. As different participants have diverse requirements on the sharing mechanism, the existing mechanism cannot be promoted universally. 4.3 Smartshare's Goal Smartshare is a blockchain-based distributed database, utilizing the features of blockchain, such as decentralization, disintermediation, trustfree smart contract and timestamp to form the foundation of sharing economy by establishing a smart, trustable, open, decentralized protocol for value sharing. Smartshare is centered on the underlying shared general protocol, and is gradually connected with applications in sharing industry, such as shared trip, shared charge pal, shared digital products and homestay. At the same time, Smartshare uses IoT, AI and big data to achieve the optimal usage of efficient resources, building the top-ranking decentralized sharing ecosphere. 17

5. Smartshare Technical Background and Program 5.1. Smartshare Agreement Smartshare bridges the entire ecosystem through smart chips. Each Smartshare smart chip implanted in a smart device acts as an individual node. Through Smartshare, the nodes would be connected and be able to exchange and share value. Blockchain consensus is achieved through a very rigorous mechanism. Adding the next block in the blockchain requires multiple parties to compete and obtain block rewards or transaction fees. Bitcoin uses Proof of Work (POW) and Hash calculations for mining. Smartshare uses an original consensus mechanism, proof of share to ensure that mining is achieved through sharing. This sharing mechanism is based on multiple consensus mechanisms. 18

A good use case for Smartshare is to mine by sharing computing power. Research from Berkeley Open Infrastructure for Network Computing (BOINC) has shown the viability of using an open protocol to reward users who contributed computing power. BOINC is an open protocol for scientific grid computing that allows participants to contribute their own spare computational power to conduct a series of scientific calculations. Smartshare uses BOINC as a computing platform to help conduct a variety of scientific research, which includes finding identities of individuals, simulating DNA data, etc. Another example is mining through resources sharing(storage, bandwidth, etc.), where the smart chip will communicate directly with the smart terminal to monitor the shared resources, and issue appropriate amount of tokens 5.2. ShareAgent’s Smart Chip SmartShare bridges the entire ecosystem with ShareAgent. Each SmartShare node has only one ShareAgent (hereinafter referred to as SA) built on a dedicated smart chip. SA's core functions include: node authentication, node asset management, service metering, distribution control, service price assessment and service billing. SmartShare links these nodes through SA to achieve the sharing and exchange of value sharing. 19

5.2.1 Node Authentication SA certifies the legitimacy of each node. As an authenticated security unit of sharing network, SA has the basic legitimacy granted by the sharing network. At the same time, SA also undertakes the task to identify the legitimacy of electronic information devices and systems related to corresponding nodes. 5.2.2 Node Asset Management SA is responsible for not only playing an role of electronic wallet by receiving, paying and storing digital currency assets, but managing other assets owned by the nodes in the shared network. For example, data asset information that nodes store in shared storage, and shared service information that is currently provided to external parties. 20

5.2.3 Service Description SA represents shared service information of sharing network provided by nodes, including service types and service definitions. 5.2.4 Matching Transactions SA represents the node to provide the shared network with service price, including the supply and request price. Based on the price of both parties and fair rules, the transaction can be coordinated in the principle of benefiting our own. 5.2.5 Service Measurement and Distribution Control SA cooperates with the sharing network to accurately measure the service provided externally or received by nodes, record unsettled service metrical information, and coordinate the progress and procedures of the service provided or accepted by this node. For example, the process of storage sharing service includes the coordination of data sending and confirmation, and daily health inspection of data stored in this node. 5.2.6 Charge Settlement SA will manage payment and fund transfer based on pre-established smart contract for deposit, installment payment, and balance payment. 5.2.7 Example Description SA verifies the service capability of associated storage service node, and periodically checks for updates according to the preset rules. Provide 21

storage service to obtain digital currency, and pay digital currency when you receive storage service. The actual turnover is calculated by the standard of matching transactions. Data storage service is defined by volume of data, writing speed, reading speed, layers of redundancy, etc., (a clearly regular framework is required). The service demander and supplier will send out a request to the network with self-requirement and expected price. The transaction will be matched real-time by the network. It should be noted that each service unit is different from actual storage tasks seen by users. For example, a user can submit a 1GB data storage request through a node device and specifies a total bandwidth target and 4 redundant copies. After SA interacts with the shared network, it divides the 1GB data into several data packets, indicating the specifications and expected price for public tender. Based on the bidding rules submitted by users (prices fluctuation principle), SA constantly seeks the best quotation for the node owners with a profitable way. After matching a transaction for a data packet, SA pays deposit to the service provider (if required), obtains the information required by data transmission, and both parties (may be multiple parties) begin to transfer data. Each node device reports the status of data transmission to SA. After successful completion, the demander pays the balance, and if the service fails, deposit will be returned (if any). Make appropriate compensation according to the established rules to(if available and as the service provider's responsibility). Once the service is completed, and the transmission and storage of all data packets is finished one by one. To simplify the overall design of storage service architecture, shared storage can be built according to object storage. 22

5.3. ShareAgent Technical Architecture SA is built on a dedicated security chip. Its structure is as follows: Sound networking mechanism: If the node device has sufficient networking capabilities, SA can use the node device to connect to the shared network. For node devices that do not have networking capabilities, SA can also connect to the shared network through the built-in NB-IoT module. The SA is based on a dedicated security chip designed to provide better security, performance, power consumption, smaller form factor, and more conducive system integration. The hardware-level trusted computing system improves the trustworthiness level of the sharing network and provides a reliable basis for the development of the sharing network. SA is not only applicable to node devices that have networking capabilities, but also to node devices or virtual service nodes that are not connected to the Internet. The SA's built-in NB-IoT not only provides the 23

basic networking capabilities required by shared network, but also makes the diverse and innovative applications on the network possible. 24

6. Smartshare Application Scenarios Smartshare will build a blockchain-based underlying communication protocol and a massive shared network to realize the exchange of sharing value, saving social resources such as bandwidth, storage, hotspot, power, energy, time, etc. In Smartshare network, the reward mechanism is based on smart contract. The Smartshare Foundation will form a shared cooperation alliance to support various hardware and software. The development protocol is open to to third-party development teams, and Smartshare protocol will be applied in more scenarios. Below are some of the settled product applications that will be implemented in Smartshare. 6.1 Traffic Sharing Application The are currently billions of smart routers. After investing much capital, the profit margin of flow resource is not high. The Smartshare protocol supports different smart router to register, authenticate and transact on Smartshare terminal. Equipment users and owners can transfer the right of use through smart contract to achieve value transfer. Smartshare has built a protocol layer, supporting the quick access of common smart router, which can be upgraded to new sharing smart hardware. And users can share the idle bandwidth, storage space and computing power to exchange digital currency Token. 6.2 Shared computing applications With the development and popularization of cloud computing, deep learning and blockchain technology, the demand of computing power 25

becomes more and more urgent. More and more enterprises increase their computing power by expanding their data centers horizontally. In fact, there is large amount of computing power around our daily lives that is usually wasted, which is from our personal computers, or even smartphone. These devices are not required to perform at their peak performance 90% time in use. If we can utilise the idle computing power, it would be a very powerful computing resources. Smartshare bridges the entire ecosystem through smart chips. Each Smartshare smart chip installed on a smart device acts as a stand-alone node. Through Smartshare, the nodes would be connected and be able to share or exchange value. 6.3 Shared storage applications In Information age, data storage such as local storage is no stranger to us. Local storage refers to data physically stored in computer hard disk or removable hard disk; However, as data stored increases, the hard disk space will eventually be a limitation. Moreover, significant losses may be incurred if the physical hard drive is damaged, and hence comes the birth of professional cloud storage services. For businesses, while cloud storage alleviates the storage pressure, it also allows companies to be limited by third parties. Cloud storage is a centralized service, with service provider having full control over the server. Moreover, if the service provider terminates the contract, the stored data is not accessible anymore. In addition, cloud storage services are provided by professional data centers, where the cost is extremely high. 26

Even mere storage space can incur a high cost if a company needs to store big data. Smartshare allows all users' terminals to be part of the storage network. This storage network has its own unique consensus mechanism and incentive mechanism. Smartshare builds a shared network using authorized voting verification and storage verification. The blockchain is equivalent to the accounting system. When a file is stored, a encrypted private key is generated and provided only to the uploader. The user can only download the file with the right private key; the transaction generated by the entire storage network is fueled by the digital currency, ShareToken. Smartshare network distributes and issues tokens following the prespecified mechanism,and users can share storage space, share valuable documents, publish valuable documents to earn token rewards. 6.4 Smart Weather Monitoring Terminal Smart weather monitoring device. The device has various spherical sensors built-in, such as temperature, humidity, light, air pressure and ultraviolet light sensors to monitor the surrounding real-time weather conditions. The users can start capturing image of real-time weather after purchase. What’s more, users can share the images through various social medial, and become the meteorologist among your friends. If you please, you’ll be able to share the real-time weather status via WeChat, WeiBo or email very easily. The whole sharing process is simple. This type of resource sharing is mainly driven by pure interest, where the users spontaneously share the data obtained by the terminal. However, due to the lack of proper reward mechanism, the frequency and breadth of 27

data sharing is fairly low, and ideal sharing is not achieved. Smartshare plans to reach strategic cooperation with this equipment manufacturer, and quickly access to the smart meteorological equipment terminal through the protocol, as well as calculate the shared data value of users through smart contract to realize returns of Tokens. 6.5 Other Scenarios With the sustainable development of sharing economy, the sharing of content delivery network (CDN), bandwidth, storage space, bicycle, power bank has grew significantly during the process of decentralization to centralization development. However, it’s only rental economy in disguise, and is not an ideal sharing economy. To make sharing economy back to the fully utilization of idle resources instead of rental system, decentralized nature of blockchain is required. In this way, It can not only extend the present sharing model to more entities and individuals, but also can be applied in more industries and scenarios. 28

7. Mining Mechanism 7.1 How to mine The users can mine by using devices with ShareCore chips built-in. During the sharing process. According to shared values provided by devices, tokens can be acquired automatically through smart contract on the chain. 7.2 Equipments compatible for mining In order to share the idle products and ensure the fairness of mining, you shall meet the following conditions: • Use devices developed and manufactured by vendors cooperating with the Smartshare Foundation • Devices implanted with ShareCore chip • Devices are shared as required 29

8.Smartshare Road Map SmartShare Development plan • First phase (In June 2018) Cooperation with 4 companies (Partnership with at least 4 companies from 2 different industry within 6 months) • Second Phase(By end of 2018) Launch of at least 10 Smartshare applications, and accumulate at least millions of users. • Third phase(By end of 2019) Launch of at least 100 Smartshare applications, and accumulate at least 10 millions of users. 30

9. Smartshare Foundation 9.1 Smartshare Foundation The Foundation of Smartshre(hereafter referred to as Foundation) was founded in Singapore, it is committed to the research, development and operation of the project and actively promote the sharing economy. The Foundation will manage the Smartshare ecology by developing a good governance system. The Foundation will announce the progress of the project every month, and release the audit report annually. The Smartshare Foundation is composed of the Policy Committee, Technology Department, Business Cooperation Department, Operations Department, Finance Department, Human Resources Department, Administration Department and Legal Department. 9.2 Smartshare Team Frank Chen, Founder Smartshare Founder and co-founder, he graduated from University of Chinese Academy of Sciences(CAS) with a master of engineering. Former researcher in CAS and China Academy of Telecommunication Research(CATR). In 2008, as a core member, he created Qiandai, which is sold to MeiTuan in 2016. In 2015, he founded KuaiHui Wallet and is engaged in inclusive finance. He is also a Blockchain investor, the current founder of SmartShare Protocol. 31

Liang Yang Co-founder Smartshare Co-founder, he graduated from Beijing University of Posts and Telecommunications with a major of communication engineering. He used to be the head of smart hardware products of Star Network Ruijie (SZ002396), a well-known data communication company in China. He has in-depth research and rich market experience in intelligent terminal products and now is committed to the blockchain technology applied in intelligent terminal industry research. Consultant Team Yuan LI Selfsell Founder Xiao Ying Former CEO of Qiandai Zhu Xuejiao Kcash Founder Huang Qisheng AI expert, Founder of Shenzhen Aobel Electronics Co., Ltd "Shenzhen Highly Professionals" titled 32

Xu Jianfeng China Europe International Business School EMBA Shanghai Quantum Charity Foundation Sponsor, Vice Chairman Guo Xiaoming Yuan Zheng Data Chairman and CEO Daxing District CPPCC members, Beijing Municipal Federation of Industry Standing Committee Peng Guanzhong Moxuan Health Founder, CEO China Europe International Business School, AMP Dai Saiying Co Founder and CEO of Three Fathers Legal Advisor Liu Dayong Beijing Dacheng Law Firm, Partner Lawyer 33

10. Smartshare Private Sales 10.1 Private Sales Smartshare Protocol's token name is SSP, with a total token supply of 10 billion. Private Sales Start Date: January 16, 2018 20:00:00 Private Sales Deadline: January 18, 2018 18:00:00 Hard Cap: 2.5 billion SSP Private placement failure: Less than 1 billion SSPs Raised Proporti Distributio Details on n Plan 25% Private For Smartshare development, equity promotion, project and foundation operations. This part of the funds is regularly publicized. 20% Foundatio For subsequent development of the n Foundation. Lock up period of 24 months according to participation time and contributions. 10% Founding The return team upholds Team Smartshare's technical and operational development efforts and will be paid SSPs in return. This part of the funds will be under smart contract for a lock up period of 12 months. 45% Mining For Smartshare eco-mining. 34

10.2 Exchange Ratio Exchange Ratio 1ETH 100000SSP Note: Please take note of the official announcement. 35

11. Contact Us Official website www.smartshare.vip Email [email protected] 36