DACSEE Whitepaper October 7, 2017

Bangkok, Thailand

DACSEE - Decentralized Alternative Cabs Serving & Empowering Everyone

Abstract: The DACSEE platform is the first of its kind, as a fully decentralized and autonomous ride-

sharing service that allows taxi drivers to pay their initial driver start-up fees in the form of a

cryptocurrency token on the Ethereum blockchain, while processing fares from passengers with the same

token or any other traditional fiat method. Its unique design permits it to expand virally without assistance

or control from any corporate entity. The peer-to-peer payment methods and ability for drivers to use the

platform to foster their own income-producing networks of drivers allows DACSEE to spread

autonomously into new markets around the world, disrupting many of the current monopolistic

competitors.

Authors:

Will Gallo III

Editors:

Ken Nguyen

Eric Kosasih

Lim Chiew Shan

CONTENTS

03 Introduction

04 Industry Challenges

05 DACSEE Approach

07 Fulfilling Market Needs

09 System Mechanisms

15 Implementation

18 DACSEE Token

19 The ICO

21 Roadmap

22 APPENDIX

*Disclaimer: No part of this document presents or describes any investment vehicle, or possible security, in any jurisdiction. Any DACSEE products or information is designed solely to explain the technology being developed and the process of public release. Contributions are made at your own risk and discretion and earn you no rights to any company shares or anything of a similar nature.

3

INTRODUCTION

Ride-hailing has existed since the dawn of the vehicle, when early fuel stations were scarce and travellers

would have to pool their resources and share seats to reach their destination together. In modern times,

this need has been further fulfilled with GPS-powered applications that match travellers and drivers with

spare room in real-time, creating entire economies that had never existed in such a way previously[1].

Modern ride-hailing applications have brought new solutions to this basic human need for travelling, but

have also resulted in a market controlled by unsustainable, power-grabbing corporations that

disenfranchise the riders and passengers and take an enormous and regularly increasing[2] middlemen fee

from both sides of every transaction.

The DACSEE platform returns the power and control back to the people and utilises the newest trends

and technology in the decentralisation and cryptocurrency spheres to create a self-regulating and self-

expanding ride-sharing network that requires no central authority and therefore no middlemen fees. This

peer-to-peer system brings the sharing economy back into the ride-hailing economy and empowers the

individuals to create their own incomes unencumbered, in a multitude of ways, while expanding naturally

and virally into markets that have thus far been inaccessible to centrally-run ride-hailing services.

At the core of the DACSEE project is an Ethereum-based token that allows for the decentralisation of

payment, driver deposits and many of the other empowering features of the platform. Utility of the token

grows in proportion to the expansion of the platform and the initial sale of the tokens will fund the

development and growth initiatives of the project.

1 Harvard Business School -- Uber Changing How the World Moves – http://www.hbs.edu/faculty/Pages/item.aspx?num=50102

2 Forbes -- New Uber Price Rising -- http://fortune.com/2017/05/20/uber-new-pricing-angry-drivers

4

INDUSTRY CHALLENGES

Every emerging market experiences its growing pains and the ride-hailing apps sector is no

different. Today it is run by a handful of giants that receive excessive funding from venture

capitalists and even governments[3], which they use to subsidise fare prices, artificially deflate

passenger's costs and ultimately create unsustainable bubbles that seriously harm the drivers

after the inevitable pop[4].

Drivers face a significant upfront investment cost when they purchase a new, compliant vehicle

for the app and these costs are increasingly difficult to recoup once the subsidies stop. Once

they do, the market has become immensely oversaturated with drivers, who are all left with

greatly reduced income and must scurry frantically for any fares that are left over in a market

overrun with competition.

There are many social costs to the current ride-hailing movement, which have largely left

traditional taxi businesses behind, as they are unable to compete with the massive subsidies of

venture capitalist-funded apps[5]. Taxis exist in many forms in many parts of the world, from cars

to powered carts and there is currently no opportunity for them to join the ride-hailing app

movement and they are left with only being able to be undercut by it.

Governments have been a large point of friction for ride-hailing apps, as they try to enter new

countries. They have long been plagued by complications with taxes and the corporations

refusing to pay their fair share. DACSEE has a complete compliance plan designed for each

country it is currently pursuing, which includes a crypto-wallet that is filled by a smart contract

to use next-generation technology to automate the collection of taxes from the rides that take

place on the platform. These plans allow DACSEE to become a major player in new markets

very quickly, without friction.

3 Grab Funding from Large Public Entities – https://www.reuters.com/article/us-grab-funding/uber-rival-grab raising-2-billion-from-softbank-chinas-didi-wsj-idUSKBN19Z1K5

4 BBC Secrets of Silicon Valley: Ridesharing – http://www.bbc.co.uk/programmes/b0916ghz

5 The Washington Post -- Subsidising Prices in Ridesharing – https://www.washingtonpost.com/news/the-switch/wp/2016/08/23/ubers-controversial-strategy-to-finally-defeat-lyft/?utm_term=.a42282695c26

5

DACSEE APPROACH

These current problems may be reversed by returning the power back to the individuals and offering a

truly feeless network structure that restores a natural and therefore sustainable business flow. DACSEE

provides these tools for the individuals to take charge of their part in the marketplace and by them doing

so, the platform and economy therein grows as well. There are many firm decisions that have been

influenced by DACSEE's open philosophy and they have been solidified into critical parts of the operation.

Open Source technology is a major cornerstone of the DACSEE operation, allowing the public to

constantly audit[6], review and extend the codebase for the application, as well as its lower layers. This

decision allows for the platform to exist without any single point of control or weakness and allows for the

general public to take the DACSEE application in any direction in the future, as markets expand and future

technologies become available. The DACSEE Foundation maintains a public Github Organisation account

where all libraries and source code for the DACSEE project are held.

A hybrid-decentralized operation structure has been designed for DACSEE to operate in a market run by

corporate competitors, while still maintaining a streamlined and community-owned design. DACSEE has

been and will continue to be developed by the highly capable Malaysian startup company development

team, who have taken the concept from an idea to a profitable business over the past 14 months. This

development team is under careful supervision by its employers, who manage the business contacts and

application customers, to ensure quality deliveries.

While there must be a team developing the software, the network itself is designed in an open, extensible

and sustainable fashion, where it needs no core company for its core operations. The referral-based

expansion model means that the platform does not need to take revenue from the drivers or passengers

to fund active marketing campaigns, as the initial funds raised and continued peer-to-peer expansion will

both cover this area adequately, even in the face of billionaire-backed competitors.

Through these key design decisions, the DACSEE platform brings a new paradigm to the ride-sharing

economy and solves many of the glaring issues that have arisen from the current system of centralised,

corporate control of all parties. The growth of the platform does not contribute to the bottom line of a

profit-seeking company, but rather to the overall value inherent in the public system offerings and in both

the income and reduced fares enjoyed by the drivers and passengers.

6 Tech Republic -- Key Open Source Security Benefits – http://www.techrepublic.com/blog/it-security/key-open-source-security-benefits

6

DACSEE Total Token Supply = 3,000,000,000

DACSEE Reserved Tokens = 840,000,000

DACSEE Driver Token Demand = 100 * n DACSEE Token Total Price = A + P + I / 2,160,000,000 DACSEE Market Capitalisation = PPC * 2,160,000,000 N = Number of Drivers A = Angel Round Token Amount P = Pre-ICO Token Amount

I = ICO Token Amount PPC = Price Per Coin

Platform Expansion and Social Value

7

FULFILLING MARKET NEEDS

Having evolved from the natural system of car sharing, there are many secondary benefits that emerge

from a fair ride-sharing model. It creates a more efficient travel experience throughout major cities and

provides economic opportunities for all types of drivers, which they did not have access to previously.

Environmentally cleaner

As the worldwide trend to decentralized services and greater efficiency continues, fewer cars need to be

made, which decreases the amount of metals and plastics that must be extracted or created from the

earth, which is a process that has many harmful effects[ 7 ]. This lowers humanity’s global footprint

considerably and helps the world move towards a cleaner and more sustainable path. In addition, for

every car removed from the road due to the sharing of rides, much less pollution is released into the

atmosphere, which reduces greenhouse gases and global warming. Therefore, there are many primary

and secondary ways in which ride-sharing pushes humanity towards a cleaner and brighter future.

Economic opportunity

Accelerated by modern advances in network and information technology, the sharing economy continues

to creep into every micro-facet of society, opening up new opportunities for increased sharing and income

streams from everyday assets. This is very true in terms of the ride-sharing economy, as anyone is able to

earn income from their daily vehicle, at any time of day, as they please. With DACSEE, this opportunity is

expanded even further, by removing the middlemen fees that can exceed 30%[8] and would otherwise

seriously eat into the earnings of the individual. These business opportunities were previously only

available to incorporated and bonded taxi companies, which creates a very high barrier to entry. Now, this

business is accessible to anyone with a smartphone and a safe, modern vehicle, which significantly

increases global opportunity.

Decreased traffic congestion

Every individual that drives themselves is adding another car to the road, but an average ride-sharing

driver can play his or her part in reducing total cars on the road by 75%[9]. This significantly reduces the

traffic congestion in cities around the world and allows for a much safer and fluid transportation system

overall. Additionally, full-time ride-sharing drivers are known to be safer than the average driver as they

have many times more hours behind the wheel, as it is their full-time profession. This uses the natural

economic force of specialisation to make cities safer and decrease overall traffic waiting times.

7 MIT.edu -- Environmental Effects of Mining -- http://web.mit.edu/12.000/www/m2016/finalwebsite/problems/mining.html

8 Forbes -- Uber Tests Taking Even More From Drivers With 30% Commission -- https://www.forbes.com/sites/ellenhuet/2015/05/18/uber-new-uberx-tiered-commission-30-percent

9 Mercury News -- Study: Uber, Lyft Carpool Services could reduce traffic by 75% -- http://www.mercurynews.com/2017/01/03/study-uber-lyft-carpool-services-could-reduce-traffic-by-75-percent

8

Saving lives

Even with technological advances in vehicle safety features, vehicle accidents are still the leading cause of

death for younger people in all parts of the world[10] in the modern era. Having fewer drivers on the road

and having them be specialised and safer, can have an immensely favourable impact on the amount of

accidents that happen around the world. Ride-sharing achieves both, by removing cars from the street

and ensuring that more of the drivers on the road at any given time are drivers who are spending

considerable time driving around the local area and gaining potentially life-saving experience with all

micro-situations in a given area. These are important factors in helping to ensure the safety of local

communities.

Less parking space required

Parking lots can account for 14% of land in developed areas[ 11 ] and have become a staple in the

landscapes of cities and suburbs of the western world[12]. This creates a massive impact on the ecology of

the planet, as it decreases the amount of carbon-removing plants, absorbs more sunlight into the earth

and reflects more heat back into the atmosphere. Additionally, the need for less parking lots due to fewer

unused cars allows for new city plans to come to life; with civil engineers and safety planners already

planning for the impact and opportunities being brought by ride-sharing and eventually autonomous

vehicles[13].

Stepping stone to an autonomous future

The inevitable result of future technologies is already emerging around us, is being trialled and discussed

quite publicly[ 14 ]: Autonomous Vehicles. An increasing amount of industry experts are expecting

widespread adoption within 10 years[15] and this will have significant impacts, both positive and negative,

on the ride-sharing economy. DACSEE will be fully ready for these advancements and has already

undergone planning phases for allowing its system to empower future users to earn 100% of their own

commission from their own autonomous vehicle(s), to fight the attempted corporate takeover that is being

planned by current incumbents[16].

10 WHO World Health Organisation - Road Traffic Injuries - http://www.who.int/mediacentre/factsheets/fs358/en/

11 Mentalfloss - How Much Land in LA is Dedicated to Parking Spaces? - http://mentalfloss.com/article/77143/how-much-land-los-angeles-dedicated-parking-spaces

12 NY Times - Paved, But Still Alive - http://www.nytimes.com/2012/01/08/arts/design/taking-parking-lots-seriously-as-public-spaces.html?mcubz=1

13 SD State EDU - Future of Transportation Infrastructure - http://newscenter.sdsu.edu/sdsu_newscenter/news_story.aspx?sid=76535

14 Wired - As Uber Flails, Its Self-Driving Tech Rolls On - https://www.wired.com/story/uber-crisis-self-driving-pittsburgh/

15 BusinessInsider - Elon Musk 10 Year Prediction - http://www.businessinsider.my/elon-musk-predicts-most-cars-will-be-driverless-in-10-years-2017-2/?r=USandIR=T

16 Bloomberg - Uber’s First Self-Driving Fleet Arrives in Pittsburgh - https://www.bloomberg.com/news/features/2016-08-18/uber-s-first-self-driving-fleet-arrives-in-pittsburgh-this-month-is06r7on

9

SYSTEM MECHANISMS

Decentralized Expansion Through Paid Referral Networks and Driver Verification

Many ride-hailing networks, such as Uber, Grab and Lyft, utilise the concept of “alphas” or “mentors,” in

which current drivers receive a one-time referral bonus for registering their peers as drivers. The motive

behind this system is to create an atmosphere of accountability among drivers, thereby increasing safety

for the passengers. DACSEE achieves both accountability and security by verifying its drivers through an

existing commission payout system. This viral or exponential approach allows current drivers to create a

network of referred drivers who provide passive income for their referrer over time. The existing drivers

must validate the documents of all drivers they are referring for employment. In addition, before they are

allowed to register the new drivers in their line, the current drivers must assist the candidates through the

process of verification by three additional sources. In this way, the system becomes self-sustaining. The

Malaysian startup partner has used similar systems successfully in its previous commercial apps[17] to

spread its apps virally without incurring significant marketing costs.

A. Decentralized Ride Monitoring Network

Another security feature provided by the decentralized DACSEE network is monitoring of other

cars nearby. The app allows for anonymous, scrambled monitoring of the microphone (as

agreed in the terms) which cannot eavesdrop on conversations (as all signals are scrambled

before transmission) but can monitor audio levels to detect a passenger’s scream, in the event

of a collision or wrongdoing inside the car. This continually running security measure is

extremely important, as safety in decentralized systems is a major concern. The DACSEE team

has taken this issue very seriously and incorporated a solution that will succeed for the long

term.

B. Saved Drivers List for P2P Experience

Passengers will be able to use our software to save lists of their favourite or most trusted drivers,

enabling them to be able to pick and book their favourite drivers for scheduled or last-minute

rides. This creates a web of trust for each individual, which can be further expanded as drivers

recommend other trusted drivers to their passengers, if they are not able to assist them at that

time. Reputation and feedback are of utmost importance in online networks[18] and that principle

holds true here, as it directly influences drivers’ income.

17 Malaysian Startup Symple Application – http://symple.my/

18 Need for Reputation in Online Networks – https://www.techwyse.com/blog/searchengine-optimization/importance-online-reputation-management-orm

10

C. Sustainable Passive Commission Income

Drivers using the DACSEE platform will be able to build and foster the growth of their own fleet

of drivers. As they verify and recruit new drivers to the DACSEE network, they lock in a

permanent commission from them and add them to their referral network, which earns them a

percentage of all fares taken by that driver. This empowers all drivers on DACSEE to go into

business for themselves, as an entrepreneur that is growing the DACSEE network and gaining

personal income.

D. Transferable and Inheritable Taxi Businesses

As drivers expand their enterprises (described above), they will be comforted in knowing that

they are building a business with long-term value. All works, referrals and customer bases will

be transferrable to other verified drivers on the network, including friends, family and heirs. For

example, when a DACSEE driver retires, he could hand his ride-sharing business down to his

adult children, creating a valuable source of income for his heirs. This type of legacy and income

potential would be particularly attractive in developing countries. In addition, this transferrable

option would allow drivers to sell their businesses, if they chose to do so and after successfully

going through the similar verification, just like the process of a newly registered driver.

E. Evenly Distributed Jobs

To avoid the often cut-throat nature of the taxi business[19], DACSEE incorporates a dual system

of income through actively driving and passively earning commissions, offsetting the need for

individual drivers to rely solely on the fares they can grab from the passenger pool. The

empowering referral system encourages drivers to bring each other onto the system, and earn

regular commission from their rides, which is in stark contrast to systems like Uber, where

adding additional drivers will only hurt every driver’s bottom line. This makes the sharing

economy work in favour of both the drivers and the passengers on the DACSEE platform.

F. Referral Based Marketing and Expansion System:

DACSEE systems are built to be highly sustainable for the long term. The empowerment of

individual passengers and drivers propels the growth of the DACSEE platform. The software is

designed to allow the massive market pulls to bring our technology into all corners of the world.

One such tool is the built-in commission and referral system, which truly allows drivers to build

their own fleet of taxis. By recruiting, verifying and assisting new drivers onto the platform,

DACSEE drivers can create an income-producing referral networks wherein they earn

commission from their drivers’ fares. There are three levels in the DACSEE commission system.

Current and previous field tests of the software have proven this three-tier system to be the

most profitable and balanced by minimising the effects of oversaturation within a given market.

For example, at the first level of a driver’s network, he receives 1 percent of the fare from his

19 Competition Nature of Taxicab Market – https://www.timeslive.co.za/news/southafrica/2017-08-10-new-taxi-app-to-work-with-metered-taxis-to-quell-violence

11

own recruits. At the second level, in which his recruits start to refer even more drivers onto the

platform, the original driver earns 1 to 2 percent commission from the fares of the drivers that

his recruits hired. The third level is where the range spreads considerably and thousands of

drivers may begin to appear in the original driver’s commission network. From this level, he is

earning 1 to 2 percent commission, which is a figure that can add up in a very meaningful way.

In example, if an average fare is $10 and a driver has a network of 1,000 drivers in his fleet, then

his daily income and commission could exceed $500. This creates a sustainable ecosystem that

continually pays an income to drivers when they are in their off hours. However, this system

utilises constant micro-transactions and is currently not feasible, at this point in time, for a

decentralized network like a blockchain, which would be highly cost-prohibitive[20]. Therefore,

the hybrid decentralized model of the DACSEE project fills this gap successfully, as it offers the

customised and scalable framework in its server backend to handle the micro-transactions

required for this level of account balancing. The commission received are handled in the

commission wallet of the driver, which he can transfer to his cash wallet and withdraw from at

regular intervals.

20 Bitcoin Unfeasible for Microtransactions – http://simondlr.com/post/46590540723/unfeasible-micro-transactions-in-bitcoin

12

Figure 1: Application v2.0 Technical Flow

Figure 1 (above) depicts the technical flow of the application, as it handles all requests, payments and

extraneous information being processed by passengers, drivers, the local exchange(s) and the DACSEE team.

The back end consists of an API engine that is continually pulling and pushing data from the secured MongoDB.

The entire application is being moved from the current Amazon Web Server to the customised Google Cloud

Platform. This move was made possible through the Malaysian startup’s partnerships with the local Google

Cloud Platform team, allowing for a complete and tailor-made platform that can expand and contract in an

intelligent and autonomous fashion to meet application demands and user needs.

The front-end consists of two separate but cross compatible applications that were built from the ground up by

the startup’s team for the iOS and Android mobile operating systems. These and other applications have been

the full-time focus of two UX/UI programmers [21] and three back end NodeJS and React programmers from the

Malaysian Startup[22] since the company first began in early 2012 [23]. All software has been iterated upon several

times since its conception to increase efficiency and cater to changing market demands.

21 Frontend Lead Malaysian Startup Designer - https://www.linkedin.com/in/chee-hoo-chim-23b632b4/

22 Backend Lead Malaysian Startup NodeJS & Mobile Developer - https://www.linkedin.com/in/abd-el-rahman-hossam/

13

Figure 2: Application v2.0 Payment Processing Flow

Figure 2 (above) depicts the flow of payments throughout the DACSEE network. As an example, for every fare

that is collected by the driver, 5 percent enters the DACSEE Growth Fund to continue expansion and operations

and another 10 percent is taken to pay the driver and passengers referrers, as well as to the other peers in the

P2P system, such as driver verifiers and node and security monitoring providers. This example of mere 15

percent offers major cost benefits when compared to competing ride-hailing systems and returns all revenues

back to the community.

23 Malaysian Startup ‘12 Registration - https://www.ctoscredit.com.my/business/INCREDIBLE-QR-SDN-BHD-1013518M

14

Figure 3: Application v2.0 Commission Wallet System

Figure 3 (above) illustrates the payment structure of the DACSEE commission system and the flow of payments

and commissions. The local exchange balances the accounts for the drivers.

15

IMPLEMENTATION

Phase 1 Working Prototype - Initial Application - Ethereum Token Integration & Implementation

The DACSEE ride-sharing platform has several phases to its initial public release. These stages occur in

parallel with the funding rounds, which provides capital that is immediately used into development.

Phase 1 of the implementation involves the initial working system prototype, which takes version 1 of the

software and begins to integrate the next-generation token payment features. The iOS and Android mobile

applications of the fiat version have been completed and are available for testing already. These will be

made completely open-source on the DACSEE Foundation Github after the funding rounds have

completed.

The Ethereum payment gateways and exchange integration will power the test payments made at this

stage. APIs and cross-system operability will be initialized at this stage, setting the stage for the future

releases to offer complete functionality of the fare payment and referral bonus systems.

This initial release will lay the foundation for future public releases which will iterate very quickly, as

DACSEE scales to the many markets around the globe. The initial features will be completed very quickly

by the core development team well before the end of the sale periods, to allow rollout to begin and the

next recruitment steps to get underway as the funds are collected in parallel.

16

Phase 2 Driver and Passenger Recruitment Drive - Updated App Implementation

The next phase of rollout involves the pre-launch recruitment offerings. Before the network goes live, all

interested drivers and passengers can refer others to the platform and claim them in their income-

producing referral network. This creates a large user pool for the network before it has even been

launched. Options for local cash payout systems are being drafted for this stage, to allow the local

transfer of DACSEE tokens through the app itself, allowing drivers and any commission earners to cash

out their earnings even before the token listing on the exchange, following the crowdsale.

This phase will be marketed through contracts with many marketing agencies throughout Asia as well as

the west and the excitement can feed on itself as taxi drivers recruit their friends and co-workers onto the

platform, which causes those referrals to do the same, until a large network effect takes hold in

anticipation of DACSEE launch.

An updated version of the application will be released in conjunction with this phase and will involve many

tests to solidify these parts of the system. It will test the functionality of the referral trees, the commission

wallets and the DACSEE coin wallets, and various levels of cashing out are currently being drafted and

trialled in anticipation of this phase.

17

Phase 3 Local Fiat Exchange and Payment Processing Integration – Live Software Launch - Driver Fare & Referral Profit

Phase 3 of implementation allows for DACSEE drivers and passengers to begin using the exchange to

receive their financial income from their registered referral networks within the application. This greatly

facilitates the entire process, and is the beginning of the DACSEE platform being able to properly provide

compensation for all drivers and commission network members. Being able to cash out payment tokens

locally with the peer-to-peer wallet would still be available, but once drivers and other income earners are

able to sell their tokens to the global markets through the application’s integrated online exchange, the

speed and efficiency of this entire process is greatly increased.

This period of great excitement will be accompanied by its own marketing initiatives, to create large public

announcements of the income that the users of the platform are receiving, in an effort to push new users

and DACSEE system entrepreneurs onto the platform. There are several marketing groups being

partnered with in target markets, which will amplify the message of DACSEE, its vision, and the income

being generated by all the empowered individuals using the new platform. This phase will occur after the

end of the funding rounds, once the DACSEE tokens have been listed on the exchange, and will

contribute to the growth in value of the entire network, in terms of utility and benefit for society as a whole.

18

DACSEE TOKEN

DACSEE token is the decentralized Ethereum ERC20 token that customers will use to pay for taxi rides in

a cryptographically-secured, unstoppable fashion. It will be distributed to all ICO contributors

automatically through the Ethereum network and will be accessible to all users online through the

DACSEE Wallet App and in the Google Play Store. Like all ERC20-compliant tokens, DACSEE token may

be stored and transferred only with an Ethereum private key and can be used across platforms in many

wallets compatible with Ethereum.

A major driving force behind DACSEE token demand lies in the many ways that it is used within the

DACSEE ride-sharing app. In most cascading ride-hailing applications, drivers are required to pay a

deposit before accepting passengers, so that their referrer can receive their commission. DACSEE is no

different; however, in this platform the driver pays the commission in the form of the DACSEE token. This

makes a market demand, as all drivers on the platform will have to purchase the token through the

integrated exchange using the application, or as a non-driver, will be using other websites or exchanges.

FOUNDATION RESERVES

From the 3 billion DACSEE tokens to be created, 840 million will be held by the non-profit DACSEE

Foundation, which is based in Thailand. The foundation will hold these tokens in a time-locked escrow

account to allow for price stabilisation and will receive them at predetermined intervals as it pays out

DACSEE developer bonuses and funds long-term marketing, expansion and outreach efforts.

Marketing agencies in strategic countries are to be paid from these reserves as the platform rolls out

globally. High on the list are South Korea, as well as Mexico and Brazil, which have very active yet

underserved ride-hailing economies and large populations of unbanked residents. These advantageous

conditions, as well as personal connections and blueprints for rollout in those countries, present ideal

opportunities for launching DACSEE.

The foundation will thrive financially through the widespread success and adoption of the DACSEE

platform on an international level. To stimulate this expansion of the network, the foundation will launch

initiatives ranging from promotional driver deposit coverage programs to direct marketing and advertising

campaigns in targeted areas. As a major holder of the token, the foundation’s long-term success depends

on its active participation in the expansion of the token, so that the high return may fund further outreach

and reward all users of the platform.

19

THE ICO

Initially, a total of 3 billion DACSEE tokens will be pre-mined on the Ethereum network, on October 3rd,

2017, with 18 decimal places of divisibility and the total token amount being fixed permanently. There are

to be three official token-based funding rounds for this project, after which time no further DACSEE

tokens will be available for purchase at initial sale prices, meaning DACSEE tokens may be purchased

only at exchanges in the future and at future market rates.

Tokens will be offered for purchase and claiming during the Angel, Pre-ICO’s and general ICO round.

There is no added bonus in the ICO round, but further application development will be available for use

and testing and additional public marketing outreach will be conducted; meaning that perceived

contributors risks are greatly minimised by this round. This final round will end on May 31, 2018 and all

DACSEE ICO tokens will be distributed to all contributors of all rounds by a date no later than June 14,

2018, exactly two weeks after the conclusion of the DACSEE contribution period.

20

DACSEE coins are to be listed on integrated and outside cryptocurrency exchanges, following the initial

token-based funding rounds. DACSEE token is an ERC20-compliant Ethereum token, meaning there will

be no additional technical hurdles to overcome for any Ethereum-compatible cryptocurrency exchanges,

in the process of listing this token. Verification of the token information and relevant team members will

occur for this token to be added to the various exchanges, and the preliminary steps are underway for this

process to complete successfully.

21

ROADMAP

22

APPENDIX Angel Round – Earliest round of ICO, allowing the highest bonus for participants.

AWS – Amazon Web Server, a cloud hosting company for server-based applications.

Bittrex – Las Vegas-based cryptocurrency exchange, targeted by DACSEE for token listing.

Blockchain – Decentralized accounting ledger with open-source nodes operating globally.

Cash Wallet – Wallet for drivers that holds fiat value or DACSEE tokens; allows for withdrawals.

Commission – Earnings that one driver may make from the work performed by a referred driver.

Commission Wallet – Wallet for drivers where they receive their commission payments, able to be

transferred into their cash wallet for withdrawals, subject to minimum thresholds.

Cryptocurrency – Currency based on the blockchain, secured cryptographically from hacking.

Crypto Exchange – Online exchange taking fees for the conversion between cryptocurrencies.

DACSEE – Decentralized taxi ride-sharing protocol.

DACSEE coin – Custom ERC20 ICO token created by DACSEE for fare settlement.

DACSEE Foundation – Singaporean-based nonprofit organised for DACSEE platform expansion.

Decentralized – A system without any central authority or single point of failure or attack.

ERC20 Token – Token minted and dispersed on the Ethereum network, compliant with ERC20.

ERC20 Token – Token asset created on a standardised system on top of the Ethereum Network.

Ethereum – Blockchain built for decentralized execution of computation, offering programming in the

Solidity programming language.

Ethereum Network – Computation-powered decentralized network running with the Solidity

programming language, allowing for shared execution of computation.

GCP – Google Cloud Platform, a responsive server architecture for dynamic web projects.

Grab – Dominant ride-hailing platform of China, connected with the government and wealthy venture

capitalists.

ICO – Initial Coin Offering, a way for projects to raise funds from the public for development.

Local Exchanges – Exchanges set up currently or in the future for conversion to local currencies.

Poloniex – Powerful USA-based crypto to crypto exchange targeted by DACSEE for token listing.

Pre-ICO – Early round of ICO, allowing an added bonus to early participants.

Referral – Initiating, verifying and supporting new drivers onto the DACSEE platform.

Ride-Sharing – A booming industry of applications to connect drivers and passengers on demand.

Sidechains – Additional blockchain running concurrently, to provide discounted transactions and/or faster

centralised consensus.