Hello, everyone! My name is Han Jae-young. I'm the CEO of MYCOLDWALLET. Long time no see. I'm glad to meet you in this video. Today, I want to tell you the white paper summary
for MYCOLDWALLET and p2p-DeFi. I think this project is very important
to all cryptocurrency users, Because this business, this p2p DeFi can help
all of small business owners and everyone. You know many people talk about the 4th industry. What is the 4th industry? Actually I don't know details, But many people talk about AI, remote work, deep learning, autopilot, block chain,
renewable energy, untact, AR/VR, smart farms. Some people say smart farms are vertical farms.
Another one says it is the untaint.
You know Covid-19 crisis demands
an untact payment with the untact business. I chose the untact business as part of the 4th industry. Another one is the DeFi. Now the block chain base DeFi service keeps improving last year in a sudden, It will be increased same this year. But our DeFi is a bit different. I named our DeFi service, p2p-DeFi, because nowadays many DeFi service is
p2c(peer to company)-DeFi.
My suggestion about p2p-DeFi is directly connecting peer to peer. And this p2p-DeFi business will be launched on MYCOLDWALLET app service. Why does the p2p-DeFi service run on MYCOLDWALLET? Because this p2p-DeFi needs personal information
for connecting to each user. That information is very important in security. This is our goal, all of the people connect
for p2p-DeFi on MYCOLDWALLET with users.
I want to tell MYCOLDWALLET service
what is different from other wallet service, Before talking about p2p-DeFi service. And you know Exchanges had many accidents like hacking or losing their private-key even individuals are same too. You know December 2018, Qudriga CEO suddenly died,
when he was traveling India. Unfortunately Qudriga CEO managed
all of the cold wallet of Qudriga Exchange. That Exchange couldn't find the cold wallet private-key.
And now that Qudriga Exchange bankrupted. 100,000 customers couldn't take back all their coins. because Qudriga's cold wallet is locked by missing private-key. And another one is MT.GOX. You know MT.GOX is very famous. MT.GOX Exchange is the first Exchange for Bitcoin in the world. That time MT.GOX Exchange got hacked, 2013. But that time a small country, Cyprus had
an economic crisis. And Cyprus government wanted people's 10% of money in the banks
to fix the economic crisis The government pushed people to find new ways to hedge their pockets. Cyprus people bought Bitcoin from MT.GOX,
it made the price go up to $1300. But the next MT.GOX was hacked,
that Bitcoin price went down to $10 per Bitcoin. That happening made the shock
in the new cryptocurrency world with people.
Why did MT.GOX lose all of Bitcoin? Because MT.GOX announced
they got hacked by the hackers. But MT.GOX has not fixed this problem yet. Another case is my case. I stored 500 ETH in Bitfinex Exchange for trading and storing. That time Bitfinex got hacked by an unknown hacker. That time Bitfinex lost 36.3% of its assets
from all of Bitfinex accounts. Unfortunately Bitfinex tried to investigate that happening,
but that Bitcoins are stored in Bitgo accounts, But Bitgo accounts always allow withdrawal, when Bitfinex and Bitfinex customers use their signature
through the Bitgo service.
But Bitgo service said they didn't have any fault. Bitgo said it is Bitfinex and Bitfinex customer's mistaken. That time Bitfinex Exchange made the decision
to cut 36.3% of coins from all of its customers. I was returned 300 ETH by the Bitfinex decision. That time I was so angry, why did it happen to me? Now I know what happened in that situation,
why private-key is not easy to control, why Exchanges keep losing their own coins
with the private-key problem. Many people are still losing their own coins
and Exchanges are the same too. Even Binance, even Upbit are the same too. Nowadays all wallets use these recovery words. This recovery words are easily exposed
or lost by owner's mistake If users exposed their own recovery word,
then what would happen? These recovery words can be put in any wallet. Any hard wallet, any app wallet, or something. Always making the same account. If someone saw this information,
then this account is not owner's anymore. Because these recovery words make the same account in every wallet.
But MYCOLDWALLET does not use recovery words anymore. MYCOLDWALLET uses
the Smart-Contract based protection account. That account doesn't need recovery words anymore. Now I'm explaining
why MYCOLDWALLET's protection accounts
don't need recovery words. Because MYCOLDWALLET's protection account has two parts. One is MYCOLDWALLET core. That core has all the rules to handle
the user's protection account. And the user's protection account
can save user's Ethereum and ERC 20 token. And this protection account has one signature,
the user's signature. And another one is account activation period. That period is always set by the user. And MYCOLDWALLET core has
the management system's signature.
And that core and protection account are connected. This is the basic structure
for MYCOLDWALLET core and user's protection account. Now I'm explaining how to process
MYCOLDWALLET protection account to use again. Even in the case of user's device loss or application deletion. This protection account has the user's signature. And reference the management system's signature. User's signature is always activated on the protection account. But the management system's signature
is not activated on the protection account. And this account has a one year period to activate the account.
What will happen if the user doesn't use it for a year? That time the user's signature is deactivated
by the user's account activation period And management system's signature is activated
to change user's signature or reactivate user's signature. If the user's signature was deactivated,
then the user can request the user's signature replacement. And then the management system's signature
can change the user's signature for replacement. Next, the user's signature is replaced by
the user's request And the management system's signature is deactivated again. This process helps the user's protection account
use continuously until the user removes it.
MYCOLDWALLET doesn't need recovery words anymore. Because MYCOLDWALLET can easily replace the user's signature by user's request. We DO NOT give recovery words,
it means your recovery words are never exposed to someone. It is MYCOLDWALLET's figure thing
for protecting your asset perfectly. MYCOLDWALLET service launched on 23th October last year. And this wallet has passed the KISA security
level test. KISA is the Korea Internet & Security Agency. And another one, MYCOLDWALLET protocol succeeded in
perfect defense by hacker's attack. I recommend you to download and use now. Do not worry anymore To be safe Easy to use Has protection account It is MYCOLDWALLET. p2p-DeFi, it is very important for us, for you. You know nowadays many DeFi services
are not close to traditional business. But this p2p-DeFi is very close
to traditional business with small businesses. Now I'm very excited
because now I can tell this p2p-DeFi to you. Actually we prepared three types of tokens. First one is Ticket token, Second is Coupon token, Third one is the Subscription token. This token is not ERC 20 nor NFT. Now I want to tell you how to use this ticket token.
Ticket token is the same as the tickets. This picture describes how to use this Ticket token. First Jone,
Actually John lives in LA, He made 50 pieces of party tickets. And he decided the price, 1 ETH per ticket. Now create. And another one, Mark and Tom got the alarm
by MYCOLDWALLET relay server. And Tom and Mark bought these tickets to enjoy the party. Payed Ethereum is stored in the one-time escrow
account. That one-time escrow account is generated
when user issued Ticket token and Subscription token to store Ethereum in this account. Mark attended this party
First of all, He sent his ticket to Jone. Jone is the host of this party. But Tom couldn't attend this party,
because he was very busy. And after party ended,
Jone requested from the one-time escrow account. And what happens next? One-time escrow account gives 1 ETH to Jone,
Another 1 ETH to Tom, Because Tom didn't use his Ticket token. Tom got all the money he bought the ticket back.
This is an example of using the ticket token. It is very easy. And DO NOT need a third party's payment system anymore. Because this Ticket token can process on Ethereum network
by the Smart-Contract technology. And next, I want to tell Coupon token. Sam is the owner of Babashop. He made 80 pieces of discount coupons,
that coupon reserves 20% discount. Bobby got that coupon for a 20% discount. And next, Bobby had hair care,
and Bread had the same hair care too.
But Bread didn't have the coupon. Bobby paid $80 with a 20% discount token. But Bread didn't have the discount coupon,
so he fully paid for $100. This is Coupon token, it is very simple. And next, I want to tell the Subscription token. It is more complicated than Ticket and Coupon tokens. Chris is a private tutor for English class. He now wants to make the Subscription tokens
for his students and others.
Actually he made 8 pieces
of the English class subscription tokens. That token has a duration of 30 days. And the price is $100. Actually that Subscription token
begins 1st November of this year to the last day of November. And Susan got this Subscription token to learn English. What would happen next? Actually all the subscription tokens
Chris had made were sold out. It is very lucky for Chris. And all of the money bought Subscription tokens
is stored in the one-time escrow account.
And this escrow account is a contract
account in the Ethereum block chain. And Chris had streaming service for his students. That time he uses personal streaming platforms,
like skype, zoom, or hangover, etc. to teach his students. But Susan unfortunately disappointed his English lessons. Even this Subscription token remained half of the days. And next she sent that Subscription token
to Chris to end the subscription. Next what happened? Chris got $750 from the one-time escrow account. And Susan refunded $50,
Because Susan returned her Subscription token to Chris. It is a very fairable business model
for all of the involved business for buyers and sellers. These 3 types of tokens can help all the small businesses. Shoppings, restaurants, streamings, theaters, exercises,
academies, subscriptions, movies, charities, whatever can be done through these 3 types of tokens.
I want to tell you more information
about the Subscription tokens. Online business. Subscription can help E-learning, like Chris' Business. Game free server You know the many free server operators
open that free server for old gamers. And that operator can use
this Subscription token for their business. And another one is a streaming service like Chris. And this subscription can be used in local businesses. Academy membership You know many people want to learn instrument skills, like piano, violin or some other things,
even other learning things.
Local learning classes can use this Subscription token. And next, Regular delivery goods. You know many citizens use this business
to get fresh morning meals, newspapers or some others. A lot of variety delivery services
can use this Subscription token. And another one,
Exercise and Hobbies You know many people want to exercise, because almost people now stay at home by Covid 19 problem. And Exercise group or hobby group leaders
can use this Subscription token to that group's members for making better programmes. It is Subscription token's role for all of that business. I want to tell p2p-DeFi token issuance and
notification to each of MYCOLDWALLET users. Users use MYCOLDWALLET to make Ticket / Coupon / Subscription token through MYCOLDWALLET core. Next, coupons are generated on the user's device. Next that all issued p2p-DeFi tokens information
sent to the notification server. That notification servers are alarmed
to all of MYCOLDWALLET users, like this picture. Generated token and this coupon moves
to the notification server.
And notification servers share
that information to all of MYCOLDWALLET users. And MYCOLDWALLET users easily can filter all
of the p2p-DeFi token alarms. It is the notification server for MYCOLDWALLET users. And next, that all of Ticket / Coupon / Subscription can easily
be exchanged through MYCOLDWALLET DEX protocol. You know people sometimes buys ticket
which doesn't need anymore that time people can sell their subscription token, All of MYCOLDWALLET users exchange
their own p2p-DeFi tokens. If every people want someone's independent Ticket token. But how to get that token? That time people use this MCW (MYCOLDWALLET) DEX
to exchange all of the p2p-DeFi tokens We can help that p2p-DeFi token
exchange for all MYCOLDWALLET users. Value growth of DFM The DFM token can help users to reduce fees. And next that DFM token will be used
for MYCOLDWALLET service maintenance and repair. And it will help to improve user support. Another one is developing a new p2p-DeFi token.
DFM token makes possibilities
for all of MYCOLDWALLET business. And How to get the DFM token? And this picture describes
DFM token's information on etherscan.io. And max total supply is 2,000,000,000 DFM. This is our DFM token's contract address. DeFi on MYCOLDWALLET it is what we simply call DFM token. This page is very important to you, because it describes how to work
the DFM token through MYCOLDWALLET ecosystem. And p2p-DeFi tokens, when people issue them. That issuance fee moves to DFM / ETH swap pool,
Uniswap.org and Kyber.network. It changes to the DFM token
and moves to the user's protection account. And the user's protection account got withdrawal orders,
or modified the protection account condition. That time usage fee moves to DFM / ETH swap pool
to get DFM token again to the protection account. And same thing happens in MYCOLDWALLET DEX,
That time exchanges fees move to the DFM token, DFM tokens move to the protection account for reward. And that helps DFM token growth. Users generate tokens, issue tokens, withdrawal assets
from the protection account, exchange their p2p-DeFi tokens. That time all fees move to the DFM / ETH swap pool, and that DFM token moves to the user's protection account
for saving cost and for growth of DFM token.
This is MYCOLDWALLET's token economy system. User's issuance fee, user's usage fee, user's exchange fee
does not directly move to us. Just change to DFM token for all of users. It is very simple. I'm really excited to describe this ecosystem to you. Now we begin with DFM token sale, Round 1, we will sell 100,000,000 DFM. And this DFM price is 20,000 DFM per 1 ETH. It insurance 60% bonus against round 3. And round 2, begins when round 1 finished, This also sells 100,000,000 DFM.
But the price is different.
16,666 DFM token per 1 ETH. It insurance 33.33% bonus against round 3. Round 3 does not have any bonus. It also sells 100,000,000 DFM. It's price is 12,500 DFM,
which is equal to 1 ETH. And how to get this token? You can swap your Ethereum to DFM
in Uniswap, Kyber.network's Kyberswap, and ForkDelta. They are the popular DEX (Decentralized Exchange). You can buy, you can swap DFM tokens
from Uniswap, Kyber.network, and ForkDelta. Today I summarized our project of white paper. You can read this white paper from our website and discord. I think MYCOLDWALLET and p2p-DeFi token
can make a better way for the cryptocurrency world. And we successfully launched MYCOLDWALLET application
for cryptocurrency users, And we will invent the p2p-DeFi token
for all of cryptocurrency users. Today, the world has 200,000,000 investors in cryptocurrency. And my country, South Korea,
has 5,000,000 investors for cryptocurrency. That people has possibility
to become the customers for our service.
You know MYCOLDWALLET team needs funds for this project. You can help us to improve MYCOLDWALLET service,
to invent p2p-DeFi tokens. We need your contribution
for making a better cryptocurrency world. We proved our technology through MYCOLDWALLET service,
I really want you to join us. Thank you for watching my presentation for my project. Please visit our website, discord server and telegram. I always wish you to be safe and healthy in this pandemic. Bye bye, See you next time!.