Elo whitepaper 14 Final · global advertising market has been growing steadily and reached a market cap valued over 550 billion dollars in 2017. Outdoor advertisements such as billboards,

Elo.Network

AbstractBuilt on top of the Ethereum public blockchain, the Elo Network introduces a trustless transit advertising platform that leverages the benefits of a hybrid semi-de-centralized architecture to offer a matching service for brands looking to advertise their products and drivers trying to earn extra money by placing a sticker ad on their cars. The platform is built upon research in behavio-ral psychology to incentivize drivers to always partici-pate in campaigns, and uses blockchain technology to maintain transparency and trustlessness.

Whitepaper

Disclaimer

This whitepaper constitutes a description of the Elo Network Ecosystem, the use of block-chain and the creation and use of the ecosys-tems native Elo token.

Elo tokens are to Utilize, participate and consume on the Elo Network ecosystem being created and not for other purposes including financial, speculative or investment.

This document is not a prospectus and does not constitute nor implies a prospec-tus of any sort.

Risks and DisclaimerTokens are a new technology and thus there may be risks involved that the company cannot foresee.

The success of the business model and concept will depend on many factors that may be outside of the Elo Networks control.

Purchasing the Platforms Utility Tokens are be subject to many potential risks including price fluctuation, illiquidity on secondary market and purchasers could lose all or some of the value of the funds used to purchase the token

While entering into any transaction based on this whitepaper the buyer understands that there shall be no withdrawal right from the transaction

Elo Tokens are not in any way or form an equity ,interest ,forward contract, warrant, swap, liability security , debt owed by the Elo Network. Elo tokens are sold as a functional ERC 20 token and all proceeds collected by the Elo Network may be used freely without any conditions.

Due to any number of uncertainties in the cryptocurrency industry, including but not limited to resource volatility, business failure, government regulations, lack of technologi-cal development, or any other unforeseen circumstances, the Vendor or the Ecosystem may be rendered non-viable and dissolved without notice.

This whitepaper contains statements that are forward looking and may contain unknown risks

Statements in this whitepaper are based on current expectations of future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such state-ments. All of these forward-looking state-ments are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We therefore caution against placing substantial reliance on the forward-looking statements contained in this whitepaper

None of the statements or plans in this white-paper should be treated or read as a guaran-tee or promise of how Elo Network shall conduct its business and current plans outlined can change at the discretion of the Elo Network.

ExecutiveSummary 01

A mobile app that serves an on-vehicle advertising platform where brands and drivers come together for mutual benefits.

The drivers get an opportunity to earn cash that can be used to supplement their gas, parking, and car wash budgets while brands increase their target audience through outdoor advertising.

Drivers become ambassadors of their favorite brands and are willing to recommend the brand to receptive audiences.

Away from the conventional advertising methods, Elo.network opens a new possibility for brands to get higher reach and exposure through the new on-car sticker advertising.

Instead of paying for a hoarding or a billboard in the bussiest part of the city, the advertisers can put their ad on Elo.network users vehicles and get the maximum exposure.

03

Our mission is to disrupt and tokenize the out-of-home advertising industry.

ELO is a platform where brands and car owners come together for mutual benefits.

BRANDS CAR OWNERS

Elo.Network / Whitepaper

ELO.NETWORK

AD CA

MPAIGNS

CAMPAIGN ANALYTICS

BRAND

MarketOverview 02

04

Global Outdoor Advertising BudgetIn 2017

Number of Vehicle Owners

Number of Ad Campaigns

34Billion USD

1B+in the world

8M+in the world

Global Insights

Advertisement has existed as long as human history as commercial and political campaigns have been advertised in Pompeii, Arabia and Egypt among others, and it had been an integral part of human civilization for various reasons including the increased exposure of a company's product or brand to potential customers. For the recent few decades, the global advertising market has beengrowing steadily and reached a market cap valued over 550 billion dollars in 2017. Outdoor advertisements such as billboards, posters and transit displays generated more than 36 billion dollars in 2014, about 7% of the global advertising market and, according to a

market study by Technavio, it is projected to rise to 45 billion dollars by 2021. Transit adver-tising, the placement of advertisements on vehicles including buses, trains and cars, helps brands reach an audience of various ages, backgrounds and incomes. Transit ads are hard toignore and people tend to notice them espe-cially in traffic jams. Yet, it is still an underuti-lized advertising medium, with the U.S. Trans-portation ResearchBoard reporting only 1 billion dollars spent on transit advertisements in 2012 which consti-tutes whatever % of the global outdoor.

2.1 Ad Market Overview


MarketOverview 02

04Elo.Network / Whitepaper

Age Group

25 - 40years

2.2 Target Market User Persona

Problems faced in the market

Nationality

India / PakistanChina / Turkey

Avg. PriceGasoline/ litre

$4Annual carmaintenence

$200Loan installentsper annum

$230Tax paymentper annum

$230

Existing income generation solution and problemsusing a person’s car in the target market

Uber • The incentives were so great in the begin-ning and many people in countries like India and Pakistan left their jobs and started using Uber with the cars they bought with vehicle loans

• Most people have taken loans against vehicles in countries like India and Pakistan

• Users face issues with the centralized payment systems used by Uber

Problems &Opportunities 03

06

Car owners suffer from the ever increasing fuel prices and maintenance costs. These expenses have to be covered.

Gasoline price hike

Vehicle insurance

Tamperable analytics

Limited ad reach

Static location

Tax & tolls

Maintenance Vehicle loans

Car Owners

Brand Outdoor Ads

Brands use expensive billboards with static geolocation and limited outreach.


Mission 04


4.1 Our Goals

Our Ideology

Empower ordinary people to make money using thier existing resources by enabling wide scale blockchain adoption and uplift the sharing economy.

Enable audit and transparancy for brands

Enabling per/kilometer payments to the car owners

Trustless and automated payment system for car owners

Implementing tamper-proof analytics for brands by locking campaign funds to a smart contract

Providing travel profiles and vehicle specifications to the brands to create targeted advertising campaigns

Solve PainPoints 04


Car Owners Brands

Income generation

Earn per kilometer

Secured payments

Choice of ad campaigns

Park to earnP

Subsidize vehicle cost

Tamper proof ad analytics

Mobile ads

Geo ad campaigns

Heat map profiles

Choose type of carsfor ad campaigns

4.2 Elo.Network will allow

BRAND

Technology 05


STICKER Smart wallet

SMART CONTRACT

ELO PORTAL

ELO TOKENPOOL

TOKENHOLDER

ICOINVESTOR

USER CAR ELO APP

ELO GLOBAL SERVER

elo Tokenlocked

TUSDTransferred

burn elo tokenon termination

Drivers: 90,000$ELO: 10,000$

Elo client

CAR

BEACON

USER IDMH5640

ADVERTISER IDKH863459

CAMPAIGN #468

$ 100,000

KM 100,000

DRIVERS: 100

lOCATION: ISTANBUL

ACTIVATION LAYER

BURN ADDRESS

1. Trip detail2. Location3. Campaign

Buy Elo token toactivate the platform

Funded

Signal

Trigger userPayouts

Zero Knowledge Proof (ZK Snarks)

Off-Chain State Channel

5.1 Use of Blockchain

The Elo.network platform is built to match interested drivers and advertising brands for mutual benefit using two main components: a mobile application and a brand dashboard.

Vehicle owners are network participant who enter the platform by registering their vehicle and enter into a campaign by burning the necessary amount of Elo tokens to order stickers and start campaigns on the platform.

5.1.1 Vehicle OwnerAdvertisers are brands who participate in the network by setting campaigns for vehicle owners to complete. Erc-20 Stable coin currencies such as TrueUsd, Dai or others will be entered into the smart contract along with burning of necessary amount of Elo tokens to activate the campaigns and view campaign Kpis and Statistics

5.1.2 Advertiser

Technology 05


5.1.3 Elo PortalBrands first have to buy the Elo token to activate their accounts prior to the creation of any campaigns, the tokens are locked in the smart contract and are burned upon the termi-nation of the campaign. After activation, a brand can start a campaign first by establish-ing an insertion order, a contract-like commit-ment from the brand to pay for the campaign, and it is composed of (i) a campaign fund that is locked into the smart contract and used later by Elo.network to establish the mileage channels with drivers and pay them after-wards, (ii) a reference to the campaign and its specifications list that is stored in the Elo service, and (iii) a campaign duration after which all state channels should be terminated and drivers paid.Information about campaigns, including the advertisements included, the number of required drivers, the targeted miles needed to be traveled by drivers,the city of the campaign and other require-ments and metrics (like KPI, car model ..etc) , which are included in the specification list of the campaign, are used to match campaigns with the most appropriate potential drivers.

A campaign starts once it is registered on the Elo service and the campaign funds locked into the smart contract, just then a brand can review driver applications registered on the Elo service, and once the brand approves a potential driver, the Elo service establishes a

5.1.4 Elo ServiceOnce a driver joins a campaign, the Elo service establishes a state channel on behalf of a brand's campaign whose funds are locked in the smart contract between itself and the driver. When drivers are en route whilst on a campaign, the Elo service, being connected to the client, responds to mileage requests, which are simply the difference between the driver's current location and the last location reported, sent by the client and deciding whether it would send a signed message to the state channel to accumulate the driver's traveled miles that is later translat-ed into Dai tokens using the smart contract logic discussed in section X.

state channel with the driver for the duration of the campaign as stated in section X. The brand dashboard also shows statistics about total miles traveled by alldrivers in the campaign, that help brands track campaign progress and exposure. Drivers' journeys are monitored and statistics about their contribution to the campaign is assessed.

5.1.7 Smart ContractA smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. In the Case of the Elo Network smart contracts will be created for each campaign enabling a Trusted and immutable transfer of stable currency for campaign milestones comple-tion.

Technology 05


5.1.5 Global ServerDrivers can register the mobile application after activating their accounts by burning tokens through the smart contract, then are eligible to apply for campaigns to start earning cash; a list of potential campaigns, whose specifications list matches the driver's request specifications list, are retrieved from the Elo service to be displayed through the Elo client resembled in the driver mobile application.

5.1.6 Activation LayerElo Tokens will act as an activation layer currency unit within the Elo platform represent-ing a unit of access for digital services, features and enabling different levels as well as tiers of use on the platform.

Both Vehicle owners as well as Advertisers will need to either purchase tokens directly on the platform or purchase tokens on third party exchanges in order to activate the platform and use its features.

A channel of communication authenticated via ECDSA signed messages between two participants where a smart contract state is locked and is updated amongst them by exchanging signed transactions that could be submitted to the blockchain. Participants even-tually submit the most recent state back to the smart contract which closes the state channel and unlocks the state again.[1]

Technology 05


Settlement Overthe Blockchain

State Channel Transactions

Blockchain/ Smart Contracts

5.2 State Channel

(n)...

0.0001

0.0.2

0.0391

0.00029

0.00195

0.4071

Step 2

Person 1 Person 2

Lock StateStep 1Step 3

Technology


05Current Mileage

BRANDSDRIVER

Threshold Mileage

Previous Mileage

53.00 miles

50.00 miles

49.9 miles98

SmartContract

Threshold: 50.00 x (2)Bouns: 03.00x(2.25)(D

ai Co

ins)

State channels improve blockchain perfor-mance by executing state modifying opera-tions o fblockchain between a defined set of participants. An early application of state chan-nels was payment channel, which using off-chain transactions modified ownership of locked coins, thereby allowing users to make \off-chain payments".Traditionally, a state channel lets parties securely modify parts of the blockchain state called state deposits. These deposits are usually held in a multisig account, where the participants to the state channel are the signers of the multisig. Participants in the state channel can update deposits by exchanging

off-chain messages, which results in no trans-action fees until participants choose to close the channel. A main feature of state channels is that each message is cryptographically signed and the multisig contains code to verify these signatures and interpret these messages. To update the balance, both parties create a new spend from the multisig address; that places slightly tedious restric-tion on timestamping and dates; the problem of not knowing which spend is correct; the new spend or the older ones, but to solve this problem we need only two states: the current correct balance, and any old deprecated balances.

5.3 Off-Chain Mileage Channel

Technology


05In the case of Elo.Network, the platform uses a mileage channel, which is a type of a state channel designed specifically to support payments of drivers as per the insertion order of the advertised campaign; every ten seconds, the locationof the driver's car is updated and using Vincenty's formula the distance from the last checkpoint is calculated, and miles are regis-tered in the mileage channel, and only when the campaign is over, the driver gets to send a transaction to the Elo.Network smart contract with the most recent balance from the chan-

nel, the smart contract knows exactly how to pay the driver according to the insertion order commitment of a given campaign. This also gives an opportunity for the campaign to incentivize drivers more by offering bonuses if the miles are above a certain threshold, which obviously leads to more exposure of the cam-paign. It should be noted that the transaction fees of sending the last balance of the mileage channel to the smart contract is paid in Ethers, but in the likely case of a driver not owning any Ethers, a solution using master nodes is described in section X.X.

// The code of the smart contract and discussion should go here. function finalize Payment(bytes32 h, bytes32 v, bytes32 r, bytes32 s, uint value){address signer;bytes32 proof;//get signer from signature

signer = ecrecover(h, v , r , s);

require(signer == EloService && signer == tx.origin);

proof = sha3(this, value);

require(proof == h);

balance[tx.origin] = balance[tx.origin].add(value);

balance[EloService] = balance[EloService].sub(value);

Technology


055.4 Design Principles

5.4.1 A Hybrid Architecture:Combining the best of two worlds: centraliza-tion and decentralization should aim for a better experience for the users. The decentral-ized nature of some Elo.network subsystems should allow for trustlessness and transparen-cy, while centralization should provide the scalability and usability of the system.

5.4.3 TransaparencyThe platform should act with genuine integrity towards the users and in order to do so the history of all transactions on the Elo.network should be available and transparent, adding a level of accountability to the platform and the users.

users should not feel the need to trust any entities in the system, be it the platform or any other user, and the system should implement a highly trustless process in which all transactions occur seamlessly and smoothly.

5.4.3 Usability:A user should not need to worry about the complexities underneath the system, in fact, it should not be necessary for them to actually know the system is built using blockchain technology, yet benefit from the fact that it is. As a consequence, they should also not worry about risks of using cryptocurrencies includ-ing price volatility.

5.4.1 Trustlessness:

Elo Token Usage


066.1 Activation Unit

The Elo token will act as an activation currency unit on the Elo platform and represents an exchange medium for access to digital services, features and tiers to be activated enabling use of the platform

BRAND

Buys Elo tokens to activate Elo.network brand dashboard

Brand pays Elo tokensto do their ad campaigns

Elo.Network rewards the car ownerswith points for promoting the brand’s

ad which can be redeemed forfiat currency by the user

Buys Elo tokens to activateElo.network and choose

ads by brands and earn points

Elo.Network CAROWNERS

Brands

Elo.Network branddashboard activation

View ad analytics, trendsand behavioral patterns

Implement bonus campaignsand Hot Route activations

Real-time heat map andtravel profiling

Car Owners

Elo.Network userapplication activation

Order ad campaignstickers

Activate higher Tiers enabling participation in the ecosystem

Add and use multiple carsfor brand ad campaigns

6.4 GovernanceIt is also intended that upon reaching certain milestones of the project votes will be cast by token holders to signify a certain direction for business policies they would like the platform to take, such as the platforms ratio of buying tokens from exchange vs selling from its pool, number of tokens needed to activate campaign, lockup periods for Brands activating campaigns and other future uses in the interest and growth of the Elo network.

The use of Ethereum, Bitcoin and other cryptocurrencies do not directly provide such opportunities as those outlined for the use of Elo Token.

Elo Token Usage


066.2 IncentivizationTokens may also be used to incentivize certain actions by network participants such as tokens issued as a bonus for completing cam-paigns within an allotted time or for reaching a certain level during campaign gamification.

6.3 Fair PlayIncase an ecosystem player acts as a malicious actor or commits fraudulent actions the campaign smart contract enables tokens of the account holder to be frozen, deducted or burned unless an issue has been rectified or penalty has been completed.

Token Distribution


07Sales Tokens58%

Ambassodors2%

Foundation18%

Bounty1%

Team7%

Advisors7%

Founders7%

Token Sale

Sales Tokens58%

Team7%

Bounty1%

Foundation18%

Founders7%

Advisors7%

Ambassadors2%

Fund Distribution


07Development32%

Founders16%

BusinessDevelopment

12%Bounty2%

Contingency5%

Legal3%

Admin8%

Marketing 22%

Fund

Development32%

Marketing22%

Legal3%

Bounty2%

Founders16%

BusinessDevelopment12%

Contingency5%

Admin8%

f

t

Application &Dashboard Ui


08Driver Mobile App



08Brand Dashboard



08Brand Dashboard

Our Team


As Founder, Mohammad conceived the Elo Project and has been the driving force behind its development. Muhammad is a principal sponsor of Khamas Investments, owners and operators of an exclusive suite of 5 star hotels in the Middle Eastwith a capitalization of over US$ 10 Bn. Khamas Investments has been consistently ranked as a top 20 business group in the Middle East by Forbes and other internation-al publications.Mohammad spearheads strategic financial management for Khamas Investments and is also responsible for managing the strategic portfolio of assets for the Group.Mohammad has a undergraduate degree in finance from UAE and has attended various workshops designed for executive management

Mohammed Khamas

09Founder & CEO

A Digital Marketing Specialist and Serial Entrepeneur Mohammed Bafaqih specialis-es in creating solutions that maximize client ROI from Data Mining and Competitor analysis solutions that scaled to 11 countries - for Burger King and Texas Chicken to Pharmaceutical Marketing where he orchestrated a Digital OOH Hospital Network spanning 118 hospitals in the UAE for brands such as Pharmaton , Unilever and Mars Corporation.Mohammed has Secured , Managed and Retained some of the largest corporation's and negotiated country wide sponsored events with Governmental institutions in the UAE

Mohammed BafaqihFounder & Director Operations

Asif is a senior ICT consultant with 12+ years of international experience in designing, deploying and managing variety of network and telecom solutions for several ISPs, opera-tors and last enterprises. Asif is a Dual Cisco Certified Internetworking Expert (CCIEx2), Network technologist by profession, Blockchain enthusiast by nature.

Asif GulFounding Member & Director Services

A digital anthropologist who has been closely following the world of cryptocurren-cies since 2017. He has been somewhat of a crypto-evangelist, trying to educate more people on the exciting realm of cryptocur-rency. During his time at Nottingham Univer-sity UK, his Master's dissertation focused on 'Dynamic Hedging Techniques for a portfo-lio of equity derivatives under Continuous and Jump Diffusion Processes using Black Scholes and Monte Carlo simulation.

Zeeshan PatelFounding Member & Blockchain Architect


Our Team 09An entrepreneur and an internationally acknowledged professional on Governance and Management of Strategic Initiatives. Dr. Khan is an award-winning strategist with almost two decades of leadership success, and a career that has driven multi-million dollar projects for various clients in Middle East, ASEAN and Pakistan.

Ehsaan KhanCheif Technology Officer

Haider has spent the last 16 years in Emerg-ing Markets across GCC and Asia Pacific, delivering challenging roles at Global Financial Services Institutions, including DIB Investment Banking, EY, Macquarie, KPMG Corporate Finance and Citigroup. He has led high performance teams on M&A, fund raising and strategy deals since 2002 and has worked on deals over US$ 5BN.

Haider AnsariCheif Financial Officer

Charlie’s full career has been managing in Product Development ( including research, design and manufacturing ). Retail and Trade (Global B2B and B2C markets), and Consulting (management and financial) in his 19 years of experience for taiwan Government, LG electronics, Iriver, Freudenberg etc.He is motivator and optimist within common sense spectrum and graduated from the Boilermakers.

Chalie H ShinAdvisor

Our Advisors


Hans is currently serving as Director of Dtec, the largest technology entrepreneur centre of its kind in the Middle East housing 760 Tech start-ups, from 69 nations in addition to hosting incubators, labs and accelerators. He has 25+ years’ experience in building up departments in large organizations and starting compa-nies in South America, Europe and the UAE. He is a frequent speaker on Entrepre-neurship, Blockchain and AI technology and a judge at business plan competitions. He has successfully attracted venture capital and run as CEO several start-ups and held important global positions in large IT and financial institutions. Hans, holds a BA in Economics and Finance from Bentley University, and an EMBA from Hult International Business School.

Hans Henrik Christensen

09Advisor

With over 30 years of ICT experience, covering, C level on Cloud Computing, Managed Services, managed security services, business continuity, and disaster recovery as well as governance, risk management, compliance, auditing, certification. Served sectors include oil & gas, banking, financial, telecom, govern-ment, defence, healthcare, and education. Created the process A6 of security: Assess, Architect, Apply, Administer, Awareness & Agility. He architects practical & business focused solutions using standards & industry best practices.

Jorge SebastiaoAdvisor

Recognised as a thought leader in emergent technology (Blockchain, AI, Machine Learning, VR/AR), intrapreneurship, online media and navigating digital disruption and by working with authenticity, purpose and drive, Sally delivers sustainable business success, educational development and social impact outcomes.

Sally EavesAdvisor

Our Advisors


09Sung has 8+ years of experience in management consulting industry at various notable firms including Bain & Company, Accenture and Ernest & Young, where he practiced and executed many vital projects like corporate business strategy develop-ment, process improvement and digital transformation.He then moved to the real field of investment at a local Korean private equity fund where he served as an investment director and led multiple due diligence projects for M&A deals. His position at PEF also involved with business development, cross-border expansion, turnaround, and exit strategies.From 2018 Sung joined TODAQ as Vice President - overseeing GCC/ APAC/ NEAregions. His mission is to create strategic partnerships with both public and private sectors, and drive development for scalable platform and solution products using the next generation blockchain technology: the TODA protocol.

Sungsoo ParkAdvisor

In 2005, Hassan was recognized for his performance as the #1 ranked signals Captain in the Army and promoted to Major His service culminated in him leading all the IT and telecommunications support for the Canadian Forces trades training and directing technology policy for the Army, Navy and Airforce in central Canada.After that Hassan joined McKinsey & Company. He served the leadership of emerging market companies and countries achieve growth in thier technology related sectors, and developed investment strategies for institutional investors focused on innovative SMEs in these markets. Hassan’s work also covered multi-billion dollar objectives for Fortune 100 clients across business and investment strategy, strategic technology partnerships, capital governance optimization, aswell as lean IT and operations transformations. He was fortunate enogh to help corporate leaders stepchange their business with new technology disruptors (Big Data, Cloud) across high-tech, telecom, finance, healthcare, defense, and natural resources sectors in over 15 countries and 50 cities.

Hassan KhanAdvisor

Roadmap


10Q1 17

Q2 17

Idea originated by foundersConcept Validation

Market Research

Q3 17MVP Developed

Q2 18Elo Apps TestingInitial Press Coverage

Q4 18Office Setup InitiationSeed FundingPrivate Presale

Q2 19ELO Operational in 2 Countries ELO Mainnet Brand Dashboard Launch Token DistributionExchange Listing in Top 10 Exchanges

Q4 19ELO Main Blockchain Launch

Hiring Core Team

Q1 18First Event Done

Brand MOUs SignedElo iOS/ Android Apps Released

Q4 17Blockchain implementation mapping beacon integration testing

Q3 18 Elo Smart contract Beta

Advisors on boarded 3Whitepaper release

Elo dashboard releasedSticker prototype buildBrands testing of MVP

Q1 19Public Sale

ELO Main net Application Launch

Q3 19ELO Operational in 2 More Countries

Documents

Elo whitepaper 14 Final · global advertising market has been growing steadily and reached a market cap valued over 550 billion dollars in 2017. Outdoor advertisements such as billboards,