FFQuest: Designing the Future of Car Rental

“The secret of change is to focus all your energy not on fighting the old but on building the new.”

2018

Socrates

Whitepaper

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TABLE OF CONTENTS

I. Executive Summary 2

II. Industry overview 4

III. How Blockchain Can Transform the Industry and the Power of the

Distributed FFQ Ledger? 9

IV. The Distributed FFQ Ledger and the FFQ Token 12

What exactly is the FFQ token? 14

How does the FFQ token work? 15

What is the value proposition of the FFQ token? 15

The importance of tokenization 16

V. The Marketplace 16

VI. Business Model and Project Phases 18

VII. Solution 24

VIII. Customer Acquisition 26

IX. Token Generation Event 27

Token Highlights 27

Token distribution 28

Token Sale 28

X. Roadmap 31

XI. Team and Advisors 32

XII. Legal Notice 37

XIII. GDPR, KYC, AML 42

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I. Executive Summary

FFQuest is the first of its kind ecosystem, designed to unite the car and parking space rental

business lines (or sectors) by adopting the cutting-edge technology of blockchain and

revolutionizing the industry of online mobility rentals. By building a Decentralized, open source

digital environment based on the freemium model, FFQuest will enable automobile owners,

space owners and end-customers to enter into direct commercial transactions and to exchange

value free of additional charges and middlemen. Without fees, commissions or other traditionally

incurred costs, the supply and demand of the mobility services will use the potential of the robust

blockchain automation model in order for all participants to benefit from the better price

formation.

The Decentralized system will hold the FFQ Rental Ledger (Distributed FFQ Ledger). This is the

primary tool that will govern all details of the transactions between car companies (both

independent providers and large franchises), car drivers, space owners and customers. It will

function by using the utility token called FFQ. The web portal FFQuest.com will act as the one-

stop marketplace that will offer at its final stage, a superior user experience and easy access to

wide variety of mobility services.

FFQuest ultimate goal is to create a unified global portal – FFQuest.com – that will address the

entire range of all participants needs and provide them with numerous advantages.

Blockchain is found to be the appealing solution to the problems with intermediation,

transparency, security and incorruptibility, ensured by the cryptographic signatures and

encryption, and the decentralized consensus of the distributed ledger technology.

Unlike existing centralized platforms, where additional fees amount to anything between 20-70%,

FFQuest will preserve the distributed nature of all deals and listings. The final result will be

eliminating intermediaries, safeguarding transaction transparency and ensuring fair pricing. At

the same time, it will offer equal business opportunities for smaller rent-a-car companies, as well

as franchise, regional or multinational rental providers. Increased customer satisfaction and

reduced fleet downtime will provide opportunities for the more competitive offers to break

through.

For automobile and parking space owners the seamless integration between the FFQuest.com

marketplace and the Distributed FFQ Ledger creates an entirely independent and extremely

potent ecosystem, capable of challenging and outperforming the top service providers in the

$276 billion global mobility market1.

_________________________________________________________________________________ 1. MarketsandMarkets report “Global Mobility on Demand” 2017-2025

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They will have at their disposal a convenient and easy-to-use interface to operate their listings on

the Distributed FFQ Ledger, built on the Ethereum Virtual Machine (Ethereum VM).

By employing blockchain, FFQuest will eliminate the disadvantages of traditional car rental

portals and dependencies on OTAs, GDSs and many more. Thus owners will have the means to

access new markets and explore enhanced business opportunities.

End-customers will be able to save money by choosing from authentically priced offers on a free

and fair market, avoiding hidden surcharges in binding conditions. Zero commission rates, which

are a prerogative of the Decentralized FFQ System, will guarantee the lowest possible prices. This

is solely achievable in a milieu where end-customers and providers deal directly with each other.

Society at large will benefit from a revolutionized blockchain model that has the potential to

transform industries, enhance supply and change customer experience on a global level. In a

market where middlemen take 20-70% of the deal and reputation management is a challenge,

bringing the value back to customers and providers holds the power to revitalize businesses and

deliver the premises for supreme customer satisfaction.

The demand for the FFQ utility token – the fuel of FFQuest – will increase over time as the

ecosystem enlarges and integration with other platforms occurs. Furthermore, the Decentralized

FFQ System will be open source and free-to-use. Thus, it will enable other startups and

enterprises to follow the example and foster positive new models across this and other related

industries.

Regardless of temporal and speculative market fluctuations, the interest as a whole for

blockchain technologies and in token based models is increasing. The future is already visible and

it can provide new and more competitive services, reduced time and cost of transactions costs,

revenue and security improvements, or in brief, all the features of a disruptive business model.

As the blockchain tokens are used to develop decentralized marketplaces and establish direct

connections between supply and demand, the transaction processing is under development and

its spread is expected to continue to remove 3rd party middlemen.

Recent crypto market research shows that the total market cap of all

cryptocurrencies is $202 billion (CMC actual information of the time of

writing this White Paper). Although it has fallen almost 5 times during the

last 6 months, and most probably many crypto projects will fail in the near

future, we strongly believe that we are just at the beginning of the journey.

For projects with clear vision, strong technical expertise and sustainable

efforts for reaching their goals this is the right time to be pioneers in setting

the new foundations.

$4 trillion market

capitalization of

asset-backed

tokens by 2025

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In one way or another, cryptocurrency adoption rate is expected to be as high as that of cell

phones as a result of the advantages gained through the progress of blockchain development and

uptake.

On top of the nature of the growing new generations and the potential of the coming blockchain

smartphones with 5G mobile connectivity, altogether the crypto penetration is foreseen to

exceed 5% of the world’s population by 2025, with projected total capitalization of $5 trillion.2

II. Industry Overview

The car rental and car-sharing industry is driven by increasing demand as a result of enlarged

population mobility and development of the travel & tourism industry in terms of both outbound

and domestic travelers. In addition, the global rise in income disposability combined with an

enhancement in road infrastructure are also regarded to be key factors in boosting the number

of business and leisure trips, thereby leading to industry growth. Increased demand has been a

fruitful ground for the emergence and development of new business models such as P2P car

sharing (car2go, Maveb, ZipCar and other).

Forecasts on industry figures are booming. The mobility-on-demand market amounted to $65

billion in 2017 and is projected to grow at a CAGR of 19.8% to reach $276 billion by 2025. (Source:

Markets&Markets)

MOBILITY GLOBAL MARKET ON DEMAND, 2017 vs 2025 (USD BILLION)

Both rent-a-car and car sharing segments of the global mobility on demand market are expected to grow in the coming years.

_________________________________________________________________________________ 2. LAT Crypto Research 2017

The projected expansion is driven by a

combination of business, technological and

societal factors, as both companies and

individuals demonstrate increased

sustainability awareness, and the constantly

growing IT sector offers new and more

powerful solutions progressively.

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CAR RENTAL, MOBILITY ON DEMAND MARKET SIZE, BY REGION, 2015–2025

(USD MILLION)

The global car rental market was evaluated at 2.8 billion USD in 2017 is facing a projected worth of approximately 9.1 billion USD in 2025 growing at a CAGR of 15.58% (Source: Markets&Markets).

CAR SHARING MARKET: MOBILITY ON DEMAND MARKET SIZE, BY REGION,

2015–2025 (USD BILLION)

The segment of car sharing was evaluated at $8.13 billion in 2017 and is facing a projected worth of $36.43 billion in 2025, showing a growth at a CAGR of 20.63% (Source: Markets&Markets). Following the expected growth potential it is no wonder that the model is deemed very attractive as demonstrated in recent years by the San Francisco-based startup Turo. As of this moment, the

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P2P operator attracted more than 5 million subscribers and received $92 million in funding from the automotive corporation Daimler AG (company’s valuation as of 2018 is more than $700 million3). Another entirely-owned subsidiary of the German concern, car2go, is also enjoying considerable success. In the U.S. automotive giant General Motors is catching up with its European competitors by launching a new P2P car rental service under GM’s Maven mobility sub-brand. Through the latter, GM automobile owners will be able to list their vehicles on the platform for short-term rental when not in use. An important signal for the foreseen potential of the ride- and car-sharing sub-segment is also the latest investment by SoftBank Corp. into Getaround. The Japanese internet giant lead a $300 million funding round making the San Francisco based car-sharing company valued at $800 million and proving the interest in the next-generation car use services4. Big car hire names are also exploring their opportunities in this sector, further evidence that car sharing is facing a bright future.

P2P CAR SHARING: CAR SHARING MARKET SIZE, BY REGION, 2015–2025 (USD

BILLION)

McKinsey’s 2017 consumer survey indicates shared mobility should see further growth. An

estimated 63% of people currently using non-taxi ride-hailing services expect to increase their

usage “a lot” in the next two years, and even more (67%) say they will do the same concerning

car sharing5.

_________________________________________________________________________________________________________________________

3. www.bloomberg.com/news/articles/2018-03-13/gm-is-said-to-plan-airbnb-like-service-for-sharing-your-wheels 4. www.bloomberg.com/news/articles/2018-08-21/softbank-invests-in-another-ride-sharing-startup-getaround 5. Source: Report How shared mobility will change the automotive industry | McKinsey & Company

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Although the global rent-a-car industry may be rapidly expanding, in fact it offers limited

opportunity to participants. The reason behind this paradox lurks in the existing commercial

model based on a centralized online system where a mediator is orchestrating the relations

between service providers and clients and ensuring the dominance of the biggest OTAs and GDSs

such as Priceline, Expedia, Amadeus, Sabre, Travelport, Cartrawler and their endless network of

subsidiaries and related companies. Thus, all parties are dependent on an intermediary defining

conditions and charging high fees for giving them the opportunity to operate their business on

the existing ecosystem.

Existing model

Centralized online car rental platforms threaten the best interest of both service providers and

end-customers by applying exceptionally high commission fees varying between 20-70%, thus

corrupting the fair market model.

These additional expenses are incurred by the existence of a variety of middlemen that enable

the performance of the transactions. All costs are accrued at the expense of both hosts and

guests. Standard transaction fees include:

fees for providing platform services;

fees charged for managing financial transactions;

currency conversion fees;

By virtue of occupying different vertical levels in the online supply chain, market leaders are

able to add markups and additional fees at their own discretion, thus increasing the cost at each

level.

Dominance-led approaches increase prices for all users and corrupt the marketplace by creating inefficiency and obscuring transparency. Furthermore, the current situation prevents nascent companies from entering the marketplace and suppresses innovation and market vitality.

FFQuest aims to address existing industry problems by using blockchain technology. This means providing a viable solution that is independent, validated and trustless6 that will eliminate the use of middlemen and commission fees. Apart from those already mentioned, the industry is facing a number of other significant challenges leading to reduced customer satisfaction, lack of trust in car rental companies, all resulting in revenue and profit decrease. Blockchain technology can present a powerful solution to resolve most of problems, giving to all participants better opportunity to advance in free and fair market dynamics.

In a marketplace suffocated from excessive middlemen surcharges there are many limitations that final customers face such as:

____________________________________________________________________________________________________________ 6. Trustless – does not rely on a trust in a central authority or on the relationship for trust, but only on a secure mathematical peer-to-peer connection where the trust is created by a cryptographic key held by the peers.

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Incorporating hidden clauses that deteriorate the quality of intermediary services;

Charging only a partial and unreal amount of the actual price which leads to an additional

required payment by customers onsite;

Causing insurance implications such as artificially inflated insurance costs and

incorporating faulty clauses. As a rule, rent-a-car companies themselves deny portal-

offered insurance, often resulting in double insurance spending;

Need for one or more credit cards to block a high amount for deposit;

Delay in deposit release (up to 60 days);

Poor service quality during peak seasons, hours of desk delays for picking up a car;

Arbitrary replacement of a booked vehicle with a vehicle from a similar class but from a

cheaper brand, older and/or in a worse condition;

Complementary mandatory fees for mileage, winter tires, child car seats, winter chains,

second driver, driver’s age, border crossings, etc.;

Unjustified additional billing upon car return for fuel, late leave, car damages, etc.;

Unfair treatment of smaller providers when partnering

with traditional portals as a result of malicious market

behavior;

Limited brand visibility for independent providers;

Delay in payment release to rent-a-car companies after

services have been provided (up to 90 days);

Paradoxically, it turns out that end-customers have to undergo a threefold payment process. In order to rent a single vehicle clients have to pay once through a web portal upon booking, then pay additionally at the rent-a-car and finally to expect charges upon returning the car. Hence, both service providers and travellers suffer from the distorted market model of OTAs and GDSs, where the only winners are intermediaries themselves. Monopolistic practices and unfair customer treatment corrode the models of a healthy global car rental market that abides by high standards in business and ethics.

Decentralization Leads Market

Revolution

Bitcoin’s start in 2009 spearheaded the rise of a new paradigm that encouraged decentralization through the introduction of distributed open ledgers. Bitcoin succeeded in showing the world that maintaining the outdated model of centralized banks was no longer the only solution. The decentralization movement truly gained force in 2015 thanks to the launch of the Ethereum Blockchain and the introduction of smart contracts. Developers were given the tools to create “dApps” – a new type of decentralized applications. The most important effect of dApps is the possibility to eliminate the need for centralized middlemen. This is made possible by harnessing the power of the blockchain to provide secure and trustless asset transfer within the Ethereum network.

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However, all of this is possible to change.

III. HOW BLOCKCHAIN CAN TRANSFORM THE INDUSTRY AND THE POWER OF THE DISTRIBUTED FFQ

LEDGER

The growing power of blockchain solutions is revolutionizing markets at all levels by virtue of their capability to remove middlemen and promote integrity and cost-effectiveness. Enhancing collaboration and creating value for all participants in an ecosystem, in the conditions of a secure, transparent and trustless environment, are among the primary attributes of blockchain. In addition, they promote efficient and merit-based business interactions and defy monopolism by supporting local economies to advance diversity in increasingly globalized markets. Blockchain technology offers numerous benefits for all concerned parties, including:

Affordable data exchange;

Utmost security;

Undisputable information validity;

Complete transparency;

More precisely, what are some of the benefits of a blockchain-based ride and parking space-sharing ecosystem over those of the current market giants?

Current industry paradigm

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Benefits and use cases are:

Intermediaries are entirely removed, resulting in significant cost reduction and final price

comparison;

Providers can objectively take decisions on pricing based only on supply-demand forces;

The ecosystem will work with a specific token (the FFQ token) and users will be rewarded

with it according to their platform merits (enrolling other drivers, completing more trips,

etc.);

Platform will develop and expands since the demand and the usage of its native token will

rise when the number of transactions increases;

Building of reliable and secured online reputations will be facilitated to the benefit of both

providers and customers, as their identities will be authenticated over the blockchain;

All participants in the ecosystem can take advantage of the authentic value of the services

they provide or use;

Endorsing blockchain as the underlying technology of a project with the scope of FFQuest carries tremendous value for end-customers and local businesses alike. Even global tech leaders such as IBM endorse the disruptive power that removing an intermediary can have on already-stagnant sharing economy companies like Airbnb, Uber, eBay, etc. “Nearly all the big OEMs are experimenting with investments in car sharing, ride sharing and ride hailing schemes,” reads a post7 on the IBM Internet of Things blog.

DRIVING PROGRESS IN THE CAR RENTAL WORLD

FFQuest will employ the potent powers of blockchain to disrupt the faulty practices existing in the global car rental industry. It is also important to stress the fact that this will happen in a seamless technological environment, while providing a high quality user experience which will by far surpass that of the conventional virtual space. By destroying the dominance-led approach and creating a common marketplace, FFQuest will bring back the power to service providers and customers. They will benefit from an efficient and transparent interaction combined with significantly reduced or even eliminated counterparty risk. Customers will have a clean and simple way to choose from a list of vehicles and pay rent, while being able to observe immediately what they are being charged for.

_________________________________________________________________________________7.Source: www.ibm.com/blogs/internet-of-things/the-rise-of-blockchain-for-automotive-mobility-services/

Why Is It Important to Support Local

Businesses?

As technological advancements have skyrocketed global corporations, the need to back local businesses grows stronger by the day. The benefits from doing so are various. Local businesses improve the local economy by sustaining employment and keeping wealth within the community. They nurture the uniqueness of local spirit and often provide better and more personalized services. Resident entrepreneurs tend to demonstrate high local involvement and invest back in the community.

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Independent rent-a-car providers as well as some of the global franchise subsidiaries will receive a well-timed opportunity to access the global market directly. Currently, such businesses are hardly able to partner with conventional portals. When they do, partnerships happen under very questionable terms dictated by unfair monopolistic practices. Single players are paying the same or much bigger commissions as bigger providers while they receive far less visibility. In reality, traditional portals offer both market leaders and local providers the same conditions, but in practice they overcharge the latter, thus giving the former unfair advantages and supporting inflated market prices.

We will resolve:

End-users

Hidden charges

Additional payment "on the desk"

Inflated insurance cost

Limited choice of listings

No guarantee of the choice made during the booking

Unclear biding conditions

Delay in booking confirmation

Waiting on the desk

Huge delay in deposit release

Local & independent services' providers

High fees for getting listed on portals

Less visibility compared to big players

Pressure from monopolists

Poor reputation management

Delay in payments

Customers' dissatisfaction

Negative reviews

Fleet downtime

End-users

All listings visible real-time

All price components included at the time of booking

Final price charged upon booking

Smaller deposit

Faster deposit release

Take-what-you-ordered

Clear and visible conditions at the time of booking

Instant booking confirmation

Local & Independent services providers

Equal access to the portal

Equal visibility on the marketplace and possibility for brand promotion

No dependency on monopolists

Identity transparency, possibility to give & receive feedback

PROBLEMS SOLUTIONS

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Blockchain will allow immediate token transfer, thereby facilitating payment for all parties, eliminating bureaucracy and payment settlements slow-downs, making value transfers automated and secured. Under the terms of traditional portals, customers equally suffer and are subject to implications. They are kept from making decisions based on verified feedback from other users (unmodified

positive or negative opinions). At the same time independent rent-a-car companies are deprived of the ability to evaluate objectively their first time customers or to promote their brand adequately. Reputation management issues are also a primary concern that can be eliminated by employing the power of blockchain technology. “Beyond establishing trust, blockchain makes it possible to share information selectively with others to exchange assets safely and efficiently and—perhaps most promisingly—to proffer digital contracts. This transforms reputation into a manageable attribute that can be baked into each individual’s or organization’s interactions with others,” states an article on 2017 Tech Trends8 published by Deloitte Insights. As already discussed, most big car hire portals offer poor quality service, which results in predominantly negative feedback and a very low customer satisfaction. Furthermore, the market has suffered severe turbulence such as the 2017 bankruptcy of a major player, Atlas Choice, that caused serious losses for both customers and providers, demonstrating the disadvantages of the current business model. The failure of the UK car hire broker left clients and suppliers over $40 million out of pocket. In contrast, blockchain smart contracts minimize such risk by eliminating middlemen. They simplify and provide complete

transparency of the entire interaction between customers and companies. Both are aware of the opposite party’s actions and possess all the information necessary to validate their options. There is no third party that interferes and controls their agreement, financial resources and money transfers.

IV. THE DISTRIBUTED FFQ LEDGER AND THE FFQ TOKEN

The Distributed FFQ Ledger is the engine that governs all relationships and operations between car rental providers and end-customers within the FFQuest.com ecosystem. It is built on the Ethereum VM and uses smart contracts to regulate all transactions. The Distributed FFQ Ledger will keep a record of all transactions and will regulate their execution through client/host driven smart contract triggers.

_________________________________________________________________________________8. Source: www2.deloitte.com/insights/us/en/focus/tech-trends/2017/blockchain-trust-economy.html

The Unified Free and Fair

Marketplace

FFQuest offers a progressive alternative to traditional car and parking space rental: one stop free and fair marketplace that serves in the best interest of all participants by reducing costs and eliminating malevolent practices. All constituents of the FFQuest ecosystem – rent-a-car companies, car and parking space owners, drivers and clients – will benefit by removing middlemen from the current business paradigm. Such action, together with making all relevant information shared and readily available, will result in cutting costs and establishing efficiency, transparency and trust.

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The FFQ token is a token produced on the Ethereum Blockchain platform that will be integrated into FFQuest. It will function as the fuel of the FFQuest.com ecosystem and its circulatory mechanism. The FFQ token will allow access to the Distributed FFQ Ledger for all concerned parties.

The FFQ Ledger will operate solely with the native FFQ token. At the same time, it will possess the flexibility to offer integration to external exchanges or to allow converting different currencies through a respective algorithm. Thus, any application that wishes to connect to the Ledger will be able to support additional payment methods, which can afterwards be converted into FFQ tokens as a renting deal takes place.

FFQuest model

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The FFQ Ledger will also run a variety of decentralized and distributed operations, some of which would include:

Rental request placement

Rental confirmation policy

Deposit holding, release and withholding and refunding

Dispute trigger and dispute terms

Optional history/reputation requirement for customer/provider

Another important aspect of the FFQ Ledger will be its free and open source nature. In this manner, the more car rental websites connect to the FFQ engine, the higher the adoption of the FFQ token, hence its increase in demand. Through this approach, we aim to change the car rental industry, establishing a new standard in the global car rental business, an innovation based entirely on the FFQ token. The FFQ Token will provide all participants with the ability to use the full scope of services and products within the FFQuest.com Decentralized system, like:

access to all car/parking space listings

make booking

make payments

receive discounts and rewards

transfer between fiat currency /other coins and FFQ token

access to clients/providers ratings

The FFQ token will provide companies with numerous advantages for optimizing revenue and sustaining value. Providers will be able to decrease, or altogether avoid, credit card commission (currently between 1-3%) and other bank fees. The FFQ token will also ensure more financial flexibility and offer direct opportunities for acquiring crypto assets.

WHAT EXACTLY IS THE FFQ TOKEN?

The FFQ token is a digital utility product. FFQ token holders can use it to access all FFQuest services and products integrated with the platform. The FFQ token will secure easy and automated transactions within the ecosystem, guaranteeing high utilization and demand. The FFQ token will serve as the primary exchange tool between vehicle and ride providers and car rental seekers. Providers will be able to withdraw tokens upon their convenience. FFQ tokens do not have an expiration date and token holders can use or transfer them at their own discretion.

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HOW DOES THE FFQ TOKEN WORK? FFQuest users who purchased any FFQ tokens will receive them in their wallets after the end of the token sale discussed in Section IX: Token Generation Event. Token holders can then use the respective credits to take advantage of any of the services, products and features of FFQuest, as they become available according to the FFQuest Roadmap discussed in Section X.

FFQuest users will also be rewarded with tokens upon performing certain actions that contribute in value to the ecosystem. Such examples may include referring new users and/or providing reviews.

WHAT IS THE VALUE PROPOSITION OF THE FFQ TOKEN? Transparency and trust The transfer of the FFQ token from one user to another is easily verified, as:

all FFQuest transactions exist in the blockchain, which guarantees their transparency;

all transactions within the FFQuest platform are managed by unchangeable smart

contracts;

user behavior is verified effortlessly due to the platform’s transparent nature;

Therefore loyalty programs and merit-based reward systems can be easily created.

No commissions & cut-rate transactions The FFQ token allows the exchange of services and products between clients and providers without intermediary commissions and at lower rates than traditional banking. Reliability The Ethereum Blockchain serves as a secure and sustainable economic basis which allows clients to perform reliable purchases. Growing Token demand FFQuest is an open source global platform available to anyone to plug in and avoid middlemen which will increase the FFQ token popularity. Together with the integrated possibility for fiat and other cryptocurrencies conversion will result in progressive FFQ Token adoption. Based on the large variety of functionalities and simplicity of use of the FFQ token, as well as the projected partnerships with an advanced travel platform and other forerunners of the blockchain industry, high demand for the FFQ token is anticipated since the very start of the TGE discussed in Section IX: Token Generation Event.

____________________________________________________________________________________________________________9.Source: article “Tokens for personal mobility“ – IBV

Utility tokens are like credits that

enable owners to consume services

within a system. For example, a

ride-sharing service provider might

issue utility tokens that enable it to

fund the provisioning of the

service. The buyers of the token

then consume the ride-sharing

services over time. Token holders

would be able to use the utility

token to pay for rides or sell the

tokens if they don’t want to hold

onto them. The token’s purpose in

this instance is to improve the ease

with which ride-share services are

provided and to enable token

buyers to consume rides.9

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While the use of FFQ utility tokens will not be obligatory for clients, the FFQuest.com marketplace will possess a built-in algorithm to convert alternative payment methods into the FFQ token. This will allow the use of all traditional payment methods such as credit cards, PayPal, etc. as well as cryptocurrency transfers with Bitcoins and Ethers. FFQuest.com users will be able to purchase the FFQ utility token remotely without needing to exit from the FFQuest.com marketplace for currency conversions. In this manner, holders will have the flexibility and will enjoy the benefits of growing use and penetration over time. FFQ token popularization is foreseen to be expanding, as the Distributed FFQ Ledger will be open to all services providers who wish to join the global intermediaries-free ecosystem. Such an approach with some additional services will enable a multitude of emerging car rental websites to reduce expenses for design and development, SEO optimization and front and back-end technologies. This will allow providers to offer more competitive customer rates that will result in the additional utilization and circulation of the FFQ utility token.

THE IMPORTANCE OF TOKENIZATION The FFQ utility token will also employ the potency of cryptocurrency and blockchain technology to establish a new and truly just order in the industry of mobility. This transformation will bring fair pricing, transparency and competitive power to a market suffering from malevolent practices. Blockchain creates an environment that can accommodate affordable, easy, safe and non-disputable transfer and storage of information. One of the greatest assets of the FFQ Ledger is its distributed nature, providing constant self–revalidation. The information inside is impossible to be manipulated, hence eliminating the need of further sizable maintenance and security expenses.

V. THE MARKETPLACE

The Distributed FFQ Ledger will introduce a genuinely new and enhanced way of connecting providers and end-customers. Therefore, to create an entirely self-sustainable ecosystem, it is of critical importance to build a fully functional and easy-to-use marketplace to serve as a front-end and additional layer to the back-end Distributed FFQ Ledger. In this manner, any dependency on external forces will be removed and the ecosystem will be able to fulfill its autonomous and stable character. As a marketplace built predominantly using blockchain technology, FFQuest.com will address all major online car rental issues discussed above. Not only will it provide practical solutions to the industry’s most pressing concerns but it will also boost business opportunities for competitive providers offering high-grade customer experience solutions. In its essence, FFQuest.com will be the main arena where customers and providers will meet to interact within the dynamics of a new generation online rent-a-car environment. The benefits to everyone involved in this process are clear-cut.

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Besides the major aspect of removing middlemen, FFQuest.com will also offer a great deal of other blockchain-related advantages:

1) Safeguarding the interests of fair providers - a major advancement and a decisive blow

on monopolistic market conditions.

Until now, traditional portals and credit card issuers have been primarily focused on

protecting end-customers and market dominants, allowing fair companies to suffer unfair

treatment. Such examples constitute, for instance, the cases of unwarranted chargebacks,

where fraudulent clients manage to recover deposit funds rightfully withheld for rental

damages.

2) Referral program consisting of 1% fee due for referring clients to foreign companies in

the FFQ ecosystem.

Additionally, fair competition and equal access to clients will give providers the

opportunity to optimize their wholesale and corporate package offerings.

3) Revenue optimization during peak seasons.

Currently they choose to skip such opportunities in order to avoid commissions.

4) Reduced fleet downtime.

Wide adoption of the FFQuest.com platform will give the rent-a-car providers an

opportunity to rent out vehicles for short periods, based on the car-sharing principle. The

platform will be accessed by all type of car and drive seekers – either looking to rent a car

or just to share a ride.

5) Customer satisfaction increase.

By using the FFQuest.com portal, car rental companies will be enabled to provide clear

listings containing all details combined with the final price of their offers. Thus clients will

enjoy the ease to select the right option, plan correctly their car rental budget, go and just

pick-up the chosen car without spending additional time on the desk.

At FFQuest.com, customers will also have considerable advantages that are currently unavailable at traditional portals:

1) Possibility to compensative charges in case of provider-initiated cancellation. In contrast,

big portals presently only charge penalties for customer-initiated cancellation.

2) One-stop-shop for all available services and products, including insurances – one of the

major differentiators for clients at the decision-making moment. Currently, rent-a-car

companies abstain from publishing a large part of their additional services on traditional

portals and sell those services on the spot. This is how they manage to compensate the

unrealistically low rates that large portals force them to offer.

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3) Full prices shown at the time of booking. Within the existing model many additional

charges are not shown or hidden in the small print. Clients are unpleasantly surprised at

the moment they go to pick-up the car without having the possibility to re-negotiate or

reject the charges. Most often not mentioned charges/ fees are for additional driver,

younger driver fee, child seat, cross –border fees, “late” return fee, road and

administrative taxes, fuel load.

4) Reduced time on the spot. Clients will just take the booked vehicle and enjoy their

journey as the deal for the rental has been finalized during the reservation made though

the portal. FFQuest.com comes to transform the traditional market and offer an

alternative to questionable business approaches. By giving providers the opportunity to

list their authentic offers, unburdened by middlemen-incurred additional charges, along

with the complete roll of their additional services, FFQuest.com strikes a twofold purpose:

companies will gain greater business prospects while clients will truly get what they pay

for.

5) Ultimately, even car dealers will receive the opportunity to access end-customers at

FFQuest.com. Currently, most of the car dealers that are developing new income channels

are giving the rights of vehicle use to the rent-a-car companies. Shorter routes to market

approach will result in breaking flawed vehicle subletting patterns and eliminating

another channel for price inflation.

VI. BUSINESS MODEL AND PROJECT PHASES

Developing the Distributed FFQ Ledger as well as the FFQuest.com Decentralized ecosystem is a complex, multi-level task. However, the business model behind the endeavor is clear-cut and efficient. We have the ambitious goal to create a global portal satisfying the end-to-end spectrum of customer and service provider’s needs. The project will encompass 4 phases.

PHASE 1

FFQuest global portal development – top-notch marketplace where rent-a-car businesses and individuals can interact (B2P). FFQuest.com will represent a unique medium entirely devoid of the faulty market patterns intrinsic to current portals.

PHASE 1

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Core Phase 1 activities include:

1) Creating smart contracts as well as establishing the integration layer and launching the

FFQuest.com portal. At this stage, partnership contracts with rent a car providers will be

pursued as well. One of the specifics of the EU market is that due to price competitiveness,

very often national rent-a-car providers also service neighboring markets. For example,

EU companies in countries like Poland, Czech Republic, Slovakia and Bulgaria service

clients in Germany, Austria and Greece.

2) Incorporating the ability to pay and receive payment in fiat without disturbing the smart

contract token engine behind. At least, non-crypto users will need time to get accustomed

to the FFQ usages and advantages. At this stage, the option to hedge the FFQ token

volatility risk upon user request will be included.

3) Establishing a universal referral program where all referees

will receive a fee of 1 % from the recommended service. The

amount of 1 % is negligibly small compared to the extremely

high commission fees of traditional portals and can be viewed

as an investment in customer acquisition and expansion. It

maintains the freemium model of FFQuest.com, where rent-a-

car providers receive 99% from new clients’ proceeds and in

the same time receive a 1% fee from their own clients using

colleagues’ fleet in uncovered destinations. Thus, the balance

of this referral model will be secured and the added value

model maintained. In addition, the referral functionality will

encourage the promotion of FFQuest.com and facilitate

banner placement and other advertisement activities.

PHASE 2

P2P ride - sharing service that connects drivers and people with ride or transfer need. The spectrum of this functionality can be very diverse, encompassing constituents such as taxi drivers, Uber-like and limo service professionals as well as private individuals. The type of business relations established in this manner will be again P2P, as the idea is for all drivers to function in their capacity as private individuals. What is the rationale behind this approach? In theory, at the core of the shared economy platforms lies the goal to create greater value for the ecosystem by optimizing underused resources. However, practice shows that some of the major ridesharing platforms such as Uber, Lyft and others, function in a much more burdensome manner, with decreased return and increased control.

Provider Acquisition

The beauty of the online rent-a-car market is that – unlike booking providers – car hire companies are not usually bound by exclusivity or otherwise restrictive clauses when working with traditional portals. This means they enjoy high mobility and are able to easily migrate should a revolutionary platform as FFQuest.com arises.

PHASE 2

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This is demonstrated by examining annual turnover rates at any of the leading ridesharing platforms, which amount to 40-50 %. The major problem lurking behind these figures is that current players often advertise hourly provider rates of $25-$35/hour (in US)., platform commission included. In reality after car and maintenance expenses, in medium term professional drivers seldom get average real rates above $10-$20. A result that kills wheelmen return and motivation and they leave as soon their additional bonus targets are completed. Opposite to the above, our business model goal is to offer an efficient and sustainable ridesharing channel without surplus charge. FFQuest freemium marketplace will offer travelers and ridesharing providers, as well as society as a whole, a variety of benefits such as optimized travel costs and duration, reduced traffic and a positive effect for the environment. Interest in ridesharing is constantly increasing due to a variety of reasons:

Vehicle ownership expenses are on the rise;

Access to downtown areas in big cities is limited due to traffic optimization and legislative

even/odd car plate restrictions;

Districts and municipalities are improving environmental and traffic conditions by

stimulating non-profit ridesharing. Initiatives include high occupancy vehicle lanes and

tolls, ride-home municipal vouchers, reserved public parking lots, etc.;

Ridesharing presents a simple, yet powerful idea: reducing travel costs significantly (supporters say expenses can even be cut by as much as 80 %) while maintaining quality riding experience. A lot of shared ride seekers and providers currently use a variety of ways to connect online, including social media and dedicated forums. However, blockchain technology is able to address demand in a way that will optimize the market and enhance its productivity. The FFQuest blockchain app will offer to individuals who provide ridesharing services an additional channel to connect with ride seekers. Besides, FFQuest.com will deliver ridesharing services commission-free which will boost word of mouth free marketing. There are numerous examples of how the FFQuest.com application can be utilized. Let see a simple scenario:

An airport transfer to a city downtown costs EUR 30 by taxi. Two independent rideshare seekers can pay to a driver a fee of EUR 20 each for their routes. A rideshare provider can be a taxi driver or a private individual leaving by car the airport. In this manner, each ride seeker has saved EUR 10, while the driver has earned EUR 10 (or EUR 40) on top.

Essentially, in this phase FFQuest will utilize technology to marry the best of public and private transportation – fair and reasonable prices combined with the personalized approach. Additional services will be offered, among which will be the option to pre-order.

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Phase 2 will also encompass the following activities:

Creation of a private blockchain network in partnership with a leading IT company such

as IBM to keep all relevant vehicle information with permissioned access. Depending on

owners’ requirements, this secured information could include ownership history, annual

mileage, car accidents, repairs and spare parts origin, annual technical examinations,

etc. The blockchain network will involve at least 3 types of mutually independent

participants: owners of data base, information providers and users. The latter such as car

buyers, insurers, car producers, business partners could be charged in order to get access

to the uncorrupted information in case of related disputes or needs.

Establishment of an arbitration system to resolve potential disputes. The presence of an

impartial third party that will transparently control misbehavior based on evidence and

on community involvement will be beneficial to maintain an environment of trust and

ethical behavior.

Introduction of ratings for customers and providers. On one hand users with higher

reputation levels will be able to get additional benefits such as lower prices and deposits,

better insurance conditions, free car extras, removal of specific credit card requirements

etc. On the other, providers with higher ratings will be placed on the marketplace with

better portal visibility, additional free of charge services and bonuses.

Development of a group reservation functionality that will assist customers with more

specific requirements such as corporate clients.

Integration with similar blockchain projects from the tourist, financial or other related

sectors in order to create synergies from joint efforts and users with similar mindset.

PHASE 3

P2P car and parking space sharing 3.1 P2P car sharing between individuals P2P car-share and hire is a comparatively new market practice that allows owners to reduce ownership costs while receiving additional income. At the same time, riders save on the costs of driving/possessing their own automobile. Car-sharing businesses currently operate in more than 1,500 cities globally and enjoy millions of clients. The benefits of this new sharing economy trend are many: reduced traffic and alleviated urban travel and commutes, greater parking space availability, less greenhouse gas emissions and last but not least reduced cost for riders and additional earnings for owners.

PHASE 3

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Some market players have even gone further to fine-tune the service, refining its value proposition even more. For example, a major player Getaround has developed an additional device along with a mobile application to allow end-users to start vehicles and later return them without additional human presence. An interesting look at the business potential of car sharing in Europe is represented by the research conducted by the German Kraftfahrtbundesamt, and presented by McKinsey & Company in their report “Mobility of the Future. Opportunities for Automotive OEMs.” The findings showed that while only 2.5% of German urban dwellers (cities > 100,000 inhabitants) currently use car sharing, 24% consider resorting to the service today and 31% actually claim they intend to advance this habit in the following years. The gap to the 2.5% of actual current users reveals the booming potential of the market..10 In addition, taxi and car sharing services can be very useful in places where Uber-like providers are banned from operating. Some of these markets include Germany, France, Denmark, Italy, Greece, Hungary, etc. as well as to some extent, countries like Australia, Japan and Taiwan. 3.2 Parking space sharing option Needless to say, at the beginning this type of service will concern mostly parking spaces at strategic locations, including airports, railway stations, megacity centers, etc. Such an approach will be particularly convenient for platform users to receive additional benefits while they are not using their properties. This is also an attractive opportunity, especially during peak seasons, for out of town individuals and for rent-a-car companies to sublet empty parking lots. Because of missing fleet at this period, respective parking spaces are empty and can be easily rented from the coming tourists. Parking Industry Specifics According to the Frost and Sullivan Report11, the global parking market amounts to $100 billion a year. The industry enjoys considerable dynamics, considering that 100 of the biggest and busiest cities across Europe and the U.S. are estimated to generate approximately 20 million usable parking spaces with potential revenue of $60 billion. Airport lots, business compounds and corporate carparks, as well as sports and culture facilities, municipalities, hospitals, transit parking and educational institutions are among the most profitable parking areas. Despite regionally-applied measures attempting to optimize vehicle use in megacities, the parking market still expands. This trend is a result of a combination of factors, among which are the improved infrastructure and growing personal mobility habits in terms of work, recreation and travel. For example, back in 2015, a private owner in Boston could buy a parking space for $ 390,000, while present-day cost of one hour on commercial parking in Manhattan can reach $ 60. The average U.S. driver (U.S. megacity drivers amount to 50 million from the estimated 700 million

_________________________________________________________________________________10. Source: “Mobility of the Future. Opportunities for Automotive OEMs.” – report by McKinsey & Company 11. Source: www.frost.com/sublib/display-report.do?id=MB4D-01-00-00-00

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megacity drivers worldwide) spends annually $ 1,000 on average for parking. More than 50% of the estimated 100-billion turnover is accounted for the U.S. market. 12

Global car ownership amounts to 1 billion. By allowing new and greater opportunities for parking space sharing and subletting, FFQuest will provide to platform’s users an opportunity to enjoy multiple benefits such as ease of parking and additional income. In the larger sense, this will also improve individual and urban mobility. Other Phase 3 goals include:

Integration of the FFQ token with loyalty and priority cards ecosystems. Besides new

distribution channels, this gives users the opportunity to more efficiently convert their

collected points while decreasing the cost for the provider.

Creation of own brand token credit/debit card (FFQ Card) that will be based on the

FFQ token or integration with similar existing provider. This will give users the

possibility to pay in real-time using the FFQ token for all additional car hire services

such as rental deposit, fuel, road tax (for renters) or to cover maintenance or other

expenses (for vehicle owners).

The more a FFQ token is being used, the better utilization value it will have.

_________________________________________________________________________________ 12. Source: www.batesrealestatereport.com/beacon-hill-garage-parking-space-asks-record-price/11/02/2015/

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VII. SOLUTION

To begin with, the high-end view system architecture of FFQuest encompasses 3 components: Web-portal together with an App (iOS and Android), a Decentralized and a Centralized part. All together they are forming the Decentralized Application (dApp). The Decentralized Engine consists of a Distributed Ledger (FFQ Ledger) or the B2B layer that will maintain on blockchain the important parameters such as assets availability, prices, booking terms and conditions, cancellation policy, deposits, etc. We call it a “Distributed Engine” because it possesses the characteristics of a distributed system. The Centralized part is a physically separated database, also having the nature of B2B layer that keeps additional large volume information related to both service providers and clients such as profiles data, images, descriptions, social platforms interactions, etc. Keeping the heavy data off-chain at the beginning till the moment when blockchain technology matures enough for full stack automation and decentralization will optimize the initial costs of the smart contracts creation and execution on the blockchain network.

The Interface or Marketplace, also called “Retail domain” represents the B2C and C2C layer where all participants will interact and initiate the business transactions further executed on the FFQ Distributed Ledger.

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More precisely, this solution can be presented as a 2- layer architecture:

1) Centralized Front-end - User Interface Layer

This is the Marketplace Portal that includes responsive web and mobile

interface.

2) Decentralized Back-end layer

2.1) Distributed FFQ Ledger on Blockchain

FFQuest dApp will keep all sensitive information for listings and

availability, payment settlement and rules, cancellation policy,

transactions in smart contracts on Ethereum VM nodes. The

Distributed Ledger information will be stored on thousands of

computers within the P2P network and it cannot be changed and

fabricated by a third party. In its nature the contracts execution is

Decentralized.

This layer is open-source and will remain for universal free use by everyone. More applications will be encouraged to use it in the

future, which can widen the practical applications for the FFQ token.

2.2) Centralized Backend Layer

This is the central backend keeping a mirror database of the Distributed FFQ Ledger on a server database. Storing all data on the blockchain is an unnecessary expense from both a technical and business perspective.

FFQuest will fundamentally upgrade the current market solutions created by the existing market players with a simple approach. We will put in the core of our business model the freemium model used successfully from companies such as Skype, Google, Linkedin, Spotify, Drop box etc. We will combine it also with the huge power of blockchain ledger and smart contract automation.

Marketplace launch will represent a web-based Portal with an intuitive and easy to navigate UI. It will serve as front-end for the users, communicating with the common centralized and decentralized back-end of FFQuest. The architecture design will be made in a manner allowing a new interfaces addition of emerging platforms (AR/VR/Information points). For the centralized back-end we will use PHP, MYSQL, Dockers and Micro services. FFQuests final objective is to create a hybrid platform combining traditional and emerging blockchain technology for optimal synergy and with user-centric ideology and design.

The Difference Between

Decentralized and Distributed

Explained

A decentralized system is a system in which there is no single point where the decision is made. Each of the system’s nodes makes a decision for its own behavior and the resulting system behavior is the aggregate response. For a system to be “distributed” it means processing is shared across multiple nodes, but decisions may still be centralized and use complete system knowledge.

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VIII. CUSTOMER ACQUISITION

FFQuest will rely on its team’s substantial experience in the fields of mobility, IT and business development in establishing а new model in the industry of car rental and ride- and parking space sharing services. Attracting and retaining loyal customers in the context of a nascent market model requires very efficient marketing materials and refined strategy. The main pillars of FFQuest’s success will be a strong community and mutually beneficial strategic partnerships. Both require an individual approach led from the main goal for all participants to join hands in their own interest. It is obvious fact that for a startup it is a very ambitious task to compete with the multimillion budgets of the big international players but we believe that the token economy model, the platform with 0% commission and the word-of-mouth marketing will overcome the challenge. Airdrop Campaigns Airdrop campaigns will serve as a useful tool to establish and sustain the FFQuest community. This approach will allow FFQuest users to interact with the platform and FFQ token, to give their feedback for improvement and to efficiently promote the project. Campaign participants will have to follow certain predefined conditions that will be announced through the communication channels. Referral and Affiliate Programs FFQuest users and supporters will be able also to participate in referral and affiliate programs aimed to motivate community in attracting new users and expanding the FFQ project. Strategic Partnerships A token/blockchain-based platform is a very dynamic ecosystem that can flourish only through an active and enduring cooperation with like-minded individuals and business entities. Therefore, FFQuest will make efforts to build a diverse strategic partnership framework to help establish a win-win cooperation with rent a car companies, crypto oriented projects as well as with blockchain oriented tech leaders such as IBM. For example, with the advancement of technology and the penetration of autonomous cars, it becomes increasingly important to have a safe and easy-to-use transaction environment. This is now possible by using blockchain technology, which eliminates the need of a third party in order to synchronize and secure the information for platform participants. Furthermore, such kinds of platform will be able to offer additional mobility-related services without human interaction such as opening and starting a car (mobile app keyless system), rising a parking lot barrier (automatic number plate recognition), best match for ride sharing (AI

IBM is the global leader in enterprise-aimed open-source blockchain solutions and is dedicated to supporting the development of openly-governed blockchains. It is also a member of Hyperledger Foundation, an open source collaborative effort created to advance cross-industry blockchain technologies. IBM Blockchain assists by consolidating details, providing immutable records of trustworthy environments and offering insight into both preventive and predictive maintenance.

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applications for automated route planning), etc. Such a platform can be built on IBM Blockchain technology and can be driven by Hyperledger Fabric, a project hosted by the Linux Foundation. Another example for the above topic is the IBM-powered parking space prediction technology that enables mobility decisions based on parking spots availability algorithms. The calculations combine urban data and observed parking patterns as well as data from cars coming and leaving parking areas. The predictions could be observed through a mobile application and drivers could readily find valid parking spots in real time instead of wasting time, fuel and causing traffic congestion.

IX. TOKEN GENERATION EVENT

In order to be sustainable and scale up their blockchain-powered platforms, freemium based companies have to run on their own cryptocurrencies or tokens. Thus, in the smart Token Generation Event (TGE) lays the foundation for a successful development. Contextual partnerships with like-minded businesses, such as travel and tourism platforms will boost business and users synergies by offering related 0% commission services within one ecosystem allowing clients to flow back and forth among platforms. Why Token Sale? Unlike alternative ways to popularize the services of FFQuest, a token sale provides an efficient and effective approach to attract users worldwide, who will join the sharing economy platform as both providers and end-customers. At the end only the token economy gives incentives to all involved parties – platform developers, service providers and users to join efforts and to establish mutually beneficial eco system.

TOKEN HIGHLIGHTS

Name – FFQ, created as an ERC-20 token on the Ethereum blockchain;

Total Token supply – from 45 million to 100 million FFQ tokens to be emitted according

to the accumulated financing, 60% of them will be offered for Sale;

Price - to be fixed to the USD with a token face value of $0.10;

Soft Cap – $ 1.5 million USD;

Hard Cap – $ 4.5 million USD;

Min. investment – 10 USD, max. investment – 100 000 USD. Orders above the

maximum limit will be considered on case by case basis;

Soft Cap to be reached within the Main Sale event. If it is not, or proceeds go beyond

Hard Cap, investors will get a full refund of their respective transfers;

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TOKEN DISTRIBUTION

60 % of all emitted FFQ tokens will be offered for sale on 2 phases:

o 45% in Phase 1

o 15% in Phase 2

Remaining 40% will be allocated as follows:

o 20% will be distributed among the team, community and partners, vested for

12 months;

o 20% will be retained for project development such as bounty programs,

exchange requirements, marketing, medium of circulation, fiat hedging and

ecosystem growth;

The FFQuest Token Sale will be executed through an established and secure platform such as Tokenget.com. The respective turnkey solution will support the project to comply with KYC, AML, GDPR and other regulations. It possess all necessary features to address and to secure all aspects of a successful Token Sale, including smart contract generation, token distribution, airdrop automation, bounty and referral programs, etc.

TOKEN SALE The FFQuest.com TGE will be managed in two phases through a secure and transparent process. Based on the platform capabilities on which TGE will occur investors could acquire FFQ tokens either with fiat (EUR, USD, BGN) or with the main existing crypto currencies. FFQ tokens will be offered at different price levels depending on the token sale phase. Before the Main Token Sale start they will be offered to strategic investors and partners according our Private Sale terms.

45%

15%

20%

20%

FFQ Token distribution

Phase I - Pre-sale

Phase II - Post Sale

Team, Partners,Community

Future Development

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Phase I – Main Token Sale Starting period: In 2019 and will continue over a 45 day timeline. During the Main Sale 45% of all FFQ tokens will be offered to the public as follows:

Pre-Sale event – tokens will be offered with a 15% discount for 15 day period;

Main Sale event – the remaining tokens will be offered on their face value price for 30

day period;

At the end of the Token Sale period, all unsold FFQ tokens will be destroyed. The ones remaining for internal use will be used or locked according to the mentioned above terms. Phase 2 – Token Post-Sale Six months after the Main – Sale and upon completion of the first part of the FFQuest.com project, a Post-Sale event will take place for the 15% of the remaining FFQ tokens. FFQuest aims to reward and further stimulate its initial investors by giving to the most loyal of them an opportunity to address appropriately FFQuest project development and token demand increase. There will be 1 month public announcement for all phase 1 investors allowing them to order and acquire new tokens up to the amount of tokens they bought during Phase 1. Investors will be able to receive new FFQ tokens with a 10% discount from the respective current market price in Coinmarketcap.com, only amounting to the quantity of FFQ tokens acquired in Phase 1 and being present in their wallets. If the overall number of FFQ token purchase requests exceeds the available tokens for sale, all purchase requests will be executed on a first-come, first-served basis. In case the overall number of FFQ token requests does not reach the number of tokens for sale, the remaining ones will be added to the FFQuest project development reserve and will be used for Phase 2 and 3 development. At the end of each Phase all sold FFQ tokens will be transferred to the Sale participants in a 7-day period from the respective end date. FFQuest is committed to a transparent token sale process and will notify the public of all relevant information such as definitive amount of FFQ tokens issued, collected investment, number of investors, etc.

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Budget allocation

30% IT Development 20% Marketing and Sales

15% Acquisitions and Partnerships 5% Business Development

10% Operations & Admin 10% Overseas Expansion

8% Legal 2% Bug Bounty Program

30%

20%

15%

5%

10%

10%

8%2%

Token budget allocation

IT Development

Marleting and Sales

Acquisitions & Partnership

Business Development

Operations and Administration

Overseas expansion

Legal

Bounty Program

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X. ROADMAP

JULY: Project concept initiation

NOVEMBER: Market analysis, research and idea testing, PoC

JANUARY: Car rental platform development start

MAY: Investment and funding negotiations

2017

SEPTEMBER: Start of investors engagement

FFQ Token Event

Alfa version of the Decentralized FFQ Ledger for B2P launch

FFQuest mobile App test and deployment for Android and iOS

Beta version of the Decentralized FFQ Ledger for B2P launch

P2P car and parking space rental option design and development

2019

2020

2018

AUGUST: Platform testing and blockchain compatibility verification

FFQ Token Post Sale

Marketing campaign boost of the B2P Marketplace

Overseas expansion of the FFQ platform

P2P ride sharing design and development

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XI. TEAM AND ADVISORS

MARTIN KOKALOV Co – Founder CEO and founder at Callflowlab.com, experienced Entrepreneur with a strong Business Development spirit. Acknowledged for his skills in client-centric orientation and product development. Martin has a strong technical background in SW Services and Integration in the Telecommunication industry.

PETAR PETKANOV Co – Founder Management and Business Development professional with background in IT, Banking and Car leasing. Proven record in management positions with solid expertise in brand and market share expansion. Holds a bachelor degree in Business Administration and Master degree in Law and Accounting.

ELIAN KURTENKOV Technical Lead During his 10+ years of experience in software development Elian has covered the full spectrum of roles involved in a product’s life cycle with a strong focus on solutions architecture and projects management. He has specialized in enterprise distributed systems and blockchain technology, developing deeper expertise in smart contracts’ design and various blockchain platforms and security frameworks along the way.

SVETOSLAV PETKOV Senior Blockchain expert Blockchain practitioner and Team Lead with 12+ experience in putting into practice diverse B2B and B2C projects. Proficient in systems’ deployment and applications’ integration for business processes’ management and automation. Strong Blockchain believer and Scrum master.

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HRISTO TENCHEV Technology Advisor Entrepreneur and Co-founder at LockTrip.com. Co-founder of Softuni.org - innovative IT education center with more than 100,000 software engineering students through its 3 years of operation. He is a pioneer in blockchain education in Bulgaria. Founder of XS Software, one of the most successful gaming companies in Europe with more than 50 million registered players worldwide.

GALIN GROZDEV Senior Blockchain expert He has 15+ years of professional experience as a software developer, technical leader and systems architect. Galin has acquired a broad expertise in diverse technologies such as Embeded and Content Management systems, Multimedia and Blockchain development. Community co-founder of APIS (Agile methodologies in Sofia) and AMSIS (Architectural Modelling and Simulation of Information Systems).

ROSEN KRUMOV Blockchain expert C/C++/Blockchain developer. His experience is mainly in embedded software development for the automotive industry. Currently Rosen is dedicated to Blockchain and DApps development and deployment. He is proficient in writing efficient and safe code with strong knowledge of creating common algorithms and data structures.

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KALIN DIMTCHEV Business Strategy Advisor (Pro bono) General Manager in Microsoft for Bulgaria and CEE Multi-Country Region. Kalin has over 15 years of management experience at both early-stage and public companies in various industries. In his previous role as a Country Leader for IBM in Bulgaria and Ukraine, Kalin was responsible for the assigned territories’ business and IBM brands. As a multi-national business executive he has analyzed various innovative projects. He is a Business Strategy Generalist with a wide leadership expertise within the IT industry.

NIKOLA ALEXANDROV Business Operations Advisor Co-Founder and CEO at LockTrip.com. 10+ years of expertise in high-end Search Engine Marketing (SEM) Solutions, lately concentrated on the Blockchain Development and Operations. With solid experience in creation and improvement of a travel industry meta-search aggregator (BookingSpot). He also possesses strong knowledge and expertise in the field of Digital Marketing, e-Commerce and FinTech algorithmic development.

SVETLIN NAKOV Chief Blockchain Advisor Co-founder at Softuni.org and pioneering blockchain education in Bulgaria. He is one of the leading Blockchain evangelists, focused on development, training and advising projects employing block-technology. He has 20+ years of solid professional experience as software developer and technical leader in numerous projects with various technologies and platforms, including blockchain development. Chairman of the Bulgarian Association of Software Developers (BASD).

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NASHWAN KHATIB Blockchain Advisor Founder and CEO of MENA Software. Experienced IT professional on his way to Ph.D in Decentralized Computing. Focused on delivering final results and achievement, he combines a wide-range of capabilities as a senior full stack developer and Entrepreneur. A sought-after professional when it comes to Blockchain, Decentralization, SW Development and IT security.

STOYAN STOYANOV Concept Implementation Advisor Associate Professor of Finance at Stony Brook University. Profound expertise in the field of risk and investment management, with 10+ years of research, design and implementation of such models. He co-developed a patented system for portfolio optimization in Probability Theory and extreme risk modelling. Great ability to execute an idea from theoretical concepts to practical implementation.

ELITSA VLADIMIROVA Business and Relationships Development Advisor (Pro bono) Global Product and Project Manager at IBM. Focused on Business Development and Market positioning, Elitsa has 15+ years of career path within the IT industry. Well acknowledged for B2B successful client acquisitions and projects delivery through efficient Leadership, Partner Collaboration and Relationship management. She spent the last 5 years working with major international companies.

IONKO DANTCHEV Finance Management Advisor Executive Director at Texim Holding. Ionko is proficient in Financial Management, Investments and Entrepreneurship. He has mastered financial strategy development during his extensive experience in the Banking sector. Currently he manages the assets of his family holding company.

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GEORGI DANTCHEV Strategic Planning and Partnerships Advisor Executive Director at Texim Holding. Georgi possess expertise in Business Operations and Financial Management. His ability to develop investment strategies with end-to-end execution is worthwhile and proved to be successful in his career in Banking and Private Sector.

MICHAELA CHRISTOVA Legal Advisor Managing partner of Christova&Partners Law Firm. Michaela is attorney-at-law with 15+ years of professional experience with strong focus on commercial & corporate law, banking & regulatory regimes. Member of Sofia Bar Association since 2006. She has a strong interest in current and future blockchain and cryptocurrency legislation.

DESPINA KOLEVA Communications Advisor Communications Development Manager at American University in Bulgaria. Despina has 15+ years of experience in communications, media and creative writing. She has developed and executed numerous marketing and advertising campaigns for leading local and international brands in media, IT and education. Despina possesses extensive experience and a keen interest in the areas of new technologies, business innovation and entrepreneurship.

TSANIO TSANEV Project Management Advisor Sales and Marketing Director at Callflowlab.com. Proficient in providing services for optimization, automation and analysis by innovative Cloud and SaaS solutions. Vast experience in Business Analysis and Consulting, with focus in Business Process Management and SW integration. Strong expertise in setup and development of online businesses and web startups in the field of e-commerce.

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XII. LEGAL NOTICE

Please read this section carefully and make sure you understand the terms and conditions outlined in this Whitepaper. In case you need advice on how to proceed, please consult your financial, legal, tax or other professional advisor(s). FFQ tokens are not intended to constitute securities under any jurisdiction. This Whitepaper does not constitute and is not intended to constitute an advertisement or offer document of any sort and is not intended to represent an offer of securities or a solicitation for investment in securities under any jurisdiction. This Whitepaper does not constitute or form part of any opinion on any advice or solicitation by the distributor/vendor of the FFQ tokens (the “Distributor”) to purchase or sell any FFQ tokens. This Whitepaper or any part of it, or the fact of its presentation, shall not form the basis of, or be relied upon when concluding any contract or investment decision. It shall not serve as the basis of entering into any contract or other legally binding commitment in regard to the purchase and sale of the FFQ tokens. No cryptocurrency or any other form of payment shall be accepted based on this Whitepaper. Any agreement regarding the purchase and sale of FFQ tokens (as referred to in this Whitepaper) between the Distributer and you, in your capacity of a purchaser, shall be governed solely by a separate document establishing the terms and conditions (“T&Cs”) of such agreement. In case of any discrepancies between the T&Cs and this Whitepaper, the former shall prevail. No citizen, resident (tax or otherwise) or green card holder of a jurisdiction where the FFQ token might be considered a form of security is eligible to buy any FFQ tokens within the token sale, as brought up in this Whitepaper. By purchasing FFQ tokens you confirm that you are aware that you are buying a digital ERC20 Software Token, that has no expiration and which has the sole purpose of being a utility token for granting access to the vehicle and parking rental service which the Distributor is selling. None of the information set out in this Whitepaper has been examined or approved by any regulatory authority, nor such action has been or will be taken under the laws or regulations of any jurisdiction. It shall not be implied from the publication, distribution or dissemination of this Whitepaper that the applicable laws, regulatory requirements or rules have been complied with. There are risks and uncertainties associated with FFQuest and its respective businesses and operations, the FFQ tokens, the FFQuest Token Sale (each as referred to in this Whitepaper). This Whitepaper and any part or copy of it shall not be reproduced or transmitted to any country where the distribution or dissemination of this Whitepaper and any part thereof is prohibited or restricted. No a part of this Whitepaper is to be reproduced, distributed or disseminated while not as well as this section and also the following sections entitled “Disclaimer of Liability”, “No Representations and Warranties”, “Representations and Warranties By You”, “Cautionary Note On Forward-Looking Statements”, “Market and Industry Information and No Consent of Other Persons”, “Terms Used”, “No Advice”, “No Further Information or Update”, “Restrictions On Distribution and Dissemination”, “No Offer of Securities Or Registration” and “Risks and Uncertainties”.

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DISCLAIMER OF LIABILITY FFQuest shall not be liable for any indirect, special, incidental, consequential or other losses of any kind to the maximum extent permitted by the applicable laws, rules and regulations. This includes losses in tort. Contract and otherwise, including but not limited to the loss of revenue, income or profits as well as loss of use or data, arising from or connected to any acceptance or reliance on this Whitepaper or any part thereof.

NO REPRESENTATIONS AND WARRANTIES FFQuest does not make or intend to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever, to any entity or person. This includes any representation, warranty or undertaking in relation to the authenticity, accuracy and completeness of any part of the information included in this Whitepaper.

REPRESENTATIONS AND WARRANTIES BY YOU By accessing and/or accepting possession of any information in this Whitepaper, or any part of it, you represent and warrant to FFQuest the following:

o You agree and acknowledge that FFQ tokens do not constitute securities in any form and under

any jurisdiction.

o You agree and acknowledge that this Whitepaper does not constitute and is not intended to

constitute an advertisement or offer document of any sort and is not intended to represent an

offer of securities or a solicitation for investment in securities under any jurisdiction.

o You agree and acknowledge that you are not bound to enter into any contract or legally binding

agreement solely on the basis of this Whitepaper, as well as to accept any type of cryptocurrency

or other form of payment based on it.

o You agree and acknowledge that none of the information set out in this Whitepaper has been

examined or approved by any regulatory authority, nor such action has been or will be taken under

the laws or regulations of any jurisdiction, and that it shall not be implied from the publication,

distribution or dissemination of this Whitepaper that the applicable laws, regulatory requirements

or rules have been complied with.

o You agree and acknowledge that this Whitepaper, the undertaking and/or the completion of the

FFQuest Initial Token Sale, or future trading of the FFQ tokens on any cryptocurrency exchange,

shall not be construed, interpreted or deemed by you as an indication of the merits of FFQuest,

the FFQ tokens, the FFQuest Token Sale (each as referred to in this Whitepaper).

o You agree and acknowledge that this Whitepaper and any part or copy of it, or acceptance of the

same by you, will not be reproduced or transmitted to any country where the distribution or

dissemination of this Whitepaper and any part thereof is prohibited or restricted, and that you

have observed and complied with all such restrictions at your own and without liability to FFQuest.

o You agree and acknowledge that in all cases where you intend to purchase any FFQ tokens, the

FFQ tokens are not to be construed, interpreted, classified or treated as:

- Any type of currency other than cryptocurrency;

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- Debentures, stocks or shares issued by any person or entity (FFQuest);

- Rights, derivatives or other financial instruments in respect of such debentures, shares or

stocks;

- Rights governed by a contract for differences or covered by any other contract the

objective or pretended objective of which is to secure a profit or avoid a loss;

- Units in a collective investment scheme;

- Units in a business trust;

- Derivatives of units in a business trust;

- Any other security or class of securities;

o You agree and acknowledge that you are not eligible to purchase any FFQ tokens if you are a

citizen, resident (tax or otherwise) or green card holder of the United States of America or a state

member or resident of the Republic of Singapore.

o You possess general understanding of blockchain technology and smart contract technology as

well as basic knowledge about the operation, functionality, usage, storage, transmission

mechanisms and other material characteristics of cryptocurrencies, blockchain-based code

systems, cryptocurrency wallets or other alternative token storage mechanisms.

o You understand and acknowledge that the purchase of FFQ tokens involves risks associated with

FFQuest and its respective business and operations, including the FFQ tokens and the FFQuest

Token Sale (each as referred to in the Whitepaper).

o You agree and acknowledge that FFQuest is not and will not be held liable for any indirect, special,

incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but

not restricted to loss of revenue, income or profits, and loss of use or data), arising out of or in

connection with any acceptance of or reliance on this Whitepaper or any part thence by you.

o You agree and accept that all of the above representations and warranties are true, complete,

accurate and non-misleading from the time of your access to and/or acceptance of possession of

this Whitepaper or any part of it.

CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS By “Forward-looking statements” we mean all statements within this Whitepaper or any content in press releases or in anyplace accessible by the general public, oral statements on behalf of FFQuest or any of its executives and team members acting on behalf of FFQuest, that are not statements of historical fact. To identify “forward-looking statements,” the inclusion of some of the below forward-looking terms in these statements might help: “aim”, “target”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”, “will” or alternative similar terms. The above terms are by no means exhaustive in identifying forward-looking statements. Such forward-looking statements, including but not limited to statements about FFQuest’s revenue and profitability, prospects, future plans, other expected industry trends and other matters discussed in this Whitepaper regarding FFQuest are matters that do not constitute historical facts, but only predictions. Forward-looking statements may include familiar or unknown risks,

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uncertainties and other issues that may cause future FFQuest results to differ from any expectations expressed or implied by the same forward-looking statements.

Such issues may include, among others:

o Changes in the political, social and economic scene, as well as alterations and fluctuations

in the stock or cryptocurrency market conditions. Regulatory changes in the countries

where FFQuest operates and/or conducts business activities also fall within this category.

o The risk that FFQuest may not be able to execute or implement any business strategies

and future plans.

o Interest and/or exchange rate changes in fiat and cryptocurrencies.

o Anticipated growth strategy and expected internal growth changes.

o Changes in the availability and fees payable to FFQuest in regard to any respective

businesses and operations.

o Changes in the availability and remuneration of employees who are required by FFQuest

to operate their respective businesses and operations.

o Customer preference changes.

o Changes in the competitive environment and in which FFQuest operates and FFQuest’s

ability to address such changes.

o Changes in the future capital needs of FFQuest and the availability of financing and capital

to respond to such needs.

o War or acts of domestic or international terrorism.

o Catastrophic events, natural disasters and acts of Nature that may have any effect on the

business and/or operations of FFQuest.

o Any risk and uncertainties associated with FFQuest and their businesses and operations,

the FFQ tokens, the FFQ initial token (each as referred to in the Whitepaper).

All forward-looking statements made by or attributable to FFQuest, or individuals acting on behalf of FFQuest are explicitly qualified in their entirety by such factors. All forward-looking statements must be met with no undue reliance, given that risks and uncertainties may cause any actual future results, performance or achievements of FFQuest to differ from anything expected, expressed or implied by the forward-looking statements in this Whitepaper. All forward-looking statements are relevant only as of the date of this Whitepaper. Neither FFQuest, the Distributor, nor any other individual warrants, represents and/or undertakes that the actual results, performance or achievements in future will be as presented or discussed in the forward-looking statements contained in this Whitepaper. No information or forward-looking statements contained in this Whitepaper may be relied upon as any kind of promise, representation or undertaking in regard to the future performance or policies of FFQuest.

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FFQuest is in no way obliged to update any of the forward-looking statements contained in this Whitepaper, or publically announce any revisions to them, to signal future developments, events or circumstances, even if information becomes available or other events occur in the future.

MARKET AND SECTOR DATA AND NO CONSENT OF OTHER PERSONS

This Whitepaper contains market and industry information, as well as forecasts, obtained from sources such as internal surveys, reports and studies, market research, publicly available information and industry publications. Sources of public availability generally claim reliability and authenticity of represented information, however there can be no warranty as to the accuracy or comprehensiveness of such included information. Apart from FFQuest, the Distributor and their respective executives and employees, no other individual has provided their consent to the inclusion of their names and/or other information, attributed or perceived to be attributed to the same individual, in this Whitepaper. No guarantees are provided regarding the accuracy of such information and the individuals in question will not be obliged to provide any updates on the same information. FFQuest have taken reasonable action to ensure that the information contained in this Whitepaper is extracted accurately and in its proper context. However, FFQuest have not conducted any independent review of the information extracted from third party sources. Its accuracy and completeness have not been verified and the underlying economic assumptions have not been examined. Neither FFQuest, the Distributor, nor the respective directors, executives and employees acting on their behalf, make any claims as to the accuracy and completeness of such information and are not obliged to perform any updates on it.

TERMS USED To facilitate a profound understanding of FFQuest, the FFQ utility tokens and the FFQ Utility token Sale, certain technical terms and abbreviations have been used throughout this Whitepaper. Any descriptions and assigned meanings pertaining to any of the abbreviations used in this Whitepaper may vary in meaning from standard industry terminology, and should not be considered definitive. Words introducing singular forms shall, where applicable, include the plural and vice versa; and words introducing the masculine gender shall, where applicable, include the feminine and neuter genders and vice versa. References to persons and individuals shall include corporations.

NO ADVICE No information in this Whitepaper should be considered as business, legal, financial or tax advice regarding FFQuest, the Distributor, the FFQ utility tokens and/or the FFQuest Initial Token Sale (each as referred to in this Whitepaper). In case you are interested in FFQuest and its respective businesses and operations, as well as the FFQ token and the FFQuest Initial Token Sale (each as referred to in this Whitepaper), please consult your own advisors. You should acknowledge that you may have to bear the financial risk of any FFQ utility token purchase for an indefinite period of time.

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NO FURTHER INFORMATION OR UPDATE No individual has been or is authorized to provide any information or representation not contained in this Whitepaper in connection to FFQuest, the FFQ utility token and the FFQuest Initial Token Sale (each as referred to in this Whitepaper). If provided, such information or representation shall not be regarded as having been authorized by or on behalf of FFQuest. The FFQuest Initial Token Sale (as mentioned above in the Whitepaper) shall not, under any circumstances, be regarded as a continuing representation, neither should it suggest or imply that there has been no change or development connected to FFQuest and its affairs since the date of this Whitepaper.

RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION The distribution or dissemination of this Whitepaper or any part of it may be prohibited or restricted by the laws, regulatory requirements and rules of any jurisdiction. You are solely responsible to inform yourself about and observe any restrictions which may apply to your possession of this Whitepaper or any part of it. FFQuest shall hold no liability whatsoever in regard to your possession and any possible distribution or dissemination of this Whitepaper or any part of it on your behalf. Individuals who have somehow come into possession of this Whitepaper or any part of it in their possession are not to distribute or disseminate it to other parties, reproduce or otherwise distribute this Whitepaper or any information contained in it for any purpose, nor will permit the same to occur.

XIII. GDPR, KYC, AML: SAFEGUARDING REGULATORY OBSERVATION AND REPORTING BY USING

BLOCKCHAIN

FFQuest, in its capacity of a shared economy platform, is subjected to various rules, regulations and directives, among which are the General Data Protection Regulation (GDPR), Know Your Customer (KYC) and Anti Money Laundering (AML). To observe these, massive amounts of data need to be compiled, tracked and stored as well as reported to regulators when needed. In this regard, blockchain comes as a very useful solution due to its nature of a distributed database and verification system for financial transactions. Blockchain technology is famous for providing utmost security and eliminating fraud. Misuse of information within the blockchain is easily prevented because data on the ledger is hard to alter and any alteration can be tracked and monitored.

In addition, under the transparent nature of the blockchain, data recorded on the ledger could be made readily available to regulators when necessary. All transactions, financial activities, account openings, etc. can be monitored and reported in real time. Thus, violations can be easily detected, reported and addressed.

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At the same time, data privacy and control are extremely tight in the blockchain. While the distributed ledger could help with KYC reporting, sensitive data is very well protected and compliance violations are safely prevented. The reason is that the blockchain is a trust network where user details can only be accessed by trusted sources and its encryption capabilities serve to safeguard the available information.

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www.ffquest.com

www.FFQuest.com