Soferox White Paper The best way to send and receive coins Soferox has been conceived and designed to bring the first free way to send, receive and store the most popular and favorite cryptocurrencies. We will be offering individuals and companies the ability to create invoices, send and receive payments, exchange and swap currencies, and act as a safe and secure vault, all while charging no fees. As the project grows and expands we look forward to adding more features to open more avenues and appeal to more markets to facilitate converting more fiat currencies into cryptocurrencies. 2017 Soferox, LLC 7/17/2017 P a g e | 2 Table of Contents Abstract ......................................................................................................................................................... 3 Background ................................................................................................................................................... 3 Introduction .................................................................................................................................................. 4 Soferox LLC .................................................................................................................................................... 4 Transparency and Trust ................................................................................................................................ 5 The Team ...................................................................................................................................................... 5 ICO and Crypto Distribution .......................................................................................................................... 6 SFX Token ...................................................................................................................................................... 7 Potential Coins .............................................................................................................................................. 8 Software Build Architecture .......................................................................................................................... 8 The Soferox Vault .......................................................................................................................................... 9 The Trust ....................................................................................................................................................... 9 The Crypt ..................................................................................................................................................... 10 Standard User Functions ............................................................................................................................. 10 Merchant User Functions............................................................................................................................ 11 Insurance ..................................................................................................................................................... 11 The Crypto Economy ................................................................................................................................... 11 Can we buy from Soferox .......................................................................................................................... 11 Additional Features ..................................................................................................................................... 12 Is this Truly a No Fee Plat .................................................................................................................. 12 What does it mean for you to store money .............................................................................................. 12 What is a multi-server cold wallet system ................................................................................................ 12 Opportunities .............................................................................................................................................. 12 Timeline....................................................................................................................................................... 13 Summary ..................................................................................................................................................... 13 Disclaimer.................................................................................................................................................... 14 P a g e | 3 Abstract The main goal of this white paper is to explain the Soferox plat and outline investment opportunities. Why did we choose the name Soferox Ferox is a Latin word meaning fearless, which is exactly what we are. We are “so fearless” in how we are trying to change the world. By opening an easy, secure, and nearly free avenue for inexperienced individuals and businesses to not only convert fiat money into cryptocurrencies, but pay for items through our invoicing system. Asking a business to keep up with the volatile crypto markets is impossible, especially when they only deal in fiat money. We are looking to help solve this problem. Not only will we offer an invoice creation and payment system, but we will also have a built-in conversion system to convert paid monies from crypto to fiat and vice versa. The Soferox Token SFX, that will be sold, is our coin to represent a pool of funds that will be backing this project. These tokens will be utilized as an internal of payments within the Soferox system. This will allow currencies to travel through the system quickly and effectively, while allowing customers to exchange and trade all types of currencies. As the project is released into the open market we are looking to add and enhance more features of the Soferox system to better the accessibility of the crypto markets. Background Cryptocurrency is an ever growing area, but that does not mean it does not have its problems. Below we will discuss some of these issues. Plats and API There are a limited number of plats out there and not to mention APIs to go along with them. This is something that has given many plats the ability to monopolize and charge whatever they want. High Trading Fees and Prices Most exchanges now a days are charging fees that can range anywhere from an average of 0.2 all the way to 4. This is something that has happened due to a lack of other plats out there. Security Issues We have all heard stories of poorly developed plats that either lose funds, or run away with them. This is something that has become all too common with ICO’s running away with money, exchanges like Mt.Gox disappearing with over 650,000 bitcoins. Poor Customer Services As many of you know customer services on exchanges and plats can be quite awful. Many plats demand for identity takes far too long and is a huge headache for the customer. P a g e | 4 Introduction The popularity of cryptocurrencies is growing at an extreme rate, but payment plats and options are virtually nonexistent. Currently, exchanges are the only way to purchase, convert or swap cryptocurrencies, but all of this incurs some sort of fee. Besides paying for most transactions as well as a nonexistent payment plat with which to purchase different things from main stream resources. Filling all these gaps is where Soferox comes in. With a familiar and easy to use structure and interface, users will be able to send and receive payments, convert fiat monies to crypto currencies and vice versa, as well as trade and exchange all currencies all for free. The ability for users and businesses to instantly convert and exchange monies while trading between the two is unprecedented. We don’t want to distinguish between merchant and individual in the spirit of anonymity, so anyone and everyone can decide to be a merchant account if they choose. This allows the user to accept payments or transfers currencies between crypto and fiat currencies. With the unprecedent growth and excitement in the crypto markets the ability for anyone including a business to easily invest money into the market for free in incredible. Now comes the important part, how do we make money to keep offering these services Through the investment of funds, trading on the crypto market, and returns on investments in other ventures we are looking to ensure the continued funding of the Soferox system. Only time you will see fees will be when sending outside and even then you will only get charged the network fee and nothing from us to remove your funds from the Soferox system. Soferox LLC Soferox is an e-commerce American based company that got its start in designing and building robust and secure web based applications. With these honed skills, we are looking to fill a void in the transfer and exchange of cryptocurrencies. In the creation of the Soferox system various cryptocurrencies will be the only available funds. As the system expands and grows we will be adding more currencies. Soferox’s main goal in all of this is to open the commerce market to cryptocurrency. Having an easy way for business to exchange fiat currencies with cryptocurrencies of individuals and vice versa is virtually nonexistent, and with our team and experience we believe we can accomplish this effectively and securely. We want to create an environment that reflects the quality users expect and gain trust in our plat. By keeping your currencies in the Soferox vault we will work to give the user various incentives that will change and adapt as the markets dictate. We also want to give you a way to request and transfer funds to and from people in any currency regardless of their knowledge of cryptocurrencies. This will mean the integration API will be built with the main application, to allow an ease of integration on websites, business plats, and numerous other avenues of implantation. Due to our team’s faith in the potential of the Soferox plat, we are locking our shares of SFX tokens for one year. Not only will these shares be locked, but the team will be unable to trade or transfer any SFX tokens received during the ICO. We are doing this to enable longevity of the project. These boosts P a g e | 5 will help contribute to the “no fee” approach we’re taking with the Soferox plat. By the end of the one-year locked period we feel the system will be consistently producing new coins for services. Transparency and Trust Our number one priority is to provide an openly and completely transparent process getting this plat established, so that everyone can understand and appreciate the potential that this system will have. For this project to succeed, the diversity of our currencies is going to be key, hence the large ICO amount. In the spirit of these points we’ve outlined our plan below 80 of the funds will be diversified and divided among a differing number of cold wallets to maintain security. These varying number of cold wallets will be dispersed amongst a varying number of ever changing servers. These varying wallets and varying servers will change daily and randomly to protect fund integrity as well as add even more layers of security. With the ever-present threat of theft through “hacking” we feel we can’t be too careful with these funds. 20 will be stored in fiat funds to maintain liquidity in necessary cases; such as insurance, infrastructure improvements, and conversions of other currencies. The creation of the Soferox vault will allow us to store and maintain users to protect anonymity, but allow for the free flow of funds and currencies. Due to the design and structure of the vault we will have the ability to return assets fraudulently acquired as well as lock fraudulent users. With the help of users, individual accounts will have the ability to report and stop fraudulent users. These reports that turn into actual suspension and revocation of fraud will result in the of SFX tokens. A community that can govern itself tends to thrive better. Due to the ever-growing demand of an audit trail tied to an individual we are offering the ability to make any user account public in parts or in whole, customizable to the specific user. The option for complete anonymity is still the standard we try to strive for. An open API will be provided, and we will take every step necessary to ensure the protection of all ination We want to create a strong and lasting relationship with our customers by providing responsive and helpful customer service, complete transparency, comprehensive security, and the levels of anonymity that they desire. To accomplish all this we need to have a thorough bounty program that is going to encourage users to report all bugs and any security issues that may be present. Due to a strong desire to put forth the best system possible we are still considering the possibility of adding more members to our team to cover crypto security and an outside auditor. The Team Aaron Mathis – CEO Founder Aaron has a long history in internet security and specifically the application on web based developments. It’s his dream that inspired this project. His passion for the industry and desire to simplify P a g e | 6 access to more individuals is what drives this team to create this amazing plat. With an extensive background in computer science coupled with his er semi-pro hockey career, Aaron knows what it takes to lead a team, and overcome any challenges that may arise. Dr. Alex Williams – CTO Founder Alex has been consulting on many startups in the industry. He’s been a key member in ensuring they not only make it to consumers, but that they are and remain profitable. Alex has a PhD in mathematics which has helped him fine tune ability to take complex problems and new technologies and simplify them for the most basic user. He is also an accomplished programmer in a wide variety of languages and plats to help make this project a huge success. Chris Bennett – Marketing Manager Chris has had a successful career in directing companies on which markets to target to maximize product saturation and ensure customer satisfaction. He comes from a background in sales which gives him a unique perspective on the average consumer and how it could relate to this plat. It also gives an avenue for users of our plat to have direct into the design and implementation. Chris’ membership on this team will help ensure that users will stay involved from the development to the implementation of the entire system. The rest of our team is made up of our systems administration team, development and production, and