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1 Social Finance Platform Blockchain Social Network and Gateway for Financial Services and Products Education, Product selection tools, Reputation score, Certification system and User Rewards Overview: Gooruf.com is a vertical social network for finance. Online since March 2017, it is creating a new way for people to interact with the world of finance. The platform helps users learn about finance and choose financial products thanks to crowd-sourced advice and feedback. Currently Gooruf is still a centralized platform where the exchange and collection of information between supply and demand happens within the site, but real commercial deals happen outside of it (in fact Gooruf is not a financial intermediator). The project aims to gradually build a Blockchain Protocol to transform Gooruf in a totally decentralized social network and gateway, regulated by smart contracts. In the new Gooruf, Financial Firms and Users will be able to communicate, interact and do deals with each other using GoorufCoins, disrupting completely the market of retail financial products and investments. The first step of this process will be to allow Users and Financial Firms to use the GoorufCoin to buy respectively added value services and advertisement spaces on the current platform. Soon after, a Blockchain-based reward system will be built to reward Users for their contribution to the growth of the platform and for their attention to the Financial Firms propositions. Then, the Blockchain system will be extended to measure User reputation within Gooruf as well as to certify information and documents. Step by step, Gooruf will eventually become completely decentralized, fair and helpful for a modern development of the financial industry, with the GoorufCoin (tradable on the main exchanges) at the center of the platform. The final mission of Gooruf is to provide trust and truth through the Blockchain to the financial market and give to the User and the Financial Firms the access to a crowd-source trusted platform. Company: Gooruf is an international project by Blue Financial Communication (BFC), an Italian publishing house listed on the Milan Stock Exchange. BFC owns a large portfolio of publications and media brands, including Forbes Italia. Gooruf established its London head office in 2016 and then subsidiaries in Hong Kong, Milan and soon New York. Being a media company, Gooruf can expand globally without the need for a financial license. Still owned 100% by BFC (who have invested directly in almost two years of development), Gooruf will raise liquidity to grow through an ICO, launched by its subsidiary in Hong Kong: Gooruf Asia Limited, Queen s Rd Central, Hong Kong, BR Problem: Some problems routinely faced in the financial services industry are age-old: 1. The financial services industry is vast and complex and the average consumer may not be qualified to find or choose the right product for themselves. They will often put their trust in the nearest establishment or intermediary. However, these often don t have the right products for each client and they may upsell a product or service that has higher profit margins. 2. Financial companies invest a lot in physical locations, such as bank branches, and in sales staff. These overhead costs are significant, and they are then reflected into the retail price of the financial products. Other problems have presented themselves more prominently since the dawn of the information age:

2 3. Many online reviews are impacted by scammers. Some of which may be paid by entities intending to boast about their own product s performance, or by a competitor intending to spread false rumors on the web. Both cases are prevalent, and result in illegitimately skewed reviews. 4. When meeting people online, it is also nearly impossible to verify exactly who you are interacting with and gauge their credentials. The same happens with information (see the case of fake news). 5. Today, people spend hours on social media, often being the target of multiple forms of advertising. This time has a value that traditional social media is not rewarding. Solution: Gooruf has been developing a new ecosystem that could improve the financial industry with a solution to the problems outlined above: 1. Gooruf aggregates in one platform the most relevant training material, news and reviews (by rating companies and Gooruf Users) about financial companies and products. It gives Users an intuitive way to learn about finance and a more comprehensive resource to choose financial products. In addition to Gooruf s knowledge base, Users can also decide to base their choices on reviews and feedback. In fact, users can engage with one another on the platform to discuss, rate, review, and learn about financial products and the institutions that offer them. Finance professionals and Users can interact with each other in this manner as well. At the same time, aggregating a huge number of financial companies and financial products in the same place, Gooruf gives the Users an efficient way to find financial suppliers and products. 2. Hosting supply and demand in one platform, Gooruf gives financial companies an efficient way to reach clients, hence avoiding expensive sales channels. The savings could then lead to a margin increase for the companies and cheaper products for their clients. 3. By developing a system of reputation, Gooruf assigns a reputation score to its Users that gives a clear indication as to whether the author of a review or post is reliable or not. The system will be based on the Blockchain, so completely safe and decentralized, and it will be impossible (even for Gooruf itself) to tamper with it. 4. By developing a complex system of certification, Gooruf gives users the assurance that the people they interact with and the information they read are real. People and companies can decide to certify themselves and their content through this system to increase their value and credibility. The system will be based on the Blockchain, so it will be safe, decentralized and unalterable. 5. Through this reward system, Gooruf gives Users a way to be recognized for their contribution to the life and growth of the platform, as well being rewarded for their attention to the offers and content posted by financial companies. The reward will be in the form of a Blockchain-based Gooruf token (a utility token) that will be the base of all the economy inside the platform (see below). Token Economy: Users, Financial Firms and Gooruf will be equal actors of the Gooruf Economy. Users: They will spend the token to buy added value services/products (premium account, e-books, software, valuable information, etc.) from Gooruf and to access special offers from Financial Firms (and potentially financial products in the future). They will sell the tokens to the Firms and to other Users on the market through Exchanges. They will earn tokens by contributing to the life and growth of the platform as well as by interacting (reading, watching, etc.) with content published by Financial Firms on Gooruf. Firms: They will spend the token to reward Users who engage with their information (advertisement). At the beginning (until the decentralization is completed) they will spend the token on advertisement spaces sold by Gooruf, then directly from the platform and Users. They will buy the token from Gooruf or from the market (Users and Exchanges) Gooruf: It will spend the token to reward Users who contribute to the life and growth of the platform.

3 It will earn tokens by selling added value services/products to the Users and by selling advertisement spaces (at beginning) or just marketing support (later) to the Firms. It will earn tokens by updating the technological infrastructure and the Blockchain protocol. Example: Firm A publishes new content (articles, videos, charts). User B interacts with this content (reading, watching, commenting). Firm A rewards User B for the interactions accomplished. This kind of interaction will be rewarded according to the rules established by Firm A as managed by the Market of the Platform. The User spends the earned tokens to buy services/products from Gooruf or from Firms. Payments As explained in the above specifications, the token enables transactions to happen between the subjects involved. Token transfer The transfer of the tokens when used as payment or reward will be applied on the Blockchain. Market: In the tourism industry, recruitment market, mass market goods and in many other industries, the supply and demand are matched online. This is made possible by very well-known websites such as Expedia, Monster, Amazon, etc. In finance, this phenomenon is arriving late but has already started. In fact, there are already a few online communities where financial professionals and customers interact. Seeking Alpha (SA) is one of the largest online communities where these interactions take place and has some 5-8 million active users. Yahoo Finance, which started as a pure information source and has veered towards this model, has over 50 million active users. Neither of the platforms mentioned has an ecosystem where reviews and/or recommendations are held accountable. This changes with the emergence of the Gooruf platform, as users are held responsible via incentives and reputation ranking. Current Track Record: Gooruf is currently running in three regions (IT, UK, Asia). A fourth (USA) will launch soon, although still undergoing some developments. The website, to-date, has gained more traction in Italy, where it was founded and where the holding company has many connections and channels of promotion.

4 Team: Denis Masetti, Founder and CFO Denis Masetti, born in Bologna, with a degree in economics, is the director of Blue Financial Communication. Active in the financial and advertorial sector and since 1981, he has held various roles and developed numerous business ventures. He directed Arte & Investmento, published by Finarte Edizioni of Milan, before becoming managing director of Campus and commercial director of Class Editori. In 1995 he founded Blue Financial Communication, where he became president. With BFC, in 1997, he launched the site followed by various publications: Hedge, Advisor, Soldi and Bluerating. He also contributed to the creation and management of the weekly Bloomberg Investimenti, where he was a partner and member of the board. Moreover, he was managing director and shareholder of Fida (Finance and Data Analysis), a leader in Italy in the management and analysis of financial products. Journalist and author since 1993, he has also written the following books: Indexlinked and unit-linked, the insurance policies that invest in the stock market 1997 published by Sperling & Kupfer; Finance online, Internet and finance at the turn of Editions Fag; Hedge funds, a resource for investors 2003, published by Wiley Finance, London. Federico Morgantini, Co-Founder and CEO Since 1998, after graduating in Mechanical Engineering at the Politecnico di Milano, Federico has consecutively started businesses in multiple fields. His IT experience dates back over two decades to when he founded one of the most prominent web marketing companies in Italy, Sintetica srl. In 2002 he became a partner and marketing manager of MotoHP, a magazine dedicated to the world of motorcycles. In 2004 he moved to Shanghai where he opened the Studio Morgantini, consultancy to support the entry and development of Italian companies and startups in Asia using new technologies. During those years, he attended many training courses in marketing and finance, essential to help the development of startups in complex market such as Asia. In 2016, he joined BFC to develop the Gooruf project. As a natural self-starter, Federico was also once standing VP of Young Entrepreneurs of Milan. He is the author of the book: Un Italiano in Shanghai (Albatros, 2011).

5 Partners: