PLAAK March 28, 2018 V2.4 Whitepaper PLAAK Freelance App Written: Chai Shepherd, Damian Robson Design: Rahul Vyas Decentralized General Market Place For Freelancers
1. WELCOME TO PLAAK PLAAK is a project that began in an effort to find a solution for the perceived incompatibility of incorporating blockchain technology more cohesively into people s everyday lives, in a constructive manner. Blockchain technology is ground-breaking, and although it is still at its infancy the world is playing catch up to the enormous opportunities existing on the technology platform. PLAAK incorporates the best of blockchain technology in an easy-to-use app to allow people to take advantage of the technology in a number of ways. The primary focus will be to take power away from big corporations and return it to workers and employees, by putting them in the position to empower themselves and participate in the digital token asset economy currently worth $500 billion, and projected to potentially reach a $2 trillion market value by the end of 2018. PLAAK is also looking at providing the opportunity to more easily invest in the economy through the PLAAK investment fund. The fund will operate within the PLAAK ecosystem and be primed to grow through strategic investment. The fund is fluid, with users given the opportunity to cash out whenever they wish. Another future development that the PLAAK team is looking at, is the ability to use tokens within the ecosystem to access quality health services from medical and healthcare participants. 2,3 1 PLAAK NETWORK OF APPS Freelance App Wallet App Investment App Health App 2
2. THE PLAAK COMMUNITY There are two main ways the PLAAK ecosystem differentiates itself from other similar mobile job apps. The first is the seamless link between the digital asset economy and the service industry. The link opens a whole new world up for everyday users to make and receive payment with both fiat money and cryptocurrencies, not just one. The second way is the PLAAK ecosystem itself. PLAAK is creating a microcosm society, whereby the Freelance app connects to a myriad of other features such as the PLAAK investments app, wallet, exchange and health fund platform, making the products we are bringing outshine our competitors. This revolutionary approach seeks to create a visionary way in which digital assets are imagined and used in everyday life. PLAAK becomes a one stop shop, allowing users not only to search, review and connect with service providers, but become more empowered and in control of a growing digital community that is tailored to benefit them uniquely. THE ECOSYSTEM One Login Single account for all PLAAK apps Interlinked Apps Our backend is built in such a way that all the apps are interlinked Highly Secure By having continuous improvement on all platforms, we are able to ensure the security of PLAAK Smart contracts You have full control of all the payments
3. OUR VISION FOR THE FUTURE OF FREELANCING More and more people from all walks of life are hungry to make a change on how they do business, wanting to put themselves in charge of work hours, charges and terms. The allure of flexibility and a more reflective outcome of work input has caused freelancing to grow at a record rate. In the U.S. alone, freelancers account for 35% of workers, collectively earning $1 trillion in 2016. Despite the growth however, when first stepping out on their own, people are faced with the overwhelming prospect of creating a working business structure for themselves. This includes: 4 1 3 PLAAK S VISION 2 4 PLAAK 4. HOW PLAAK ADDRESSES THESE ATTRIBUTES 4.1 ESTABLISHING A DEPENDABLE RELATIONSHIP WITH CONSUMERS Establishing and maintaining confidence in the reliability of service providers is an arduous process. The foundations of a successful freelancer lies in the perpetuated word-of-mouth advertising by respected clients about the work of a freelancer. 4
Once a freelancer is able to create a dependable image, finding work becomes easier, with clients often coming to them rather than vice-versa. Without being within a reputable company however, the initial establishment of a great image is hard without expending large amounts of time and money into more conventional forms of advertising such as billboards or paper ads. PLAAK s app allows users to fast track the growth of their business, using cutting edge blockchain solutions that facilitates an easier environment for these business relationships to develop long-term. The app enables freelancers to establish themselves in their community by letting their work speak for itself, rewarding work with relevant ratings that advertise their dependability to other potential clients. This creates a self-sustaining and honest community that helps each other. Clients are able to have their voice heard by many over their experience with service providers, and freelancers are empowered to indicate to fellow service workers which clients are difficult or undesirable to work with, providing legitimate reasons for their complaints. 4.2 TAILORING BUSINESS CONDITIONS THE SOLUTION Within large corporations, individuals are at the mercy of the conditions dictated to them by higher authorities. The suffocation of individual freedom and reduced compensatory reflection of their efforts is often the very thing that makes people turn to freelancing. Being able to dictate conditions and be in control of all aspects of their business to tailor it to their benefit, is the most alluring feature of stepping out of bigger businesses into a self-made one. PLAAK puts all control of business conditions in the hands of its users. Freelancers talk directly with clients and discuss mutually agreed upon conditions for each job. The freelancer can be as flexible as they like with every client as each discussion is specific to the job at hand. In this way, the freelancer can receive payment more reflective of their work, and take on jobs they feel can be completed by them with the highest satisfaction. 4.3 MINIMISING COST As previously discussed, a daunting aspect of freelancing is starting without the 5
help of a bigger company, often backed by larger funds to cover costs such as transaction fees and advertising. This is where the beauty of blockchain comes in. What is Blockchain? Blockchain technology is a database that collects transactional records. Collected records, represented online as blocks are then linked together and confirmed by a network of computers rather than one. By using a large network, no single person has control of the information. This creates a secure database where changes and 5 tampering are practically impossible. Blockchain technology essentially takes out intermediary institutions that would check to see if transactions are fraudulent and does it in a faster, more effective manner. How does PLAAK use this blockchain to diminish expenses? PLAAK Removing the middleman also removes associated expenses such as fees. Traditionally, payment facilitators such as banks charge multiple high fees of around 10% when handling money, which hurt small businesses. Clients can also be affected from the outset with some credit cards charging more than 3% on top of the amount that they are paying for the service. Using blockchain technology, PLAAK reduces the number of fees to one. Payments made in fiat currency attracts a 5% administration fee whilst a payment by crypto currency attracts only a 1% fee. There are also no chargeback fees. All payments are made in the one transaction, which allows freelancers to receive their money for the job within minutes. PLAAK does not hold on to any money and does not interfere with the transactions, so the freelancers are in control of their business at all times. During the transaction between the freelancer and client, they are the only people to handle the money at any time. The universal nature of blockchain also allows payments to be made at any-time, anywhere. Freelancers don t have to be concerned with fiat money currency limitations or having to open up different accounts when they are in different countries. This greatly reduces the stress on freelancers who rely on money to sustain their business, and increases their cost base margins by diminishing expenses that other businesses have to pay. The transparency of transactions also means that all data is visible to the relevant 6 users only and cannot be manipulated, so users can be confident that their data is safe and all transactions will be straightforward and reliable. For users unfamiliar with blockchain and cryptocurrency, PLAAK is a perfect step into the digital asset community, seamlessly enabling users to take advantage of the technology without having to go to the trouble of worrying about how or where to do so. 6
4.4 TAPPING INTO THE GROWING DIGITAL COMMUNITY HOW IT WORKS With over 3.8 billion people around the world having access to the internet, industries are recognising that the digital community is the future of business growth and success. Through the freelance app, PLAAK s real-time mapping provides a visual representation of the potential market in the freelancer s local area, as well as advertising their business location for potential clients. By digitalising their presence, freelancers tap into the internet user market in one step with no signup or subscription fees. The development of a cryptocurrency economy has also given rise to the potentially trillion dollar market for businesses. With the universal benefits of borderless payment, low fee and fast transaction times, cryptocurrency opens freelancers up to a myriad of possibilities. PLAAK enables freelancer services to be paid by fiat money or cryptocurrency. Being paid in cryptocurrency allows freelancers to participate in the trillion dollar market, as well as making the most of PLAAK s entire ecosystem. PLAAK s ecosystem will also include the ability for users to watch their assets grow in an investment fund, partake in a cryptocurrency exchange, pay for quality health services internationally as well as pay for goods on and offline with a future debit card. Trust & Reputation Payments PLAAK PLAAK Block chain PLAAK App Plaak Web Portal How PLAAK solves the problem 7 7
5. FREELANCE APP WALKTHROUGH WALKTHROUGH Once the freelance app is downloaded, a freelancer makes an account incorporating their business and service details. At completion, the details of the freelancer appears on the real-time mapping feature. Clients who are then interested in purchasing a service from a freelancer click on the relevant service and pays through the PLAAK gateway. Depending on the payment option chosen, the client will have the amount converted to the relevant currency immediately. If a cryptocurrency is selected as payment, then a matrix barcode will be generated that the client can use to make the transaction from their cryptocurrency wallet to the freelancer. The transaction will be immediate, and the payment will be completed within minutes. If any disputes arise, because the transaction information has been recorded in a smart contract form on the blockchain, all funds and disputes are handled by the users without the interference from third parties. If one user is dissatisfied over the service or interaction with the other, then they can file a dispute. The receiver of negative feedback then has the opportunity to resolve the issue as quickly as possible, keeping in mind that the time taken will impact their rating on the app. Negative ratings can reflect badly on their business, and will impact on whether other users will interact with them, ensuring a sense of urgency and professionalism when dealing with the matter. When they both come to a resolution, the person who issued the dispute confirms on the app that the issues have been resolved, and the details of how this was done is recorded. All the information is saved on the blockchain and the ratings will be adjusted according to the outcome. This system ensures that all users and processes are transparent, the community kept safe and secure. The PLAAK ecosystem also has a 24hour support service, so that if users have any questions at any time about how to use the app they can do so directly with experts. 8
PLAAK Freelance Secure Payment Gateway PLAAK app will use secure biometric authentication for all it s apps Reviews? The Plaak App enables you to leave reviews for the person you choose Realtime Mapping See which service providers are in your local area in real time Support Chat Engage with the PLAAK team via our website, Facebook page or email PLAAK Freelance App 8
Referral Bonus TOKEN DISTRIBUTION 6. TOKEN DISTRIBUTION 6.1 OFFERING SIZE 6.2 PRICING Pre-ICO - 10,000,000 PLK Tokens up for Pre-ICO 850 PLK per 1 ETH for the entire pre-ico period. ETH Minimum goal 500,000 PLK. If minimum is not met refunds will be issued via the smart-contract. 12% of the Pre-ICO funds will go into marketing the main ICO, We are planning multiple approaches of digital marketing such as banner ads, press releases, signature campaigns and social media. The number of PLAAK coins (PLK) is limited to 100,000,000, only 20,000,000 will be available for this initial ICO and no further coins can be created due to the strict laws of smart- contracts. If the main ICO does not pass the minimum specified, all remaining pre-ico funds are returned to the investors minus marketing and administration expenses to be capped at 20%. 1 ETH = 850 PLK Tokens 10
Entire Main-ICO Period- Week 1 [ 1 PLK = $1.0279 USD ] Week 2 [ 1 PLK = $1.1058 USD] Week 3 [ 1 PLK = $1.1837 USD] Week 4 [ 1 PLK = $1.2616 USD ] Week 5 [ 1 PLK = $1.3395 USD ] Week 6 [ 1 PLK = $1.4174 USD] Extended Period Until 1st June 2018[ 1 PLK = $1.4174 USD] TOKEN DISTRIBUTION NOTE: Our main ICO will have an ongoing bonus structure for the entire crowd sale period. This will involve Pre-ICO and Post ICO launch sales. Minimum purchase amount is 30 PLK tokens. 6.3 TOKEN FUNDS DISTRIBUTION All funds raised will go straight into furthering the development and security of PLAAK. 70% of all funds raised will go directly into development and expanding the team behind PLAAK. 3% of funds will then go towards legal fees to make sure PLAAK is compliant in all countries. 5% will go into technology improvements such as upgrading servers, purchasing EV SSL certificates and much more. Another 12% will go towards marketing PLAAK to gain awareness about the platform and gaining more users. The last 10% will be held by PLAAK secure private wallet on contingency plans on future improvements to the business. 11
10% Development team bonus 12% Marketing Token Distribution TOKEN DISTRIBUTION 6.4 TOTAL TOKEN DISTRIBUTION 78% of all coins are available for purchase during the ICO. A maximum of 12% of the total supply of coins will be given to promote the product via multiple forms of digital marketing and development. 10% of the coins we be distributed to the development team as part of a bonus structure on completion of each project. All unsold coins will be stored with the PLAAK Group in a cold Vault for future release. 6.5 PRODUCT ARCHITECTURE AND PRODUCT DEVELOPMENT TIMELINE PLAAK features : Realtime Mapping See which service providers are in your local area in real time Check out the reviews The Plaak enables you to leave reviews for the person you choose 78% Token Sale Highly Secure PLAAK app will use secure biometric authentication for all it s apps Support chat Engage with the PLAAK team via our website, Facebook page or email 12
6.6 SMART CONTRACTS & WORKFLOWS PLAAK's smart contracts facilitate a decentralised and dependable payment system that works seamlessly with users and the blockchain. To illustrate an idea of functionality, please see the provided workflows below: Freelance App UI Version 1.0 TOKEN DISTRIBUTION PLAAK Login Chat system Provider Map Job/Services Offers Nearby Service providers Payment Page 13
Q2 2016 PLAAK Marketing Website Q3 2016 Research and analysis Q3 2016 Backend Development Q3 2017 PLAAK development Dec 1 2017 PLAAK pre-sale registration Jan 15 2018 PLAAK pre-sale launch Mar 1 2018 PLAAK official launch Q1 2018 PLAAK Online Web Shop Q1 2018 PLAAK Starts Freelance Java / Nodejs Update Q1 2018 PLAAK Starts Payroll/PMS Development
Q1 2018 Q1 2018 PLAAK Starts Exchange / Wallet Development PLAAK Starts Managed Investment Fund Development Q2 2018 PLAAK Exchange MVP Q2 2018 PLAAK Freelance Update Q2 2018 PLAAK Payroll / Project Management System MVP Q2 2018 PLAAK Managed Investment Financial Presentation Q3 2018 PLAAK Managed Investment Fund MVP Q3 2018 PLAAK Starts Healthcare Developement Q3 2018 Q3 2018 PLAAK Healthcare Developement Presentation PLAAK Starts Development System For ICO Payments Q3 2018 PLAAK Starts Child Sponsorship Game Development
Q4 2018 Q4 2018 Q4 2018 PLAAK Off-Chain Payment Presentation PLAAK Intergration Payment System Across the Ecosystem PLAAK Debit Card Presentation Q4 2018 PLAAK EMarket Presentation Q4 2018 PLAAK Anonymous Crypto Partnership Q4 2018 PLAAK Presentation Accounting Software Q4 2018 PLAAK Start Development Accounting Software Q1 2019 PLAAK Starts EMarket Development Q1 2019 PLAAK Starts Development AI avatar to assist with enquiries Q1 2019 PLAAK Starts Creation of personal avatar customized to suit the user
Q4 2020 Q4 2020 PLAAK Child Sponsorship Game Development MVP PLAAK EMarket MVP Q4 2021 PLAAK Accounting Software MVP..And this is just the beginning
7. REFERENCES REFERENCES 1 Browne, R. (2017). Cryptocurrency market now worth $500 billion, more than Warren Buffett's Berkshire Hathaway. CNBC, retrieved 2018 from: https://www.cnbc.com/ 2017/12/13/cryptocurrency-market-now-worth-half-a-trillion-dollars.html 2 Kharpal, A. (2017). Cryptocurrencies could be worth trillions of dollars, top VC says. CNBC, retrieved 2018 from: https://www.cnbc.com/2017/12/01/cryptocurrencies-could-beworth-trillions-of-dollars-top-vc-says.html 3 Wilmoth, J. (2017). Cryptocurrency Market Cap to Reach $2 Trillion in 2018: Mike Novogratz. CCN, retrieved 2018 from: https://www.ccn.com/cryptocurrency-market-cap-toreach-2-trillion-in-2018-mike-novogratz/ 4 Pofeldt, E. (2016). Freelancers Now Make Up 35% Of U.S. Workforce. Forbes, retrieved 2018 from: https://www.forbes.com/sites/elainepofeldt/2016/10/06/new-survey-freelanceeconomy-shows-rapid-growth/#5f961737c3ff 5 Martindale, J. (2017). Without blockchain, bitcoin couldn t exist. Here s how it works. Digital Trends, retrieved 2018 from: https://www.digitaltrends.com/computing/what-is-ablockchain/ 6 Martin, E. (2017). Why more people will use Blockchain-based payment platforms over banks in the future. TNW, retrieved 2018 from: https://thenextweb.com/contributors/ 2017/09/07/blockchain-vs-banks/ 7 Internet live stats. (2018). Internet users in the world. Retrieved 2018 from: http:// www.internetlivestats.com/ 18