BIT ZET · 07. Strategies for Global Travel Ecosystem Establishment 7.1 Aviation Ecosystem Establishment 7.2 Travel/Tourism Value Chain Establishment 7.3 Platform Expansion Strategy

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For Official Use Only

2020 ⓒ QIANCAO INDUSTRY LIMITED. All rights reserved.

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- BIT ZET -

Ver 0.9.0

White Paper

Blockchain based Payment System for

Business & Private Travel

This document covers the current development process and is subject to change

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TABLE OF CONTENTS

01. Our Vision

02. Development Background2.1 Problems of Traveling Abroad2.2 Challenges in Jet Aircraft Market2.3 Changes of Travel Market in the

Post-COVID19 era

03. Project Development Plan

3.1 Total Travel Platform

3.2 Airline Reservation Solution

3.3 E-Commerce Platform

3.3 Hybrid Payment Solution

04. Project Implementation Status

05. Business Model5.1 Membership Program 5.2 O2O Platform Revenue Model5.3 Advertising Revenue Model

06. Market Status and Forecast6.1 Forecast of Travel Market Change

in the Post-COVID19 era 6.2 Jet Aircraft Market Forecast6.3 Private Helicopter Market Forecast

07. Strategies for Global Travel Ecosystem

Establishment7.1 Aviation Ecosystem Establishment7.2 Travel/Tourism Value Chain

Establishment7.3 Platform Expansion Strategy

08. Token Economy

8.1 Token Snapshot

8.2 Use of Token

8.3 Token Reward

09. Roadmap

10. Token Sale

10.1 Token Summary

10.2 ICO Guidelines

10.3 ICO Operation Policy

11. About BITZET

12. Partners

13. TEAM & ADVISOR

14. Legal Disclaimers

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01. OUR VISION

Provide Safe Travel / Tourism Service Across the Global

One-stop safetravel service for businesses and individuals

Business Medical Tourism

Private Travel

Reservation / Ticketing

Jet Aircraft

SmallAircraft

Hotel HospitalInsurance ShoppingConcierge

BIT-ZET is One-Stop Travel Platform Service that provides travelers with everything they needed

Efficient Travel with Time & Money Saving

Air Flight + Hotel + Local Service + Visa + Insurance all at once

Private Heli

Yacht

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2.1 Problems of Traveling Abroad

2.2 Challenges in Jet Aircraft Market

2.3 Changes of Travel Market in the Post-COVID19 era

02. DEVELOPMENT BACKGROUND

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As the market dominance of some foreign OTAs in the travel industry ecosystem has

expanded excessively, negative effects such as unfair trade and consumer damage are

increasing.

■ High OTA commission

OTA charges between 2-4% of the GDS-like fee for airline reservations, but charges a higher

average fee of 20-30% for hotels. Moreover, there is an additional 3% fee if the hotel wants

"preferential exposure", which means that the available rooms are displayed closer to the top

of the search list.

■ Information Manipulation

Companies that agree to high commission rates are exposed and recommended in the top of

the OTA search rankings, providing unclear and biased information to travelers.

Major OTA operators

BookingHoldings

Booking.com(Lodging), Priceline(Travel Service), Kayak(Metasearch),Agoda(Lodging), Rentalcars.com(Car Rental), Opentable(Restaurant)

ExpediaHotels.com(Lodging),Expedia(Travel Service), Trivago(Metasearch)HomeAway(Vacation Rental), Carrentals.com(Car Rental), Orbitz(Metasearch)

Worldwide Online Travel Market Size(Source: Statista.com, Unit: Bill. USD)

47.156.49

69.3981.75

2014 2016 20182020(E)

Foreign Tourists’ Reservation Places for Visiting KoreaFor Optional Tour (Unit: %, Source: KTO)

OTA

Offline Agency / Agent

Tourist Info. Center

Online Shopping Mall

Accommodations

Railway / Bus Terminal

42.4

15.4

13.1

11.2

10.1

5.5

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■ Overseas Payment Fee

When paying with a credit card overseas, “international usage fee” will be charged in addition

to the card brand fee.

In addition, when making payments in Korean Won. additional exchange fees will be incurred.

[Credit card overseas payment process when using Korean Won payment service]

Korean Won Payment Service Phase (additional)

Existing overseas credit card use phase

￡￥ €

Exchange

Local Currency

Additional KRW

Exchange Fee Incurred(3~8%)

%

=$

Int’l Credit Card Company Exchanged

for USD

Domestic Credit Card Companies Exchange

in KRW

Billing to Consumers

VISA, MASTERBrand Commission

(1~1.4%)

Domestic Card Companies’ Overseas Use Fees

(0.18~0.35%)

% %

$ ￦



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2.2 Challenges in Jet Aircraft Market

In the U.S., almost all of the Fortune 500 companies have more than one private airplane,

and those are common among companies as well as celebrities.

However, considering the difficulty of purchasing and operating expensive business jets

worth more than billions of won per unit alone, the market is growing for sharing shares or

leasing them together like golf club memberships. In addition, private jets brokerage

companies have emerged recently also.

■ Challenges in Jet Aircraft Market

Business jet brokerage companies are unable to use major GDS (Global Distribution System)

or travel reservation systems, making them inaccessible to customers.

• Fail to deliver real-time information on availability, location, price, etc. to individuals and

potential customers.

• Customers have difficulty in finding using available business jet and reservation service.

• Difficulty in managing jet joint ownership (or membership)


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2.3 Changes of Travel Market in the Post-COVID19 era

Approximately 14 million people leave for medical tourism a year, and 400,000 medical

tourists come into Korea annually, with an estimated $3,600 to $7,600 per person spending

per tour, while all related industries, including medical tourism-related travel agencies,

agencies, lodging and medical institutions, are closed due to the COVID-19.

Korea’s COVID-19 response strategy is becoming an international standard following K-pop,

K-drama, and K-Food thanks to the Korean government's transparent disclosure of

information and advanced medical systems after the World Health Organization (WHO)

declared a "global pandemic" regarding the COVID-19 Outbreak, and Korea’s COVID-19

quarantine measures and medical system are becoming a successful role model.

Due to the COVID-19 pandemic the increase in the number of foreign patients is expected

to slow down in the first half of 2020, the re-examination of Korea's quarantine measures

and excellent medical standards and systems in the face of the global catastrophe is

expected to help attract foreign patients in the future.

[Number of foreign patients from 2009 to 2018]


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03. PROJECT DEVELOPMENT PLAN


3.2 Flight Reservation Solution



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A platform provides total services for travelers to receive travel information and make

reservations / payments.

- Package Travel Information

- Travel Destination Information

- Airline Ticket Reservation / Ticketing

- Tailored Information through Traveler’s Behavior Pattern Analysis

Global Total Travel Platform

Airline

Lodging

Restaurant

Tourism

Shopping

Hospital

Car Rental

Travelers

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3.2 Airline Reservation Solution

ARS (Air-ticket Reservation System)

Users can directly search real-time flight reservation service for domestic and international

flights via the Internet and mobile, and select, book, pay, and ticket in real time for all fares

provided by airlines.

BLOCKCHAIN

Booking Management Fare ManagementMembership Management

Sales Management

Generate PNR Lookup PNR Reservation ListLookup TicketLookup QueueLookup History

Fare CheckFare Setup

- Schedule Setup - TAX Registration- Fare Registration

Membership Management- General Membership

- Airlines- Travel Agencies- Administrator

Member Withdrawal Management

Payment Management- Lookup Payment- Lookup Cancel, Refund

Sales Management

Website Management Statistic

Company Info. SetupHomepage Management

- Banner- Popup- Bulletin Board

Log-InVisitsMembership

Heli Jet Yacht


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[Blockchain-based E-commerce Platform Service Concept]

A dedicated customs clearance platform specialized in blockchain applied e-commerce will

be established to expedite and efficient customs clearance in rapidly increasing global e-

commerce goods trend.

BIT ZET provides an e-commerce ecosystem based on blockchain, providing incentives to

recommenders who build traffic to seller products through affiliate programs. In addition,

rapid customs clearance is possible through real-time transparent sharing of information as

well as prevention of forgery and alteration of reported information.

카Card Co. E-Commerce consignee

Customs

CourierCertification Institution

Warehouse

Express Co.

Courier

Ship

pin

g In

fo.

+ + + + + + + +


Fre

ight In

fo.

Devic

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fo.

Pric

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fo.

Pro

duct In

fo.

Pers

onal In

fo.

Cert. In

fo.

Tax R

ate

Info

.

Tax In

fo.

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1. PoA (Proof of Authority) Network Development

Algorithm used with the blockchain to provide immediate transactions through identity as

a stake consensus mechanism

2. MasterNode and ServiceNode System Establishment

3. Provides hybrid electronic wallet that is compatible with traditional payment systems

(credit cards, debit cards, simple payments, etc.) and can safely store personal

cryptocurrencies

4. Nearly real-time cryptocurrency transmission

Blockchain Based Hybrid Integrated Payment Platform

Store the transaction information inBlockchain network

Online Shop

User

Offline Shop

Payment Payment

User Account

Cryptocurrency

Credit Card

Payment authorization / cancellation requestCard slip purchase request

Real time payment detail lookup

Exchange fromCrypto Exchange

Debit Card

Easy Pay

Mobile Pay


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04. PROJECT IMPLEMENTATION STATUS

• 1.1 million hotels and accommodations worldwide

• Shareholders

✓ Major : Tencent✓ Notable : Ctrip

• Major shareholder related company

✓ Tongcheng : No.1 Chinese Cruise Company ✓ Skyscanner : Global No.2 Travel Agency

Secured exclusive contract in Korea with eLong!!

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Sponsoring TV Drama Entering MOU with Travel Agencies

Agreement in progress with Ko Samui Hotel, Thailand

Entering MOU for In-Bound Chinese Medical Tour

04. PROJECT IMPLEMENTATION STATUS

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05. BUSINESS MODEL

5.1 Membership Program

5.2 O2O Platform Revenue Model

5.3 Advertising Revenue Model

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05. BUSINESS MODEL

5.1 Membership Program

BIT ZET membership service supports various marketing functions. By providing functions for

marketing and promotion of the company, such as reward services according to purchase of

goods and services and event functions for members and non-members, airlines, travel

agencies, and small business owners can operate specialized membership services.

[Membership System Solution Diagram]

Jet AircraftMembership

SubscriptionVIP

Member

SOLUTION

Preferences

Bulletin Board

Statistic

Reward Mgt.

MembershipMgt.

Settlement

Sales Mgt.

Issuing Mgt.

Order Mgt.Issuing Mgt.

Lost/RedeliveryDesign Mgt.

User registration/Authentication

Daily SalesMonthly Sales

Cancel/RefundFranchisee’s Sales

Affiliates’ Sales

Deposit DetailsWithdrawal Details

Outstanding Amount DetailsPayment Amount DetailsSettlement to Franchisee

Member List, Member, Group,Clients, Anniversary

Reward HistoryRecharge HistoryUsage DetailsGift DetailsReward Details

SalesMembersVisitsProductsFranchisees

Board ListNoticeQ&AMaterialsEvents

Basic Settings, Accumulation, ClientPayment, Permissions, System

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Premium

Basic Consumer

PremiumConsumer

Advertiser

Free Service

Basic Paid Service

Advertisement

Discount

5.3 Advertising Revenue Model

Supply Products & Services

PayPurchase & Usage Fee

Brokerage Commission

Supplier Users

5.2 020 Platform Revenue Model

05. BUSINESS MODEL

Provide Products & Services

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6.1 Forecast of Travel Market Change in the Post-COVID19 era

6.2 Jet Aircraft Market Forecast

6.3 Private Helicopter Market Forecast

06. MARKET STATUS & FORECAST

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The fear of Coronavirus is all over the world. In particular, it seems that travel-related

industries such as travel, aviation, and lodging are hit hard due to significant restrictions on

international and domestic movement.

Realistically, various aviation industry experts predict that overseas travel will be difficult

unless it is really necessary or for business purposes in the post-COVID19 era.

Even if flights resume after the Corona 19 incident, "social distance" will inevitably be

implemented on board, meaning all seats will be like business class, and only 30 people will

be able to get on the plane that took 200 people, forcing ticket prices to rise.

COVID-19

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■ Travel Market Change Trend Forecast

• Normalize business purpose travel first

The Global Federation of Economic Organizations (GBC), which includes 16 major

countries, proposed ensuring the movement of businessmen to overcome the

economic crisis caused by COVID 19 pandemic and in March, trade ministers of G20

agreed to cooperate to prevent unnecessary obstacles to cross-border movement and

trade.

• Customized travel in small scale is the trend

Rather than group package tours of more than 30 people, the demand for traveling in

small groups will increase more, and package trips will also become more advanced and

customized trips rather than taking a narrow margin strategy as in the past.

• Safety will be one of the most important options for tourism

Travelers who directly or indirectly experienced the sinking of a cruise ship in Budapest,

Hungary, and terror attacks in tourist attractions, as well as the safety of quarantine or

disinfection in tourist attractions, will now consider safety issues more when they leave


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The global business jet aircraft market reached $ 2.38 billion in 2018, and is expected to

continue to grow at an annual average rate of 5.6% during 2018-2027, and is expected to

reach $ 3.89 billion in 2027.

Not only ultra-high-priced private aircraft, mid & low-priced chartered airplanes are also

emerging as new niche markets in recent years. Private aircraft company Victor launched the

first mobile booking service in the UK in 2013, and when the user enters the departure,

departure time and destination in the mobile app, a private aircraft is ready. User can get on

the plane 1 hour after booking.

By the end of 2019, China had a total fleet of 464 operational business jets, making the

country, the largest operator of business jets in the Asia-Pacific with more than 50% of the

market in the region. China is planning to establish as many as 500 general aviation airports

catering to the needs of around 5,000 general aviation aircraft by the end of 2020.

[Number of Business Jet Aircraft by Region]

※ Private jets cost $ 2,400 per hour for 2-4 passengers on small jets, while medium jetscost $ 6,000 per hour for 8-10 passengers.

NORTH AMERICA

63%Jets

12,123Turboprops

5,846

LATIN AMERICA

15%Jets

2,467Turboprops

1,781

AFRICA

3%Jets

437Turboprops

356

MIDDLE EAST

1%Jets

395Turboprops

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EUROPE

12%Jets

2,589Turboprops

756

ASIA-PACIFIC

5%Jets

1,031Turboprops

429

Source : ‘Fleets Analyzer’ DB, Flightglobal (as of 2015.10)

Jet

12,123Turboprops

12,123

Global Total


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Recently, the BBC reported that the spread of new coronavirus infections (Corona 19) has

caused a surge in customers trying to rent personal jets amid flight disruptions.

As the world has restricted departure and arrival aircraft to prevent the spread of the

coronavirus, most passengers are canceling their travel plans, airlines have also suspended

their flights, and 3.3 million seats have been lost on transatlantic flights alone across the

United States and Europe,.

Therefore, since it is impossible to catch flights on existing regular routes, it is the only

private jet that people who need to travel at risk take.



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6.3 Private Helicopter Market Forecast

Helicopters are widely used in the oil and gas industry, utility construction, construction sites,

search and rescue operations, marine surveillance, coast guards and tourism, and because of

their accessibility and convenience, private demand is increasing for short-distance

transportation.

Currently, the U.S. and Europe use 12,000 and 10,000 helicopters respectively in the private

sector alone, respectively, and demand for public services, health care and transportation is

expected to increase in Asia and the Pacific.


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7.1 Aviation Ecosystem Establishment

7.2 Travel/Tourism Value Chain Establishment

7.3 Platform Expansion Strategy

07. STRATEGIES FOR

GLOBAL TRAVEL ECOSYSTEM ESTABLISHMENT

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07. STRATEGY FOR GLOBAL TRAVEL ECOSYSTEM

ESTABLISHMENT

7.1 Aviation Ecosystem Establishment

• Entering the global initial market mainly in regions with a large number of jets

• Secure initial customers to global companies for business-oriented overseas travel

• Secure owners of jets with idle periods

• Secure operational jets through joint purchase of jets

Establishing Infrastructure

Helicopters Jet Aircrafts MRO

Service Product

Development

• Secure air routes• Private Travel Service Product Development

Customer Acquisition

• Cooperation and Partnership with economic organizations and business associations

• Securing corporate members including mid sized and large enterprises

• Securing high-income individual members

Establishing Aviation (Jets, Helis) Ecosystem

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Establishing Travel / Tourism Value Chain

After entering the travel destination by jet aircraft, travelers can jet into the destination and

manage the itinerary through "BIT ZET" application and enjoy the services (rental cars, lodging,

restaurants, shopping, etc.) according to the schedule.

(Value chain according to the travel schedule after entering the destination)

Blockchain API

Reservation / payment

China EuropeNorth

America

Jets

07. STRATEGY FOR GLOBAL TRAVEL ECOSYSTEM

ESTABLISHMENT

7.2 Travel/Tourism Value Chain Establishment

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Yacht

Cruise

Camping Car

• Yacht Travel Platform• Yacht Sharing, Rental O2O

• Cruise Travel Platform• Develop / Service

Cruise Travel Product

• Camping Car Sharing O2OPlatform

• Weekend Family Travel• Free Travel Abroad

07. STRATEGIES FOR GLOBAL TRAVEL ECOSYSTEM

ESTABLISHMENT

7.3 Platform Expansion Strategy

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08. TOKEN ECONOMY

8.1 Token Economy

8.2 Use of Token

8.3 Token Reward

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Bonus for the recommendation

08. TOKEN ECONOMY

8.1 Token Economy

■ Reward for Transaction

• Travelers can get Tokens by using the products and services of airline services and travel

services (car rentals, lodging, restaurants, etc.), making payments, and providing

transaction information.

Traveler

JetsHelis

Enterprise

Member

Payment, Transaction Info.Behavior Pattern Info.

Token Reward

Traveler

Recommendation

Sign Up

Travel ServiceFranchisees

Provide Transaction Info.Token Reward

(Car Rental, Lodging, Restaurant, etc.)

Reward for receiving Advertisement

Advertisement

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User Traveler

JournalistTravel

Agency

Provide Travel ContentsReward by

User & Traveler’s Evaluation

Evaluating Contents Token Reward

08. TOKEN ECONOMY

8.1 Token Economy

• Token rewards provided to general users and travelers for evaluation of travel information

uploaded to the community

• Token compensation for each travel information provider (journalist, influencer, travel

agent) according to the rating by general user and traveler’s assessment

Influencer

Travel Information Community

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Payment

• Pay with token when purchasing jet or helicopter tickets

• Pay with token when using yacht, cruise service

• Pay with token when making offline payment in travel destination

• When purchasing membership

• When purchasing products in BIT ZET Online Mall

• When paying product and service brokerage fee

• Pay with token when advertiser requests an advertisement as

advertisement fee

8.2 Use of Token

8.3 Token Reward

Consumer

• With PoC method, consumer can obtain tokens according to the

number of purchases and the amount of purchases

• For participating in various events

• For registering review of travel service experience

• For registering review of purchased other product

• For registering review of overall BIT ZET service experience

• For recommending products & services to friends, acquaintances

Product & Service Provider

• When providing information on products and services (payment

and user’s usage statistics)

• When registering brand new travel service product

08. TOKEN ECONOMY

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09. ROADMAP

1Q Start Platform Designing & DevelopmentWhitePaper V1.0

2Q Start Aviation Platform DevelopmentDevelop Domestic & Overseas Travel Products

3Q On&Offline Payment System DevelopmentStart Mobile Version Service Development

4Q Listing On Exchange‘BIT-ZET’ Platform TestExpanding Domestic & Foreign PartnersOpen E-Commerce Website

1Q ‘BIT ZET’ Official LaunchTravel〮Tourism Contents DevelopmentUpdate Planning considering users’ needs

2Q Pushing forward for advancing SEA MarketListing on Global ExchangeExpanding Local Partnership in SEA RegionLocation Based Service Development

3Q Establishing AI Based Travel Recommendation‘BIT ZET’ 2.0 Update

4Q Enter to NA, SA, European MarketAugmented Reality Based Service Development

2020

2021

2019 1Q Set-up TASK FORCE TEAM Start System DesigningIncorporate Hong Kong companyEntered MoU with ‘eLong’

4Q Team Rebuilding

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10. TOKEN SALE

10.1 Token Snapshot

10.2 ICO Guidelines


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Methods of payment ETH, BTC

Platform Ethereum

Type ERC20

Symbol BZET

DescriptionBlockchain based platform for travelers to make reservations and

payments to use travel services including transportation, lodging

Mining No Mechanical Mining

Reward MiningActivities for watching AD or using platform

Upload travel service experience review and recommendation

COIN Unit 18 decimal places

Initial Price 1 BZET = 10 Korean Won

Hard Cap 4,000,000,000 BZET

Max Supply 10,000,000,000 BZET

Fund raising Sale 4,000,000,000 BZET

Investment Limitation U.S. Citizenship Holders and other countries restricted ICO activities

Private Sale Limit $1,000,000 per person

Issuer QIANCAO INDUSTRY LIMITED

Issuing Country Hong Kong

AddressUNIT 04, 7/F, BRIGHT WAY TOWER, NO.33 MONG KOK ROAD, KOWLOON, Hong Kong

Audit Usage Details of ICO funds

Website www.bitzet.io

10. TOKEN SALE

10.1 Token Snapshot

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1) Planned Schedule

Private Sale Will be notified separately Will be notified separately -

Pre ICO Will be notified separately Will be notified separately -

Main ICO Will be notified separately Will be notified separately -

Bonus Will be notified separately Will be notified separately

※ EXCHANGE RATE

The exchange rate of ETH, BTC to BZET is calculated so that 1 BZET = 10 Korean Won at

coinmarketcap.com price based on Hong Kong time (UTC/GMT + 8) PM 12:00 (midday) on the day

of participation.

2) Minimum Investment Limit

From more than 10 ETH investment

3) Remittance over the maximum investment

When the maximum investment (500ETH) or more is transferred, the difference will be returned

within 60 days from the end of the ICO, excluding 5% of the remittance and operation fees

4) Lock-Up

Founder, Advisors, Alliances are limited in transaction to stabilize the market for 180 days after

listing on the exchange.

10. TOKEN SALE

10.2 ICO Guidelines

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3) KYC

Proceed to the KYC by putting the customer information into registration procedure on the platform

4) AML

Additional documentation and certification can be requested to prevent money laundering after checking

KYC for around 33 ETH (more than $10,000) of ‘BZET‘ and more.

5) BZET Steering Committee

• Establish five or more members of operating committees, including BZET Developer, advisors and

strategic investors

• Make decisions for funds execution and marketing, token sale planning and ecosystem expansion

• Chairman of the BZET board : HYUNG JOON, YOON

• Other Board Members : To Be Noticed

6) Security

Operates a security team to prevent Cyber Attacks and conducts regular security checks

7) Privacy & GDPR

• Doing efforts to comply with each country’s national privacy policies and meet the GDPR Guide in

Europe

• Submit Privacy & GDPR Policy Report regularly

10. TOKEN SALE

10.2 ICO Guidelines

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1) Token Distribution Budget

2) Budget Operation Plan

※ Details of each operation plan are subject to change after resolution by the board of directors.

50%

17%

20%

10%3%

10. TOKEN SALE


Token Sale 40%

Eco-System 20%

Partnership 10%

Payment Pool 10%

Reserve 10%

Team & Advisor 10%

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11. ABOUT BITZET

QIANCAO INDUSTRY LIMITED

UNIT 04, 7/F, BRIGHT WAY TOWER, NO.33 MONG KOK ROAD, KOWLOON, Hong Kong

One-StopTravel Service

Aviation Service E-Commerce

Business Field

Core Partners

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12. PARTNERS

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13. TEAM & ADVISOR

13.1 TEAM

13.2 ADVISOR

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13. TEAM & ADVISOR

13.1 TEAM

KIM BOSUNG CEO / Founder

• Current, Blockchain Marketing Planner

• Former, Management Consultant

• Former, Closed multiple M&A deal

• Former, Global Marketing Business Planner

KIM CHUL Head of China Branch / Founder

• Current, BIT TRIP / Head of China Branch• Current, AnnerBot / Partner • Former, Annergram / Advisor• Former, B:Stats partners/Director

KANG YONGSOO CFO

• Former, AutoCare Systems / CEO

• Former, Samsung Semiconductor Communication

• Former, Samsung Electronics

PARK CHANYEOL CMO

• Former, Hanin Soft Asia Representative

• Former, TUC TECH. CMO

• Former, Leader of Planning Team, Halla Group

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13. TEAM & ADVISOR

13.2 ADVISOR

KANG HYUNMIN Business Advisor

• Current, JFC Cahin / CEO• Former, Park Capital Korea / CEO

HONG SEOKJIN Air Business Advisor

• Former, Korea Express Air / Vice President• Former, Eastar Jet / Chief of Headquarter• Former, Yeongnam Air / Team Leader• Former, Hansung Air / AOC TFT Leader• Former, Jeju Air / Team Leader• Former, Asiana Airlines / Team Leader

KWON TAEHYUNG Business Advisor

• Current, B:STATS PARTNERS Inc./Co-Founder• Former, Sebak Group (Beijing) / Partner• Former, MobileTop / CEO• Former, Yeongnam Air / CMO• Former, DuO / Founding Member• Michigan State Univ. (U.S.)

JANG HYUNGRAE Business Advisor (Travel)

• Current, Nanuri Tour / CEO• Former, Tourcom / President of Travel Business Div.• Former, Onnuri Tour / Invited 20 Bill. KRW investment

Ranked No.1 at the section of the most sending travelers out

• Former, Hannam Tour / Most sending travelers to Thailand

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Please read the following notices CAREFULLY before participating in the token sales.

This notice is applicable to all readers of this white paper, and please keep in mind that the notification may be changed or updated.

If you are not sure about your future actions, we recommend you seek advice from legal, financial, tax and other experts.

All information provided from this white paper and web site is just for the reference, does not constitute any investment decision or concrete advice on ‘BZET’ purchase. In addition, all transactions, including purchasing and selling ‘BZET’, should be made under the transaction parties’ own responsibility.

Legal Notice

1. This white paper has been distributed for the ‘BIT-ZET' project and for general reference only and can be reviewed and modified. Please note this white paper reflects up-to-date information based on the version stipulated on the cover and is not final version. The information in this document can be changed depending on the business operation and financial status of ‘BZET’ after the version. This white paper can be updated irregular base.

2. No one has the obligation to enter into an ‘BZET’ sales contract or legally binding commitment and shall not receive any funding on the basis of this white paper. The sale of the ‘BZET' is made through a legally binding contract and details are provided separately from the white paper. In the event of a discrepancy between thecontract and the contents of this white paper, the contract shall be applied first.

3. In no event this white paper shall be construed as a token issuer/distributor/company's token sale or

purchase proposal for ‘BZET', and the presentation of this document or the document itself shall be based on

contract and investment decisions.

4. ‘BZET’ is NOT intended to constitute a unit of securities, business trusts or collective investment schemes, which are defined in accordance with the Hong Kong’s Securities & Futures Act or other equivalent provisionsin other jurisdictions. Therefore, this white paper is not provided as a business plan, a business manual, aproposal, etc. and no jurisdiction shall interpret this white paper as an investment proposal or solicitation suchas securities, business trust units or units of collective investment schemes.

5. ‘BZET’ shall NOT be interpreted, analyzed, classified or paid as an opportunity for Buyer to receive investment / Income / payment / profit or part of that amount.

6. The coin/token issue method specified in this white paper can not be reproduced, distributed or otherwise

disseminated in all or part of this document in regulated or prohibited jurisdictions.

7. The information in this white paper has not been reviewed, inspected or approved by the regulatory

authorities. These actions have not and will not be taken in any jurisdiction.

8. In case of wishing to purchase ‘BZET’, you must NOT understand, interpret, classify, or treat ‘BZET’ as follows

(a) any currency other than a cryptocurrency

(b) Bonds and shares issued by any institution

(c) Rights, Options, Derivatives on such bonds and shares

(d) The rights under the contract and other agreements for the purpose of assuring return on investment or

avoiding losses or impersonating them for this purpose

(e) Units or derivatives of securities including collective investment schemes and business trusts

14. LEGAL DISCLAIMERS

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Limitation on Distribution and Dissemination

1. Distribution or dissemination of this white paper in whole or in part can be prohibited and restricted by legal

or regulatory requirements of any jurisdiction. If restrictions apply, you should be aware of the limitations that

can apply under the possession of this white paper by yourself and seek advice from law, and comply with

them and QIANCAO INDUSTRY LIMITED’s executives, employees, agents or related parties (hereinafter

‘BZET’ and Affiliates') shall not be held liable for this.

2. Any distribution or dissemination of this white paper shall not allow or cause this white paper or its contents

to be shared by others, such as distribution, replication, or otherwise, for any purpose.

Exclusion of liability

1. The related services provided by ‘BZET’ and Affiliates' are offered the status of 'as is‘ and 'as available‘.

‘BZET’ and its Affiliates‘ do not explicitly or implicitly guarantee or describe the accessibility, quality,

compatibility, accuracy, adequacy, completeness of the tokens and related services. In this regard, ‘BZET’ and

its Affiliates' state that no liability shall be given to any error, delay, omission or action taken on it.

2. In any jurisdiction, ‘BZET’ and its Affiliates' do not bear responsibility of any liabilities on benefit, income, loss

or damage from trades of ‘BZET’ under the relevant liabilities, regulations, and rules in the maximum extent.

3. ‘BZET’ and its Affiliates‘ does not responsible for customers who have violated relevant laws.

4. Range of excluded liabilities: Every expense of claim, compensation, loss, and legal fee.

Future Forward-Looking Statements

1. This white paper contains future predictive statements based on the current statistic number and assumption,

but ‘BZET’ does not have a responsibility to bear any liability to update on website about any risk, uncertainty,

actual result, information of ‘BZET’ can give influence on future change or events and any other information

created by ‘BZET’

2. Future forward-looking statements contain various risks and uncertainties. These statements do not

guarantee future performance and therefore should not be relied upon too much.

3. Each solutions and platform of ‘BZET’ project are either complete or NOT fully operational as of the version

this white paper was created. The description on this white paper is written on the premise that the solutions

and platform will be fully completed and operational in the future, but this should not be construed as a

guarantee or commitment for completion of the solutions, platform and operation.


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Potential Risks

Before deciding whether to purchase or to participate in ‘BZET’, it is recommended that you read the followings

carefully and analyze, understand the relevant factors and risks. Risks include followings but are not limited to.

1. Risk of storage related purchasers' carelessness, such as limiting access to ‘BZET’ due to loss of identification

information, loss of essential private key related to digital wallet with ‘BZET‘.

2. Changes in political, social, or economic environment, changes in the market environment of the stock or

cryptocurrency markets; risk related to changes in regulatory environment in countries where ‘BZET and its

Affiliates' operate and to changes in the ability of ‘BZET' to survive or compete in these circumstances;

In certain jurisdictions may apply existing/new regulations related to blockchain technology, which is

disadvantageous to ‘BZET’, which may result in significant changes in the ‘BZET‘ ecosystem and projects

such as the abolition / loss of ‘BZET'.

3. Changes in the future capital needs of ‘BZET and its Affiliates' and changes in capital and capital procurement

potential to meet these risks and shortfalls can affect the use and potential value of each solutions & platform

of ‘BZET’ Project development and ‘BZET‘ itself.

4. ‘BZET’s activities can be suspended, dismantled or suspended due to various reasons such as unfavorable

changes in the value of ‘BZET’, failure of business relations, or intellectual property claims of competitors

during development / operation. As a result, ‘BZET’ ecosystem can potentially have a negative impact on the

potential use.

5. No other entity is entitled to make decisions regarding projects, ecosystems, etc. of ‘BZET’. All decisions,

including the discontinuation of BZET services, platforms and ecosystems, and the creation, sale, and

liquidation of ‘BZET' utilized in the ecosystem, are at the discretion of QIANCAO INDUSTRY LIMITED.

6. The tax and accounting practices of ‘BZET' may vary from jurisdiction to jurisdiction. Purchase of ‘BZET' may

have a negative impact on tax processing and is encouraged to seek independent tax advice in this regard.

In addition to the risks stated above, there are other risks that ‘BZET and its Affiliates’ can not anticipate.

The risks of unexpected combinations and variations can also emerge. If the above risks and uncertainties develop

into actual situations, the business, financial position, operating results and prospects of the ‘BZET and its

Affiliates' can be affected in a practical and negative way. You may lose some or all of the values of ‘BZET’.

ICO Participation Restriction

1. 'BZET’ is not allowed to participate directly or indirectly in the ICO by U.S. citizenship holders, residents or

permanent residents of countries that prohibit ICO participation.

2. ‘BZET’ will not be returned in any circumstances, except if the sales rate is below 10% after ICO completion.

3. Details of the refund process will be updated on the website or other materials.


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Governing Law

QIANCAO INDUSTRY LIMITED. is established in Hong Kong and this white paper is interpreted and regulated in

accordance with Hong Kong’s laws.

No additional detailed information and no update

No person shall be authorized to provide information / explanation except for the contents contained in this white

paper for “BZET and its Affiliates" and related projects and operations, and even if provided with this information /

description, You should not be considered to represent them.

No consultation

No information in this white paper is considered business, legal, financial, or tax advice for “BZET and its Affiliates".

We encourage you to seek advice from other experts, such as law, finance, tax, etc., regarding to ‘BZET and its

Affiliates' and related businesses and operations. The financial risk of purchasing ‘BZET’ can apply indefinitely.

KYC Compliance Statement

Customers participating in the sale of ‘BZET’ must comply with the verifying real name procedure (KYC)

regulations and any other applicable regulations after the crowd sale for identification purposes. ‘BZET’ will do its

best to provide convenience and reliability to customers based on mutual trust as follows.

1. ‘BZET’ complies with ICO related laws such as KYC, Anti-Money Laundering Act (AML).

2. ‘BZET’ complies with the Privacy Act to protect customer's personal information including user registration

information.

3. ‘BZET’ will use the KYC personal information collection as information for the O2O tokens sale only and will

discard the documents submitted for KYC after ICO closing.


Thank You

www.bitzet.io

2020 Ⓒ QIANCAO INDUSTRY LIMITED. ALL RIGHTS RESERVED.

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