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WHITE PAPER
Blockchain Ecosystems
March 2019Version 2.0
HWGG CAPITAL P.L.C
IMPORTANT NOTICE
PLEASE READ THIS SECTION AND 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”, “NO ADIVE”, “NO FURTHER
INFORMATION OR UPDATE”, “RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION”, “NO
OFFER OF SECURITIES OR REGISTRATION” AND “RISKS AND UNCERTAINTIES” CAREFULLY
IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT
YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S).
The HWG Cash tokens are not intended to constitute securities in any jurisdiction. This Whitepaper
does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer
of securities or a solicitation for investment in securities in any jurisdiction.
This Whitepaper does not constitute or form part of any opinion on any advice to sell, or any solicitation
of any offer by the distributor/vendor of the HWG Cash tokens (the “Distributors”) to purchase any
HWG Cash tokens nor shall it or any part of it nor the fact of its presentation form the basis of, or relied
upon in connection with, any contract or investment decision.
The Distributor will be an affiliate of HWGG Capital P.L.C and will deploy all the proceeds of the sale of
the HWG Cash tokens for utilization of the payment ecosystem by the company.
No person is bound to enter into any contract or legal commitment in relation to the sale and purchase
of the HWG Cash tokens and no cryptocurrency or other form of payment is to be accepted on the basis
of this Whitepaper.
Any agreement as between the Distributor and you as a purchaser, and in relation to any sale and
purchase, of HWG Cash tokens (as referred to in this Whitepaper) is to be governed by only a separate
document setting out the terms and conditions (the “T&Cs”) of such agreement. In the event of any
inconsistencies between the T&Cs and this whitepaper, the former shall prevail.
BLOCKCHAIN ECOSYSTEMS 01
BLOCKCHAIN ECOSYSTEMS 02
HWGG Capital P.L.C’s vision is to have assets on blockchain be not only available to industry insiders,
but rather something that can be used by any individual in the “real world”.
Additionally, with the emergence of more and more different tokens, a growing number of users and
businesses truly struggle to leverage on the existing infrastructure to make this interconnectedness of
physical and virtual platforms become a reality.
At HWGG Capital P.L.C, we strive to offer the user access to as large as possible a range of blockchain
assets at a maximum degree of convenience, while adhering to the highest security standards in the
ecosystem.
We are able to do this by integrating the blockchain technologies, introducing a fiat-pegged cash token,
HWG Cash and leverage on our network of online/offline businesses, remittance/currency exchange
providers and digital currency exchange platforms to form a solid, worldwide, instantaneous and
low-cost manner blockchain ecosystem.
To complement the usage of HWG Cash, we developed the HwgPay app, a blockchain payment system
which wallet system that can be funded not only with blockchain assets such as Ethereum (ETH) and
HWG Cash (HWGC) as currently possible, but also with virtually any blockchain asset in time to come.
Moreover, users and businesses can exchange their blockchain assets seamlessly from one user to
another in a lightning fast, secure and decentralized manner, removing any risk that is usually associated
with centralized solutions.
We believe by introducing a fiat-pegged cash token to the mass market is the solution to the current
barrier of blockchain assets adoption in the market. The main point that we are addressing here is the
inability to do blockchain assets settlement quickly and safely due market risks such as high volatility in
pricing and unstable liquidity.
Introduction
HWGG Capital P.L.C“Asia’s First Stable Cash Token”
BLOCKCHAIN ECOSYSTEMS 03
A digital token backed by asset provides individuals and organizations with a robust, secure and
decentralized method of exchanging value while using a familiar accounting unit. Common reasons for
the limited mainstream use of blockchain assets are the lack of knowledge of the technology, insufficient
ease-of-use for non-technical users, and volatile fluctuation in pricing, making it almost impossible to be
used for instant settlements.
Recognizing the need for a solution, HWGG Capital P.L.C introduces HWG Cash by leveraging on the
public blockchain technology, to transact in familiar, less volatile manner. All HWG Cash tokens are
issued on the everiToken public chain so they exist as a non-fungible token on a lightning fast network.
On top of that, each HWG Cash token issued into circulation is backed in a one-to-one ratio (ie. One
HWGC : One USD) by the corresponding fiat currency unit held in deposit in our designated bank
account by our licensed entity HWGG Capital P.L.C.
Our implementation has the following advantages for our users:
• HWG Cash is a public chain token that is built on the everiToken public chain, a world’s first token-customized public chain for the token economy: a public chain that is designed without any possibility of downtime, censorship, fraud or third-party interference.
• HWG Cash can be used just like other digital assets like Bitcoin and Ethereum, ie. In a p2p, pseudo-anonymous, decentralized, cryptographically secure environment.
• HWG Cash can be integrated with merchants, exchanges and blockchain wallets.
• Assets such as fiat currencies exchanged for HWG Cash are held by HWGG Capital P.L.C, a regulated entity under the Labuan Financial Services Authority, licensed for fiat/cryptocurrency broking, issuance of credit token and payment operator.
• HWG Cash’s one-to-one backing implementation is easier for non-technical users to understand as opposed to collateralization techniques or derivative strategies.
• HWG Cash can be easily utilized by users and implemented by merchants/vendors to facilitate payment settlements without having to bear the volatility of price fluctuation.
• HWG Cash provides liquidity for blockchain asset users in the Asia region.
Users can purchase HWG Cash from Ho Wah Genting Group directly (issuance through our mobile app)
or from supported exchanges. Users can also transact and store HWG Cash with any blockchain wallet
like HwgPay. Exchanges, wallets, merchants and vendors are encouraged to reach out to us about
integrating HWG Cash as a digital assets’ payment solution.
HWG Cash: Integrated digital-to-fiat currency on public blockchain
HWG Cash
BLOCKCHAIN ECOSYSTEMS 04
With the constant development in the blockchain industry, there are many public chains with different
functions and priorities available to build our services on. With security, speed and ease of use in mind,
we have chosen to use everiToken Public Chain as the core blockchain foundation for our HWG Cash
tokens.
With our issuance of HWG Cash on the everiToken Public Chain, we can instantly gain the advantages
of the following:
With such benefit and synergy to our core business model being a payment operator, we believe the
everiToken public chain is well suited to our project. On top of that, HWG Cash is developed separately
to be featured as everiToken public chain’s main token. This will help to boost the market exposure with
PR and Marketing effort from HWGG Capital P.L.C and also the promotion of everiToken Public Chain
by everiToken AG.
• Instant Clearance : A transaction is a settlement.
• Decentralization: P2P payment, no centralized platform, no one can modify the data on chain, everyone can participate in pricing.
• High Security: The data and content in the blockchain cannot be forged or tampered with, so as to maximize the protection of user's property security.
• Convenient: Even without connection to the Internet, users can complete the transaction.
• Ease of Use: Merchants can perform pull transaction from users’s dynamic QR code.
• Lightning Fast : HWG Cash has achieved high TPS, we think that a transaction can be completed within 1 - 3 seconds considering the situation of equipment and network.
HWG Cash on everiToken Public Chain
Instant ClearanceConvenient
Ease of Use
Lightning Fast
DecentralizationHigh
Security
BLOCKCHAIN ECOSYSTEMS 05
Here is review of each layer.
1) The first layer is the everiToken public chain. The HWG Cash transactional ledger is embedded
in the everiToken public chain as meta-data, with its nodes storing the most recent state of each
transactions.
2) The second layer is the HwgPay Wallet. HwgPay wallet implements a foundational technology that can:
a) Decentralized blockchain wallet with private key stored in users’ devices for personal securities.
b) Track and report the circulation of HWG Cash via HwgPay transaction history and in the everiToken network via https://evtscan.io
c) Enable users to transact and store HWG Cash and other blockchain assets in a: I) P2P, pseudo-anonymouse, cryptographically secure environment. II) Multi-signature
3) The third layer is HWGG Capital P.L.C’s compliance to Labuan Financial Services Authority’s regulation and guideline for: a) Accepting fiat deposits and issuing the corresponding credit token: HWG Cash
b) Sending fiat withdrawals and revoking the corresponding credit token: HWG Cash
c) Grant (creat) and revoke (destroy) digital tokens represented as meta-data embedded in the Ethereum blockchain; in this case, asset backed digital tokens, HWG Cash.
d) Custody of the fiat reserves that back all HWG Cash in circulation
e) Initiating and managing integration with existing blockchain wallets, exchanges and merchants (including currency exchanger and remittance providers)
HWG Cash Technology Stack
Layer 1
Layer 2
Layer 3
Ethereum Blockchain
HwgPay Wallet
HWGG Capital P.L.C
Other Features
HWGC Circulation
Records
Peer-to-peer Transfer and
Storage
DecentralizedBlockchain
Wallet
Other Services
HWGC on Exchanges
Integrationwith Merchants
LicensedEntity
HWGC to Wallet
Moneybroking for
Cryptocurrencies
Custody ofFunds
BLOCKCHAIN ECOSYSTEMS 06
The HwgPay Wallet HWG
PAY
MoreBlockchain
Assets
The HwgX Wallet is an initiative from HWGGC to
introduce blockchain assets spending through
users’ smartphone. Paired with the company’s
own utility blockchain asset, HWG Cash, it is our
vision to bring blockchain assets spending into the
mainstream and be accessible to the public. The
first version of HwgX will focus on storage and
transferability with additional function to be
updated later in the project roadmap.
The HwgPay is available for download on the
Apple App Store and Google Play Store for free.
Once the user has downloaded the HwgPay app,
he/she can easily set up an account by entering
his/her preferred password. Users are
encouraged to keep a physical copy of the
Mnemonic Passcode for restore/security
purposes. Smooth, simple, and safe.
8:21
The HwgPay wallet is created for sending,
receiving and making payment with
digital assets only and does not hold any
fiat currencies at the moment. It is in the
pipeline of our HWG Cash project that we
will enable users to convert their
cryptocurrencies to fiat currency upon
securing the appropriate partners for the
conversation. In the next update, HwgPay
app will incorporate conversion from one
digital asset to another digital asset as
well.
A multi-cryptocurrency wallet will be created automatically, which the users can instantly fund in
using Ethereum, HWG Cash and any other ERC-20 Compliant tokens. The private key to each
HwgPay Wallet is generated and attached to users’ mobile phones, thereby allowing users to store
their own private keys for enhanced security purposes.
BLOCKCHAIN ECOSYSTEMS 07
8:21
8:21
HWGG Capital P.L.C is a part of the Ho Wah Genting Group of companies. Our group’s experience and foundation
were built from the travel and entertainment industry itself, catering to end market users with different needs
and wants ranging from budget to luxurious tailored program.
For many years we have been offering exclusive travel products, entertainment packages and rewarding
membership programs to the mass market. With increased competition in the travel and entertainment
industries, we believe innovation and adaption to new technologies are essential to keep our business ahead of
the tide.
With the launch of HwgPay wallet and introducing our fiat-pegged HWG Cash tokens, we are in the right path to
incorporate the world of travel and entertainment with fintech for the benefit and convenience of end-users.
Being a travel agency and junket operator ourselves, the company and associated partners will enable the
acceptance of HWG Cash as payment solution for all our products and services at launch. Users will be able to
utilize HWG Cash to transact for purchasing of tailor-made travel packages or even for entertainment services
provided by our partnering entities such as the Resorts World Manila, Starcruises, Genting Dream and many more
BLOCKCHAIN ECOSYSTEMS 08
Entertainment, Travel, & Rewards
HWG Cash Current Ecosystem
Travel Entertainment
BLOCKCHAIN ECOSYSTEMS 09
With HwgPay wallet fronted as the infrastructure of HWG Cash tokens, users will be able to convert
blockchain assets for products or services anytime everywhere around the world within the fingertip.
Coupled with HWG Cash tokens of 1:1 ratio to US Dollar currency, it opens up the usability and
acceptancy of blockchain assets to the public for conventional transactions.
A simple illustration below will outline how user can start buying HWG Cash and to use HwgPay wallet
for usage like sending, receiving, and withdrawing of blockchain assets to fiat.
Riding on the strong foundation and experience of Ho Wah Genting Group in entertainment and travel
industry, there will be a ready ecosystem for users to spend their blockchain assets using HWG Cash
tokens for travel services, entertainment packages, and membership programs right away.
It is in within the company’s pipeline that the ecosystem will gradually expands when more mainstream
merchants and service providers onboard to accept HWG Cash as one of the transactions mean. This
mean user, eventually, will be able to use HWG Cash in wider spectrum not just big purchase but to
everyday small payments.
HWG Cash as the new fintech towards into the mainstream for general usage.
Making HWG Cash for Everyday Usage
P.L.CHWGG CAPITAL
Purchase with USD or Bitcoin
Withdraw cash or exchange with Bitcoin
HWG Cash will be issued into your HwgPay wallet
1 HWGC : 1 USD
Store
MakePayment
Receive
Send
Entertainment Travel
ExchangeRetail
Food & Beverage
Product & Services Conversion
$Withdrawal
C$
HWGG Capital P.L.C (HWGG Capital) is a leader in blockchain payment solution based in the Federal
Territory of Labuan, Malaysia. Founded in 2017, HWGG Capital P.L.C is a licensed entity for Money
Broking for Digital Assets, Credit Token Business and Payment Operator by the Labuan Financial
Services Authority. With its Money Broking for Digital Assets license, the company provides an
Over-The-Counter platform to facilitate trading of fiat currencies and digital assets including but not
limited to fiat-to-fiat, digital assets-to-digital assets and fiat-to-digital assets.
The company has also obtained licenses as a credit token business and payment operator, which allows
the company to issue Asia’s first stable fiat-pegged tokens and develop its own blockchain payment app
to introduce and connect the mass market users to digital assets payment solution. HWGG Capital P.L.C
is committed to building the next generation digital asset payment solution for mass adoption of
merchants and users, locally and internationally. For more information about HWGG Capital P.L.C, visit
their official website at www.hwggcapital.com or www.hwgcash.com
BLOCKCHAIN ECOSYSTEMS 10
About the Company
Advisor Core Team Member Core Team Member
Pehin Sri Dato Lim Hui Boon
Pehin Sri Dato Lim Hui Boon
is the Group President of
Ho Wah Genting Group of Companies, Vitaxel Group (USA) Limited and Vspark Group. He has more than hospitality, property, resorts, travel and tours, manufacturing and fintech. He serves as the main advisor to HWGG Capital P.L.C in dealing with corporate exercises, strategies and financial aspects of the company's operation.
Gavin Lim Chun Hoo Chief Executive Officer
BA(Hons) in Finance and
Investment Management.
Prior to joining the group in2015, he started his career as a finance executive in a cable manufacturing company for 3 years before joining Public Bank Berhad as a stock broker. He is currently the CEO of Ho Wah Genting Group (USA) Limited. He is the key force in driving the company's blockchain projects overseeing the operation, development and marketing.
Yoshikazu Nishimura Chief Technology Officer
B.S. in Mathematics & M.S.
in Computational Molecular
Biology. Started career as a database consultant Oracle. Won the Best Innovation Award at Global Blockchain Summit 2016 in Shanghai.Published "Blockchain Application for Beginners - Smart Contract Development on Ethereum" (SHOEISHA in 2017) . He serves as the chief technology officer of the company overseeing the blockchain ecosystems development includingHwgX Wallet.
Credit Token License
BLOCKCHAIN ECOSYSTEMS 11
HWGG Capital P.L.C (HQ)
Lot 2-15, Labuan Times Square,
Jalan Merdeka, 87007
Labuan F.T., MALAYSIA
Tel: +6087 - 410 913 / 410 923
Email: info@hwggcapital.com
Ho Wah Genting Group Sdn Bhd
(Marketing Office)
WISMA HO WAH GENTING,
No.35, Jalan Maharajalela
50150 Kuala Lumpur, MALAYSIA
Tel: +603 2148 2288
Email: info@hwgcash.com
Offices & Contacts:
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