White

WHITEPAPER VERSION 1.6 BETA

Table of Contents

3. Introduction

4. Executive Summary4. The history of Money. Why Cowrium / Cowrie!5. Past: What do we mean by Money?6. Present: Leather and Paper Money.6. Future: Electronic Money, Virtual / Cryptocurrency and Blockchain Technology7. Cryptocurrency and Blockchain Technology7. Smart Contract and the new generation of Cryptocurrency8. What is Cowrium?8. What is Cowrie?

11. The Cowrium Market Context

15. The Cowrium Ecosystem

20. Cryptocurrency Industry Overview

21. Why invest in Cowrium?

22. Cowrium project roadmap

23. The Cowrie Coin sale:23. Cowrie Coin Sale Pricing and Release Schedule24. Unsold coins24. The Cowrie Coin Sale manager

25. Coin Allocation and Fund Distribution25. Fund Allocation25. Use of Proceed26. Coin Allocation

27. The Cowrium Team

28. Go Live! (After Token Sales)

29. Conclusion

Introducing CowriumThe World’s First Mass Cryptocurrency focusing on the SMEs

Cowrium, built on blockchain technology, is being developed with theexplicit intention of gaining mass adoption via the over 90% of people thatconstitute the business world through Small and Medium Enterprise. A globallaunch is expected on January 1st, 2019 to be preceded by a pre-sale andcoin sale between September and December respectively which represents aunique opportunity.

Cowrium is a multidimensionalsmart contract, cryptocurrency anddecentralized Blockchain project.

Cowrium is the home to the cryptoCowrie; name adopted fromancient African and Indo-pacificcivilization: a marine molluskwhich has a glossy brightlypatterned domed shell with a long,narrow opening used as money,now being developed into a uniquecryptocurrency, represents anothervast leap forward; it offers buyersthe opportunity to become an earlyadopter of what is likely to be asignificantly disruptive technology.

Where previously cryptocurrencyusage has been almost entirely thedomain of speculators and thetech-savvy, Cowrium is set tobecome not just a platform toredefine Organizational businessstructure through its SmartContract Platform but also itsnative cryptocurrency, Cowrie as adigital coin to enter everydayusage due to its groundbreaking

ease-of-use for the ordinary mobileand general internet user.

A single-minded development teamis being built behind it, with theclear goal to break into anddominate the online and mobilecurrency market.

Key feature of Cowrium and its native Coin Cowrie include:

Cowrium Platform• Independent Purpose-BuiltBlockchain • Multicurrency ICO Platform• Multicurrency Payment Solution• Smart Contract Library • 2Hop Proof of Work vs Proof ofStake • Desktop, GPU and Mobile Mining• Stacking• Atomic Swap• Intelligent Pooling System• Industrial Performance andScalability• Enterprise Private Blockchain

• Support for multiple cryptographic algorithms, signing &address • Recurring & Scheduled Payments• Comprehensive Rewards System

Cowrie• Maximum coin volume of 27billion, • Smart wallets (Browser VsMobile). • GPU, Desktop and Mobile miner. • Micro fast transactions btwdifferent Apps

Interconnected Applications• Decentralized Asset ExchangeSystem• Interoperability between theConventional Ledger and OldLegacy System (Banking) Vs theNew Ledger (Blockchain)• ErrandBoy 1.0This Whitepaper outlines in detailthe concept and planning behindCowrium, it’s native cryptocurrencyCowrie and the enormousopportunity forth coming Pre-ICOand ICO between September andDecember.

Executive SummaryWhat is money?

There are numerous myths about the origins of money. The concept ofmoney is often confused with coinage. Coins are a relatively modern form ofmoney. According to Wikipedia, history of money began around 2500 yearsago with the first minting of coins in about the 7th to 6th century BC.

Past: What do we mean by money?

Considering the earliest way ofusing money, it’s somethingvaluable. With years, the materialform of money has changedconsiderably - from barter, Cowrieshells, metal money and to today’selectronic currency. At primitivetimes there was no notion of“money”. Primitive people did notbuy goods, they used: “Trade bybarter”. Barter is the exchange of

goods or services for other goodsor services. Even in America barterin form of tobacco leaves andanimal skins, served pioneercolonists as money. The problemappeared when those who bartereddid not agree with the value ofexchange. To solve that problempeople invented money in the formof Cowrie shell.

In 1200 BC Cowrie shells gainedpopularity as new currency; in factthe first currency. During that timemany people and even societiesused cowries as money in ancientChina, Korea, India, Thailand,African countries (Ancient Beninand entire Yoruba Kingdom), etc.Even in the middle of this centurythere were some cases fixed whencowries have been used as moneyin some parts of Africa. At the nexthistorical stage of the development

of money, coins have taken strongposition in the economics of manycountries. In the VII century BC agroup of seafaring people calledthe Lydians, first issued and usedfirst metal money - coins in Lydia,the ancient country in Asia Minor.First coins had a shape of a bean.Then Greeks started to mint coinsand in about 100 years coinsbecame widespread in Greece, Italyand in Asia Minor.

In short Money simply could be described as a way of storing value; value in form of hard-work inexchange for another person’s hard-work.

Executive SummaryWhat is money?

Present: Leather and Paper Money

According to historiansapproximately in 118 BC leathermoney was issued in China. Thisform of money was implemented ineveryday life of people and couldbe considered the first documentedtype of banknote.

The Chinese also were the first whostarted to use paper money andthat’s why it’s called the Chineseinvention. First banknotesappeared in China in about 806 AD.The Chinese put the emperor's sealand signatures of the treasurers ona crude paper which was madefrom mulberry bark. Later in 15thcentury, the Chinese stopped usingpaper money for several hundredyears. In 18th century papermoney appeared in Europe andthen paper money becamewidespread all over the world.

Nowadays coins and banknotes ofa particular government are calledcurrency. Currently every countryhas its own currency, and groups ofcountries have mutual currencies.At this present time there is list of182 current official or de facto

currencies of the 193 UnitedNations member states. There arefew of them which are popular inusage, trading, conversion, etc.:

Bank Notes today; also known ascurrency is simply paper otherwiseknown as Fiat currency. FiatCurrency used to be backed bygold until recently; the goldstandard ended in the UK in 1931and the US in 1971. Fiat has nointrinsic value! One of the biggestproblems with Fiat is that thegovernments can print morewhenever they want and the moremoney printed the more the storeof value is decreased with theincrease of supply (of recent is theZimbabwe hyperinflation).

Electronic Money andVirtual Currency

In 1861 Western Union introducedthe telegraph transfer of moneythat became the dawn of electronicmoney. In 1991 Advanced ResearchProjects Agency has introducedArpanet network - network of a setthat composed the global Internet.In 1992 America Online tookadvantage of the new Internet and

started offering retail servicesdirectly to their subscribers, peoplecould pay using a credit card.PayPal was launched in 1998,making payment processconvenient and easy with less riskof credit card number theft.

Much earlier before the internetpeople have being exchanging Fiatcurrencies between themselveselectronically by relying on a third

party (a bank) to store ledgers ofthe money. The bank stores adigital number (the amount ofcurrency one person has) and theyinform another bank that some ofthat money has been sent tosomeone else. One ledger isdecreased and another increased.All of the existing digital exchangeof money is done by third partytrust in banks.

The question is: why do we needthe bank to do the transferbetween two people. The answer isTRUST. Trust comes into playbecause everything that’s digitalcould be copied, on the other hand,it means it could be Pirated. Whydirect peer to peer transfer isimpossible in the past is because ofDouble Spending Problem.Digital currency needed a trustedparty to make that happen untilCryptocurrency. Cryptocurrencysolved the Double SpendingProblem and in solving it, hasopened up a radical new way ofthinking about store of value, trustand convenience.

Cryptocurrency andBlockchain Technology

Satoshi Nakamoto Introduction ofBitcoin (the first successfulcryptocurrency) and the BlockchainTechnology a disruptive technologyushered in a new dawn for theMoney Market.

Satoshi’s CryptocurrencyBlockchain Technology didn’t just

solve the Double Spending problembut also a whole lot of problemalongside, with the currency ledgernot controlled by a centralauthority or accessed by just fewindividual or organization,everyone who uses the currencyhas a copy of the ledger as well ascontrol it with the currencymanaging itself.

Smart Contract and thenew generation ofCryptocurrency

In such a short periodcryptocurrency has evolve with theintroduction of smart contract andother great features. Ethereumblockchain project led by VitalikButerin usher in the secondgeneration of blockchain with its’smart contract platform. The needfor smart contract is

A smart contract is a computercode running on top of ablockchain containing a set of rulesunder which the parties to thatsmart contract agree to interactwith each other. … The smart

contract code facilitates, verifies,and enforces the negotiation orperformance of an agreement ortransaction. – Wikipedia

A small example of smartContract: The popular vendingmachine example. It’s beingaround for a while and all it does isto dispense things automatically.

One day you find yourself in frontof one. It says: “If you give meUSD3, and press this button, youwill get a Pepsi.” This is a simpleagreement.

You put the money in the specifiedhole. Press the button! A Bottle ofPepsi is delivered to youimmediately.

This is Smart Contract as simple asit could be but digitalized on theblockchain platform through asmall program(“contract”)coded(“written”) into the machinebeforehand that ran when you hitthe button(“signed off on it”). Thisseem simple enough but imaginewhen applied to even bigger casesas Real Estate, Hospitality,Construction etc.

From Bitcoin to Ethereum to Rippleto Electroneum the story ischanging and consequently acolossus in disruptive innovation isborn with the name Cowrium.Cowrium houses Cowrie whichrepresents a blast from the past,ready to redefine the future

The whole process might soundcomplicated but not to worry. Youdon’t need to understand how anairplane is being made anywaysbut you make use of it as a meansof transportation, the same is trueof cryptocurrencies, and they aregetting more accessible with eachforward step of the technology.

Cowrium is a 3rd generationBlockchain Cryptocurrency Platformwith its’ native CryptocurrencyCowrie. It’s pronounced “KOW +REE”.

It is being designed with estimated3 billion everyday online / smartphone users around the world inmind giving power back to thepeople both from the organizationand individual perspective. Tounderstand how and why Cowriumis ahead of its peers see TheCowrium Ecosystem on Page11.

Executive SummaryCowrium as an Innovative disruptive platform!

What is Cowrium?Cowrium is an all encompassing digital economy powerhouse, building thefuture of Cryptocurrency, a Multidimensional Decentralized BlockchainPlatform and home to Cowrie its native cryptocurrency purposelyencouraging SMEs and giving power back to the people either as Consumersor Merchants with the ability to buy products/services and accept paymentthrough cryptocurrency of their choice respectively. The Platform isconsciously sensitive to the plight of consumers, merchants andinnovator/developer.

Our plan includes the development and deployment of our own independentpublic blockchain that uses a 2Hops POW/POS consensus model, SmartContract with a Library to access similar earlier built Contracts. Developmentof enterprise level private blockchain and atomic swap borderlesstransactions. However, Cowrium also aid transactions with varieties ofcryptocurrencies, i.e. BTC, BCH, LTC, ETH, etc. thereby removing limitationsICOs encounter from the process of their initial launch.

Word of mouth has proven to be the best marketing technique of all time,therefore loyalty and referral reward program is not exclusive for Customersbut also merchants, with this a perfect synergy is being created in achievingour goal of becoming a household name.

Considering our major goal of making Cryptocurrency a household namethrough Cowrium starting with our mass oriented cryptocurrency Cowrie, itsunique mobile mining ability, consumer-merchant payment solution,multipurpose multidimensional multicurrency responsive platform, the finalreward is to have a place where individuals and organization can capitalizeon transparency, satisfaction and security that cryptocurrency andblockchain provide.

Cowrium is not just a repository focused on customers, merchants cumenterprise satisfaction but also technological innovation that aids therevolution of the blockchain technology in different dimension. Cowrium isthe only Blockchain protocol whose focus is not just on the Merchants orConsumers or Technology but all encompassing, putting into considerationthe uniqueness of each and implementing simple yet disruptive solutionsaccordingly.

Some of Cowrium's technological innovation, adaptation and implementationincludes the use of Intelligent Pooling System which aids the prioritization oftransactions, the result is keeping transaction fee very low. Hyperblocktechnology which compresses transactions regularly, reducing Blockchainsize to amount of accounts in it thereby saving upto 96% RAM space.

Quantum attack protection through the use of multiple cryptographicalgorithms, signing & address formats (Including RSA, SHA224, ECDSA(SECP256k1) & BLAKE2b).

The development team consists of a growing youthful team globally who arein tune with the workings of Blockchain, fast revolving technologicalinnovation and the world we live in today and how it’s shaping.

Executive SummaryCowrie, the native cryptocurrency of Cowrium!

What is Cowrie?Cowrie name adopted from ancient African civilization: a marine molluskwith glossy brightly patterned domed shell and a long, narrow opening usedas money; traced back to Africa and the Indo-Pacific area. The adoption is asa result of the unique conventional means of extracting the first currencyCowrie then used as money. The process of getting the Cowrie today isknown as mining.

Cowrie is the native cryptocurrency of the Cowrium platform that is beingdeveloped to allow anyone, regardless of ability, easy access to acryptocurrency. With Cowrie anyone who can operate a Computer or Smartphone and other smart mobile devices within a few minutes of installing theapplication can see Cowrie being added to their wallet. Cowrie will beobtainable not just via GPU and Desktop Mining but also through mobilemining experience that will be made available in the app store.

We are developing a fully functioning crypto coin with some very uniquefeatures. We’ve identified multiple enormous markets and we are creating afree Apple, Android, Windows app that allows us to start penetrating thosemarkets from day one after the coin sale (1st January 2018). Just like theCowrium platform the native cryptocurrency Cowrie is being designed withthe masses of consumers, Merchants cum Enterprise, innovators anddevelopers in mind and this is the game changer.

The Cowrium Market ContextCowrium: The Ecosystem!

The prevalent rise in the use of mobile devices to pay for commodities and utilities as well as the growing preference for digital payment systems has led to the prognosis that global mobile transactions will be in excess of $1 trillion by 2019. Some of the factors driving the retail and consumer paymentsystems’ wheel are subsequently exposited.

Increased Universal E-CommerceAccording to a 2017 PwC report, 56% of 24,000 global shoppers surveyed chose Amazon as their preferred e-commerce retailer. Amazon is currently ranked 19th in global traffic with direct traffic exceeding 1 billion monthly while Alibaba is ranked 253rd most popular site worldwide with about 216 million monthly traffic. Both are currently world’s largest e-commerce retailers.

In terms of total market share, e-commerce accounted for 10% of the total global retail sales in 2017 and is anticipated to rise to 15.4% over the next three years. Consequently, e-commerce trading exceeded $2.2 trillion and will likely attain $4.5 trillion by 2021. Hence, e-commerce keeps increasing with respect to total global sales.

Consumer MotivationMost shoppers still tend to prefer the in-store shopping despite the rising trend in e-commerce. However, a survey by American Express in 2017 showed that 79% of buyers who had preference for in-store purchase would have a re-think if free-delivery was offered.

Furthermore, within the last 12 months, 73% of the respondents had made online purchase and an additional 2% would shop online if given discounts. 50% of the respondents said they would make an online rather than an in-store purchase if given exclusive guerdons.

In essence, consumers tend more towards online purchases other than the traditional system when provided with incentives.

Payment MethodsThere are different means of secured and fast payment of goods and services which include debit cards, credit cards and digital payment methods. As reported by Capgemini, the total global non-cash transactions were $522 billion in 2017, and this number is likely to reach $725 billion overthe next two years. Emerging markets in Asia will drive most of the non-cash transaction growth; but other regions, i.e., Europe, North America, Latin America, Central and Eastern Europe, Middle East and Africa will contribute between up to 10% of the expected compound annual growth rate (CAGR) bythe year 2020. Mobile payments will continue to rise at a CAGR of

approximately 22% as supported by the increased proliferation of mobile devices and mobile payment applications.

Consequently, cash transactions are fast becoming less relevant. In a survey conducted by TSYS, 40% of the respondents reported credit card being their main method of payment, with 35% opting for debit cards. Cash usage however came in at just 11%.

Digital PaymentDue to the increase in the number of alternative payment types, traditional means of online payment, like credit cards, are plummeting as they struggle with competition that proffers increased user-friendly interface, reduced cost and better security. Koley reported that although both Visa and MasterCard are still experiencing healthy growth rates at 9.5% and 9.6% respectively, and happen to be the preferred method for offline point-of-sale (POS) transactions, firms like UnionPay and JCB supersede them, growing at 44.8% and 20.7% respectively.

Apple Pay, in the race for consumer appeal, isn’t as popular with consumers, even though it is quickly gaining momentum as regards retail payment. 37% of retailers affirmed that they allow Apple Pay for consumer purchases, and an estimated 77%, over the next three years, are likely to incorporate it into their payment system. In a 2017 report issued by Market Force, 67% of the 6,500 banking customers who were polled for the survey chose PayPal as their number one choice for making digital payments. Apple Pay was chosen by only 39% of the respondents, which was a 5% decrease from the previousyear.

PayPal’s digital payment system which presently boasts of 227 million activeregistered user accounts worldwide is one of the most widely known. As of December 2017, 37% of North American retailers accept PayPal as a viable payment method for goods and services, with another 34% planning on adopting PayPal’s system within the next one to three years.

From the foregoing, PayPal, which was originally meant for facilitating eBay transactions, is now one of the major players in online payment. This is an indicator of altered consumer behaviour including a perceived viable alternative to credit cards and a gradual change in the payment market. Furthermore, new firms that are home to completely different industries thanbanking, like Google and Apple, proffer solutions that have already amassed an heightened level of user acceptance and dissemination among businessesand the society.

Market Analysis SummaryAlthough digital payment is gaining popularity among merchants and consumers, yet, the main methods for online and digital purchase still involve the use of credit and debit cards. Assuredly, with technological advancements in terms of contactless payment systems, wearables,

blockchain-based payment systems and cryptocurrency penetrating the market, merchant-consumer transactions protocols are inevitably set to witness disruptive transformations. Nonetheless, both the current payment mechanisms and the use of cryptocurrency as a means of peer-to-peer payments, have their attendant challenges. The very essence of these solicitude bothers on security and cost of transaction.

TRADITIONAL PAYMENT SYSTEM CHALLENGES

Expensive Processing FeesConsumers are influenced by discounts and rewards. TSYS in its report, averred that about 60% of credit card users were more likely to go for a credit card based on the type of reward offered for its usage. In addition, cash back and discounts with specific merchants ranked the highest in terms of the usefulness of the credit card. There is a clear trend with consumers that primarily focuses on cost.

Nonetheless, retailers are also intermediary consumers within the payment processing chain. Credit card processing fees vary based on links involved in the transaction chain, i.e., the credit card processor, payment gateway, credit card issuer, and the issuing bank; but the average range falls between 1.5% and 3.5% per transaction. This does not include any of the payment gateway or credit card processing fees, which can also vary and are determined by the contractual agreement between the retailer and the payment system vendor.

Therefore, the retailer has two choices: absorb the loss or pass the cost onto the consumer. With the increasing demand for faster, more efficient, and highly secure payment methods, coping with technological advancements and their associated costs is placing a burden on small and medium scale enterprises (SMEs). This is being worsened by mitigating the risk of fraud stemming from both consumers and potential hackers and probable consumer chargebacks.

Chargebacks, Imposture And FraudChargebacks happen when a consumer initiates a transaction dispute through either their credit card issuer, digital payment provider, or bank. Each payment method provider has a specific set of rules for approving a chargeback. While this helps to reduce fraud on the merchant end of the transaction, chargebacks can also be used as a tool for making fraudulent purchases, and merchants are left to absorb the cost of the merchandise and/or service along with the transaction fees levied by payment processors,banks, and the card issuer.

The estimated chargeback revenue loss was $6.7 billion in 2016 with 71% of that loss emanating from “friendly/chargeback fraud.” Basically, friendly fraud is a term associated with consumers who shop for goods or services online and lobby their card issuer or bank to cancel the transaction, thereby

receiving a refund of their payment. E-commerce is particularly vulnerable tofriendly fraud as transactions where the card is not present (CNP) are difficultto verify.

It will cost merchants (retailers) and consumers a great deal of time and money to resolve the massive flaws concomitant with the current payment transaction system, in addition to the continual rise in data breaches, which lead to identity theft and financial account takeovers. Consequently, Cryptocurrency, with its highly secure underlying blockchain technology, is being envisaged by merchants, consumers, and banks as a potential solution.

The Cryptocurrency MarketThe cryptocurrency through the blockchain technology has shown that it’s a revolutionary way of providing solution to not just the payment industry but every aspect of our business life that requires digitalization. Indeed, the totalmarket cap of all currently active cryptocurrencies exceeds the GDP of over 100 countries.

Even as government battle with its’ area of law and regularization of the crypto industry, the financial technology experts keep working its advantages and how it could change the face of banking and financial services even as far as interoperability between the old and the new ledger is concern. Despite cryptocurrency’s advantage through the technological advancement of Blockchain, the volatile state in the market seem to be the only challenge stopping it from the mainstream as a method and means of exchange between consumers and merchants.

The fiat currency is only stable as a result of government intervention and this is why it is still dominating as a means of exchange. The volatility in crypto is an advantage for traders and speculator as appreciation but for consumers and merchants it’s a disadvantage because sometimes before transaction is concluded value change already. Another issue that’s call for concern is the transaction fee rate which has dramatically increased at some point in time especially with the top cryptocurrencies.

Another cause for concern is the time it takes for transactions to be confirmed. Using Bitcoin and other top cryptographic coin as a case study; transaction time has risen drastically over time which on the other hand has led to failure rate. If any cryptocurrency will be considered as a noble means of payment between consumers and merchants for goods and services then stability and a very fast transaction completion time is very important; a transaction time even faster than the conventional digital means of payment.

In finding solution to all these challenges; Cowrium becomes the alternative solution consumers and merchants (small, medium or large) are looking for as an option, as it provides a simple yet secured platform with consistent very low transaction fee cum very fast transaction time and a reward system

that encourage both consumers and merchants to keep coming back and recommending Cowrium as the best alternative with a consistent stable value using our buffer Solution.

The Cowrium EcosystemCowrium: The Ecosystem!

Cowrium gives the freedom of choice to consumers to make payment andmerchants to accept payment with cryptocurrency of their choice, withCowrie at low cost yet at a very fast transaction speed and a referral rewardsystem that breeds loyalty compare to earlier protocols before it. With these,Cowrium will serve as a payment platform of choice that would have takencare of all the challenges that traditional, conventional digital and earliercryptocurrency protocol faces.

CowriumIndependent Purpose-BuiltBlockchain: The CowriumBlockchain is custom built with nodependency on any other. Thoughit gives room for multi-blockchainthrough its multicurrency platformand inspired by other protocol, it’sbeing developed to have someunique features which make it farmore accessible for the averageperson yet robust enough toaccommodate multidimensionalactivities including smart Contract,ICO Tokens capabilities and manymore.

Multicurrency ICO Platform:This gives innovators andorganisations the freedom toaccept any Crypto of their choicefor their ICO Project through livetoken generation.

Multicurrency PaymentSolution: Consumers andMerchants alike can make/receivepayments with Coin of their choicevia the Cowrium Mobile and WebSolutions.

From the Merchants end of theMobile Payment Solution is theMobile POS Application whichwill be made available fordownload on smart devices via appstores on android and iOs. Thebeauty and advantage of thisMobile POS Software solution is theneed for no hardware yetpossesses the full functionality ofPoint of Sales system and otherCowrium capabilities for Merchants.

The Web solutions for Merchantsincludes APIs, Plugins for some ofthe most popular ecommercesolution provider –

• Simple HTML APIs • Magento ecommerce plugin • Zen ecommerce plugin • Wordpress ecommerce plugin • Woo Commerce ecommerceplugin • Opencart plugin • Omnipay plugin • Drupal plugin • Jigoshop plugin

These ecommerce web megamallsolution providers controls about70%-80% of ecommerce portalwhile the HTML APIs could easilywork for any small or mediumEnterprise who are not operatingnone of the ecommerce solutionsand could as well serve extensivelyfor any organisation intending toaccept payment for products andservices using the Cowriumplatform.

From the Consumer end of theMobile Payment Solution PrepaidDebit Card from either of the

famous card providers e.g. Visa orMasterCard will give CowriumEnthusiast either as a user ormerchant the ability to convert thecryptocurrency of their choice tocash by loading their card.

From their account users can loadtheir prepaid card into localcurrency equivalent of the amountthey want on their card dependingon the amount they have in theirwallet. The conversion will beonline real-time as at the time oftransaction.

The Prepaid Card is part of ourInteroperability plan and fusion ofthe Conventional Ledger and theNew Ledger.

Smart Contract Library thatprovides individuals / Organizationseither through

2-hop Proof of Work vs. Proofof Stake: The adoption andImplementation of this protocol isas a result of its uniqueness;security and implementationprocess as compared toSakamoto’s 1-hop proof of work.

Nakamoto’s system is powered byphysical computing resources, andthe blockchain is maintained byPoW-miners; there, each winningPoW-miner can extend theblockchain with a new block. In ourdesign, as argued above, we(intend to) use both physicalresources and virtual resources.

That means, in addition to PoW-miners, a new type of players—PoS-holder (stakeholder)—isintroduced in our system. Now awinning PoW-miner cannot extendthe blockchain immediately.Instead, the winning PoW-minerprovides a base which enables aPoS-holder to be “selected” toextend the blockchain. In short, inour system, a PoW-miner and thena PoS holder jointly extend theblockchain with a new block. IfNakamoto’s consensus can beviewed as a 1-hop protocol, thenthis is a 2 hop protocol.

It is important to note that in theNakamoto PoW-based blockchain,the assumption to secure thesystem is that malicious minerscontrol less than the half ofcomputing power since if so theycan fork a valid blockchain whichbreaks the consensus of theblockchain protocol. In our system,in order to secure against suchattack, we need to combine twodifferent resources: physicalresource (i.e., computing power)and virtual resource (i.e., stake).Sequentially, we have two types ofblockchains (PoW-chain and PoS-

chain) corresponding to two typesof rounds—PoW-round and PoS-round executing in turn—making 2-hop blockchain. Note that, inreality, one player could play bothroles, PoW-miner and PoS-holder;however, without loss of generality,we treat the two roles separately.In order to tie them hard, thescheme maps each PoW-block tono more than 1 stakeholder. Onlythe stakeholder who has theprivilege is able to generate thecorresponding PoS-block of eachPoW-block.

Note that PoW-chains and PoS-chains existing in our system arerepresented as pairs, and eachplayer locally stores a chain-pair.Therefore, the two member chainsof each valid chain-pairs shouldhave the same structure.

Desktop and Mobile Mining:Cowrie being mass oriented coin:Aside Desktop mining, Opportunityis been giving to everyday SmartPhone User to access miningCowrie.

Desktop mining through GPU andCPU mining rigs seem abitsophisticated, less accessible andcostly for many based on ourresearch; for these reasons it'sbecome important to give awholesome look at mining from a

masses oriented Cryptocurrencypoint of view. In lieu of this, Mobilemining becomes an option. ThoughMobile mining also has its' owndeficiencies, factoring in energycosts, data fees and low computingpower; yet it's a better option forCrypto Enthusiast who lives inremote areas with limited access toconsistent power supply and otherreasons. These factors come intoplay as Cowrium and its’ nativecrypto are not just considered andlimited to the cities but also meantfor use even at the most remote ofareas. The biggest benefit ofmobile mining is that no majorupfront costs are needed withmobile mining apps.

Electroneum being the first tointroduce Mobile mining is said tobe very encouraging but facing lotsof criticism for the value per ETN.

As a result of Cowrium'smultidimensional approach,Cowrium is considering all simpleand workable plans for the masseswhich include an encouragingvalue per CWR during the processof mining. Aside working on asimple yet efficient way of miningvia Desktop, we are alsoimplementing Mobile mining givingroom for everyone to be able toparticipate in the mining process aswe look at other possibilities andapproach even through the internetof things.

Staking: Aside from the technicalbenefits of the proof of stake, it

also gives different economicbenefits/dividends to its HODLersby giving them the option ofrunning a masternode or stakingtheir coins in a stake-able wallet.

Cowrium combine both in anexciting way by giving room forheavy stakeholders with ability torun a masternode while givingothers the room of participatingthrough a stake-able wallet. Thebenefit ranges between 3 - 7percent, depending on theHODLers / stakeholder’scontribution.

This dual benefit of securing theblockchain network as well ascreating an opportunity for users toget incentives or dividends on theirholdings therefore gives an edge toPOS.

Despite the individualisticadvantage of the duo (POW et POS)their combination otherwise knownas the 2-Hop Blockchain provide amuch higher benefits and securitythan any of the two and any otherknown earlier protocol.

Atomic Swap: This smartcontract technology enablesexchange of one coin for anotherwithout using centralizedintermediaries. Cowrium users willthrough their wallets have easyaccess of exchanging of differentcryptocurrencies without the needof a third party.

Intelligent Pooling System forMempool: On May 12, 2017 theBitcoin network’s mempool, theholding area for all pending andunconfirmed transactions, achievedan all-time high size of 110 mlnbytes or 110 MBs. For two days,the size of the mempool remainedin the 100 MBs region, whichmeant that many transactions wereleft unconfirmed and weren’tbroadcasted to the BitcoinBlockchain.

More to that, the average size ofBitcoin blocks increased to around0.988 MB, getting closer to theBitcoin network’s 1 MB cap. Basedon the growing mempool size andthe average Bitcoin block sizewhich is a few kilobytes away frommaximizing Bitcoin’s block sizecap, a scaling solution is urgentlyand evidently needed in order toscale the Bitcoin networkproportionally to its growth.

This challenge has being takencare of by the Cowrium IntelligentPooling System, which prioritizestransactions using Programmablemempool solution with partiallyconfigurable properties to preventdelays. The result is a combo ofmaking transactions mega fast andkeeping Transaction fee very low.

Industrial Performance andScalability: Using Hyperblocktechnology transactions are beingcompressed regularly, reducingblockchain size to exact amount ofaccounts present in it, thereby

saving upto 96% RAM space. It alsohelp users save as much drivespace when their client isconfigured only for hyperblocks.

Enterprise Private Contract:Cowrium brings to you the conceptof private contracts and limits thecontract execution to users willingto participate, while keeping thempublicly verifiable.

Polysig - Support for multiplecryptographic algorithms,signing & address: This helpprotect users from quantumattacks (Including RSA, SHA224,ECDSA (SECP256k1) & BLAKE2b).

Recurring & ScheduledPayments: Cowrium is relativelythe first smart contract platformwith built-in capability forrecurring / subscription payments.Recurring billing requires themerchant to get the Consumer'spermission one time up front forrecurring charges, then continueswith scheduled charges until theConsumer withdraws permission.Any good or service that aconsumer or customer purchasesrepeatedly and regularly might bea good candidate for recurringbilling.

Comprehensive RewardsSystem: Referral Rewards Programfor Customers; Word of mouth hasproven to be the best marketingtechnique of all time and rewardingloyal customers for this create aperfect synergy. This is not limited

to consumers only but an extensivereward program that benefitsMerchants as well.

CowrieMaximum coin volume of 27billion, with transactions havingeight decimal places giving roomfor economic flexibility.

Cowrie wallets will be availablevia the browser can also bemanaged on a smartphone /othermobile devices, via android andiOs.

Cowrie coins can be generated bycomputers / unique mobile minerrunning (on Android / iOs /Microsoft) as a background activitywithout the attachments of anycomplicated / sophisticatedhardware mining tools that’sbeyond the reach of an averageindividual.

Enable very fast microtransactions and currency can betransferred between different appscatering for Merchants and users..

A single-minded developmentteam is being built behind it, withthe clear goal to break into anddominate the online and mobilecurrency market.

DAPPs Interconnected Applications • Decentralized Asset ExchangeSystem: Provision of a highlysecured decentralizedCryptocurrency exchange systemto be powered by atomic swaps forall our ICO Tokens & Others.

• Interoperability between theConventional Ledger and OldLegacy System (Banking) Vsthe New Ledger (Blockchain):These will reproduce a systemleading to a dynamic fusion thatbrings about quantum leap into ane-evolution of Finance andTechnology.

• ErrandBoy 1.0: An Applicationthat allows users to sendcryptocurrency of their choice andrecipient receives Fiat(USD,GBP,EUR,NRN etc) at currentlocation borderless world-over.

This Whitepaper outlines in detailthe concept and planning behindCowrium, it’s native cryptocurrencyCowrie and the enormousopportunity forth coming Pre-ICOand ICO between September andDecember.

Cryptocurrency Industry OverviewCowrium: The Ecosystem!

In 2009 Satoshi Nakamoto’s Bitcoin and the Blockchain Technology startedwhat would eventual change the way we do business and the future offinancial Technology. When this technology was first unraveled, there washardly anyone except a few who trusted enough the change that it couldbring to table, to the extent that in March 2010, a user "SmokeTooMuch"auctioned 10,000 BTC for as little as $50 (cumulatively), but no buyer wasfound.

The first major transaction was done on 22 May 2010, Laszlo Hanyecz madethe first real-world transaction by buying two pizzas in Jacksonville, Floridafor 10,000 BTC. Today, it’s all part of the success story; that no reasonablesuccessful venture comes without its challenges.

Today all cryptography based coin using the blockchain either known ascryptocurrency, crypto tokens and other digital assets are currentlyexperiencing an explosive growth period.

Blockchain technology allows the first true internationalisation of a store ofvalue, and recently the adoption rate has brought about explosive growth inboth adoption and speculative value.

2017 was the year of crypto as Bitcoin the number one cryptocurrency in themarket started with a capitalization of 12 billion US dollars and a Bitcoinworth about USD1,000 at the beginning of the year. Ethereum started theyear with a capitalization of USD 700 million with an Ether worth as much asUSD10.

By the end of 2017 Bitcoin surge to a market capitalization of over 40 billionUSD and Ethereum has caught up at an incredible pace with marketcapitalization of over 28 billion USD. As at the time of this writing BitcoinMarket Capitalization is almost USD120 Billion while Ethereum is over USD20Billion.

The market is excited by the opportunities that blockchain technology anddecentralization of currency present.Today over 2,000 Altcoin orcryptocurrencies are trading, with new use case for blockchain emergingweekly. Investors must think carefully before choosing a project; ensuring theteam; the technology and the idea are sound.

Why Invest in Cowrium?Cowrium: The Ecosystem!

The disruptive nature of Blockchain technologies and cryptocurrencies over the years has given room to exponential rate and it continues to grow.

Cowrium as a multidimensional yet easy to access as a blockchain platform will be easily accessible for small, medium and large organisation, so also will it’s native cryptocurrency appeal to masses in larger numbers than we’veseen with existing cryptocurrencies such as Bitcoin, Ethereum and the like.

As a result, we believe Cowrie will have great appeal for:

• Early participants will benefit from guaranteed profits associated with significant discounts during both Pre-ICO and ICO (See Value as shown on Page 18).

• Long-term holders. Those who wish to buy and hold Cowrie for any potential future value.

• Cryptocurrency enthusiasts who would like to be a part of the developmentof the next evolution in blockchain and the digital currency market.

Cowrium Project RoadmapCowrium: The Ecosystem!

Q1 2018 The Cowrie Idea is born Concept Development

Q2 2018 Team Building Discussions with Private

Investors Settle Legal Issues Consultation with Industry

Experts

Q3 2018 Public Announcement at

Events Website Launch Early Access PRE-ICO Technical Setup Project Development

Q4 2018 ICO CPU Mining New Website POS Launch Payment Gateway Plugins Wallet Launch Major Exchange Listing

Q1 2019 CPU/GPU Mining Mobile Mining ErrandBoy (BETA) Launch Recurring Wallet Payments Decentralized Exchange

Launch (CowDex)

Q2 2019 Cowrium Summit ErrandBoy Official Launch Smart Contract / ICO Token

Q3 2019 New Partnerships Worldwide Promotion Discussion with Conventional

Financial Institution

Q4 2019 Expansion on Scope of Work Discussion with Conventional

Financial Institution Continues

Q1 2020 Interoperability Solution

Testnet Partnership with

Conventional Financial Institution

Q2 2020 New Partnerships

The Cowrie Crowdsale Coin OfferingCowrie Coin Sale Pricing and Release Schedule!

We are raising funds via an initial coin sale. Through this people have a chance to purchase Cowrie in advance before it’s listed on the various exchanges including CowDex.

Right now, we have enough funds for the good work of the initial part of the project as a result of fund raised from private/early access investments. Our ambitions being large, a successful Pre-ICO will help expand development team and help speed up the development process.

Pre-ICO will be based on the "first come, first served "principle; therefore we cannot guarantee the availability of coin for all interested ones. The Pre-ICO will happen between September 1st and November 30 while the ICO will happen between Dec 1st, 2018 and Mar 30th., 2019. Cowrie Coin is expected to be released by First quarter of 2019.

PRE-ICO

SN DESCRIPTIONSTAG

ERATE

STARTDATE

ENDDATE DAYS

MIN(USD

)

MAX(USD) B1 B2 B3

1 Pre-ICO (Stage 1)

0.007 01-10-18

07-10-18

7 200 120,000

2% 5% 10%

2 Pre-ICO (Stage 2)

0.008 08-10-18

14-10-18

7 150 120,000

2% 5% 10%

3 Pre-ICO (Stage 3)

0.009 15-10-18

30-10-18

15 100 120,000

2% 5% 10%

4 Pre-ICO (Stage 4)

0.010 01-11-18

30-11-18

30 100 120,000

2% 5% 10%

ICO

SN DESCRIPTION

STAGERATE

STARTDATE

ENDDATE DAYS

MIN(USD

)

MAX(USD) B1 B2 B3

1 ICO (Stage 1) 0.011 01-12-18

07-12-18

7 100 120,000

10%

20%

30%

2 ICO (Stage 2) 0.013 08-12-18

14-12-18

7 100 120,000

10%

20%

30%

3 ICO (Stage 3) 0.015 15-12-18

21-12-18

7 100 120,000

10%

20%

30%

4 ICO (Stage 4) 0.017 22-12-18

30-12-18

9 100 120,000

10%

20%

30%

5 ICO (Stage 5) 0.018 01-01-19

07-01-19

7 50 120,000

5% 10%

20%

6 ICO (Stage 6) 0.019 08-01-19

14-01-19

7 50 120,000

5% 10%

20%

7 ICO (Stage 7) 0.020 15-01- 21-01- 7 50 120,0 5% 10 20

19 19 00 % %8 ICO (Stage 8) 0.021 22-01-

1930-01-19

9 50 120,000

5% 10%

20%

9 ICO (Stage 9) 0.022 01-02-19

07-02-19

7 20 120,000

- 5% 10%

10 ICO (Stage 10)

0.023 08-02-19

14-02-19

7 20 120,000

- 5% 10%

11 ICO (Stage 11)

0.024 15-02-19

21-02-19

7 20 120,000

- 5% 10%

12 ICO (Stage 12)

0.025 22-02-19

28-02-19

7 20 120,000

- 5% 10%

13 ICO (Stage 13)

0.026 01-03-19

07-03-19

7 10 120,000

- - -

14 ICO (Stage 14)

0.027 08-03-19

14-03-19

7 10 120,000

- - -

15 ICO (Stage 15)

0.028 15-03-19

21-03-19

7 10 120,000

- - -

16 ICO (Stage 16)

0.029 22-03-19

30-03-19

9 10 120,000

- - -

Our ICO period is quite expansive, target oriented and a long term process inaccordance with our expected release date of the Cowrie wallet etc and to accommodate those that would like to be a part of project across boundaries easily.

The Cowrie Crowdsale Coin OfferingInitial Coin Offering!

Unsold coinsShould there be any Cowrie coins left at the crowd sale closing date of December 31st 2018 they will beused as part of the continued promotion of the project.

The usual habit is to burn the remaining token after sales. Based on antecedents there is no evidence or guarantee of burned ordestroyed token, as a result we decided that it will be in the best interest of all those who bought thecoin that we use the remaining token to support the progress of the Project.

Participating in the Cowrie Coin Offer? Investors will be able to purchase Cowrium coins in the following ways:

1. Bitcoin.2. Bitcoin Cash.3. Ethereum.4. Litecoin

If you have other, alternate, cryptocurrencies that you would like to use to purchase Cowrium coins then please use Shapeshift (https://shapeshift.io/#/coins) to convert to either of the four acceptable coin above before taking part in the Cowrie Coin

Offering. You can also buy any of the four acceptable coins with yourcredit card via https://indacoin.comif you are looking for a way to convert cash to the acceptable cryptocurrency for purchase.

The Cowrie Coin Sale managerWe have developed a unique platform to manage the sale process: https://www.cowrium.net

Simply create an account and follow the instructions to get involved in the sales. You will be able to track your transactions in real time and to encourage value consistency; our coin is placed against USD at every stage during the offering. You will be able to buyat the rate of the USD against any of the four accepted currency at the time of purchase.

At the end of the Coin Offer your Cowrie balance will be moved into a Cowrium wallet address (or walletaddresses) of your choice.

We will keep all investors informed of which exchanges are listing Cowrium for trading purpose.

Meanwhile Cowrie will be the first Coin to be listed on the CowDex Decentralized Exchange Platform.

Coin Allocation and Fund Distribution Fund Distribution!

Use of Proceed Pie ChartRevenues from the Cowrie Crowdsale will finance the launch of the products and its further development:

55% - Product Development & Implementation 25% - Marketing & Community 10% - Administrative & General5% - Legal5% - Security & Compliance

Though we are cheering SMEs to grow with the use of cryptocurrency, our project is all encompassing with support for small, medium, large or multinational organization. Therefore our Product development and implementation team is being built to accommodate developers, designers and engineers with experience of integrating with both the small, medium and largest brands. This requires that we continuously have a team with the finest minds in the industry. This will help us prepare for future expectations and requirements either due to expected upgrades and developments based on continuous revolution in the industry.

Our marketing strategy includes key endorsement by influencer in many areas in the business world where we will be collaborating. Aside business influencers, we are also working on endorsement by global celebrities including but not limited to area of sports, music, entertainment etc. With Global Influencer highlighting the security credentials of the currency will make it attractive to those who are still wary of purchasing online.

With Online Merchant applications already in developmental process for the likes of Magento, Wordpress, Zen, Woo Commerce etc, we plan to collaboratewith Merchants using the applications and Online Mega malls like Amazon, Alibaba, Aliexpress, Jumia, Konga etc in form of promotion as we bring Cowrium to the millions using these applications. We also plan to engage online influencer organizations like Google, Yahoo, Facebook etc in partnership deals.

Our plan globally is to market Cowrium as a global brand that’s going to influence the way we do business through all our online and offline deliverables. We are not just creating a brand for acceptability by the users but also a gateway for other cryptocurrencies and a link between the old and

new ledger. Through our global outreach, sponsorship and viral marketing webelieve we can access 10s of millions of people who currently do not have a bank account, but do have a smartphone as well as those who do but appreciate the beauty with the leading advantage in technology

With all these: Cowrium and its native cryptocurrency Cowrie is set to become a household name worldwide.

Coin Allocation and Fund Distribution Coin Allocation!

Coin Allocation Pie ChartThe Pre-Mined Coin will be allocated as follow:

60% - Token Sale 10% - Founders & Team 10% - Marketing & Advisors10% - Future Partnerships5% - Bounty, Airdrops, Referrals etc5% - Special Project: DAPPs

The pre-mined Cowrie allocated as stated above with 60% going into the Crowdsale Coin Offering distribution. For more information on the Crowdsale Coin offering see “The Cowrie Crowdsale Coin Offering” on page 18.

While the vesting period for the Team ranges from 2 – 5 years that of the advisors is on individual terms.

We plan to take up partnership with multinational organizations in the nearest future while based on our business plan we will partnering with financial institutions within the next two to three years of commencement of the project. In lieu of this we plan to invest in the acquisition of a conventional commercial institution in a crypto friendly environment and thiswill aid the workability of our plan of interoperability between the old and thenew ledger respectively.

Bounty, Airdrops, Referrals and other bonuses: all these are part of themarketing strategy necessary to give the public the needed drive and motivation to make the project a hug success.

Special projects in the likes of DAPPs ErrandBoy and interoperability of the old and new ledger also take

The Cowrium TeamThe Team and Advisors!

The Cowrium team consists of experienced team of software developer lead by Emmanuel Haastrup. He’s the Founder and Chief Conductor at Xclusive Items ecommerce Ltd an online MEGA Mall. He’s has a history of building business team. As the Chief Conductor, Emmanuel Haastrup has assembled a team of over 30 professionals who are working to make Cowrium a successstory. Here are a few:

Emmanuel Haastrup (Ceah)Founder /Chief Conductor 18 yrs Combined Experience as Serial Entrepreneur,Web, Software & Database Developer, BlockchainEnthusiast, Speaker and Financial Intelligence Analyst.

Praveen DagdiProject Manager/Blockchain DeveloperWith almost 10 yrs experience in real time applicationdevelopment and 4 yrs of in cryptocurrency Praveenhas successfully delivered numerous projects in

Shobhit SharmaLead: Blockchain DevelopmentExpert in Custom Blockchain & Cryptocurrencydevelopment with almost 10yrs experience working onseveral projects on Bitcoin, Ethereum, Monero & several

Priyanka ChouhanLead: Business Development A dynamic thinker; with 10 yrs plus experience as a project and business developer in web, software and general application solution and some years now in

The Cowrium TeamThe Team and Advisors!

Chloe KhokLead: TrainingA young dynamic Trainer, with 10yrs plus experience.Versatile in process driven, role play, experiential,cognitive, behavioral and management development

Titilope BalogunLead: MarketingWith over 10yrs experience & strong background inNetwork Marketing and direct marketing. She isdynamic with managerial skills and has worked with

Aanuoluwapo AwesomeLead: Social MediaAbout 10yrs experience in Marketing, social mediaaccounts with demonstrated leadership in engagement& base growth, content management, excellentcopywriter combined with solid knowledge of SEO,

Oluyinka TanimowoAdvisor: Technology He’s the MD/CEO at Jotmo Systems Ltd, Managing Consultant at Connect Technologies and Serving on the Advisory board of several IT Companies with Over 25yrs

Adeola Pedetin ObadimejiLead: Legal A Dynamic young Attorney at Law, Specialist inCompany law, Representation and other legalproceedings. Area of strength include research,

Go Live!What will go live after ICO!

ConclusionSummary!

The Cowrium Platform is an all encompassing platform which deos not justgiving room for Innovators, Developers Merchants cum Enterprise,Exchangers, Service providers and Institutions the ability to integrate theirICO projects and smart contracts but also their business on a platform whereconsumers will be able to pay for products, services and perform operationswith not just the Cowrie Coin but the cryptocurrency of their choice.

While encouraging merchants and consumers; technological innovation aregiven equal focus and with the adoption of multiple cryptographicalgorithms, signing & address formats to protect users from quantumattacks, Hyperblock technology with the Compression of RAM space upto96% and Intelligent Pooling System to help keep transactions at a verylow fee, we are set to become the bride and pride of the Industry.

Promoting the use of Crypto our DAPPs such as ErrandBoy allows you to sendCryptocurrency of your Choice and recipient receives it in Fiat (USD, GBP,EUR, NGR etc) through our agents. The Cowrium Decentralized Atomic SwapExchange Solution (COWDEX) will let tokens generated on the platform haveeasy access to being listed as well as other Coin from outside the Platform.With Cowrium is a future where the Old Ledger (Conventional FinancialInstitution) and the New Ledger (Blockchain and Cryptocurrency) willforms a fusion to redefine and revolutionaries the way we do business.

With the all encompassing reward system for both Merchants andConsumers, we are redefining how business internally aids its own growththrough the synergy formed with the reward from the income generated.

Cowrium is setting a higher standard in the Industry by giving room for all tochoose. This Choice is not just for Blockchain experts, professionals,innovators or Developers but also for Merchants, Consumers and all CryptoEnthusiast therefore making Cowrium the most democratic platform in theIndustry.

This makes Cowrie; Currency of the people, by the people, for the people.