Bonafi Blockchain Company (BONA)

What is Bonafi Blockchain Company

Bonafi, Inc. is a Delaware corporation (referred to in this White Paper as “Bonafi,” the “Company,” “we,” “our” or “us”) that plans to build a blockchain-based product authentication system (the “Platform”) that will help brands, big and small, and consumers defend against counterfeit products.

Problem

Counterfeit goods make up about 2.5% of global imports according to Organization for Economic Co-operation and Development (OECD). In 2010, PricewaterhouseCoopers estimated that the counterfeit industry generated €1.6 trillion ($1.9 trillion USD) in revenue, with pharmaceutical, electronic, and fashion goods making it into the top ten most counterfeited products. This does not include collateral damage caused by counterfeit goods: legal battles between brands and consumers, additional cost to repair or replace counterfeit goods, medical problems caused by inferior materials used in counterfeit goods, and even death.

Solution

The Platform is designed to permit users, from a manufacturer to a retailer to a consumer, to verify genuine goods throughout the supply chain using Bonafi’s mobile application (the “App”) powered by BONA Tokens. We plan to make the App compatible with latest iOS and Android devices, and we expect to release a beta version of the Platform in Q1/2019.

Fundraising

Bonafi plans to raise funds for development of the Platform and other general working capital purposes by offering and selling securities in the United States and possibly in other countries. The securities sold may include BONA Tokens, shares of the Company’s capital stock and/or derivative securities such as a Simple Agreement for Future Tokens.

Restrictions on Transfer

All BONA Tokens sold in Bonafi’s initial coin offering (“ICO”) of BONA Tokens, or issued subject to and upon completion of the ICO, would be minted after successful closure of the ICO. If necessary to comply with restrictions on transfer pursuant to applicable securities law, tokens would be held in custody for the legally prescribed period by a token minting agent such as Securitize.io, Polymath.network or another third party minting and custodian authorized by Bonafi.