AboutMaestralSolutions

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1 Amaz ngsof ef aw Execu onma u on B ockcha n nthe Con uc P ma I uandpo en ap opec Nam knuhanov ć-cto Decembe20

2 AmazngSofeFawExecuonMauon AbouMauon Mauonapoducdeveopmencompanhabudpemum ofe andhaenjoeddongonce200 OuC-ueexpeenceand 3expeonboad,makMaaeam moehan eadfompfngcompexpobemnocaabeandfexbouondeafo dvngoubunfuhehaneve A deepundeandngofwhaenaodevengofeungdbued eamougeaenghinaeaofopon,mauonanexceen paneogehngdone BockchannTheConuc

3 AmazngSofeFawExecuonMauon Abac Theconuconhabeenfacedwhmanchaengfoaongmenow Ahoughomeofheobacaeneggbe,ukeopaqueandeacupp chan,henoceabeackofeamnedpojecnfomaonexchange,novenc,and ow ogadopon,aeofcucampoanceandccaoheaccomphmen ofhegoa Themovaonfobockchannconuconpojeccomfom hefachahe nvov and connec man bun houghou dffeen knd of eaonhp and conac heachou each confm ha a bockchan nfaucuewhaobueofmaconacwhchuppogeneauecacan eveaaodfoundaonfofuhepoducdeveopmenboupaneandcen Poducdeveopmendonehwaenammenepoenafocenappcaon whdveeuagcenaothpopoaevahepafom foavaeof poducandevcnheconucon,uppongpmauppchan, conuconnfomaonmanagemenand heeguaonofpamenung dga moneocpocuenc BockchannTheConuc Page

4 AmazngSofeFawExecuonMauon Conen Conen 2 Inoducon 3 TheConuc 4 BudngInfomaonModeng(BIM) 5 ConuconOpeaonBudngnfomaonexchange(COBe) 5 TheBockchanTog 6 Bockchan 6 SmaConac PmaIuandPoenaPopec SuppChan 8 ConucnfomaonManagemen 0 BudngManagemenSem(BMS) ReguaonofPamen 2 Concuon 4 Refeenc 5 Conac 6 Mauon,Inc 6 BockchannTheConuc Page2

5 Amaz ngsof ef aw Execu onma u on I n oduc on Look ng pa he ma ke ng hpe a ound he b ockcha n og and B co n 2] p omo on,wewe ed ven b henumbeof nqu f om oupa ne and c en f om d ffe en o akeac o e ooka ea wo d u eca ofb ockcha n n heen e p e,ou deoffinanceandd g acu enc ad ng o e Th pape n ended o p ov de a p e m na and b efove v ew ofouongo ng ea ch and ng of he b ockcha n og,exam ne capab and app cab n he con uc on awe aove come ex ng ugg and offenew p o pec Wehaveba edouwo konade a edana ofon ne ou cd c b ngcu en ob ac n he and ead ng ec o ke upp cha n,con uc on nf o ma onmanagemen,and egu a onofpamen A houghwew nod cu echn cade a conce n ng he og e f,wea m aexp o ng hehpe edgef amewo kcapab and app cab nco po a e u eca B ockcha n nthecon uc Page3

6 Amaz ngsof ef aw Execu onma u on TheCon uc Thecon uc on habeenf acedw hmancha engf oea now A hough ome of he d fficu a e neg ec ab e n ho and ong e m, u ke qua fied wo ke ho age,env onmen a u a nab conce n,anopaqueande a c upp cha n,a ackof eam ned p oj ecmanagemenand p ofi ab, n o venc,and ow ogadop ona eofc uc a mpo anceand mp m onc ca S m a and e a edunde ngp ob em na ec o of he have hepo en a o ow downandha m he deve opmenandg ow h, pec a odawheno he en e p a ep epa ngf o hed g af u u eandd up ve og nnova on Neve he,d g a an f o ma on no hef u u ebu hep en ndeed,and no nego ab eaa I anab o u egamechangef o hecon uc on,capab e of o v ng k ed abo ho age, n uffic enp oj ecp ofi ab,p oj ec nf o ma on exchange, ecu u and man o he ob ac undoub ed o vab e b emb ac ng he an f o ma on Thechange happen ng oda B ockcha n nthecon uc Page4

7 AmazngSofeFawExecuonMauon BudngInfomaonModeng(BIM) Inheconexofconucon,BIM hepocofdevengandopeang buaungwe-ucueddganfomaonhaahenecapahaveacco Iawaofwokng,ahehanaphcaobjecoanen4] Inecenea,hepacceofdefnng,dgnng,anddbungpojecnfomaon andamanagedbbudnginfomaonmodeng(bim)andconuconopeaonbudngnfomaonexchange(cobe)poocoandeaeddgafomabim andcobehavebohbeenemegngaaandadandnecfodgne,engnee,manage,andcompanauch,hecanoveechncaandegadpu, ncaeanofhepoccoaboaohow aendencojeopadzehepojec auhencandfe-cce5] AhoughBIM andcobeaecapabeofovngapojec'echncannc,hefa hoand aenadequaenovng coaboaonconcenbeweenconbuo Theaeaofconcenaeamajopobem foheandouchonponb, u,daaecu,ownehp,neecuapope,copghpoecon,andohe ConuconOpeaonBudngnfomaonexchange(COBe) COBeannfomaonexchangpecfcaonfohefe-ccecapueand deveofnfomaonneededbfacmanagecobecanbevewedn dgn,conucon,andmanenancofeaweanmppeadhethveaaowcobeobeuedonapojecegadofze andogcaophcaon6] Amenonedbefoe,he novencanoheccapondoubabou egaobgaon,anandchedungofubconacopamen,andhefnancanecungenea,eadooveadapponmenamongpaneandun fauofpojecandcompan] TheaandaguabagconcenwewanoaddwhbockchanheuppchanRegadofbunandpe,eveuppchandeawhamo hameufom papewokdea,unnecaadmnaveco,andobcue egaeguaonnopeangcounoegon;ohenuffcenanpaencn ackngode,hpmen,anddeveofgoodandmaea;oeo,faud,and counefenhemakethebockchancapabeofovecomngaheuconcenngmngwokfowandpooco BockchannTheConuc Page5

8 AmazngSofeFawExecuonMauon TheBockchanTog Bockchan A bockchan,ognabockchan,aconnuougowngofecod,caed bock,whchaenkedandecuedungcpogaph Bdgn,bockchanaenheenanomodfcaonofhedaaThe Havad BunRevew dcba"anopen,dbued edgehacan ecodanaconbeweenwopaeffcenandnavefabeandpemanenwa"8] Themovaonfobockchannconuconpojecafom hefachahenvovandconnecmanbunhoughoudffeenkndofeaonhpandconacheachconequen,uffefom ahecompcaonwe menonednhepevouecon,kuppchan,pojecmanagemen,novenc, andohe Reaonhpand communcaonchanneamong conaco,ubconaco,and ohepacpanaeveofenundefnedbpojecageemenandconacconneconaepee-o-peeand dbued nnaue,buchanneaehaveabhedpoocoandconvenon Inuchanunemacnamen,bockchanpovdouonfoanpaenneaconwhmandebenefwhovnghecoeobacnnfomaonanfe Bockchancanecueconuconnfomaonmanagemendungabudngfe-ccephaandahamemeoffecawhopenandafenfomaonexchange channefoapacpan Backedbbockchan,BIM andcobemcanbecomeadecenazednfaucuefopojecnfomaonmanagemen,enungdaaecuandpoeconofneecuapope,whnanaccoadaa Onheconuconandbudngde,bockchancanmpoveoveauppchanpefomanceandaceabAccodng,baedonuppchanaudog,eguaonof pamenbeweenconacoandconbuomanagedvamaconacnnea ea-me,whoukfobunqudandab BockchannTheConuc Page6

9 AmazngSofeFawExecuonMauon SmaConac SmaConacaef-execung conacuaa,oed onhebockchan,whchnobodconoandheefoeeveonecanu A maconacacompuepooconendedofacae,vef,oenfoce henegoaonopefomanceofaconacsmaconacaow aceabe, Oueachconfmhahebockchannfaucuewhheobueofma conacupponggeneauecacoudeveoupaneandcenahefoundaonfofuhepoducdeveopmen Theffeabepoducdeacoveuppchanngenea,ahecohowmmenepoenafocenappcaonwhdffeenuagcenao Apafom huppchancae,hefoundaonwoudeveahepafom foa ohepoducand evcoo,pacuaconuconnfomaonmanagemen (BIM,COBe)andeguaonofpamenwhdgamoneocpocuenc BockchannTheConuc Page

10 Amaz ngsof ef aw Execu onma u on P ma I uandpo en ap o pec Aa ead a ed,ou ea cha m oadd hef o ow ngp ma u eca and po en aapp ca onf ob ockcha n n hecon uc on Supp Cha n Va ouendeavo havea ead a ed P ovenance,a UKba ed a up, e p o pec ve c en he can u e b ockcha nba ed og o ha e oup oduc j ou ne and oubu n mpacon env onmenand oc e Wa ma wo k ng w hi BM and T nghuaun ve, nbe j ng, of o ow hemovemenofpo k n Ch naw ha b ockcha nm n ng g anbhp B on u ng he og o ack m ne a ana done b ou de vendo The a up Eve edge ha up oaded un que den f ng da aonam on nd v dua d amond o a b ockcha n edge em obu dqua a u ancandhe pj ewe e comp w h egu a onba ng b ood d amond p oduc 0] Man upp cha na ea eadu ng og o educe kand o,budecen a zedand o a eﬀo o hep ob em a e neﬀec veth hema n ea onwh b ockcha ncanbecome he upp cha nope a ng em ]andb ngp o pe o a mo an upp cha nu ag cena o S ng on op ofoub ockcha nf ounda on,wecon de h upp cha n" ope a ng em"f ocon uc onp oj ec aamu pu po e v cef oa pa c pan ;p oduce,manuf ac u e, e a e,d bu o,ando he upp e Thep oducwou daca hega ewaf oa ch eofc enapp ca on eam n eg a ed B ockcha n nthecon uc Page8

11 AmazngSofeFawExecuonMauon Bockchanaowuoackand monoauppchanevenand anacon anpaenwheneveanem opoducnauppchan,movfom poducon andmanufacueoae, auabuchange(eownehp,ocaon,e,ec) Theabuechangeevenbecomeapemanenpaofheevebehoof hepoducthpeofanpaencbackedbecuedocumenedpoducbackgoundcoudeducenfomaonexchangempedmen,devemedea,ovea dbuonco,unavodabehumaneoandofom gaocounefemakmompoan,hanpaenccoudchangehewawemanagepojecand makepofavngdecon Thpeofbockchanevcecanhepbunpoecheepuaon,nceae pof,encouagepanehp,andpoonhem aaeadenhemake FguePoduchoecodpeonanpaen,mmuabe,andeabe edgenhepee-o-peenewok BockchannTheConuc Page9

12 AmazngSofeFawExecuonMauon ConucnfomaonManagemen Peenpobemncommuncaonbeweendea,pan,dgn,andconucon, ofenchaacezeconuconnfomaonmanagementheackofaanpaenand ncoupbenfomaonexchangeandadevepafom acoapojecagunadefenveappoachocoaboaonamongpacpan BockchanoffeouonwhhepoenaocompemenandevendupvempovenfomaonandchangemanagemennBIM andcobem,andconuconnfomaonmanagemenngenea Becodng,auhong,andaudngdeconmakngnhepananddgnpha, andhennegangwhconuconandmpemenaonpoc,bockchanevazhecueneaonhpbeweenheconbuoohepocandpomo amoecoaboaveappoachoduedgence,accounab,andnnovaon Bockchanmakconuconnfomaonvbeoapa,naecueawohmanneandangfom henceponphaethwanfomaonandchange managemenpocbecomecheape,nanaccbe,eo-pone,and moeeabe,whcheadooveacoeduconandmognfcanpofmagn BockchanhahepoenaoeveehecuenendbceangaPanopcaneffec,wheeapabehavoumodeaedaheknownhahee hepobhaheconducwbepopeobevedaaaedae3] Bduppchanand pamenbockchanevc,oubockchanfoundaon woudeveahepafom fobim,cobe,andevenbudngmanagemensem (BMS)poducandevc BockchannTheConuc Page0

13 AmazngSofeFawExecuonMauon BudngManagemenSem(BMS) A budngmanagemenem (BMS),oheweknownaabudngauomaonem (BAS),acompue-baedconoem naednbudng haconoandmonohebudng'mechancaandeeccaequpmen uchavenaon,ghng,poweem,fem,andecuem 4] TheeapoenannegangaheogcandependenevcungeffcendaanechangechanneMonong,Anac,MachneLeanng(ML),Inene ofthng(iot),andsmaconacaeonafew canbebuonopofhebockchan foundaon Fgue2Bockchanmakconuconnfomaonvbefom henceponphae, naecueawohmanneaccepabefoapa BockchannTheConuc Page

14 Amaz ngsof ef aw Execu onma u on Regu a onofpamen W h he ecen eofc p ocu enc,ma ke a e ea ng he unde and ngof mode nfinancec p ocu enc a enoon d up ng hefinancewo dandcou d evo u on ze hewawe veand ade C p og aphandd g a ad ngconcep cha engcu en h nk ngand ome h ng haw nfluenceeve a pecofouf u u e Acco d ng oha va dbu n Rev ew,b ockcha nw an f o m hefinanc a em a hewebchangedmed a 6] A heb ockcha nhpe p ma a ound hefinancewo dandc p ocu enc, ea op ed chow he ogfi ouu eca ew h hecon uc on, pa cu a w h upp cha nandcon uc on nf o ma onmanagemen The egu a onofpamen w evo u on zecon uc onfinanc ngandg ow hfund ng and qu d backed b Sma Con ac and d bu ed ne wo kof u wo h pee w u nacomp e e decen a zedfinanc a em f ocon uc on The ong e mf u u eof hecon uc on e on h ab efinanc ngof nf a uc u ef o nf o ma onexchangeand upp cha nb ockcha n ogencou agdecen a za onofpamen andhe p hecon uc on o o ve n o venc andun egu a edcacheflow B ockcha n nthecon uc Page 2

15 AmazngSofeFawExecuonMauon Whnoubockchanfoundaon,weexpecpawhdgadenandwa negaedwhocaandegonabank,onceaehepofwhfaandecue anacon,eeapdbundeveopmenvaanecoem ofcenappcaon, andnnovaebexendnghefoundaoncapab Fgue3PamenaenanandbackedbSmaConacandcpocuenc, aowngaceabe,evebe,andhghcedbeanacon BockchannTheConuc Page3

16 Amaz ngsof ef aw Execu onma u on Conc u on Tobe e eve age heoppo un andp o pec ofb ockcha n og n hecon uc on,a p ae w have owo k oge heandd gen ee hemovemenf o dtheeffo dependon henumbeofpa nvo vedand hef o ow ng dom noeffec Compan hou d paa en on o heva ou a up n he oothe ea e eve a a up oda haa e ea ch ng,expe men nganddeve op ngw hb ockcha nthew ke movequ ck offenew p oduc and e v c n hecon uc on ma ke, pec a n h upp cha n,con uc on nf o ma onmanagemen, and egu a onofpamen Add onabenefi ofb ockcha n oga eun ea hed oncecomb ned w hmach nelea n ng( ML)and hei n e neofth ng( I ot) I np epa a onf o e v c ngouc en andpa ne,oubu n,p oduc,anddeve opmenp ac ceg ouphavemade emendou nv men nbu d ng eamadepa eve ag ng h e og B ockcha n nthecon uc Page 4

17 Amaz ngsof ef aw Execu onma u on Ref e enc ] Tap co,dand Tap co,a( 20 6) B ockcha n Revo u onhow het ogbeh nd B co ni Chang ng Mone,Bu n,and hewo dpo f o oh p goo g NmRp3f Re eved ] Nakamo o,s( 2009) B co na Pee opeee ec on cca hs emb co n o gh p goo g wvbwgqre eved ] Leed,R( 20 6) Top4Cha engfac ngthecon uc D g a Magaz neh p goo g phcf Pp Re eved 0 0 4] BI Mf obeg nne TheB Mh p goo g 3UKhdf Re eved 05 5] Tu k,žandk nc,r( 20 ) Po en a ofb ockcha nt ogf ocon uc onmanagemen Sc enced ec h p goo g uchrt Re eved 0 2 6]Ea,EW( 20 2) Con uc onope a onbu d ng nf o ma onexchange( COB e) bu d ngsmarta ance,na onai n u eofbu d ngsc enc h p goo g J5L zdre eved 2 0 ]Ca de a,h( 20 5) Sma Con ac andpo b eapp ca on o hecon uc He de Ca de a com h p goo g nwve2are eved 2 5 8] B ockcha nw k ped ah p goo g gsp2gzre eved ] Sma Con ac W k ped ah p goo g v3f Re eved ]Ca e, M J, Wong, P ( 20 ) G obasupp Cha na eabou ogebe e, Thank ob ockcha n Ha dbu n Rev ewh p goo g pn 5owRe eved 2 20 ]W am, R ( 20 5) How B co n T ogcou dmakesupp Cha nmo et an pa en Supp Cha n24 com h p goo g M82 J8Re eved 09 2] HELI UM,( 20 ) How B ockcha nw ChangeEve A pecof hecon uc on I COBI E & BLOCKCHAI Nh p goo g PUmKB Re eved 2 5 3] Cu u eandchangecon uc onb ockcha ncon o umh p goo g HLP3WxRe eved 2 5 4] Bu d ngmanagemens emw k ped ah p goo g WC6MFVRe eved 29 5] Rob n on,eandle ng,m( 20 5) B hema e Te Bank heb ockcha nchangeve h ngb oombe g h p goo g czaj RRe eved 2 5 6] I o,j,na u a,n,and A,R( 20 ) TheB ockcha nw Do o hef nanc as em Wha hei n e ned d o Med aha dbu n Rev ewh p goo g 3f GwcxRe eved 0 24 B ockcha n nthecon uc Page 5

18 Amaz ngsof ef aw Execu onma u on Con ac Ma u on,i nc 384No ha dbou eva dno hw,bu d ng 00 A an a,ga USA Phone Ema nf o@ma a o u on com 20 Ma u on,i nc B ockcha n nthecon uc Page 6