WHITEPAPER

A blockchain wallet &

a crypto exchange
for the streets of india

Version: V.2.03

Date: 27.10.2017

bitindia.co
NOTICE
The BITINDIA 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.

No person is bound to enter into any contract or binding legal commitment in relation to the sale and
purchase of the BITINDIA tokens and no cryptocurrency or other form of payment is to be accepted
on the basis of this Whitepaper.

The information set below may not be exhaustive and does not imply any elements of a contractual
relationship. While we make every effort to ensure that any material in this whitepaper is accurate and up
to date, such material in no way constitutes the provision of professional advice. Bitindia does not
guarantee, and accepts no legal liability whatsoever arising from or connected to, the accuracy, reliability,
currency, or completeness of any material contained in this white paper. Investors and potential Bitindia
token holders should seek appropriate independent professional advice prior to relying on, or entering into
any commitment or transaction based on, material published in this white paper, which material is purely
published for reference purposes alone. Bitindia does not provide any opinion on any advice to purchase,
sell, or otherwise transact with BitIndia tokens and the fact of presentation of this white paper shall not
form the basis of, or be relied upon in connection with, any contract or investment decision. No person
is bound to enter into any contract or binding legal commitment in relation to the sale and purchase of
BITINDIA tokens, and no cryptocurrency or other form of payment is to be accepted on the basis of this
white paper. BITINDIA is NOT a cryptocurrency of India. BITINDIA Tokens do NOT represent tokens of India
in any form whatsoever. BITINDIA Tokens do NOT hold value in INR, USD, EUR or any other Fiat currency.
Bitindia is the name of the project undertaken by Bitindia Limited

REGIONAL RESTRICTIONS
You are not eligible and you are not to purchase any BITINDIA tokens if you are a citizen or resident
(tax or otherwise) of Singapore, or other Singapore Person. “Singapore Person” is generally defined as
a natural person, residing in the Singapore or any entity organized or incorporated under the laws of
Singapore.

You are not eligible and you are not to purchase any BITINDIA tokens if you are a citizen or resident
(tax or otherwise) of the People‘s Republic of China („PRC“), or other PRC Person. „PRC Person“ is generally
defined as a natural person, residing in the People‘s Republic of China, or any entity organized or
incorporated under the laws of the People‘s Republic of China.

Furthermore because of current regulatory uncertainty and before additional information is publicly
released by the Platform on the matter, green card holders of the United States or citizens
or residents (tax or otherwise) of the United States of America, Singapore or China,
or other U.S., Singapore Person or PRC Person, are not eligible to register for the
Token Sale. That limits the ability of U.S., Singapore, PRC persons to utilize
BITINDIA tokens and participate in the future development of the platform
as well as in the distribution of proceeds.
NO ADVICE
No information in this Whitepaper should be considered to be business, legal, financial or tax advice
regarding Bitindia, the Distributor, the BITINDIA tokens, the Bitindia Token Sale, the Bitindia Wallet, and
the Bitindia Exchange (each as referred to in the Whitepaper). You should consult your own legal,
financial, tax or other professional adviser regarding Bitindia and/or the Distributor and their respective
businesses and operations, the BITINDIA tokens, the Bitindia Token Sale, the Bitindia Wallet, and the
Bitindia Exchange (each as referred to in the Whitepaper). You should be aware that you may be required
to bear the financial risk of any purchase of BITINDIA tokens for an indefinite period of time.
LIMITATION OF LIABILITY
In no event shall Bitindia, members of Bitindia staff, contractors, or volunteers be liable for:
Any lost profits, lost savings or incidental, indirect, special or consequential damages, arising out of your
use or inability to use the services or products offered by Bitindia or the breach of any of these Terms by
any third party;

Any security risk such as hacker attacks, loss of password, loss of private key, or similar.

Mistakes or errors in code, text, or images involved in the sale.

Any losses resulting from the volatility in pricing of Bitindias in any countries and cryptocurrency
exchanges.

This website and the BITINDIA tokens are provided on an “as is” basis and without any warranties of any
kind, either expressed or implied. You assume all responsibility and risk with respect to your use of the
website and purchasing of any amount of the BITINDIA tokens and their use. If applicable law does not
allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only
to the extent permitted by applicable law.

By acquiring Bitindia’s Token and to the extent permitted by applicable law, the buyer agrees not to hold
Bitindia’s Token or any employee or contractor of Bitindia liable for any losses or damages arising out of
or in any way connected to the buyer’s failure to properly secure the private key to the wallet
containing their BITINDIA TOKENS: hacker’s attacks, stolen devices, loss of passwords, etc.
NO REPRESENTATION & WARRANTIES
Bitindia and/or the Distributor does not make or purport to make, and hereby disclaims, any
representation, warranty or undertaking in any form whatsoever to any entity or person, including any
representation, warranty or undertaking in relation to the truth, accuracy and completeness of any of
the information set out in this Whitepaper.

REPRESENTATION & WARRANTIES

BY YOU
By accessing and/or accepting possession of any information in this Whitepaper or such part thereof
(as the case may be), you represent and warrant to Bitindia and/or Bitindia Limited (the Distributor), as
follows:
(a) you agree and acknowledge that the BITINDIA tokens do not constitute securities in any
form in any jurisdiction;
(b) you agree and acknowledge that this Whitepaper does not constitute a prospectus or offer
document of any sort and is not intended to constitute an offer of securities in any jurisdiction
or a solicitation for investment in securities and you are not bound to enter into any contract or
binding legal commitment and no cryptocurrency or other form of payment is to be accepted
on the basis of this Whitepaper;
(c) you agree and acknowledge that no regulatory authority has examined or approved of the
information set out in this Whitepaper, no action has been or will be taken under the laws,
regulatory requirements or rules of any jurisdiction and the publication, distribution or
dissemination of this Whitepaper to you does not imply that the applicable laws, regulatory
requirements or rules have been complied with;
(d) you agree and acknowledge that this Whitepaper, the undertaking and/or the completion
of the Bitindia Token Sale, or future trading of the BITINDIA tokens on any cryptocurrency
exchange, shall not be construed, interpreted or deemed by you as an indication of the merits
of the Bitindia and/or the Distributor, the BITINDIA tokens, the Bitindia Token Sale,
the Bitindia Wallet, and the Bitindia Exchange (each as referred to in this Whitepaper);
(e) the distribution or dissemination of this Whitepaper, any part thereof or any copy thereof,
or acceptance of the same by you, is not prohibited or restricted by the applicable laws,
regulations or rules in your jurisdiction, and where any restrictions in relation to
possession are applicable, you have observed and complied with all such restrictions
at your own expense and without liability to Bitindia and/or the Distributor;
 (f) you agree and acknowledge that in the case where you wish to purchase any BITINDIA
tokens, the BITINDIA tokens are not to be construed, interpreted, classified or treated as:
(i) any kind of currency other than cryptocurrency;
(ii) debentures, stocks or shares issued by any person or entity (whether Bitindia and/or
the Distributor)
(iii) rights, options or derivatives in respect of such debentures, stocks or shares;
(iv) rights under a contract for differences or under any other contract the purpose or
pretended purpose of which is to secure a profit or avoid a loss;
(v) units in a collective investment scheme;
(vi) units in a business trust;
(vii) derivatives of units in a business trust; or
(viii) any other security or class of securities.
(g) you are fully aware of and understand that you are not eligible to purchase any BITINDIA
tokens if you are a citizen, resident (tax or otherwise) or green card holder of
the United States of America or a citizen or resident of the Republic of Singapore or a citizen or
resident of People‘s republic of China;
(h) you have a basic degree of understanding of the operation, functionality, usage, storage,
transmission mechanisms and other material characteristics of cryptocurrencies,
blockchain-based software systems, cryptocurrency wallets or other related token storage
mechanisms, blockchain technology and smart contract technology;
(i) you are fully aware and understand that in the case where you wish to purchase any BITINDIA
tokens, there are risks associated with Bitindia and the Distributor and their respective
business and operations, the BITINDIA tokens, the Bitindia Token Sale, the Bitindia Wallet,
and the Bitindia Exchange (each as referred to in the Whitepaper);
(j) you agree and acknowledge that neither Bitindia nor the Distributor is liable for
any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or
otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data),
arising out of or in connection with any acceptance of or reliance on this Whitepaper or any part
thereof by you; and
(k) all of the above representations and warranties are true, complete, accurate and
nonmisleading from the time of your access to and/or acceptance of possession this
Whitepaper or such part thereof (as the case may be).
CAUTIONARY NOTE ON
FORWARD-LOOKING STATEMENTS
All statements contained in this Whitepaper, statements made in press releases or in any place ac-
cessible by the public and oral statements that may be made by Bitindia and/or the Distributor or their
respective directors, executive officers or employees acting on behalf of Bitindia or the Distributor (as the
case may be), that are not statements of historical fact, constitute “forwardlooking statements”. Some of
these statements can be identified by forward-looking terms such as “aim”, “target”, “anticipate”, “believe”,
“could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”,
“will” or other similar terms.

However, these terms are not the exclusive means of identifying forward-looking statements. All
statements regarding Bitindia’s and/or the Distributor’s financial position, business strategies, plans and
prospects and the future prospects of the industry which Bitindia and/or the Distributor is in are
forward-looking statements. These forward-looking statements, including but not limited to statements
as to Bitindia’s and/or the Distributor’s revenue and profitability, prospects, future plans, other expected
industry trends and other matters discussed in this Whitepaper regarding Bitindia and/or the Distributor
are matters that are not historic facts, but only predictions.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that
may cause the actual future results, performance or achievements of Bitindia and/or the Distributor to be
materially different from any future results, performance or achievements expected, expressed or implied
by such forward-looking statements. These factors include, amongst others:
(a) changes in political, social, economic and stock or cryptocurrency market conditions, and the
regulatory environment in the countries in which Bitindia and/or the Distributor conducts its
respective businesses and operations;
(b) the risk that Bitindia and/or the Distributor may be unable or execute or implement their
respective business strategies and future plans;
(c) changes in interest rates and exchange rates of fiat currencies and cryptocurrencies;
(d) changes in the anticipated growth strategies and expected internal growth of Bitindia and/or
the Distributor;
(e) changes in the availability and fees payable to Bitindia and/or the Distributor in connection
with their respective businesses and operations;
(f) changes in the availability and salaries of employees who are required by Bitindia and/or the
Distributor to operate their respective businesses and operations;
(g) changes in preferences of customers of Bitindia and/or the Distributor;
(h) changes in competitive conditions under which Bitindia and/or the Distributor operate, and
the ability of Bitindia and/or the Distributor to compete under such conditions;
(i) changes in the future capital needs of Bitindia and/or the Distributor and the
availability of financing and capital to fund such needs;
(j) war or acts of international or domestic terrorism;
(k) occurrences of catastrophic events, natural disasters and acts of God
that affect the businesses and/or operations of Bitindia and/or the
Distributor;
(l) other factors beyond the control of Bitindia and/or the Distributor; and
(m) any risk and uncertainties associated with Bitindia and/or the
Distributor and their businesses and operations, the BITINDIA tokens,
the Bitindia Token Sale, the Bitindia Wallet, and the Bitindia Exchange
(each as referred to in the Whitepaper).
All forward-looking statements made by or attributable to Bitindia and/or the Distributor or persons acting
on behalf of Bitindia and/or the Distributor are expressly qualified in their entirety by such factors. Given
that risks and uncertainties that may cause the actual future results, performance or achievements of
Bitindia and/or the Distributor to be materially different from that expected, expressed or implied by the
forward-looking statements in this Whitepaper, undue reliance must not be placed on these statements.
These forward-looking statements are applicable only as of the date of this Whitepaper. Neither Bitindia,
the Distributor nor any other person represents, warrants and/or undertakes that the actual future results,
performance or achievements of Bitindia and/or the Distributor will be as discussed in those
forward-looking statements. The actual results, performance or achievements of Bitindia and/or the
Distributor may differ materially from those anticipated in these forward-looking statements.

Nothing contained in this Whitepaper is or may be relied upon as a promise, representation or undertaking
as to the future performance or policies of Bitindia and/or the Distributor.
Further, Bitindia and/or the Distributor disclaim any responsibility to update any of
those forward-looking statements or publicly announce any revisions to those
forward-looking statements to reflect future developments, events or circumstances, even if new
information becomes available or other events occur in the future.
PRIVACY POLICY
By purchasing BITINDIA Tokens, you agree to your personal data, i.e. e-mail address and/or name, being
processed by Bitindia for its business purposes or the purposes of building, promoting, and communica-
ting (about) the Bitindia system and the BITINDIA Tokens.

DISCLAIMER
The presentation of the whitepaper is with the solely for informational purpose.
The participants interested in investing in Bitindia tokens and Token Sale should demand and consider the
various risks prior to making any kind of investment decision in the Token Sale and pre Token Sale as well.

The Whitepaper does not comprise any advice by company, the directors, the investment manager or any
other person, or recommendation to any receiver, by the virtues of participation in the Token Sale.

Bitindia whitepaper does not necessarily identify, or claim to identify, all the risk factors connected
with company.
All the participants must make their own independent evaluation, after making such investigations as they
consider essential, of the merits of participating in the Token Sale.

The accomplice should check with and rely upon their own investment, accounting, legal and tax
representatives and consultants as such matters concerning company and to assess separately the
financial risks, consequences and appropriateness of an investment in company, or if in any doubt about
the facts of this presentation.

Investment in company holds considerable risk and might involve extraordinary risks that may perhaps
lead to a loss of all or a significant portion of such investment , unless the participants completely
understand, be aware of and accept the characteristics of the company and the possible risks inbuilt in
company, they should not invest in company.

Each one of the participant is completely in charge for ensuring that all characteristics of company are
satisfactory to them.
There can be no guarantee that company’s investment purpose will be achieved and investment
consequences may differ considerably over time.

Investment in company is not planned to be a total investment program for any investor.
All the participants with awareness should think about whether an investment
is suitable for them, their circumstances and financial resources.
RESTRICTIONS ON DISTRIBUTION
AND DISSEMINATION
The distribution or dissemination of this Whitepaper or any part thereof may be prohibited or restricted by
the laws, regulatory requirements and rules of any jurisdiction. In the case where any restriction applies,
you are to inform yourself about, and to observe, any restrictions which are applicable to your possession
of this Whitepaper or such part thereof (as the case may be) at your own expense and without liability to
Bitindia and/or the Distributor.
Persons to whom a copy of this Whitepaper has been distributed or disseminated, provided access to
or who otherwise have the Whitepaper in their possession shall not circulate it to any other persons,
reproduce or otherwise distribute this Whitepaper or any information contained herein for any purpose
whatsoever nor permit or cause the same to occur.

NO OFFER OF SECURITIES OR
REGISTRATION
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. No person
is bound to enter into any contract or binding legal commitment and no cryptocurrency or other form
of payment is to be accepted on the basis of this Whitepaper. Any agreement in relation to any sale and
purchase of BITINDIA tokens (as referred to in this Whitepaper)
is to be governed by only the T&Cs of such agreement and no other document. In the event of any incon-
sistencies between the T&Cs and this Whitepaper, the former shall prevail.

You are not eligible to purchase any BITINDIA tokens in the Bitindia Token Sale (as referred to in this
Whitepaper) if you are a citizen, resident (tax or otherwise) or green card holder of the United States of
America or a citizen or resident of the Republic of Singapore or a citizen or resident of People‘s republic of
China.

No regulatory authority has examined or approved of any of the information set out in this Whitepaper. No
such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction.
The publication, distribution or dissemination of this Whitepaper does not imply that the
applicable laws, regulatory requirements or rules have been complied with.
TABLE OF CONTENTS
Introduction 12

Blockchain Technology 13

Economical Aspects 14

Cryptocurrency Market Analysis 16

Indian Market Analysis 18

Bitindia 20

Executive Summery 21

Bitindia Platform 21

Bitindia Project Timelines 22

Functional & Technical Description 22

Bitindia Exchange Architecture 22

Project Planning 23

Mission of Bitindia 24

Bitindia Token 25

Usage of Bitindia Token 26

Roadmap 27

Launch Summary 28

Token Structure 29

Token Value 30

Risks 31

Bitindia System Criteria 33

Final Provisions 34

Contact & Support 35

INTRODUCTION
BLOCKCHAIN TECHNOLOGY
What is blockchain?

A Blockchain is a series of records known as blocks. Such blocks are continuously growing records
that are combined and secured using cryptographic technology. All the blocks in a blockchain inherit:

1 A hash pointer as equal as a connection to its previous block: A hash function is a

mathematical algorithm that maps the data of an inconsistent size to a string (bit string)
of a rigid size; known as a hash function which is constructed to be a one way function,
which makes it impossible to alter or invert the transactions.

2 A Time Stamp: The Time Stamp keeps track of the creation time of a block.

3 Transaction Data: All data related to the transaction.

Basically, Blockchain Technology is a way for one user of the internet to transfer an exclusive fragment
of digital asset to another internet user in such a way which is assured to be safe and protected, Every
person in the world knows that the transfer has taken place, and nobody can challenge the authority of
the transfer.

Blockchains are the most secured by construction and can be stated as a distributed computing system
with High Byzantine Fault Tolerance: That means it tolerates the class of failures known as Byzantine
Generals. Therefore Decentralized Harmony is therefore achieved with the Blockchain Technology. As a
result the blockchains are most convenient for the recording of activities such as Medical data, Events,
Government data, Identity Management, Transaction Processing, Food and other items such as
Traceability etc.

The first Distributed Blockchain that was conceptualized and implemented by Satoshi Nakamoto back in
2008; it serves as a core component of the digital currency Bitcoin.

13
ECONOMICAL ASPECTS
A number of internet based digital currency platforms based on decentralized public ledger have come
into the picture since the inception of Bitcoin in 2008. An essential aspect of these public ledger platforms
is an incentive system that brings out efforts from a distributed global workforce to authenticate and
record transactions on the public ledger and a governance system for the platform.
The mechanics of being able to transfer an entry from to person to another are based on advances in
cryptology that use open-architecture algorithms to convert one string of data into another. Although the
formulas by which the output is calculated are totally open and public, it is essentially infeasible to do the
operation in reverse. Cryptocurrencies has two potential advantages over credit cards and other
payment method for providing such liquidity services. The supporting network only needs to verify that
the private code is valid, which is cheaper than verifying the rightful owner of a credit card or a
cheque slip. With a conventional credit card, pay slip etc. the merchant needs to pay the card company
or the bank a significant fee for the transaction which in an economic sense results from that high cost of
verifying everybody‘s compliance. This is the reason why many merchants are embracing
Cryptocurrencies. Your Cryptocurrencies such as bitcoin, ethereum, litecoin, ripple etc. get deposited into
the Bitindia Exchange Account. The Bitindia Exchange helps to convert the cryptocurrencies into Local
Currency into the bank account of the users and visa versa.

The following charts show the rise in price of cryptocurrencies over the last few years:

Bitcoin Market Price (USD)

5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0

2009 2010 2011 2012 2013 2014 2015 2016 2017

INTERDAY

400.00

300.00

200.00

100.00

0.00

8/26/2016 1/13/2017 6/2/2017

11/4/2016 3/24/2017 8/11/2017

14
ECONOMICAL ASPECTS
These public ledger platforms generally have the following features.

Internet-based:

Cryptocurrencies rely on the Internet as the physical network for sending and receiving currency. That is
different from most payment platforms, such as Visa, which typically rely on private secure communicati-
on networks.

Public Ledger Protocol:

Cryptocurrencies have a protocol for sending, receiving and recording value. The protocol is based on a
public ledger that uses cryptographic methods to secure the values that are sent and received and
provides a public record of transactions. The operation of the public ledger is decentralized.
A collective pool of Individuals verify and record transactions. The valid public ledger is essentially a
consensus among these individuals. This public ledger is called the blockchain and is widely
recognized as the key disruptive innovation.

Container for Value:

There is container that is used to carry value on the public ledger. The container is used to send and
receive value. The container is usually called a „coin“ or „token“ which suggests that it is intended to be a
currency or store of value.

Incentive Scheme for Labor Force:

There is an incentive scheme for the effort and contribution of resources for people to conduct
various record-keeping and verification activities to maintain the public ledger. At this stage ,the
public-ledgers for digital currencies is intensive in labor and computer processing time.
The incentive scheme provides a reward to people for providing labor, computing power, and other
resources.

Open Source Licensing Model:

There is a licensing model to enable people to make changes to the software for the platform.
Typically, public ledger currency platforms use one of the standard open-source licenses so that people
can use the software underlying the public ledger and make changes to it.

Platform Governance System:

There is a governance system to determine key operating principles for the

platform, to adopt changes to the protocol and other add features to the
software, and to drive the evolution of the platform.

15
CRYPTOCURRENCY MARKET
ANALYSIS
Currently, the customer demands are changing and are lookingto have a less time consuming financial
services to make their life easier and effortless. Due to this, people are moving to online transactions such
as Cryptocurrency Transactions as a form of payment. Cryptocurrencies are virtual currencies that can be
used by anyone across the world for various purchases. It is a medium of exchange using cryptography
technology, so as to secure the transactions and to control the creation of additional units of the currency
to stop inflation.

Cryptocurrencies are the future revenue stream in the digital financial world. Cryptocurrency addresses
are established by using public and private keys. They are politically neutral as they are not bound by any
rules or regulations of any specific government, exchange rates, interest rates, and country to country
transaction fee, which makes international transactions and remittances fastest and cheapest compared
to any other form of payment.

Cryptocurrency are said to be more secure than conventional financial instruments, eliminating the chan-
ces of identity theft and other issues that currently plague fiat based electronic payment infrastructure.

Cryptocurrency Market: Drivers and Challenges

Cryptocurrencies provide proper security, authentication, and ease of use allowing the cryptocurrency
holder to send exactly what they wish without any other identification information which is one of the
major hurdles of the market. Apart from this the increasing online transactions over mobile phones, the
cryptocurrency holder can expect less transaction fees and faster transactions. Changing consumer and
business landscapes. have led the demand for the market growth. Other factors for the rising online busi-
ness market is the use of mobile based wallet.

The majority of the population of the world especially in India is still unaware of the benefits of digital
currency. Lack of widespread adoption and capacity limits, which are currently being addressed by
micro-payment channels are hindering the growth of the market in India. Currently only 1.3% of people in
India know about Cryptocurrencies and most of them are only aware of Bitcoin.

16
Cryptocurrency Market: Segmentation

The Cryptocurrency market can be segmented on the basis of end-user, Such End users may be
sectors such as retail, media & entertainment, gaming, healthcare, travel & tourism, transportation &
logistics sector and education.

On the basis of a worldwide region, the cryptocurrency market is believed to be decentralized, that means
it covers all the areas of the world connected to the internet.

Cryptocurrency Market: Regional Outlook

North America and Europe market is in advanced stage of adoption of Cryptocurrency. However, the Asia
Pacific and MEA are expected to the emerging regions. In the places like India and Africa, the popularity
and the usage of various cryptocurrencies are expected to increase gradually in the coming years.

Key Market Exchanges

Some of the leading players of Cryptocurrency exchanges are: Coinbase, Poloniex, LocalBitcoins, Cex.io,
Kraken, Coinmama, Bitfinex, Yobit, Bitstamp, Bitsquare, Zebpay, GDAX, Unocoin etc.

However, there are a lot of new players entering the market as it holds huge business opportunities.

17
INDIAN MARKET ANALYSIS
How Blockchain can change Indian Financial Markets

The blockchain is decade old technology which holds an important place in many countries throughout
the world. Blockchain is a distributed ledger technology that records financial transactions or any kind of
crucial data, in a protected, transparent, observable, and in an well-organized way.

There is definitely a need to adapt blockchain in a broader sense, as it is steadily marching towards
utilization and feasability in various sectors and industries.

Here are a few ways by which blockchain can change the financial markets of India:

1 Blockchain frequently finds alliance with cryptocurrencies like bitcoin. Though, the idea of
distributed ledger can be effortlessly simulated in numerous other industries such as
government, insurance, real estate, brokerage, rent and leasing etc. Each transaction has a
core asset, i.e. piece of land, stocks, or a commodity. By using blockchain technology, we
can make digital blocks that take information about its ownership in an encrypted system.
Nobody but the authorized parties can alter or fake the information on the block, thus,
making the transactions completely safe and reliable. As a result, high amounts of
corporte transactions can profit from the blockchain. As the technology becomes more
established, it can be slowly but surely be adopted to the retail environment.

2 Forged resources are a critical challenge in the Indian state of affairs. The loss due to a
faulty documentation can be indescribable. At the present, for any transaction, a settlement is
required to ensure that the transaction is authentic. Different record keeping mechanisms
such as scattered records and multi-layered approvals etc make it complicated and costly to
confirm the real ownership of any asset. Blockchain makes all this easy since all the information is
readily obtainable in the public ledger and can be confirmed anytime by anyone.

3 Implementing the blockchain can reduce the IT infrastructure as well. There have been
reports that there will be a centrally regulated blockchain that will eliminate the current need
for mediators and result in cheaper transaction cost and time. Furthermore, there will be a large
amount of transparency in the ecosystem.

18
No more centralization

Blockchain helps to get rid of the need for a central regulator in the case of banking, which also allows
smart contracts to be imposed so that banks can maintain to track and disburse loans and shipments
consequently. As far as the companies are concerned, it allows the shareholders an open platform to cast
their votes from anyplace across the world as their terminal becomes a safe and sound voting machine. In
addition to all this, for governments, blockchain can be an innovative way of defining authority, since each
one can stock up land records and titles online, eradicating the cases of fraud.

Along with RBI, which has presented a paper on the capability and scope of the blockchain technology,
the State bank of India has also became a part of the blockchain team, thus creating a system called the
Bankchain in alliance with Microsoft, IBM, KPMG, Skylark and 10 commercial banks, The chain of banks
is on a path to enable more usage and implementation of blockchain technology for the Indian financial
sector.

Blockchain technology is also predicted to decrease the transaction period. It is believed to be helpful for
any sector that has intricate and huge scale back-office procedure that may include phone calls, emails
and paperwork etc.

To cut a long story short, blockchain technology can lay the groundwork for the way new business models
operate by transforming the current intricate, costly systems and transactional procedure for several
industries. This requires more association and co-operation between the industries and their respective
regulators. Taking indication from global developments, the blockchain has started spreading its wings in
India.

While blockchain technology may be in early stages of development and have the need of considerab-
le development and market interest, the path has been set for a major digital revolution, in the financial
market of India.

19
BITINDIA
EXECUTIVE SUMMARY
BITINDIA PLATFORM
Bitndia is a crypto exchange that plans to bring Bitcoin, Ethereum, Ripple, Litecoin to the
masses. Bitindia will have the Bitindia Wallet and the Bitindia Exchange.

The Bitindia wallet is a user-friendly platform, which empowers the user to have secure transactions,
through which he/she can trade in digital currencies and hold the private keys of the crypto money
residing on the blockchain nodes. The Bitindia Wallet will lead to a significant transformation to the
current concept, structure and mechanism of the crypto wallets.

The Bitindia Wallet will be imbibed with features like:

1 Bitindia Wallet will be an Open Source Wallet.

2 It can be accessed on Mobile platforms like on iPhone, Android devices as well as on the
Desktop by any Web browser.

3 Our Wallet is decentralized and thus all of the user‘s information will be safe and protec
ted on our servers, therefore, Bitindia will provide a scam free Wallet platform.

4 Bitindia Wallet will support Cryptocurrencies like Bitcoins, Ripple, Litecoin, Ethereum.
Bitindia will be India‘s first wallet to introduce Ripple & Litecoin in the market.

5 Low transaction fees: The merchants and traders can accept the payments on BitIndia
from any place in India with very little amount of transaction fees.

6 Saving Securely: Bitindia Wallet users can safeguard their assets in the form of digital
currencies, and over a time, can even earn a considerable amount of profit for it.

7 Global Approach: Bitindia Wallet allows you to accept and transfer around the globe, and
exchange with the local currencies.

8 Personal Control: The Bitindia Wallet permits the user to have full access over their private
keys, thus making it a trustworthy and user-friendly wallet.

BitIndia Exchange shall allow users to buy, sell, send, receive, and manage crypto investments. The
Bitindia crypto exchange platform will be launched in the upcoming year i.e. in April 2018.
As a result of the recent trends of cryptocurrencies, Bitindia will permit the Indian
users to trade in major cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin.

Initially, the exchange will be based on four major and popular cryptocurrencies
which are Bitcoin, Ripple, Litecoin and Ethereum.

Further, to enhance our services, Bitindia can start to support other

cryptocurrencies as well.

21
FUNCTIONAL &
TECHNICAL DESCRIPTION
BitIndia Exchange Architecture
The high level modular design on the BitIndia platform is shown below and explained afterwards.

Payment Gateway Bank / Financial Institution

USER INTERFACE
Trading Engine

Blockchain Networks
Mobile Apps Rest API Matching
Sockets Engine
Messaging Market
Reporting
Data
Queues Other
Connectivity Layer

Services

Browser App/
Terminal Crypto Blockchain Network

Bitcoin

Litecoin Etherium

APIs to access Ripple

the platform
from other
applications
Secure Wallets

* this is not the final version. The architecture is yet to be finalised and subject to change/to be improved.

22
 BitIndia platform shall have a number of key components that shall offer a flexible and ease to use
transaction platform to its users:

- User Interfaces – BitIndia will have mobile and browser apps for its users, that will let
them buy, sell, send, receive and store the supported crypto currencies. Over time, several
crypto currencies shall be added as per the market demand.

- Trading / Matching Engine – Trading engine shall allow for crossing of the buys and sell
orders among users, which shall make the investment / trading process faster and
efficient. Only when a user sends / receives the crypto exchanges from external network,
or wallets, the Blockchain networks of each crypto shall be engaged.

- Crypto Blockchain Network – For all the supported crypto currencies, the public block
chain network will be utilized for all transactions.

- Secure Wallets – Secure wallets will allow users to store the crypto-currencies, transacted from
any platform worldwide*.

- APIs – Over time, in subsequent phases, BitIndia shall offer an API for other platforms to
connect to BitIndia liquidity and infrastructure access.

- Redundancy and Resilience – The software running at the primary site is fully replicated
by identical software running at the back up site along with data replication to the near site all
in real time allowing for robustness and stability, with the ability to fail-over quickly in the unlikely
event of an issue.

- Operations Screens - BitIndia administrator(s) shall have Operations screen will allow
for platform maintenance, monitoring of platform health and participant connectivity,
transactions processing and the dissemination of market data etc.

- Operations – ability to monitor the platform, do the offline / online user KYC etc.
- Administrator – ability to define user access.

PROJECT PLANNING
We have already started developing the BitIndia platform. Here is a quick overview of project
planning breakup. We shall be launching our wallet alpha version in November 2017 and
the Exchange in April, 2018

23
MISSION OF BITINDIA
The Indian total population is over 1.2 Billion, yet only 0.5% are aware of and into Bitcoins according to us,
which according to us is a very scarce percentage of the total population.

The mission of Bitindia is to increase this percentage and bring around 20% of the population into the
Blockchain space by making them aware about digital currencies, and thus providing an assured, reliable
platform for Bitcoins and other cryptocurrency related trade in India.

Bitindia wants to create a user friendly, secure, decentralized atmosphere for India, so that people can
carry everyday transections through Bitindia wallet.

Bitindia further envisions to reach out to every person in India, starting from urban areas to educate atleast
20% of the population about blockchain and cryptocurrency.

Bitindia‘s objective is to launch the largest, easiest, and fastest platform to trade in cryptocurrencies in
india.

20 %

0,5 %

24
BITINDIA TOKEN
The BITINDIA token is ERC20 compatible token on the Ethereum blockchain, distributed by The Distributor
during the stages of token sale.

The BITINDIA token will be essential for it‘s system to function and will be independent of any
cryptocurrencies.

It will be a unit of value within our system only.

The tokens in the Private Pre Token Sale, Public Pre Token Sale and Public Token Sale, will facilitate the
entire ecosystem, giving an instantaneous business model to countless projects.

BITINDIA might offer many free services to the users.

As, we want to connect with each and every part of India, the scope and usage of BITINDIA tokens and its
wallet puts forward its wide range of utility, so that people can use them on regular basis, everyday.

25
USAGE OF BITINDIA TOKEN
BITINDIA tokens are the digital token that empowers and fosters the Bitindia user community and also its
platform.

BITINDIA tokens might be exchanged for fiat currency like INR, USD, EUR etc, in the authorities
where such exchange is permissible.

BITINDIA tokens might be exchanged for other cryptocurrencies like Bitcoin, Ethereum, on Bitindia and
other cryptocurrency exchanges if it is permissible.

The minimum purchase during the public sale will be tokens worth 0.16666667 ETH and the maximum
purchase of the token per person will be tokens worth 120,000 ETH

Bitindia will not accept fiat currency during the Bitindia token crowdsale, Ethereum or Bitcoin is accepted.

The Bitindia exchange and wallet will charge a miniscule amount of transaction fees from the users, that
will be used to generate profits.

BITINDIA Token Sale proceedings are available on https://bitindia.co ONLY

You Can use BITINDIA tokens in 3 Ways

1 2 3
Share of Bitindia Share from Bitindia Token Buy Back & Burn
Exchange Profits Wallet Transactions using Company Profits

All token holders will receive
10% of the net fees earned on
the Bitindia Exchange in the
form of Ethereum through a
smart contract.
All token holders will receive
10% of the net fees earned on
the Bitindia Exchange in the
form of Ethereum through a
smart contract.
Every 3 months Bitindia might take
10% of the net profits from fees
earned through Bitindia Exchange
and Wallet and buy back Bitindia
Tokens from anyone who wants to
sell them. Each token we buy back
will be permanently burned. This
increases Bitindia token scarcity
and increases its value over time.

26
ROADMAP

Concept Design
FEBRUARY 2017

Technical
Specification
APRIL 2017
VC Token Swap (Sale)
SEPTEMBER 2017

Pre Token Swap (Sale)

OCTOBER 2017

Legal Structure
OCTOBER 2017

Bitindia Wallet Alpha

NOVEMBER 2017

Public Token Swap (Sale)

NOVEMBER 2017

Token Trading Launch

DECEMBER 2017

Bitindia Exchange
Launch
APRIL 2018

25% Global Blockchain

Trading from India
2022+

27
LAUNCH SUMMARY
Available at Bitindia.co

Token Swap/Sale 2017 Dates Venture Capital Token Swap / Sale=

19th September (12:00 pm IST) - 11th October (12:00pm IST)

Pre Token Swap /Sale =

11th October (12:01 pm IST) - 11th November (12:00 pm IST)

Token Swap/Sale =
11th November (12:01 pm IST) - 11th December (12:00 pm IST)

Type of offer Token Swap/Sale

Total Supply of Bitindia Tokens 180,000,000

Total Tokens Available for Distribution 134,400,000

Platform ERC2

Accepted Crytocurrencies ETH

28
TOKEN STRUCTURE

29
TOKEN VALUE

E = Price of Ethereum (Value taken at 12:00 IST everyday)

n = Crowdsale day number

30
RISKS
Bitindia platform users should carefully read all the information, understand and analyse the risk
related factors, before deciding to participate in the investment and purchase of Bitindia tokens.

The purchase and any other acquisition of Bitindia tokens carries with it significant risk. Prior to
participation, carefully consider the potential risks and, to the extent necessary, consult a lawyer,
accountant, and/or tax professional to evaluate the risk entailed. Do not overcommit.

We make no promises of possible gains or returns. You can potentially lose all your money if the
market price drops to zero. BitIndia tokens are ERC20 tokens on the Ethereum blockchain. You must
access and use them using an ERC20-compliant wallet. It is your responsibility to not lose your
tokens.

This is early-stage project finance. The team is unproven. The market is unpredictable. It is possib-
le that even if the sale threshold is met, funds won‘t be sufficient to feasibly develop the Bitindia
system or there could be enough execution error to cause the project to fail. By holding Bitindia’s
token , the acquirer acknowledges that he/she understands that while every effort will be made to
execute Bitindia’s vision for the Bitindia system, it is possible that it will never be realized.

Cryptocurrencies and project financing through cryptocurrencies have been the subject of regulato-
ry scrutiny by various regulatory bodies around the world. Bitindia and the Bitindia project may need
to change their operations to comply with applicable regulation, and they may become subject to
licensing requirements. Bitindia tokens could be impacted by one or more regulatory actions or
regulatory enforcement, which could impede or limit the ability to continue to develop the Bitindia
system. This uncertainty significantly adds up to risks connected with the acquisition and use of Bi-
tindia tokens. Bitindia will make every effort to adopt its practices to accommodate regulatory needs
and changes as they occur.

The field of digital cryptography is very new and for this reason there is a risk of unforeseen attacks
on several or all parts of the BitIndia system.

Owing to the market prospective, holding and purchasing Bitindia tokens can be a risky and spe-
culative investment. By purchasing, holding and using Bitindia Tokens, the user, investor or anyone
holding the token clearly recognize and presume the risks which are likely to be:

1 Risk of losing access to Bitindia Tokens due to loss of Private keys, or any kind of custodial
or purchaser errors.

2 The user needs to have a private key, or a combination of private keys, which is necessary
to control and dispose of Bitindia Tokens stored in your digital wallet.

3 Because of Owing to the market risks and unprecedented nature of

the crypto world, the investments can become zero.

4 The funds raised in the token generation event are exposed to risks
of theft.

31
5 Bitindia can be significantly and unfavorably affected, if it fails to efficiently administer its
procedures, as its business builds up and progresses, which would have a straight blow on
it‘s capability to maintain the Bitindia platform or even to launch any other future platforms.

6 Risks arising from lack of governance rights or any changes made to put restrictions over
the cryptocurrency utilization in India.

7 Risk of mining attacks, uninsured losses, from taxation, uncertain regulations and
enforcement actions, associated with markets for Bitindia tokens etc.

8 Risks arising from dissolution of the company, unfavorable fluctuation of Bitcoin, Ether
values, hacking, cyber attacks and security weaknesses

9 Risks associated with the Ethereum protocol, because Bitindia tokens and the Platform
are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the
Ethereum protocol may have an adverse effect on the platform or Bitindia Tokens.

10 General global market and economic conditions may have an adverse impact on Bitindia‘s
operating performance, results of operations, and cash flows.

11 Investing in Bitindia‘s Private Pre Token Sale, Pre Token Sale and Token Sale can be risky
because of the uncertainities in the initial stages.

12 Bitindia token holders can lose their investments if owing to the Bitindia tokens falls to
zero, by any means of market forces.

13 The risks related to the Token Sale investments should be carefully analysed, and speculated
correctly, so as to avoid any hassles after or during the Token Sale stages.

32
BITINDIA SYSTEM CRITERIA
The Bitindia token will be an ERC20 token on the Ethereum blockchain.

The Bitindia token will be the native cryptocurrency of the Bitindia system. Funds collected
through the token sale will be used to develop the Bitindia system. The value of Bitindia tokens are
fully dependent upon the developments of Bitindia and market demand.

The Bitindia token does not represent or confer any ownership right or stake, share or security or
equivalent rights, voting right or any right to receive future revenue shares, intellectual property
rights or any other form of participation in or relating to the Bitindia system,, other than rights
relating to the use of the platform.

Our token is a unit of payment inside a single system. According to law, the Bitindia token is not a
security. Bitindia makes no representation that the Bitindia token is, or is not, a security.

Bitindia intends to hold the funds raised in the token sale in a combination of ethereum, bitcoin,
litecoin, ripple, or any other fiat currency.

Bitindia will work to get Bitindia tokens listed on several exchanges. We cannot guarantee they
will be listed, accepted to specific exchanges or, in the case where they are listed on an exchange,
remain on that exchange.

33
FINAL PROVISIONS
Bitindia will cooperate with all law enforcement inquiries, subpoenas, or requests provided they are
in congruence with law.

Bitindia reserves the right to change, modify, add, or remove portions of these terms at any time du-
ring the sale and afterward by posting the amended terms on the Bitindia project website (Bitindia.
co, referred to as „the website“), as well as making a public announcement. The revised version will
be effective at the time Bitindia posts it on the website unless indicated otherwise. Nonetheless,
Bitindia will provide 7 working days notice of any substantial changes.

If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that
term, clause or provision will be severable from these Terms and will not affect the validity or enfor-
ceability of any remaining part of that term, clause or provision, or any other term, clause or provision
of these Terms.

The company may, at its sole discretion, assign its rights and/or delegate its duties under this
contract. You may not assign your rights or delegate your duties, and any assignment or delegation
without the written consent of the company, which the company may withhold at its sole discretion.

By acquiring BITINDIA tokens, you confirm that, to the extent permitted by law, you are authorized to
acquire the tokens and accept to be bound by these terms in your relevant jurisdiction.

34
CONTACT & SUPPORT
If you have any questions about Bitindia, Our team, Our Technology, or anything
in between, feel free to reach out.

1. Website :
https://bitindia.co/

2. Email :
ico@bitindia.co

3. Twitter :
https://twitter.com/bitindia_co

4. Facebook :
https://www.facebook.com/Bitindia.co/

5. Youtube :
https://www.youtube.com/channel/UCRWgE1HzkEsB38EcmK5tXkg

35
Copyright. All Rights Reserved by Bitindia.