Bread Whitepaper

Abstract

Bread is embarking on a journey to become the world’s largest decentralized financial institution. Many
of our team members have been involved in cryptocurrency since the early years, and have watched the
rise of bitcoin, Ethereum, and other decentralized digital assets pave the way for a brand new type of
financial infrastructure. These technologies make it possible for users to interact directly with their
money, instead of relying on other businesses and entities which can be costly and limiting.
We envision a future in which money is as fluid as information on the internet. Consumers are in control
of their own finances, and rely on no one but themselves to keep their money safe. No longer can a hacker
gain access to a single server and walk away with millions of credit card numbers. No longer do the
livelihoods of millions of people rely on banks being able to manage their assets properly, weathering the
risk of embezzlement and greedy investment practices.

Anything that currently can be done through a bank, credit card issuer, or payment processor will soon be
doable with cryptocurrency, all on the user’s own device. With a basic smartphone, the average consumer
will be able to receive their salary, pay their bills, take out a loan, invest in stocks and savings accounts,
send money around the world, and make purchases online.
This is the future cryptocurrencies make possible. Bread will turn that future into a reality, by becoming
the largest, decentralized financial institution in the world—all without holding customer funds or
personal data.

So how does Bread make this possible? At the core of the Bread platform are our standard wallet
capabilities, which have always been, and will always be, free. This allows our customers to receive,
store, and send cryptocurrencies to anyone, anywhere in the world, at any time. Bread connects directly to
cryptocurrency peer-to-peer networks, which means users don’t rely on us to access their money. If
Bread’s corporate entity shuts down or if our servers are hacked, each user’s funds remain safe and
protected in their own device.

Outside of simply managing cryptocurrencies, Bread partners with third-party service providers around
the globe to allow users to access a wide range of additional services through the Bread platform. It takes
a lot of time and money to set up a local financial service and become legally compliant, and instead of
tackling these endeavors directly, Bread seeks out quality services that already exist around the world.
Bread ensures that every service is operating legally and meets Bread’s high quality standards, and
regardless of how the service operates outside of the Bread platform, we ensure the experience using the
service through Bread is as user-friendly as possible. Simplicity and security are our top priorities.
To create more value for our users, increase user growth, and support the development of Bread’s global
financial platform, we are launching the first-ever loyalty rewards program offered by a cryptocurrency
wallet.

The Bread Rewards program will be built around the Bread token, which users can utilize to unlock
special perks and discounts in the Bread app. Users will be able to earn Bread tokens through various
promotions which are designed to increase user adoption or otherwise offer value to Bread. For example,
users could be rewarded for posting about Bread on social media, answering a simple user survey, or
simply holding a certain amount of value in their Bread.

Tokens will be built on Ethereum and, like any other cryptocurrency held in Bread, will remain in the
user’s total control. This gives users the flexibility to transfer or otherwise use their tokens independently
without relying on Bread, making this a very powerful rewards program.

BRD whitepaper

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Bread Whitepaper

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