EBCoin Whitepaper

The EBCoin ecosystem will revolutionize the duty free/tourism tax refund market, currently
estimated to be valued at $60 billion a year. EBCoin will function as an ERC20 token, standardized on
the Ethereum blockchain and will be complemented by a complete eWallet solution. By using the
EBCoin platform, consumers will receive their refunds instantly and can use the proceeds as a digital
currency. With EBCoin, tax refunds will be transparent, resulting in greater efficiencies for tax
authorities. For retailers, EBCoin will significantly reduce the high costs associated with the
inefficient systems presently being used. It will also help promote higher spending by tourists at
participating duty-free retailers, where consumers will be able to present payment using their
EBCoin wallet as an optional payment method.

Our research has shown that up to $24 billion in sales tax refunds are unclaimed by travelers. This is
due to inefficiencies in the current systems, such as paper based processes associated with collecting
tax refunds at points of departure. In addition, the industry currently charges merchants processing
fees of up to 30% on the tax refund amount. This limits the effective use of sales tax refunds as an
incentive to expand the shopping habits of tourists at their travel destinations.

The EBCoin ecosystem consists of: consumer interfaces in the form of a mobile wallet application,
the EBCoin token as a new digital currency, ATM kiosks in global airports, and merchant interfaces
for accepting payments and participating in loyalty programs. The EBCoin token will act as a method
for accepting payments by participating retailers, as well as having the capacity to process loyalty
benefit program transactions. In turn, the ATM kiosks will support instant conversion to fiat or other

The EBCoin project is backed by KR Partners Co. Ltd (KRP), a Korean based payment services provider
established in 2006, specializing in tourism, travel and duty-free industries. KRP now has over 6,000
online and offline merchants in South Korea, China, Japan and Southeast Asia. Clients include
airlines, duty-free shops, department stores and hotels. EBCoin has an international Board of
Advisors, with deep domain experience in digital payments, financial technology services, tax
refunds and monetary systems.

Phase One of the EBCoin go-to-market strategy is to target the tourism corridors between China and
South Korea, as well as Japan and South Korea. In addition, EBCoin will also focus on key tourism
corridors for Chinese, Korean and Japanese tourists in Southeast Asia. Phase Two will expand to
target other key Asian tourist corridors, including Europe and Australia. Further, we have also
identified that there are tremendous opportunities in other duty-free hubs, such as Dubai and Abu
Dhabi. These and others will be included in future phases of our project development.

EBCoin Website
EBCoin Whitepaper