Alethena
Alethena
Token: ATH


Swiss Blockchain-Asset Rating

PreICO dates
Start date: 2018-05-23
End date: 2018-05-30

ICO dates
Start date: 2018-06-06
End date: 2018-06-27

Registrated in: Switzerland

Platform: Ethereum
Type: ERC20

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Alethena categories
Investment
Alethena whitepaper
Video
Alethena token sale
KYC passing required Yes | Whitelist No | Restriction for countries No
Soft cap 3,000,000 CHF
Hard cap 30,000,000 CHF
Tokens for sale 3547500000
Token distribution in ICO
64.5
64.5
Price 1 CHF = 100 ATH
Acceppting BTC,ETH,FIAT
Bonus in ICO 15%
Alethena is the first Swiss ICO and Blockchain-Asset Rating Agency. With deep technical insight, vast financial market experience, and a conclusive rating methodology, Alethena connects blockchain and established investors. The methodology entails 4 dimensions (Technical, Business, Governance, Legal), 17 clusters and 60+ factors, ranging from legal to smart contract security. With independent, objective, and neutral due diligence Alethena monitors ICO projects and assures investment security.
Alethena news, social
Alethena search trends in Google
Random whitepaper excerpts

Contents
1 Alethena as the project of Equility AG
1
2 Motivation
1
3 Current challenges
3
3.1 Technical challenges
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.2 Business challenges
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
3.3 Legal challenges
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
3.4 Governance challenges
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
4 Vision: it is time for transparency
10
5 Project Alethena
11
5.1 What is provided with Alethena?

the service offering
. . . . . . . . . . 12
5.2 Why does Equility AG need funding for Alethena?

the business plan
. 13
5.3 To whom is Alethena directed?

the target audience
. . . . . . . . . . . 14
5.4 How will Alethena scale and leverage the crowd?

the decentralisation
strategy
. . . . ....

1
|
Alethena as the project of Equility AG
Equility AG is a public limited company founded in August 2017 and registered in
the Commercial Registry of the Canton of Zug under the number CHE

460.255.304.
Alethena is the project of Equility AG and therefore embedded in a sustainable and
transparent legal setup subject to Swiss law. No other projects are conducted within
Equility AG. Thus, Alethena remains the only financial revenue stream of Equility AG.
In that sense, Alethena is a brand of Equility AG. By nature, the balance sheet, profit
and loss statement, and the cash flow statement of Equility AG will be determined
by Alethena. The emission of Alethena tokens including all the raised capital will be
exclusively limited to the Alethena project. Alethena tokens (cf.
Section 6
for the
detailed token specifications), however, do not provide the token holder with any direct
or indirect equity stake of Equility AG.
2
|
Motivation <...

$600m
$500m
Total Funds Raised by Month
Angel & Seed VC Funding (Internet)
ICO Fundraising
$400m
$300m
$200m
$100m
$0m
Jul-201A6ug-201S6ep-201O6
ct-201N6ov-201D6ec-201J6an-201F7eb-201M7ar-201A7 pr-201M7ay-201J7un-2017Jul-2017
Figure 1
– More than one billion US dollars have already been raised by ICOs in 2017, and in the
recent months even the VC seed- and angel funding volume was overtaken as the main source of
tech funding.
Source:
CoinDesk, CB Insights, Goldman Sachs Global Investment Research.
After the increasing number of ICOs in the market has also triggered an increas-
ing amount of so-called scams, it is time to provide transparency to the market and
investors.
Equility AG has therefore set itself the goal to serve the market with
transparency. With Alethena a due diligence methodology, tailor-made for star-
tups in the blockchain space, is employed to determine an ICO rating as a quality
measure...

$2500m
All-Time Cumulative ICO Funding
$2000m
$1500m
$1000m
$500m
$0m
Feb-2014Jun-2014Oct-2014Feb-2015Jun-2015Oct-2015Jan-2016May-2016Sep-2016Jan-2017May-2017Sep-2017
Figure 2
– Cumulative amount of ICO funding volume. The exponential rise has started in Q2 2017.
Source:
CoinDesk.
3
|
Current challenges
Investments into startup projects are subject to tremendous risks, not least due to
the critical information asymmetry caused by the informational opacity. Whilst the
founders and team members are intimately linked to their vision, project execution
plan, and product development, it is an almost impossible task for angel/VC investors
for instance to conduct a fair valuation solely based on hard facts and figures. Instead
of screening and analysing past balance sheets and profit statements, the investor must
be able to rely, besides the available and reliable hard facts, on qualitative soft factors
and his gut feeling.
...

So what is an ICO about? Rather than looking to traditional angel or venture in-
vestors to place capital as an equity investment, companies developing new blockchain-
based products and services have turned to the cryptocurrency community to crowd-
source the purchase and usage of their token in an ICO. This new fundraising tool is
similar in some ways to a crowdfunding campaign, but instead of offering a copy of a
product or shares of equity in a startup, what is being offered are digital tokens. This
process of selling new cryptocurrency tokens in an ICO results in funding received via
cryptocurrency, most commonly in Bitcoin or Ether. As an alternative, fiat money (e.g.
USD, EUR, CHF) is betimes considered.
A token is a digital contract that can refer to a wide range of services. If a token
defines a shareholding in a company, an ICO is actually comparable to an initial public
offering (IPO). However, the token can also be similar to a traditional bond and thus
an ICO is more like a bond issu...

Figure 3
– In general, ICO projects face technical, business, legal, and governance challenges. How
they approach and handle these challenges will determine their long-term success and the return on
investment of the token holders.
Abbreviations:
1) PoW = Proof-of-Work: A consensus distribution
algorithm that requires an active role in mining data blocks often consuming resources such as
electricity; 2) PoS = Proof-of-Stake: A consensus distribution algorithm that rewards earnings based
on the number of coins you own or hold; 3) KYC = Know-Your-Customer; 4) AML = Anti-Money-
Laundering.
the core of traditional industries. However, in contrast to the internet, blockchains are
distributed, open, inclusive, immutable, and secure. For this extraordinary technology
to fully exploit its potential and far-reaching application spectrum, the technical setup,
which constitutes the backbone of every blockchain project, requires an appropriate im-
plementation. In particular, for ICO blockch...

must also keep in mind that blockchains are antifragile structures
4
and their stability
increases with every detected and fixed bug. The number of detected bugs therefore
does not allow a direct and linear conclusion to the status quo quality of the blockchain.
In order to correctly assess the maturity of the blockchain, a proper due diligence is un-
avoidable. In particular, we decompose the blockchain environment into the following
two subsets (cf.
Figure 4):

technical flexibility and

network sustainability.
These critical blockchain components have to be accurately reviewed. They do not
have to be mutually exclusive nor collectively exhaustive with respect to the superset
blockchain environment.
Figure 4
– The blockchain environment can be (partially) decomposed into the subsets: 1) technical
flexibility and 2) network sustainability. However, as the figure suggests, they do not have to be
mutually exclusive nor collectively ex...

nodes, or is there central administration defining the users who can represent a node
(e.g. Ripple)?

What kind of consensus mechanisms (e.g. proof-of-work, proof-of-stake) and ad-
vanced cryptographic tools (e.g. zk-SNARKs
6
) are applied in the blockchain and
how efficiently are they implemented (e.g. validation speed)?
3.2
|
Business challenges
As it is the case for the traditional VC market, only those projects in the ICO space will
survive in the medium- to long-term which, in addition to a good product specification,
also have a well-conceived monetisation strategy and a consistent implementation ap-
proach. Thus, a diligent business case assessment is inevitable. Within Alethena the
business case is broken down into the four categories depicted in
Figure 5:
1. market analysis,
2. product specification,
3. target-operating-model design, and
4. visionary outlook.
Market
The market analysis is one of the most impo...

Alethena Roadmap

1
2016
Founders privately start investing in ICOs, notice the absence of proper due diligence and transparency.

2
July 2017
First Prototype of own due diligence methodology is being developed.

3
August 2017
Legal structure ‘Equility AG’ is set up and platform and ICO preparations begin.

4
December 2017
Official go-live for Alethena.

5
January 2018
Strategic partners and advisors join, private seed round closed.

6
April to July 2018
ICO to independently fund the development of product and methodology.

7
December 2018
Release full product with v2.0 methodology. Become top-of-mind Blockchain Asset Rating in Europe.

8
2019
Enhance and scale methodology with machine learning and R&D department.

9
2019-2020
Release largely automated v2.0 product.

Pascal Marco Caversaccio
Pascal Marco Caversaccio CO-FOUNDER & CEO

Markus Hartmann
Markus Hartmann CO-FOUNDER & PRESIDENT

Tim Glaus
Tim Glaus CO-FOUNDER & COO

Alexander Thoma
Alexander Thoma CO-FOUNDER & CFO

Benjamin Rickenbacher
Benjamin Rickenbacher CHIEF SCIENTIFIC OFFICER

Leonard Dulay-Winkler
Leonard Dulay-Winkler CHIEF MARKETING OFFICER

Jeff Frey
Jeff Frey COMMUNITY MANAGER & GROWTH HACKER

Dominik Schöni
Dominik Schöni PAPERS.CH TECHNICAL PARTNER - SOFTWARE ENGINEER

Pascal Brun
Pascal Brun PAPERS.CH TECHNICAL PARTNER - UI/UX DESIGNER

Niklaus Knecht
Niklaus Knecht PAPERS.CH TECHNICAL PARTNER - VISUAL DESIGNER

Tammo Mamedi
Tammo Mamedi OVERNICE – MARKETING SPECIALIST

Julian Bauer
Julian Bauer OVERNICE – MARKETING SPECIALIST

Miriam Graf
Miriam Graf CLARITY PR – PUBLIC RELATIONS SPECIALIST

Thorsten Hens
Advisor Thorsten Hens STRATEGIC ADVISOR

Urs Wälchli
Advisor Urs Wälchli STRATEGIC ADVISOR

Luzius Meisser
Advisor Luzius Meisser STRATEGIC ADVISOR

Israel Serrano Ortiz
Advisor Israel Serrano Ortiz STRATEGIC ADVISOR

Pascal Forster
Advisor Pascal Forster STRATEGIC ADVISOR

Robert Lemoyne
Advisor Robert Lemoyne STRATEGIC ADVISOR

Timothy Mastroianni
Advisor Timothy Mastroianni STRATEGIC ADVISOR

Roger Halbheer
Advisor Roger Halbheer STRATEGIC ADVISOR

Julian Bauer
Julian Bauer
OVERNICE – MARKETING SPECIALIST
Communications Designer
UI/UX Design
Tammo Mamedi
Tammo Mamedi
OVERNICE – MARKETING SPECIALIST
Communications Strategist
UI/UX Design
Thorsten Hens
Thorsten Hens
STRATEGIC ADVISOR
Member of the Board Crypto Real Estate AG
Member of the Board Crypto Real Estate AG
Urs Wälchli
Urs Wälchli
STRATEGIC ADVISOR