BOOCASH GOVERNANCE

 

  1. Founders

Around this project, our goal is to:

– Federate the best technical, financial and managerial profiles of the world without distinction of country, culture, religion, or race

– Create a global service (BHB) accepted by all and backed by a universal currency (BOO) which is only driven by the market and out of the control of any individual, entity or nation

– Create a totally independent system governed solely by the laws of the market and by smart contracts.

To guarantee this, we chose to adopt the same strategy as Satoshi Nakamoto (the founder of Bitcoin) to stay anonymous.

We are then an anonymous network composed of various profiles (IT developers, cryptocurrency primo-fans, developers, financiers, investors, hoteliers, entrepreneurs, etc.) sometimes leaders in their industries and from all continents.

The upcoming Boocash World Holding will be created and run by other people as indicated below. The Boocash World Holding is the future management entity of BHB (Boocash Hotel Booking) App.

 

  1. Volunteers and independent consultants

 

They are different from the founders, constitute the 1st circle of volunteers and play a decisive role in the establishment of the Boocash Ecosystem.

They are of different profiles: Technical sales, Marketers, bloggers, Speakers, communicators, Computer Developers, Financials, etc.

They are rewarded with bounties according to their contribution judged on the result. Recruitment and intervention between February 20 and April 15, 2018.

 

  1. Launch team

 
Responsible for setting up the first IMD (Independent Master Developers) and IBD (Independent Business Developers) network in the main tourists destinations around the world, this Team is managed by Directors recruited by the founders.

The remuneration of the members of this team as well as the expenses of management of the missions will be financed from the funds collected during the ICO. This team is dissolved the day after the establishment of the board members and the management team of Boocash World Holding.

 

  1. Shareholders

Access to the shareholding of Boocash World Holding (BWH) is on a voluntary basis and after deposit on a shareholder vault account of at least 5000 BOO.

The distribution of capital is based on the number of BOO held by the shareholder in his shareholder vault account.

To maintain their status, any already admitted shareholder must lock in his shareholder vault account the desired amount of BOO corresponding to his participation in the share capital. The BOOs on this vault account belong to the shareholder and can be unlocked at any time.

The right to dividends is calculated and to vote in the decisions of the general meeting corresponds to 1 BOO = 1 voice. The shareholder is therefore required to have blocked at least 1 BOO to keep their shareholder status of the Boocash World Holding (BWH).

Exceptionally, from April 30, 2018 to April 30, 2019, each shareholder must have blocked at least 5,000 BOO. After April 30, 2019, 1 BOO is enough to maintain the status assuming that the shareholder was already admitted beforehand.

After April 30, 2018, any new shareholder must meet one of the following three criteria:

  • Being a new IMD (Independent Master Developer)
  • Agree to block 5,000 BOO for a minimum of 1 year. The number of 5,000 BOO will decrease to 500 BOO from January 1st, 2022.
  • A new Board member elected by the general assembly.

 

 

  1. Board members

The Board members are proposed by the IMD and elected by the general assembly. Each IMD can propose a maximum of two (2) persons for the election.

The Board members are elected by the shareholders. There are eleven (11) Board members, including at least one representative from each continent. The mandate of Board member is valid for 3 years renewable.

Non-shareholders elected as Board members are entitled to shareholder status. But hey are required to hold at least one deliberative vote at the general meeting.

The Board members elect among them the Top positions of the Management Team: Chairman, CEO, Deputy CEO and CFO.

 

  1. Management team

The Management team is run by a Chairman, a CEO, a Deputy CEO and a CFO, all elected by the Board members. Executive mandates are renewable for 3 years.

The other management positions and staff are recruited by the Management Team.

The functioning of the Board as well as the executive is defined by the Board members and approved by the General Assembly of shareholders.

No decision of the Board can concern the operation or the management of the BOO Token which basic rules remain fixed and unchangeable.

The Board’s decisions therefore concern the Boocash Word Holding (BWH) and the Boocash Hotel Booking (BHB) platform and the bodies that manage this platform..

BOOCASH DISTRIBUTION NETWORK

  1. BWH – Boocash World Holding
  • Incorporated in Switzerland or Singapore.
  • 100% Owned by shareholders and IMD as stated above.
  • Creation date: May 02, 2018

BWH will charge a commission of 1% on bookings made through the BHB platform and will redistribute them in the distribution network as follows:

  • BWH retains 20% of the 1%
  • The IMD involved in the transaction receives 30% of the 1%
  • The IBD involved in the transaction receives 50% of the 1%.

 

  1. IMD – The Independent Master Developers

The Independent Developers (Masters and Business) are the key players of the Boocash Distribution Nerwork. Mainly, the IMD is responsible for the Customer Relation Management (CRM) while the IDB is mandated to prospect and list properties in their area.

Area of intervention: markets of 50 million to 100 million

For example: 3 masters for the USA, 1 for France, 1 for Germany and 12 for China.

Missions of the IMD:

  • Legally registered company that will employ staff to carry out its tasks.
  • Customer relationship management on the platform for the bookings of their area
  • Recruitment, supervision and management of the IBD network in their area

IMD selection criteria:

  • Minimum investment of 50,000 USD in business unit
  • Incorporation of a local business dedicated to the BHB business
  • Ability and experience in business management

Criteria for maintaining status:

  • Each IMD is evaluated each year on i) the size and quality of its portfolio, ii) the market share won, iii) the evolution of turnover, iv) customer evaluations of its after-sales service and v) customer service. The final grade must be greater than or equal to 5/10. A rating <5/10 over 2 consecutive years leads to delisting from the IMD.
  • Each IMD is a shareholder of the BHS holding company and must have at all times a shareholder vault account of at least 5000 BOOs.
  • For serious misconduct or in the event of a breach of an important operating rule, an IMD may be written off by decision of the Board of Directors and approved by an Extraordinary General Meeting or a General Meeting of the shareholders.

In case of deletion of an IMD, a new IMD is constituted. The choice of the majority of the IBDs concerned is retained. If no majority is released during the first vote, the BWH then takes part in a second vote with a preeminence vote of 25%.

IMDs are remunerated as follows:

  • Between 96 and 6 BOO per hotel referenced according to the moment and quality of the property
  • Commission on hotel reservations of its area: 30% of the 1% charged by the system.

It should be noted that IMD commissions apply to hotels in all IBDs in its geographical area.

 

  1. IBD – The Independent Business Developers

Area of intervention: Markets up to 5 million people

Legal form:  Independent consultant or legal local incorporated structure.

IBD are remunerated as follows:

  • Between 224 and 14 BOO per hotel referenced according to the moment and quality of the property
  • Commission on hotel reservations of its area: 50% of the 1% charged by the system.

 

It should be noted that IBD commissions apply only to the hotels of its portfolio, ie those referenced directly by it.

The criteria for selection and delisting of IBDs are defined by the IMD they belong to.

 

  1. Hotels

Hotels constitute the last but not the least link in the chain. Accommodation is the reason for a client to pay on the system. So BHB will set strict quality criteria for the selection of the hotels to list.

In addition to the IBDs’ services, Hoteliers and home properties owner are able to list their properties directly on the platform.

Our goal is to list at least 50,000 properties by the end of 2018.

 

  1. Fird-party partners

Partnerships will be made with hotels chains and other hotel contractors. Also, with the API’s Boocash will be accessible to many partners in the large travel industry.