Please describe your proposed solution.

1.In order to make this happen, it is necessary to advocate a new business model and involve various business stakeholder

In this regard, we have already involved a target company with several tens of thousands of employees.Due to the NDA, we cannot provide details, but here is a summary of the giant companies currently in business meetings.

<u>Printing and advertising companies and others</u>

・Consolidation of personal information management companies

<u>General education company</u>

・Overseas expansion of education services and improvement of portability of education records

<u>System development company</u>

・Utilization in the area of EC x tourism

2.Confirmation of compliance with the Personal Information Protection Law and governance design

As described in 1. above, since this is a new operational model for personal information, it is essential to confirm legal compliance. In addition, new governance rulemaking will be required to ensure smooth operation.

The case will be supervised by team member Kotaro Kong, an attorney with one of the largest law firms in Japan. He can also make policy recommendations to the government, so if there are flaws in the current law, we can include the option of amending the law.

3.After the model is proposed, a system is required to enable PoC implementation in a shorter period of time and at a lower cos

The details are as follows

・Different interaction VC schemas need to be set up among various stakeholders.

・The system needs to be a model that can be implemented as an add-on to an existing system using a SaaS model.

ProofSpace's solution is the best solution to solve these problems, and we will work with EKOIOS to localize it for Japan in this project.

ProofSpace has cooperated with us on a Japanese government project last year.

Why us

As described in 1~3, we have already made progress on some of the more difficult issues that we have identified as challenges. We have also selected services that we believe are optimal for the project and have formed a team. The companies participating in the project and the members of the team have excellent track records.

How impact

Even if only one of these companies were to take on the project, the impact would be extremely high.

They have hundreds to thousands of clients, including major corporations, and a strong presence there. The hurdles for participating in Verifier's rolls will be lowered.

In addition, by creating an example of this large-scale implementation, it can be used as a model for exporting to other countries, and it is also expected to be disseminated in the context of Data Free Flow with Trust, which Japan is leading at the G7.

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Through our past activities, we have begun to build a network with major companies, and we are in a situation where we can immediately enter into business negotiations with them.

With the distributed ID solution we are developing in this localized version, we aim to lower the barriers to the introduction of the SSI ecosystem and create use cases for AtalaPRISM in the enterprise.

After creating model cases, the company intends to link data with other countries and export the model to other countries.

In Japan, the Japanese government has made Web 3.0 a national policy, and in the field of distributed ID, the Government Digital Agency has launched the TrustedWeb project, which is attracting attention from major companies in the context of DFFT, the slogan of the G7.

Privacy Laws

When trying to build a new SSI ecosystem, there is a high possibility of running afoul of laws surrounding personal information. We will coordinate legal interpretations and judgments of validity with the lawyers on our team members and reflect them in our products.

If we cannot avoid such a situation, we will submit a proposal for the amendment of the law to the Diet members through DAO, to which we belong.

Cardano

We believe that Cardano will contribute to the expansion of the ecosystem based on Cardano by increasing its presence and transactions.

The process of building the SSI business model and forming a consortium involving actual companies will be accumulated.

How do you intend to measure the success of your project?

1.Launch of localized model in Japan

2.Number of companies that have adopted the project

3.Number of companies in business meeting

Please describe your plans to share the outputs and results of your project?

What are your plans to spread the project’s outputs over a reasonable timescale?

<u>For Community</u>

・Monthly and Final Reports

・Eastern Hemisphere Town Hall

・SNS

・Press Releases

<u>For Enterprise</u>

・Press Release

・BlockCahinEXPO (scheduled for October)

・Various events

How do you plan to use the results of the project for further R&D activities?

・We will use the results of the project as a PoC for companies that have new business opportunities, and accumulate knowledge of SSI's business model and governance model.

・We will continue to refine the service by conducting additional development when new specific issues arise.

・Use it as a model for discussions with new experts to accumulate knowledge.

What is your capability to deliver your project with high levels of trust and accountability?

<u>This project will be a joint project between "Infinect", "ProofSpace", and "ekoios".</u>

Infinect, Inc.

This is a joint project of three companies, Infinect, ProofSpace, and EKOIOS, which was adopted as a national project in Japan and provided development support.

The project has been adopted as a national project in Japan, and Infinect has provided development support.

A lawyer specializing in personal information is a member of the team. As one of the DAO's activities, it also makes policy proposals to the national government through Diet members and the Diet Members Caucus. The Nomad Visa has already been included in the Japanese government's policy policy for FY2023.

ProofPace, Inc.

ProofPace has already developed and launched a DID/VC solution.

Partnerships with UNDP, WHO, MicroSoft, etc.

ProofPace is a Japanese national project with Infinect's Kuniaki.

ekoios, Inc.

ekoios has developed many products in the Web 3.0 area. They have developed many products in the Web 3.0 area, including a crypto asset exchange system, Wallet GameFi, and an NFT marketplace.

They have experience in developing web2.0 institutional systems.

We would like you to make a comprehensive judgment on these.

The steps or processes that demonstrate that you can be trusted to manage funds properly.

Open a dedicated Wallet account and provide proof of transaction to each party

What are the main goals for the project and how will you validate if your approach is feasible?

Main Goals

1.Launch a Japanese localization model for ProofSpace products

2.Establishment of SSI business model, formation of consortiums in Japan, and creation of enterprise case studies

3.Collaboration projects between Japan and other countries, or exporting successful Japanese models to other countries

Verification Method

1.Confirmation of completion of product development

2.Monitoring of Infinect's business negotiations with Japanese companies and organization.

If your goals cannot be quantified numerically, please be sure to include a clear description of how you believe the goals of your project should be measured and considered.

The KGI for this project is the development of the solution, with the objective of completing its launch. On the other hand, the specific numerical targets for the project, including the project implementation in a large company, stakeholder involvement, consortium building, and governance framework building, are highly uncertain, so we decided to avoid setting them as KPIs. However, since it is inevitable to take such an approach toward implementation, we will submit a report on the transition as much as possible.

How you intend to implement your approach?

"ProofSpace" and "ekoios" will collaborate on the development of the system, which will be coordinated by Infinect. Infinect will play a central role in the development of the system, providing input on business negotiations with Japanese companies, defining requirements, and conducting marketing and lobbying.

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

M1: ~1st Month

<u>Define system requirements</u>

Infinect construction requirements were shared between ProofSpace and EKOIOS, and system development requirements were defined by both companies.

M2: 2nd~3rd Month

<u>Front-end construction, API construction with ProofSpace, API construction with AtalaPRIMS</u>

Based on the requirement definition created in step 1, ProofSpace and EKOIOS will develop the system.

M3: 3rd~4th Month

<u>Operation testing</u>

Operation testing of the system developed in step 2 is conducted by the three companies. Check for bugs, etc.

M4: 4rd~5th Month

<u>Bug fixes</u>

Bugs found in 3 are fixed by ProofSpace and EKOIOS.

M5: 5th~6th Month

<u>Acceptance inspection</u>

Acceptance and acceptance inspection at Infinect

Please describe the deliverables, outputs and intended outcomes of each milestone.

A summary report showing the progress of each phase of the project. The final deliverable is planned to be a demo video created and delivered after the system is completed.

We also plan to report on trends in the companies with which we have business negotiations, trends in consortium formation, etc., through these products to the extent that we are able to report on them.

<u>M1: ~1st Month</u>

Define system requirements

Outcome:Requirements statement

<u>M2: 2nd~3rd Month</u>

Front-end construction, API construction with ProofSpace, API construction with AtalaPRIMS

Outcome:Reports on Developments by Function

<u>M3: 3rd~4th Month</u>

Operation testing

Outcome:Test Results, Report of revisions

<u>M4: 4rd~5th Month</u>

Bug fixes

Outcome: Report of revisions

<u>M5: 5th~6th Month</u>

Acceptance inspection

Outcome:Demo Movie

※For each output, results at each milestone may be partially undisclosed or not presented if confidential information is involved.

Please provide a detailed budget breakdown of the proposed work and resources.

Infinect

<u>Work and Role</u>

1.Post-adoption reporting (video creation and reporting)

2.Liaison with each business

3.Evangelist activities for consortium formation

4.Coordination of each company

5.Governance formulation

6.Lawyer investigation of laws and regulations surrounding and conforming to the Personal Information Protection Act

<u>Budget</u>

75,000USD

・Director and Marketer: 65.2USD/h* 960h= 62,600USD

・Engineer Advisor: 145USD/h* 48h= 6,960USD

・Lawyer Advisor: 217USD/h* 24h= 5,217USD

ekoios

<u>Work and Role</u>

1.System development

2.Requirement definition, UI, API

3.Development of individual libraries

<u>Budget:</u>

99,000USD

・30Effort(MM)×3,300USD=99,000USD

ProofSpace

<u>Work and Role</u>

1.Cooperation in the development of a Japanese localized system based on the ProofSpace system

<u>Budget:</u>

100,000USD

・approx 28k words at $0.15 each

・variable design and dev fees of up to $5k (e.g. $150/hr * 30 hrs)

Milstone

<u>M1: ~1st Month</u>

Define system requirements

Outcome:Requirements statement

21,000USD( <u>75,000ADA</u> )

<u>M2: 2nd~3rd Month</u>

Front-end construction, API construction with ProofSpace, API construction with AtalaPRIMS

Outcome:Reports on Developments by Function

83,000USD( <u>298,000ADA </u>)

<u>M3: 3rd~4th Month</u>

Operation testing

Outcome:Test Results

58,000USD( <u>207,000ADA</u> )

<u>M4: 4rd~5th Month</u>

Bug fixes

Outcome: Report of revisions

58,000USD( <u>207,000ADA</u> )

<u>M5: 5th~6th Month</u>

Acceptance inspection

Outcome:Demo Movie

53,000USD( <u>191</u>,<u>000ADA</u> )

・Link for Supplemental Correction

・日本語Link

Who is in the project team and what are their roles?

Kuniaki Abe

Founder, CEO from Infinect. inc

Project management, communication between ProofSpace and ekoios, business meetings with major companies, business development, Catalyst reports

<u>Back Ground</u>

2006:Genetic research on oil palm at Institute for Molecular Biology, University of Tokyo (FY2003 Industrial Technology Research Grant Program)

2007:General medical equipment vendor (senior position at headquarters: forecasting, business planning, marketing, product management)

2022:Independent to focus on distributed ID solutions business

2022:Selected by the Japanese government for a DID/VC project as a joint venture with a leading Japanese company

2023:Founded Infinect. Inc

2023:Negotiations are underway with a few giant Japanese company to launch a project using distributed IDs.

<u>Past Adopted Projects</u>

・In Catalyst

Fund6:DID Solutions for Local Governments

Fund7:Atala Japanese Translation ＆ CNFT

Fund8:AtalaPRISM hackathon with devillage

・In Japanese Nation Project

TrustedWeb: National projects in the area of advanced technology (DID/VC) in Japan.

Prototype system

Nominated to candidate speaker at Cardano summit2022.

<u>etc.</u>

・AtalaPRISM Pioneer(1st)

・SPO

・Linkedin

・Facebook

・Twitter

Yoshinao Miyokawa(Technical Advisor)

Engineering Team Management

Back Ground

experience in the Japan-APAC region spanning various sectors from construction, environmental protection, blockchain, and logistics.

Born in a locksmith shop, he started using PCs at the age of 8 and became the youngest self-taught computer engineer at the time to obtain certification.

He has been involved in creating a fusion of existing systems and IT applications since the pioneering days of IT introduction into society.

He has been involved in the creation of new business that integrates existing systems and IT applications since the early days of IT adoption in society. He has also strengthened his knowledge of network security and has been active as a

He is an engineer with knowledge of the industry as a whole, covering all aspects of human security.

As CTO of the publishing company Apollo Communication, he is responsible for media launch, event organization, magazine editing system, printing and bookbinding factory.

Since then, he has been involved in several blockchain projects as well as working as an expert in building entire systems.

He is currently an advisor to the system working group of the Daini Tokyo Bar Association.

Since then, he has been involved in several blockchain projects as well as working as an expert in building entire systems.

He is currently an advisor to the system working group of the Daini Tokyo Bar Association.

・Linkedin

Kotaro Motoshima

Attorney at Law

Mori Hamada & Matsumoto, one of the largest law firms in Japan

Governance making when implementing distributed identity solutions, and designing business flow and UI/UX designs that are legally compliant based on an understanding of personal information laws and regulations.

<u>Background</u>

2017: Graduated from the University of Tokyo Faculty of Law and entered the University of Tokyo Law School in the same year.

2019: Withdrew from the same law school and founded zingzing, a general incorporated association.

2020: Registered as a lawyer and joined Mori Hamada & Matsumoto. Also begins working as a social coordinator.

2022: Seconded to Daiichi Sankyo Co.

2023: RuleMakersDAO core member

<u>Specialties</u>

He has experience in startups, technology (FinTech, web3, metaverse, data/personal information/AI, medical/pharmaceutical/biotech, R&D in general, etc.), and China, from both the startup/researcher side and the VC/larger company side, and has been a business consultant and a member of the board of RuleMakersDAO. He provides legal support from both the startup/research side and the VC/larger company side, drawing on his own entrepreneurial experience and experience in managing entrepreneurial communities, and incorporating a business consulting perspective. In addition, he is also involved in children's rights (including on line counseling by lawyers), refugees, and legal education.

<u>Other Activities</u>

He has been involved in the RuleMakersDAO, which provides policy proposals on social issues from a legal perspective, through the Diet Members' Caucus. Nomad visa'' was included in the basic policy of the government in 2023.

<u>Writings, Articles, etc.</u>

"Legal Q&A on Health Tech (2nd Edition" (Shojihomu, 2022)

"The Revised Personal Information Protection Law: An Ultra-Introduction" (Shojihomu, 2022)

"The Six Laws of the Chinese Economy, 2022 Supplemented Edition" (Japan Council for the Promotion of International Trade, 2022) (in Japanese).

"Overview of the Revised Industrial Competitiveness Enhancement Act and Its Impact on Practice: Focusing on Venture Support, Business Restructuring Facilitation, and Making the Regulatory Sandbox Permanent" (Business Homu, 2021)

"The Latest Legal Situation in China (240): Revision of the Personal Information Security Code" (Kokusai Shoji Homu, 2020) (in Japanese).

<u>etc.</u>

・Linkedin

・Facebook

How does the cost of the project represent value for money for the Cardano ecosystem?

It has the potential to dramatically increase the recognition and presence of Cardano and AtalaPRISM in the Japanese enterprise. In addition, the creation of a new business model is expected to bring its benefits on a global scale through exports to other countries.

Beyond that, we expect to see increased transaction volume, increased liquidity, and the development of smart contracts and add-ons for payment and financial services.

Cost Calculation Background

<u>Infinect</u>

Setting the price for an expert workforce to deal with a huge company.

<u>ekoios, ProofSpace</u>

Comply with the quotation of the request