So last year, a friend of ours came to us and said, ''Guys, I have just invested 10,000 rand into a family friend who said he's going to take this money and invest it into a cow and it will bring back the returns to me." So because he was a family friend, our friend trusted him. So for about two months, the guy didn't come back, he didn't hear anything from him, no e-mails or calls and this was a very stressful period for him. Throughout the whole process, this is how Proof Of Steak came about. On a good note, the guy did come back. So from 10,000 rand, he received 14,000 rand back. We believe that investing in livestock should be much simpler. On one hand, the African investor wants to invest in assets they understand and they have some cultural significance. On the other hand, farmers have limited access to working capital and often their access to capital is limited to the type of intellectual labor. To address these problems, peer-to-peer business models have been developed, but they often lack transparency and thus the growth has been restricted. Our solution is a blockchain-based platform that overcomes information asymmetry in the livestock investment industry by using IoT technology. Our solution can be broken up into three main components. One, cattle are digitized and then placed on online marketplace. This allows for greater transparency. Two, the fact that we're using blockchain and specifically the use of smart contracts allows for an efficient, and transparent fractional investment process. Three, we utilize IoT technologies to provide investors with insights regarding their assets. Just quickly take you through a User Experience. As you can see, the middle screen shows a marketplace and that's where a farmer can register the cow online and investors can invest. Data such as the maturity as well as expected return is also displayed. Lastly, an investor can have a full view of the portfolio through our portal. For every farmer, investor, and cow, a smart contract will be used. Initially, the farmer registers the cow online and he's issued with a token. When an investor purchases this cow, the token transfers from the farmer to investor. The farmer then receives this capital and can expand or maintain the business. Over time, this cow that is invested in produces calves, these calves are then sold to abbatoir and investor receives returns from us. We are serving an increasing market. So just to give you an idea of the context, currently there 18.84 million cattle and cows in South Africa and 11.3 million of those cattle are owned by enterprise farmers and then in 7.5 million of those cattle are owned by emerging and communal farmers. This is farmer a industry that we're aiming to take on. On the other side, we have the rise of the African middle class. So this class has increased by 280 percent for the past five years. So from 2014-2015 and this is on target market. So to give you an idea of our business model, there's two ways in which we'd like to make money. One, is the transaction fees. So this is taking a percentage of the profits from the sale of the calf but also on the initial investment of the investor. The second part is through value added services. So because we're allowing for the farmer and the investor to gain insights on the calf, we also want to provide additional services for farmers who have multiple cows and also for investors who are investing in multiple things, so value-added services. In terms of competition, our competitors are providing you the opportunity to invest in a full or half cow. For us, what we're doing is that we allow each to invest in a pregnant cow but also provide the opportunity to actually partake in fractional investments, which lowers the barrier of entry for the investors. So you no longer need 10,000 rand like Una but you can actually invest 500 rand or 200 rand with a group of friends. Another thing that we provide is, it's an asset that you understand but also just simplifying the process between the farmer and the investor as well as transparency. So far what we have is we started talking to farming partners who've registered their cow to our platform and we've also have access to a blockchain development team as well as front-end developers. In the beginning of this year, we want a blockchain had gotten , we got access to 50,000 rand funding. Then right now we're in the process of taking part in the incubation phase with French South African Tech Labs and by the end of the six months, we aim to have a minimal viable product as well as just a proof of concept for our idea. Going over the six months, we're also looking into collaborating with robotics for proof of crop idea that we would to roll out as well. So that will also provides just to look at other asset classes and not only cattle but also invested into things like trees where you can actually invest in the harvest of citrus or any other product. Right now what we need is more farming partners so just to expand on database as well as legal advice. So for the tokenization of the cattle but also the fact that we're taking in money and converting that into tokens and distributing it as well as RFID hardware. So that is with regards to our IoT devices that we'll have and would just like to look into more of building that aspect to provide more insights to the cows. In our team, we've made up of team of four. So my name is Kungela and I'm the CEO and we have Kyle Roos. We also have Co-Pierre Georg as well as Una Singo. So besides just all the things that you're seeing right here, I also think that we have a great mixture of people in the team who also believe in the product and we're quite excited to learn the technologies but also just a committed group of people. We would really like to see this product through. Thank you.
