K. HAAS, J. HUISMAN, P. KAPOOR, T. SZOCS Duke University, Fuqua School of Business | Innovations and Cryptoventures | February 2017 

Current Cybersecurity Practices Leave Passwords Vulnerable john@passlock.com Passwords hashed with MD5 (2013) and BCRYPT (2014) algorithms. Attack not on Charles Schwab servers. Affected customers had same passwords across multiple accounts. Passwords hashed and salted. Full extent of breach discovered 4 years after 2012 hack Yahoo source: https://www.cnet.com/news/hackers-passwords-your-guide-to-data-breaches-yahoo-ashley-madison/ Charles Schwab source: http://siliconangle.com/blog/2016/05/06/charles-schwab-customers-learn-what-happens-when-you-repeat-a-password/ Dropbox source: http://www.theverge.com/2016/8/31/12727404/dropbox-breach-passwords-hacked-encrypted, https://motherboard.vice.com/en_us/article/hackers-stole-over-60-million-dropbox-accounts Company Benefit User Benefit Increased security End of password dilemma Eliminate bad practice exposure Easy to access & share

PassLock’s Blockchain Technology is Seamless to Consumers Account created with username and phone number Private key is assigned to user based on their phone number Account creation is broadcast to the public Ethereum blockchain using public key Community verifies nobody else owns this account Jane is a Facebook user who wants to access her Facebook account Jane enters her username on Facebook Jane receives a confirmation code to login to Facebook Jane determines how long she would like to remain logged in to Facebook on her phone Jane repeats the process after her login expires on her device INTERFACE

Price Point Leads to Fast Adoption and Profitability by Year 2 100k Companies with <100k users can access at no cost 1¢ Larger companies pay 1¢ per month per active user Low overhead operation (advertising and personnel - sales, developers - as main overhead) Free Free for the end user

Future Includes Complementary Product Introductions USE CASE BENEFIT Full suite of password capabilities including auto-forms and credit card auto-fill Directly addresses current non-blockchain solutions Dongle product extension aimed at super users Improves experience for users interested in avoiding Corporate digital identities Builds on our current B2B customer base