Provenance was built by the team at Figure.

Figure is a venture-backed private blockchain holding company. Figure’s businesses include lending, asset management and banking and payments, all powered by the Provenance blockchain.

Provenance is a distributed stakeholder blockchain whose original underpinnings were IBM’s Hyperledger Fabric. Figure significantly modified the stakeholder function, eliminating the need for data to go to the stakeholders, replacing it with checksums to validate transactions. This addressed both the speed and security issues in Hyperledger Fabric. Today, Provenance is the leading financial services blockchain.

While Figure built Provenance, it is decentralized and any agent can use an API to write smart contracts on the blockchain. Figure has built an ecosystem on Provenance that includes omnibus banks, marketplaces, investor passporting, etc. and allows for open access to this ecosystem.

Figure maintains an active economic interest in Provenance, given it’s Hash ownership. Figure regularly onboards new members onto Provenance while using its own business to de-risk new use cases and demonstrate the economic benefit of blockchain.

Board of Directors

Board MemberDavid ChaoCo-Founder & General Partner at DCM

Board MemberMeyer MalkaFounder of Ribbit Capital

Board MemberAdam BoydenManaging Director at RPM Ventures

Board MemberAnthony PomplianoCo-Founder & Partner at Morgan Creek Digital

AdvisorArthur Levitt25th Chairman of the U.S. SEC

AdvisorSheila BairFormer Chair of FDIC

AdvisorSteve AndersonFounder of Baseline Ventures

AdvisorBlythe MastersFinancial Services & Technology Executive

AdvisorJack LeeFounder and Managing Partner, HCM Capital

AdvisorAndrew L. SandlerEntrepreneur, Investor & Strategic Advisor

Figure Team

Mike CagneyExecutive DirectorProvenance Blockchain Inc.

June OuChief Operating OfficerFigure Technologies Inc.

Asiff HirjiPresident, Figure Technologies Inc.

CD DaviesHead of Lending and Operations,Figure Technologies Inc.

Tony MorosiniHead of Banking and Payments,Figure Technologies Inc.

Jennifer MitrengaHead of ProvenanceBlockchain Inc. (Americas)

Joanna YeoHead of ProvenanceBlockchain Inc. (Asia)

Ben BortonDigital Fund Services,Provenance Blockchain Inc.

Robert HershyCapital Markets,Provenance Blockchain Inc.

Hash is the digital equity of Provenance.

Hash exists purely to provide a mechanism of distribution for the economics paid into the blockchain and governance of Provenance.

Every day, Provenance participants pay fiat currency to Provenance to access the blockchain for financial transactions. Daily, these fees are auctioned off to Hash holders. The best clearing offer sells Hash for the fiat amount, and Hash is distributed pro-rata to the remaining Hash holders.

While Provenance is a proof-of-stake blockchain, its consensus model is majority by stakeholder. While each stakeholder holds Hash, the amount of Hash they hold does not impact the weight of their vote. Stakeholders receive an economic benefit above their pro-rata distribution as a hash holder for being a node.

$.00000

Approximate market price of Hash at $1.9B valuation (as of 6/29/2020.) This price is reflected as of the auction price for this day.

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