PLEASE READ THIS ENTIRE SECTION AND DO NOT TAKE ANY ACTIONS UNTIL YOU FINISH IT. The purpose of the whitepaper is to present a summary of PowerBrain.Shop®’s business model, value proposition and an introduction to the PowerBrain.Shop® Crowdsale / ICO for potential utility token purchasers in connection with the proposed utility token sale. The information set forth below may be changed for any reason, may not be exhaustive and does not imply any elements of a contractual relationship. The sale and purchase of AIPBS utility tokens is governed by the Terms of Sale available on the company website of PowerBrain.Shop®.
If you are in any doubt as to the action you should take, you should consult your legal, financial, tax or other professional advisor(s) and immediately navigate away from the PowerBrain.Shop® website and do not contribute to the development of PowerBrain.Shop®’s company project.
This Whitepaper does not purport to be all-inclusive or contain all information that you may desire in examining the company project. This Whitepaper’s sole purpose is to provide relevant and reasonable information to you in order for you to determine whether to undertake a thorough analysis of the company project and the company with the intent of acquiring AIPBS utility tokens.
PURCHASE OF AIPBS UTILITY TOKENS INVOLVES A HIGH DEGREE OF RISK, AND YOU SHOULD NOT SPEND ANY FUNDS IN THIS CROWDSALE UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE AMOUNT SPENT. Please refer to the Terms of Sale for a more comprehensive list of possible risks concerning the AIPBS token purchase.
All information and content provided in this whitepaper is to be used on an “as is” basis. In making a decision to purchase AIPBS tokens, you must rely on your own examination of the project and the terms thereof, including the merits and all different risks involved. Prior to making a decision regarding the purchase of AIPBS tokens, you should consult your legal, financial, tax or other professional advisor(s), as to all matters concerning this purchase, and carefully review and consider this entire whitepaper. You and other prospective token purchasers are encouraged to ask questions about PowerBrain.Shop®, its business and the Terms of Sale of the Crowdsale, and to request such data as may be necessary to enable you to make an informed purchase decision.
By participating in the PowerBrain.Shop (“AIPBS”) Utility Token Pre sale and /or Initial Token Offering (ICO) Crowdsale (the Presale and the AIPBS together referred to as the “Crowdsale”), as defined in the PowerBrain.Shop® whitepaper (the “Whitepaper”), or making use of any information in the Whitepaper or in PowerBrain.Shop®’s business plan or available on PowerBrain.Shop®’s website, you agree to the statements provided in this disclaimer (the “Disclaimer”). You further understand and accept that the information provided in the Whitepaper and on the website are of descriptive nature only and does not provide any legal rights to the user unless explicitly stated.
GENERAL WARNING – By using the services provided by PowerBrain.Shop®, you as either a Crowdsale participant or User of PowerBrain.Shop® ’s products or services (the “User”), fully understand and agree with the following:
PowerBrain.Shop® as is a Republic of Seychelles incorporated entity is subject to laws and regulations. The ICO is being performed from the Republic of the Seychelles under Seychelles rules and PowerBrain.Shop® does not intend or issue any tokens in any other jurisdiction. The User understands and accepts to be subject to the laws and regulations in the jurisdiction in which the User is domiciled and that PowerBrain.Shop® accepts no responsibilities for the legal status of the User as a Crowdsale participant or otherwise being linked to PowerBrain.Shop® (e.g. as token holder after the ICO). The User should obtain local legal advice to clarify the legal status of the User in its own jurisdiction before participating in the Crowdsale.
By transferring Ether (ETH) to the Smart Contract System and the Smart Contract System creating PowerBrain.Shop® utility tokens (“AIPBS tokens”), the User understands and accepts that the User makes a contribution into a Smart Contract System for the development of the PowerBrain.Shop® offering and company project, as described in its Whitepaper. The User understands and acknowledges that AIPBS tokens will be provided by the Presale and/or ICO smart contract in the order that transactions are received by it and no alteration of this can be made by any party. However, the User understands and accepts that smart contract technology is still in an early development stage and its application of experimental nature, which carries very significant operational, technological, financial, regulatory and reputational risks.
The user understands and accepts that the PowerBrain.Shop® Token (AIPBS) is not transferable into other wallets until the ICO ended successfully. Tokenholders which can not be verified by our KYC process may be blocked to use or transfer the Tokens until verification was successful.
The user understands and accepts that PowerBrain.Shop® including its shareholders, directors, managers, employees and any other people affiliated with PowerBrain.Shop® carry no liability for the ability to take part in the Crowdfunding for reasons beyond the control of PowerBrain.Shop® including but not limited to the Presale and/or ICO duration, transaction mining delays and node-related issues.
Pending a successful Crowdfunding, the PowerBrain.Shop® team members will be focused on completing the company start-up and delivering the milestones according to the company Whitepaper. Furthermore, the User understands and accepts that while PowerBrain.Shop® will make reasonable efforts to develop and complete the PowerBrain.Shop® offering as described in the Whitepaper, it is possible that such development may fail and that the User’s AIPBS token may become useless and/or lose its value due to reasons of technical, commercial, organisational or regulatory nature or any other reason, within or outside PowerBrain.Shop®’s control.
The User is also aware of the risk that even if all or parts of PowerBrain.Shop®’s offering are successfully developed and released in full or in parts, that the PowerBrain.Shop® platform could be fully or partially closed, remain commercially unsuccessful or shut down due to lack of public interest or for any other reason. PowerBrain.Shop® has the right to engage subcontractors to perform the entire or partial development and operation of the PowerBrain.Shop® offering. The scope and extent of the development of the PowerBrain.Shop® offering will be determined by the amount of contribution received during the Crowdsale, as outlined in the company’s Whitepaper.
The User understands and accepts that PowerBrain.Shop® undertakes no obligations to act on behalf and in the interests of the User in any Presale and/or ICO being held in the future.
By transferring Ether (ETH) through the PowerBrain.Shop® Crowfunding address under the smart contract system of the Ethereum blockchain protocol (the “Smart Contract System”), the User explicitely agrees to all of the terms and conditions set forth in the Smart Contract System code existing on the Ethereum blockchain and in this Disclaimer.
The User further confirms to have carefully reviewed the Smart Contract System code, its functions and this Disclaimer, and hereby confirm to fully understand the risks and costs of creating the AIPBS token and contributing into a Smart Contract System for the development of the PowerBrain.Shop® platform.
The User understands and accepts that by transferring ETH or other assets to PowerBrain.Shop® as part of the Crowdsale through the Smart Contract System, the User makes such decision upon his/hers own discretionary consideration and has no right of refund of the transferred amount, unless explicitly provided by the Pre-sale and/or ICO smart contract code itself as stipulated in the Whitepaper (that being, a 100% refund when capital raised during the Crowdfunding is under the minimum cap after the Pre -sale and /or ICO period has expired ). The User therefore understands and accepts that the transfer of ETH through the Smart Contract System thereby creating AIPBS token, carry significant financial, regulatory and/or reputational risks (including the complete loss of value of created tokens, if any, and attributed features of the PowerBrain.Shop® platform).
TAX WARNING – The User understands and accepts that PowerBrain.Shop® does not act as a tax agent of User. The User bears the sole responsibility to determine its tax responsibility of the contribution into the Smart Contract System to create and obtain AIPBS token(s), and to determine whether the ownership, usage, the potential value appreciation or depreciation, or any gain or loss by the purchase or sale of the AIPBS token, have tax implications for such User. More specifically, the User fully understands and agrees to the following:
The User and PowerBrain.Shop® carry their own tax obligations solely under the applicable laws of the jurisdiction they reside in.
If Value Added Tax (VAT ) obligations or other indirect taxes will apply as a result of trade of products /services provided by PowerBrain.Shop® or by third parties, we reserve the right to adjust the product / service price by adding a VAT/ indirect tax as applicable for each respective country which are sold from the time the VAT / indirect tax obligations comes into place. We will spend time and resources with qualified personnel to structure the PowerBrain.Shop® platform optimally within legal frames to ensure transactions flow as efficient as possible.
The User understand and accepts that PowerBrain.Shop® may have to disclose information on the User, including but not limited to the value of any AIPBS tokens held, if explicitly requested by any government authorities in accordance with any applicable jurisdiction.
By creating, holding or using the AIPBS token, and to the extent permitted by law, the User agrees not to hold PowerBrain.Shop® or any associated third party, including developers, auditors, contractors or shareholders, liable for any tax liability associated with or arising from the creation, ownership or use of AIPBS token or any other action or transaction related to the PowerBrain.Shop® platform.
NO WARRANTIES – All information provided within the Whitepaper and within PowerBrain.Shop®’s business plan is provided “AS-IS” and with no warranties whatsoever on the AIPBS token, the Smart Contract System and/or the success of the PowerBrain.Shop® platform, including the accuracy, completeness or the use of any information provided therein, to the extent permitted by any applicable law. This includes, but is not limited to, express or implied warranties of title, merchantability or fitness for a particular purpose, are made with respect to the information, or any use of the information, on this site or platform.
DISCLAIMER OF LIABILITY – The User acknowledges and agrees, to the extent permitted by any applicable law, that the User will not hold PowerBrain.Shop® or any associated parties, including but not limited to any group entity, management, developers, contractors or shareholders, liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use the AIPBS token, the Smart Contract System or the PowerBrain.Shop® platform, under any cause or action whatsoever of any kind in any jurisdiction. PowerBrain.Shop® specifically, without limitations, disclaims liability for any loss or damages, including incidental or consequential damages, and assumes no responsibility or liability for any loss or damage suffered by any person as a result of the use, misuse or reliance of any of the information or content in the Whitepaper or in PowerBrain.Shop®’s business plan or on the www.PowerBrain.Shop.io website.Under no circumstances shall PowerBrain.Shop® or any associated parties as stated above be liable to the User for any special, indirect, incidental, consequential, exemplary or punitive damages (including lost or anticipated revenues or profits and failure to realise expected savings arising from any claim relating to the services provided by PowerBrain.Shop®) whether such claim is based on warranty, contract, tort (including negligence or strict liability) or otherwise or likelihood of the same.
The User further specifically acknowledges that PowerBrain.Shop®, or any associated parties as stated above, are not liable, and the User agrees to not hold them liable, for the conduct of any third parties, including other creators of the AIPBS utility token(s), and that the risk of creating, holding and using AIPBS utility token(s) rests entirely with the User.
USE AT YOUR OWN RISK – By utilising the Crowdsale Smart Contract System for PowerBrain.Shop®, the PowerBrain.Shop® offerings or PowerBrain.Shop®’s website, including but not limited to the transferring of any assets to the PowerBrain.Shop® company, the User undertakes and understands all possible risks that directly or indirectly arise from the activity connected with the User ’s participation in the Crowdsale and/or use of PowerBrain.Shop®’s services and product offerings.
FORCE-MAJEURE – The User understands that PowerBrain.Shop® will not be liable to the User for any breach hereunder, including for failure to deliver or delays in delivery of the Services occasioned by causes beyond the control of PowerBrain.Shop® including but not limited to unavailability of materials, strikes, labour slowdowns and stoppages, labour shortages, lockouts, fires, floods, earthquakes, storms, droughts, adverse weather, riots, thefts, accidents, embargoes, war (whether or not declared) or other outbreak of hostilities, civil strife, acts of governments, acts of God, governmental acts or regulations, orders or injunctions, or other reasons, whether similar or dissimilar to the foregoing (each a “Force Majeure Event”).
MISCELLANEOUS / FINAL WARNING – Presale and/or ICO participations can be considered high-risk trading; utilising AIPBS utility tokens via the Crowdsale or utilising services outlined in the Whitepaper, through the Smart Contract System, the PowerBrain.Shop® offerings and on PowerBrain.Shop®’s website, may result in significant losses or even in a total loss of all value submitted and obtained.
This Disclaimer, the PowerBrain.Shop® Whitepaper, the PowerBrain.Shop® website and offerings or any related documents or site do not constitute a prospectus of any sort, is not a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction.
The User guarantees that he/she is a legally capable person of a sufficient age, and that the User complies with all legal rules and applicable laws of the jurisdiction where the User lives when transferring Ether (ETH) to the Smart Contract System to create AIPBS utility tokens. The User further confirms to be legally permitted to hold and use the AIPBS utility tokens in the jurisdiction where the User is domiciled, and accepts to hold PowerBrain.Shop® harmless should the User not be compliant to any such laws and regulations.
AIPBS utility tokens are only functional utility tokens and its ownership carries no other rights other than being intended to be applied on PowerBrain.Shop®’s platform and offerings, if successfully completed and deployed as stipulated in the company project’s Whitepaper. In particular, the User understands and accepts that the AIPBS utility tokens do not represent or constitute any ownership right or stake, share or security or equivalent rights or any right to receive future revenues, IP rights or any other form of participation in or relating to the PowerBrain.Shop® offerings and company project, other than enabling access for token holders and Users to PowerBrain.Shop®’s offerings. PowerBrain.Shop® tokens and PowerBrain.Shop® ’s offerings are not for speculative investment. No promises regarding value or future performance are made regarding PowerBrain.Shop® utility tokens. No promises regarding any particular value of PowerBrain.Shop® tokens are made. No other rights associated with holding PowerBrain.Shop® tokens are given. Proceeds of the PowerBrain.Shop® token Crowdsale may be spent as the company sees appropriate, which may change as deemed necessary in the maturation and advancement of the PowerBrain.Shop® token and PowerBrain.Shop®’s offerings.
PowerBrain.Shop®’s team is investing heavily in the safety and security of the services that PowerBrain.Shop® is going to provide. However, the company cannot protect against all possible sources of error and malicious deeds initiated by any party or supplier. Therefore, all risks assumed by using PowerBrain.Shop® ’s platform offerings in any capacity, transferring, receiving and accumulating AIPBS utility tokens are solely assumed and accepted by the User. AIPBS utility tokens are meant to be held and used by those well experienced and knowledgeable in cryptographic utility tokens, their acquisition, transfer and use only for accessing the services offered on PowerBrain.Shop®. By transferring ETH through the Smart Contract System for the creation of the AIPBS token, the User represents and warrants that it has deep understanding of the functionality, usage, storage and transmission mechanism associated with cryptographic tokens and blockchain-based software systems.
The User further represents and warrants to have knowledge of the utility token creation process and that the User will have its own account on the Ethereum network, with a private key associated to this address and password. The password is used to encrypt the User’s private key. Some time after the creation of the AIPBS utility token by the Smart Contract System and purchasing it by the User, the AIPBS utility token will be transferred to the User’ s address by the Smart Contract System. The User understands that the User must keep his/her password and private key safe and that the User will not be able to generate a new password or recover his/her private key should this private key and/or password be lost or stolen. The User understands that if such private keys and/or password is lost, the AIPBS utility tokens associated with the User’s account will be unrecoverable and will be permanently lost. In such a case, PowerBrain.Shop® or any other no person or entity will NOT be able to help the User retrieve or reconstruct the lost password and/or private keys, and the User will not be able to access any lost AIPBS utility tokens.
The User understands and accepts that the PowerBrain.Shop® utility tokens will be run on a blockchain through a network of miners which will ultimately be in control of the Smart Contract System. The User understands that a majority of these miners could agree at any point to make changes to the official Smart Contract System and to run a new version of the Smart Contract System, which could lead to the AIPBS utility token losing its market value.
By transferring Etherium (ETH) to the Smart Contract System and /or receiving AIPBS utility tokens, no form of partnership, joint venture or any similar relationship between the Users and/or other individuals or entities involved with the deployment of the Smart Contract System and the setting up of the PowerBrain.Shop® company project is created.
The User understands and accepts that no market liquidity may be guaranteed with regard to the AIPBS utility token and that its value may experience extreme volatility over time, including token value depreciation in full.
Should the User be a consumer and should any applicable consumer legislation or cancellation rights apply to such User in relation to the creation and obtainment of the AIPBS utility token, the User waives any such consumer and cancellation rights, unless otherwise prescribed by mandatory law. The User further acknowledges and accepts that any applicable cancellation rights are waived and lost when the User transfer Etherium (ETH) through the Smart Contract System and thereby creates and obtains AIPBS utility token(s), unless otherwise prescribed by mandatory law.
The User understands and accepts that the blockchain technology allows new forms of interaction and that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, blockchain technology based applications, which may be contrary to the current setup of the Smart Contract System and which may, inter alia, result in substantial modifications of the Smart Contract System and/or the PowerBrain.Shop® offerings, including its termination and the loss of AIPBS utility token for the User.
Nothing in this whitepaper, on the PowerBrain.Shop website or in the Terms of Sale will be deemed to constitute a prospectus of any sort or a solicitation for investment, nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction. If you decide to purchase AIPBS utility tokens, please note that your purchase does not involve the exchange of cryptocurrencies for any form of securities, investment units and/or form of ordinary or other shares in PowerBrain.Shop® or any other company.
Furthermore, you as an AIPBS utility token holder do not receive any form of dividend or other revenue right that is guaranteed or participate in profit sharing scheme nor receive any right of ownership in PowerBrain.Shop® or any right to participate in the management of PowerBrain.Shop®. It is for these reasons that we believe that AIPBS utility tokens are not securities and may be purchased by anyone. If you determine that AIPBS tokens may constitute securities subject to regulation in any country, we strongly advise you NOT to acquire them and suggest you immediately notify us of the possible risks. This document is not composed in accordance with, and is not subject to, laws or regulations of any jurisdiction that are designed to protect investors.
No regulatory authority has examined or approved of any of the information set out in this Whitepaper.
No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction.
The publication, distribution or dissemination of this Whitepaper does not imply that the applicable laws, regulatory requirements or rules have been complied with. No financial information contained in this whitepaper has been audited.
PowerBrain.Shop®, its founders, team members and any third parties involved in the PowerBrain.Shop® company project do not warrant or assume any legal liability arising out of or related to the accuracy, reliability, or completeness of any material contained in this Whitepaper or any accompanied material or statements. To the maximum extent permitted by the applicable laws, regulations and rules, PowerBrain.Shop®, its founders, team members Disclaimer and Risk Disclosure and any third party involved in the PowerBrain.Shop® company project will not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this whitepaper or any part thereof, or any accompanied material, statements or information provided on the PowerBrain.Shop® website by you.
The law in certain jurisdictions may restrict or limit the sale and purchase of AIPBS utility tokens. These jurisdictions include but are not limited to Canada, People’s Republic of China, Singapore, South Korea and the United States of America (including Puerto Rico, the U.S. Virgin Islands or any other US territories). The AIPBS tokens are not being offered or distributed to, as well as cannot be resold or otherwise alienated by their holders to, citizens of, natural and legal persons, having their habitual residence, location or their seat of incorporation in the country or territory listed above or where transactions with digital tokens are prohibited or in any manner restricted by applicable laws or regulations. If such restricted person purchases AIPBS utility tokens, such restricted person has done so on an unlawful, unauthorized and fraudulent basis and in this regard, will bear negative consequences.
Aforesaid persons that participate in the fundraiser by providing false information about their citizenship, residency place and nationality, will breach the Terms of Sale of AIPBS utility tokens and would entitle PowerBrain.Shop® to request such persons to compensate any damages and/or losses suffered due to this violation. You agree that you purchase, receive and hold the AIPBS utility tokens at your own risk and that AIPBS utility tokens are provided on an ‘as is’ basis without warranties of any kind, either express or implied.
It is your responsibility to determine if you are legally allowed to purchase AIPBS utility tokens in your jurisdiction and whether you can then resell AIPBS utility tokens to another purchaser in any given jurisdiction.
You bear the sole responsibility for determining or assessing the tax implications of your participation in the crowd sale, purchasing, or receiving and holding AIPBS utility tokens in all respects and in any relevant jurisdiction. You represent and warrant to us that the contributed funds do not derive from any illegal activity and allow us appropriate Anti-Money Laundering (AML) Checks. You understand and accept that we may at any time and without any explanation reject any contribution on the basis of simple suspicion that the funds derive from illegal acts or that AML regulation was not honoured.
This Whitepaper may be updated or altered with the latest version of the Whitepaper prevailing over previous versions. PowerBrain.Shop® is not obligated to give you any notice of the fact or content of any changes. The latest version of the whitepaper in English is available at the company project’s website.
However, there is no obligation to update, supplement or correct this whitepaper or accompanying materials in any respect, or otherwise to provide you with access to any additional information.
The information contained herein may from time to time be translated into languages other than English or used in the course of written or verbal communications with existing and prospective token purchasers, customers, partners, etc. In the event of any conflicts or inconsistencies between such translations and communications and this official English language whitepaper, the provisions of this English language original document will prevail.
This paper is a draft and the information set out herein is of a preliminary nature. Consequently, the Company does not assume any responsibility that the information set out herein is final or correct and disclaims, to the fullest extent permitted by applicable law, any and all liability whether arising in tort, contract or otherwise in respect of this paper. Neither this paper nor anything contained herein shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. Potential investors should note that the final structuring of the PowerBrain.Shop® company project is subject to ongoing legal, regulatory and tax considerations and is, therefore, subject to material changes. The PowerBrain.Shop® company reserves the right to not issue the AIPBS or change the structure of the AIPBS for any reason at its sole discretion at any time.
All statements and content of this Whitepaper, estimates, and financial information contained in this whitepaper, on the PowerBrain.Shop® website, in press releases or in any other place, accessible by the public, and oral statements that may be made by PowerBrain.Shop®, its founders, team members and any third party involved in the PowerBrain.Shop® company project and acting on behalf of PowerBrain.Shop®, that are not statements of historical fact, constitute forward-looking statements or information.
Such forward-looking statements or information involves known and unknown risks and uncertainties which may cause actual events or results to differ materially from the estimates or the results implied or expressed in such forward-looking statements. These statements may be identified by words such as “expect”, “target”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “should”, “could”, “would”, “if”, “may”, “possible”, “project”, “company project”, “believe”, assume”, “expect”, “forecast”, “may”, “might”, “can”, “will“ or words of similar meaning or form. However, these words are not the exclusive means of identifying forward-looking statements.
Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. PowerBrain.Shop® assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
This paper is not a prospectus within the meaning of articles 1156 and 652a of the Swiss Code of Obligations or a prospectus under any other applicable laws. If the AIPBS utility token is being issued, potential investors should carefully assess the final structure of the AIPBS as it would be set out in the final prospectus published by the Company. Such a prospectus would also set out risk factors which should be considered by investors before making an investment decision.
Furthermore, each participant (the “Party”) understands the inherent risks associated with the Blockchain technology and cryptocurrencies in general and the AIPBS utility token in particular, including, but not limited to, those listed hereinafter:
Each Party is aware that PowerBrain.Shop® – All Around AI is a Seychelles based start-up company and an investment in the AIPBS utility token entails financial risks. Investors may lose part or all of their investment. Potential investors are urged to carefully review a final prospectus and in particular the section on risk factors before making an investment decision.
Risks associated with (intellectual) property rights: the Party understands and accepts that, due to the software development focus and to the immaterial character of the AIPBS utility token, there is no title of ownership in and to the AIPBS.
Risks associated with the Blockchain: the Party understands and accepts that the Smart Contract, the underlying software application and software platform (i.e. the Ethereum Blockchain) is s till in an early development stage and unproven. The Party understands and accepts that there is no warranty that the process for creating AIPBS and/or the Ethereum Blockchain will be uninterrupted or error-free and acknowledges that there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of ETH, other (financial) support of the Project and/or AIPBS . The Party understands and accepts that the Smart Contract and/or underlying protocols and/or any other software involved may either delay and/or not execute a contribution due to the overall contribution volume, mining attacks and/or similar events.
Regulatory risks: the Party understands and accepts that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, Blockchain technology based applications, which may be contrary to the current setup of the Smart Contract or the PowerBrain.Shop® company project and which may, inter alia, result in substantial modifications of the Smart Contract and/or the PowerBrain.Shop® company project, including its termination and the loss of AIPBS for the Party.
Risks associated with abandonment / lack of success: the Party understands and accepts that the creation of the AIPBS and the development of the PowerBrain.Shop® company project may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects) and legal, tax or regulatory considerations. The Party therefore understands that there is no assurance that, even if the PowerBrain.Shop® company project is partially or fully developed and launched, the Party will receive any benefits through the AIPBS utility tooken held by him/her/it.
Risks associated with a lack of consensus: the Party understands and accepts that the network of miners will be ultimately in control of the Smart Contract and that there is no warranty or assurance that the network of miners will allocate the SRC to the Parties as proposed by any terms. The Party further understands that a majority of the miners could agree at any point to make changes to the Smart Contract and to run the new version of the Smart Contract. Such a scenario could lead to AIPBS losing market value.
Risks associated with depreciation: the Party understands and accepts that with regard to AIPBS no market liquidity may be guaranteed and that the value of AIPBS utility tokens over time may experience extreme volatility or depreciate in full (including to zero) resulting in loss that will be borne exclusively by the Party.
Risks associated with forking: the Party understands and accepts that a group of people may take our software and modify it to accept a different set of tokens, or no tokens at all (“Fork”). The creation of a Fork could devalue the AIPBS substantially.
Risks associated with a loss of private key: the Party understands and accepts that AIPBS utility token can only be accessed by using an Ethereum wallet with a combination of the Party’s account information (address) and private key or password. The Party understands and accepts that if his/her/its private key or password gets lost or stolen, the AIPBS utility tokens associated with the Party’s account (address) will be unrecoverable and will be permanently lost.
Risks associated with your wallet: the Party understands and accepts that PowerBrain.Shop® or any of their affiliates, employees, partners or advisors is in no way responsible of the wallet on which the AIPBS are transferred. You understand and agree that you are solely responsible for the access and security of your wallet, for any security breach of your wallet and/ with any loss of AIPBS resulting from your wallet service provider, including any termination of the service by the wallet provider and/or bankruptcy of the wallet provider. The Party understands and accepts that the wallet or wallet service provider used for the participation in the AIPBS, has to be technically compatible with the AIPBS. The failure to assure this may have the result that Party will not gain access to his/her/its AIPBS.
Risks associated with theft/hacks: the Party understands and accepts that the Smart Contract, the Website, the underlying software application and software platform (i.e. the Ethereum Blockchain) may be exposed to attacks by hackers or other individuals that could result in theft or loss of AIPBS, other (financial) support of the PowerBrain.Shop® company project, or ETH, impacting the ability to develop the PowerBrain.Shop® company project.
Risks associated with Ethereum mining attacks: the Party understands and accepts that, as with other cryptocurrencies, the Blockchain used for the Smart Contract is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the Smart Contract, expected proper execution and sequencing of transactions, and expected proper execution and sequencing of contract computations.
By participating in the Crowdsale by either the Presale and/or ICO phase, the User confirms that he/she has read, understood and agree to comply with all restrictions set forth above. The User further confirms to not obtain the AIPBS utility token for any illegal purposes and that the Etherium (ETH) transferred through the Smart Contract System has not been obtained by any illegal means, including but not limited through money laundering or corruption of any sort or any other illegal means in the jurisdiction in which the User resides.
The User acknowledges and agrees that if any part of this Disclaimer or the Whitepaper is found illegal or unenforceable, in whole or in part, such provision shall be ineffective solely to the extent of the invalidity or unenforceability under the laws of the applicable jurisdiction without affecting the validity or enforceability thereof in any other manner, and without affecting the remaining provisions of this Disclaimer or the Whitepaper, which shall continue to be in full force and effect.
PLACE OF JURISDICTION
This Disclaimer is governed by the rebulic of Seychelles law and any claims brought forward against PowerBrain.Shop® arising out of or in connection with the creation of AIPBS utility tokens and the development and execution of the PowerBrain.Shop®’s offerings, shall be resolved and finally settled by the ordinary courts of Switzerland. PowerBrain.Shop® and its team will in any case abide within the laws set forth in each of its operational countries, and each operational business unit shall be subject to its local laws and jurisdiction for the explicit operation such unit provides.
PowerBrain.Shop®’s Whitepaper, its Business plan, its website and this Disclaimer, may be subject to changes by PowerBrain.Shop®’s discretion, either before, during or after the Crowdsale.
This Disclaimer is valid as of April 2nd, 2019, as amended from time to time.