1. Risk disclaimer
- We are very thankful for your interest in the Blank project (hereinafter referred to as
"Project"), Blank token sale, and Blank tokens (hereinafter referred to as "Tokens").
However, it is a well-known fact that crypto projects are related to various risks, which
must be taken into account before participating in Token sale.
- Acquisition of the Tokens involves a high degree of risk. The purchaser should carefully
consider the following information about these risks before he decides to buy the Tokens. If
any of the following risks occur, Goblank OU (hereinafter referred to as “Company”)
business, the Project, the value of the Tokens could be materially adversely affected.
- The company has described the risks and uncertainties that its management believes are
material, but these risks and uncertainties may not be the only one's Company face.
Additional risks and uncertainties, including those Company, currently is not aware of or
deem immaterial, may also materially adversely affect on Company’s business, the Project,
the value of the Tokens. This Risk disclaimer applies to all website https://www.goblank.io/
visitors and Token purchasers.
2. Risk connected to the value of tokens
- No Rights, Functionality, or Features Other than Strictly Provided Herein. The Tokens do not
have any rights, uses, purpose, attributes, functionalities, or features, express or
implied, including, without limitation, any uses, purpose, attributes, functionalities, or
features on the Project, other than strictly provided in the White Paper.
- Lack of Development of Market for Tokens. Because there has been no prior public trading
market for the Tokens, the sale of the Tokens may not result in an active or liquid market
for the Tokens, and their price may be highly volatile. Although applications have been made
to the cryptographic token exchanges for the Tokens to be admitted to trading, an active
public market may not develop or be sustained after the Token sale. If a liquid trading
market for the Tokens does not develop, the price of the Tokens may become more volatile and
the Token holder may be unable to sell or otherwise transact in the Tokens at any time.
Risks Relating to Highly Speculative Traded Price. The valuation of digital tokens in a
secondary market is usually not transparent, and highly speculative. The Tokens do not hold
any ownership rights to Company’s assets and, therefore, are not backed by any tangible
asset. Traded price of the Tokens can fluctuate greatly within a short period of time. There
is a high risk that a token holder could lose his/her entire contribution amount. In the
worst-case scenario, the Tokens could be rendered worthless.
Tokens May Have No Value. The Tokens may have no value and there is no guarantee or
representation of liquidity for the Tokens. The Company is not and shall not be responsible
for or liable for the market value of the Tokens, the transferability and/or liquidity of
the Tokens, and/or the availability of any market for the Tokens through third parties or
Tokens are Non-Refundable. Except for the cases strictly provided by the applicable
legislation or in the legally binding documentation on the Tokens sale, Company is not
obliged to provide the Token holders with a refund related to the Tokens for any reason, and
the Token holders will not receive money or other compensation in lieu of the refund. No
promises of future performance or price are or will be made in respect to the Tokens,
including no promise of inherent value, no promise of continuing payments, and no guarantee
that the Tokens will hold any particular value. Therefore, the recovery of spent resources
may be impossible or may be subject to foreign laws or regulations, which may not be the
same as the private law of the Token holder.
Risks of Negative Publicity. Negative publicity involving the Company, the Project, the
Tokens may materially and adversely affect the market perception or market price of the
Tokens, whether or not it is justified.
Use of Tokens in Restricted Activities by Third Parties. Programs or websites banned or
restricted in certain jurisdictions, such as gambling, betting, lottery, sweepstake,
pornography, and otherwise, could accept different cryptocurrencies or tokens in their
operation. The regulatory authorities of certain jurisdictions could accordingly take
administrative or judicial actions against such programs or websites or even the developers
or users thereof. The Company neither intends nor can act as a censor to scrutinize to any
extent any program or website that uses Tokens with such goals. Therefore, any punishment,
penalty, sanction, crackdown, or other regulatory effort made by any governmental authority
may more or less frighten or deter existing or potential users away from using and holding
the Tokens, and consequently bring material adverse impact on the prospect of the Tokens.
Risks Arising from Taxation. The tax characterization of the Tokens is uncertain. The
purchaser shall seek his own tax advice in connection with the acquisition, storage,
transfer, and use of the Tokens, which may result in adverse tax consequences to the
purchaser, including, without limitation, withholding taxes, transfer taxes, value-added
taxes, income taxes and similar taxes, levies, duties or other charges and tax reporting
3. Blockchain and software risks
Blockchain Delay Risk. On most blockchains used for cryptocurrencies' transactions (e.g.
Ethereum, Bitcoin blockchains), the timing of block production is determined by proof of
work so block production can occur at random times. For example, the cryptocurrency sent as
a payment for the Tokens in the final seconds of the Token sale may not get included in that
period. The respective blockchain may not include the purchaser’s transaction at the time
the purchaser expects and the payment for the Tokens may reach the intended wallet address,
not on the same day the purchaser sends the cryptocurrency.
Blockchain Congestion Risk. Most blockchains used for cryptocurrencies' transactions (e.g.,
Ethereum, Bitcoin blockchains) are prone to periodic congestion during which transactions
can be delayed or lost. Individuals may also intentionally spam the network in an attempt to
gain an advantage in purchasing cryptographic tokens. That may result in a situation where
block producers may not include the purchaser’s transaction when the purchaser wants or the
purchaser’s transaction may not be included at all.
Risk of Software Weaknesses. The token smart contract concept, the underlying software
application, and software of the Project (i.e. the Ethereum, Bitcoin blockchains) are still
in an early development stage and unproven. There are no representations and warranties that
the process for creating the Tokens will be uninterrupted or error-free. There is an
inherent risk that the software could contain weaknesses, vulnerabilities, or bugs causing,
inter alia, the complete loss of the cryptocurrency and/or the Tokens.
Risk of New Technology. The Project, the Tokens, and all of the matters set forth in the
White Paper are new and untested. The Project and the Tokens might not be capable of
completion, creation, implementation, or adoption. No blockchain utilizing the Project may
be ever launched. The purchaser of the Tokens should not rely on the Project, the token
smart contract, or the ability to receive the Tokens associated with the Project in the
future. Even if the Project is completed, implemented, and adopted, it might not function as
intended, and any Tokens may not have functionality that is desirable or valuable. Also,
technology is changing rapidly, so the Project and the Tokens may become outdated.
4. Security risks
Risk of Loss of Private Keys. The Tokens may be held by the Token holder in his digital
wallet or vault, which requires a private key, or a combination of private keys, for access.
Accordingly, loss of requisite private keys associated with such token holder’s digital
wallet or vault storing the Tokens will result in loss of such Tokens, access to token
holder’s Token balance and/or any initial balances in blockchains created by third parties.
Moreover, any third party that gains access to such private keys, including by gaining
access to login credentials of a hosted wallet or vault service the token holder uses, may
be able to misappropriate the token holder’s Tokens.
Lack of Token Security. The Tokens may be subject to expropriation and or/theft. Hackers or
other malicious groups or organizations may attempt to interfere with the token smart
contract which creates the Tokens or the Tokens in a variety of ways, including, but not
limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil
attacks, smurfing and spoofing. Furthermore, because the Ethereum Project rests on
open-source software, there is the risk that Ethereum smart contracts may contain
intentional or unintentional bugs or weaknesses that may negatively affect the Tokens or
result in the loss of Tokens, the loss of ability to access or control the Tokens. In the
event of such a software bug or weakness, there may be no remedy, and holders of the Tokens
are not guaranteed any remedy, refund, or compensation.
Attacks on Token Smart Contract. The blockchain used for the token smart contract which
creates the Tokens is susceptible to mining attacks, including double-spend attacks,
majority mining power attacks, "selfish-mining" attacks, and race condition attacks. Any
successful attacks present a risk to the token smart contract, expected proper execution and
sequencing of the Token transactions, and expected proper execution and sequencing of
Failure to Map a Public Key to Purchaser’s Account. Failure of a purchaser of the Tokens to
map a public key to such purchaser's account may result in third parties being unable to
recognize the purchaser's Token balance on the Ethereum blockchain when and if they
configure the initial balances of a new blockchain-based upon the Project.
Risk of Incompatible Wallet Service. The wallet or wallet service provider used for the
acquisition and storage of the Tokens has to be technically compatible with the Tokens. The
failure to assure this may have the result that the purchaser of the Tokens will not gain
access to his Tokens.
Risks of Theft of the Funds Raised in the Token Sale. The Company will make every effort to
ensure that the funds received from the Token Sale will be securely held through the
implementation of security measures. Notwithstanding such security measures, there is no
assurance that there will be no theft of the cryptocurrencies as a result of hacks,
sophisticated cyber-attacks, distributed denials of service or errors, vulnerabilities or
defects on the Website, in the smart contract(s), on the Ethereum or any other blockchain,
or otherwise. Such events may include, for example, flaws in programming or source code
leading to exploitation or abuse thereof. In such an event, even if the Token Sale is
completed, the Company may not be able to receive the cryptocurrencies raised and to use
such funds for the development of the Project and/or for launching any future business line.
In such a case, the launch of the Project might be temporarily or permanently curtailed. As
such, distributed Tokens may hold little worth or value, and this would impact its trading
5. Risks relating to company
Risks relating to Ineffective Management. The Company may be materially and adversely
affected if they fail to effectively manage their operations as their business develops and
evolves, which would have a direct impact on the Company's ability to maintain the Project
and/or launch any future business lines.
Risks Related to Highly Competitive Environment. The financial technology and cryptocurrency
industries and the markets in which the Company competes are highly competitive and have
grown rapidly over the past years and continue to evolve in response to new technological
advances, changing business models, and other factors. As a result of this constantly
changing environment, the Company may face operational difficulties in adjusting to the
changes, and the sustainability of the Company will depend on its ability to manage its
operations and ensure that it hires qualified and competent employees, and provides proper
training for its personnel. As its business evolves, the Company must also expand and adapt
its operational infrastructure. The Company cannot give any assurance that the Company will
be able to compete successfully.
Risks Relating to General Global Market and Economic Conditions. Challenging economic
conditions worldwide have from time to time may continue to contribute to slowdowns in the
information technology industry at large. Weakness in the economy could have a negative
effect on the Company's business, operations, and financial condition, including decreases
in revenue and operating cash flows, and inability to attract future equity and/or debt
financing on commercially reasonable terms. Additionally, in a down-cycle economic
environment, the Company may experience the negative effects of a slowdown in trading and
usage of the Project.
Risks of Non-Protection of Intellectual Property Rights. The Company relies on patents and
trademarks and unpatented proprietary know-how and trade secrets and employs commercially
reasonable methods, including confidentiality agreements with employees and consultants, to
protect know-how and trade secrets. However, these methods may not afford complete
protection and the Company cannot give any assurance that third parties will not
independently develop the know-how and trade secrets or develop better production methods
than the Company.
Risks of Infringement Claims. The competitors of the Company, other entities, and
individuals, may own or claim to own intellectual property relating to products and
solutions of the Company. Third parties may claim that products and solutions and underlying
technology of the Company infringe or violate their intellectual property rights. The
Company may be unaware of the intellectual property rights that others may claim cover some
or all of the products or technology of the Company.
6. Risks relating to project development
Risk Related to Reliance on Third Parties. Even if completed, the Project will rely, in
whole or partly, on third parties to adopt and implement it and to continue to develop,
supply, and otherwise support it. There is no assurance or guarantee that those third
parties will complete their work, properly carry out their obligations, or otherwise meet
anyone's needs, all of which might have a material adverse effect on the Project.
Dependence of Project on Senior Management Team. The ability of the senior management team,
which is responsible for maintaining the competitive position of the Project, is dependent
to a large degree on the services of each member of that team. The loss or diminution in the
services of members of the respective senior management team or an inability to attract,
retain and maintain additional senior management personnel could have a material adverse
effect on the Project. Competition for personnel with relevant expertise is intense due to
the small number of qualified individuals, and this situation seriously affects the ability
to retain its existing senior management and attract additional qualified senior management
personnel, which could have a significant adverse impact on the Project.
Dependence of Project on Various Factors. The development of the 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, or departure of key personnel.
Lack of Interest in the Project. Even if the Project is finished and adopted and launched,
the ongoing success of the Project relies on the interest and participation of third parties
like developers. There can be no assurance or guarantee that there will be sufficient
interest or participation in the Project.
Changes to the Project. The Project is still under development and may undergo significant
changes over time. Although the project management team intends for the Project to have the
features and specifications set forth in the White Paper, changes to such features and
specifications can be made for any number of reasons, any of which may mean that the Project
does not meet expectations of the holder of the Tokens.
Ability to Introduce New Technologies. The blockchain technologies industry is characterized
by rapid technological change and the frequent introduction of new products, product
enhancements, and new distribution methods, each of which can decrease demand for current
solutions or render them obsolete.
Risk Associated with Other Applications. The Project may give rise to other, alternative
projects, promoted by unaffiliated third parties, under which the Token will have no
Risk of an Unfavorable Fluctuation of Cryptocurrency Value. The proceeds of the sale of the
Tokens will be denominated in cryptocurrency and may be converted into other cryptographic
and fiat currencies. If the value of cryptocurrencies fluctuates unfavorably during or after
the Token sale, the project management team may not be able to fund development, or may not
be able to develop or maintain the Project in the manner that it intended.
Risk of Dissolution of Company or Project. It is possible that, due to any number of
reasons, including, but not limited to, an unfavorable fluctuation in the value of Ethereum,
Bitcoin, or other cryptographic and fiat currencies, decrease in the Tokens utility due to
negative adoption of the Project, the failure of commercial relationships, or intellectual
property ownership challenges, the Project may no longer be viable to operate and the
Company may dissolve.
Further token sales and development and sale of additional Tokens. The Company may, from
time to time, and without prior notice or consultation, sell additional Tokens outside of
the token sale. Further, the Company may develop or otherwise raise funding for Project
through any other means it deems necessary. You will not necessarily receive notice of the
sale of additional Tokens or any other Tokens or fundraising means.
7. Risks arising in course of company business
Risk of Conflicts of Interest. The Company may be engaged in transactions with related
parties, including respective majority shareholder, companies controlled by him or in which
he owns an interest, and other affiliates, and may continue to do so in the future.
Conflicts of interest may arise between any Company affiliates and Company, potentially
resulting in the conclusion of transactions on terms not determined by market forces.
Risks Related to Invalidation of Company Transactions. The Company has taken a variety of
actions relating to its business that, if successfully challenged for not complying with
applicable legal requirements, could be invalidated or could result in the imposition of
liabilities on the Company. Since applicable legislation may subject to many different
interpretations, Company may not be able to successfully defend any challenge brought
against such transactions, and the invalidation of any such transactions or imposition of
any such liability may, individually or in the aggregate, have a material adverse effect on
Risk Arising from Emerging Markets. The Company may operate in emerging markets. Emerging
markets are subject to greater risks than more developed markets, including significant
legal, economic and political risks. Emerging economies are subject to rapid change and that
the information set out in the White Paper may become outdated relatively quickly.
8. Governmental risks
Uncertain Regulatory Framework. The regulatory status of cryptographic tokens, digital
assets, and blockchain technology is unclear or unsettled in many jurisdictions. It is
difficult to predict how or whether governmental authorities will regulate such
technologies. It is likewise difficult to predict how or whether any governmental authority
may make changes to existing laws, regulations, and/or rules that will affect cryptographic
tokens, digital assets, blockchain technology, and its applications. Such changes could
negatively impact the tokens in various ways, including, for example, through a
determination that the tokens are regulated financial instruments that require registration.
The Company may cease the distribution of the Tokens, the development of the Project or
cease operations in a jurisdiction in the event that governmental actions make it unlawful
or commercially undesirable to continue to do so.
Failure to Obtain, Maintain or Renew Licenses and Permits. Although as of the date of
starting of the Token sale there are no statutory requirements obliging the Company to
receive any licenses and permits necessary for carrying out its activity, there is the risk
that such statutory requirements may be adopted in the future and may relate to Company. In
this case, Company’s business will depend on the continuing validity of such licenses and
permits and its compliance with their terms. Regulatory authorities will exercise
considerable discretion in the timing of license issuance and renewal and the monitoring of
licensees’ compliance with license terms. Requirements which may be imposed by these
authorities and which may require Company to comply with numerous standards, recruit
qualified personnel, maintain necessary technical equipment and quality control systems,
monitor our operations, maintain appropriate filings and, upon request, submit appropriate
information to the licensing authorities, may be costly and time-consuming and may result in
delays in the commencement or continuation of operation of the Project. Further, private
individuals and the public at large possess rights to comment on and otherwise engage in the
licensing process, including through intervention in courts and political pressure.
Accordingly, the licenses Company may need may not be issued or renewed, or if issued or
renewed, may not be issued or renewed in a timely fashion, or may involve requirements that
restrict Company's ability to conduct its operations or to do so profitably.
Risk of Government Action. The industry in which Company operates is new and may be subject
to heightened oversight and scrutiny, including investigations or enforcement actions. There
can be no assurance that governmental authorities will not examine the operations of
Company’s and/or pursue enforcement actions against them. All of this may subject Company to
judgments, settlements, fines, or penalties, or cause Company to restructure its operations
and activities or to cease offering certain products or services, all of which could harm
the Company's reputation or lead to higher operational costs, which may, in turn, have a
material adverse effect on the Tokens and/or the development of the Project.
Risk of Burdensomeness of Applicable Laws, Regulations, and Standards. Failure to comply
with existing laws and regulations or the findings of government inspections, or increased
governmental regulation of the Company’s operations, could result in substantial additional
compliance costs or various sanctions, which could materially adversely affect Company’s
business and the Project. The company’s operations and properties are subject to regulation
by various government entities and agencies, in connection with ongoing compliance with
existing laws, regulations, and standards. Regulatory authorities exercise considerable
discretion in matters of enforcement and interpretation of applicable laws, regulations, and
standards. Respective authorities have the right to, and frequently do, conduct periodic
inspections of the Company's operations and properties throughout the year. Any such future
inspections may conclude that Company has violated laws, decrees, or regulations, and it may
be unable to refute such conclusions or remedy the violations. Any Company’s failure to
comply with existing laws and regulations or the findings of government inspections may
result in the imposition of fines or penalties or more severe sanctions or in requirements
that Company ceases certain of its business activities, or in criminal and administrative
penalties applicable to respective officers. Any such decisions, requirements or sanctions,
or any increase in governmental regulation of respective operations, could increase
Company's costs and materially adversely affect Company’s business and the Project.
9. Unanticipated risks
Blockchain technologies and cryptographic tokens such as the Tokens are relatively new and
dynamic technology. In addition to the risks included above, there are other risks
associated with your purchase, holding, and use of the Tokens, including those that the
Company cannot anticipate. Such risks may further appear as unanticipated variations or
combinations of the risks discussed above.
Break free from government & big tech overwatch. Go Blank.