This disclaimer sets out the rights and obligations of each acquirer and user of nodes (hereinafter: »user« or »you«) and governs software licenses, intellectual property rights, responsibilities and risks with respect to the use of the eCredits blockchain shall also apply.


1                 GENERAL

1.1            The People´s SCE with limited liability a European Cooperative Society, Business Register Number: B260175 registered office at 16A Av. de la Liberté, 1930 Luxembourg, R.C.S. Luxembourg (hereinafter: “we” or “SCE”) sells node devices that independantly run the eCredits blockchain system on SCE's online shop on the domain (hereinafter: “WebShop”). SCE also offers software that users can install to their servers and use as a node. In this case, this disclaimer only applies to the software part of the Node.


1.2            Each individual Node consists of:

-             hardware, which is technically described in the Webshop (hereinafter: “Hardware”), and which is offered by the provider SimplyNUC Europe Ltd, RMA001 Unit 3 IDA Business Park, Ardee Road, Dunleer Co Louth A92 RP77, Ireland (hereinafter: “Provider”)

-             software that enables creation and operation of nodes on the eCredits blockchain in a decentralized manner, created by SCE and preloaded on the Nodes (hereinafter: “Software”);

-             printed eCredits logo on Nodes, representing a trademark owned by SCE

that ultimately constitute the final product (hereinafter: “Nodes”) ordered by the user from the Webshop. The Nodes are shipped by the Provider, who takes care of successful delivery, returns and hardware troubleshooting.


1.3           SCE is not responsible for the operation of the eCredits blockchain or the blockchain operation as it is a decentralized system of individual nodes (validators). For more information, please visit: eCredits Nodes. SCE has only developed its own version of the Software to facilitate the creation of nodes in the eCredits system but has no responsibility or rights with regard to the operation of the eCredits blockchain itself.






2.1            All intellectual rights in relation to the Hardware are not the domain of SCE, but are the domain of the Provider, so in this case please see the Provider's website for more information about rights and obligations regarding the Hardware:


2.2           As contributors to the eCredits ecosystem, we allow you to use the Software for use on Nodes or other devices for the sole purpose of creating and operation Nodes on the eCredits blockchain and we grant you a non-exclusive, personal, non-transferable license for this sole purpose.  You agree that all confidential information, copyright and other Intellectual Property rights on the Software or any portion of the Software belong to us, our partners or the third-parties who have licensed us to use those rights. Except for the limited use and access rights described in this disclaimer, you do not acquire any ownership interest or rights on the Software, our Intellectual Property, or such other technology, software or intellectual property provided or made available by us.


2.3             You may not, and may not attempt to, directly or indirectly: (a) transfer, sublicense, loan, sell, assign, lease, rent, act as a service bureau, distribute or grant rights to any person or entity in the Software; (b) remove, obscure, or alter any notice of any trademark, or other intellectual property or proprietary right appearing on or contained within the Software; (c) modify, alter, tamper with, repair, or otherwise create derivative works of Software; (d) reverse engineer, disassemble, or decompile the Software.





3.1           You represent and warrant to us that:

·       you have read and agree to this disclaimer;

·       you are at least eighteen (18) years of age;

·       you will resolve any dispute or complaint directly with the SCE;

·       you will not use the Software, directly or indirectly, for any fraudulent undertaking or in any manner so as to interfere with the use of the Software;

·       you will not use the Software in any manner that could interfere with, disrupt, negatively affect or inhibit other Users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;

·       you are fully familiar with the operation of blockchain technology in general and the eCredits blockchain and ecosystem in particular, and with all the associated risks;

·       you are familiar with how a node work in the eCredits blockchain technology, and all the rules and validation methods;

·       that the purpose of nodes is to contribute to the improvement and operation of the eCredits blockchain and that you have no concrete expectations of any financial results that may arise from the operation of nodes;

·       that the eCredits blockchain is a decentralised system over which the SCE has no influence on the operation or operation of the nodes, but rather a community of node validators who independently regulate the eCredits blockchain policy;

·       that you can lose all the assets on the blockchain technology, or the value of the assets can be significantly reduced due to high fluctuations in the cryptocurrency markets.




4.1           Disclaimer. The Software is provided on a “as is,” “as available” basis and without any representation or warranty, whether it is express, implied, or statutory. You expressly waive and we and our officers, directors, agents, joint venturers, employees and suppliers of SCE, expressly disclaim any and all representation and warranty of any kind regarding the Software or the content, materials, information and functions made accessible or accessed through the Software, or for any breach of security associated with the transmission of sensitive information through the Software.


4.2          SCE does not warrant or guarantee that the Software is accurate, reliable or correct; that the Software will meet your requirements; that the Software will be available at any particular time or location, uninterrupted, error-free, without defect or secure; that any defects or errors will be corrected; or that the software free of viruses or other harmful components. SCE shall not be responsible for any interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of any transactions of the Nodes. You agree with the risks section of these terms when using the Software.


4.3          We do not have control of, or liability for, for the operation of Software or Nodes. We do not warrant, endorse, guarantee, or assume responsibility for the Nodes or Software or offered by a third party and we are not responsible for the quality, performance, or any consequential results of the Nodes or Software




5.1           To the maximum extent permitted by applicable law, in no event will SCE be liable for any direct, indirect, punitive, incidental, special, consequential, or exemplary damages, including without limitation damages for loss of assets, profits, goodwill, use, data, or other intangible losses, that result from the use of, inability to use, or unavailability of the Software, Nodes or eCredits blockchain. In all cases, SCE will not be liable for any loss or damage that is not reasonably foreseeable. Under no circumstances will SCE be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the Software.


5.2          Some jurisdictions do not allow certain limitation of liability, therefore the foregoing limitation of liability shall apply to the fullest extend permitted by law in such jurisdictions.




6.1           You will indemnify, defend, and hold us and our partners (including our respective employees, directors, agents and representatives) harmless from and against any and all claims, costs, losses, damages, judgments, tax assessments, penalties, interest, and expenses (including without limitation reasonable attorneys’ fees) arising out of any claim, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises out of or relates to: (a) any actual or alleged breach of your representations, warranties, or obligations set forth in this disclaimer; (b) your wrongful or improper use of the Software and eCredits blockchain; (c) your violation of any third-party right, including without limitation any right of privacy, publicity rights or intellectual property rights; (d) your violation of any applicable law, rule or regulation of Luxemburg or any other country; and (e) any other party’s access and/or use of the Software.



7                RISKS


7.1           User agrees and acknowledges that Nodes, Software, blockchain technology, cryptocurrency protocols and related technologies are correlated with certain risks. By using the Nodes and the Software, you accept the risks outlined in this disclaimer and other risks not specified herein.


7.2           User agrees and acknowledges that SCE hereby expressly disclaim any and all responsibility and liability for any direct, indirect, incidental, special or consequential losses or damages of any kind, including but not limited to damages or losses in profits, goods or services, irrespective of whether or not the User has been notified, advised or otherwise might have anticipated the possibility of such loss or damage occurring in light of (but not limited to) the following risks. User will defend, indemnify, and hold harmless SCE and/or any of their agents, officers, directors, or employees from and against any violation of such laws or regulations. User acknowledges that he has understood and been warned of the following risks:


a) Price risks: User agrees and acknowledges that he shall access and use the Nodes at his own risk. With using the Software User acknowledges and consents that use of Software may result in total loss of value of cryptocurrencies due to factors that affect the price/value and overall performance of the cryptocurrency markets in which the User is involved.


b) Volatility risks: The actual price/value of cryptocurrencies may be different than indicated, especially during periods of illiquidity, or volatility in the marketplaces for any of cryptocurrencies.  SCE is not liable for any direct, indirect, incidental, special, or consequential damages or losses in profits, goods or services, which might occur due to any such price fluctuations.


c) Legal risks: Due to the legal uncertainty in different jurisdictions on digital-ledger technology, there is a risk that in some jurisdictions eCredits cryptocurrencies might be prohibited, considered as security, financial instrument or limited in any other way. SCE gives no warranties or guarantees on the legal nature of eCredits. All Users shall bear their own legal and financial consequences of cryptocurrencies possibly being prohibited or considered as security, financial instrument or limited in any way in their respective jurisdiction. The legal ability of SCE to provide the Software in some jurisdictions may be limited or eliminated by future regulation or legal actions. In that respect, SCE has total discretion to cease providing Software in any jurisdiction, or to adjust charging for Software in a way that complies with the regulation should that be possible and viable. Every User shall monitor at any time whether possession or disposal of cryptocurrencies is legal in their jurisdiction.


d) Risks regarding the eCredits blockchain protocol and blockchain technology: Any unexpected or unintended malfunction of those technologies or protocol can Software or eCredits cryptocurrencies to malfunction or function in a different manner.  SCE does not guarantee that in those cases Software shall operate without any disturbances, flaws, errors or defects and bugs that may intervene with the full functionality of Software. There are also potential risks with unfavourable regulation or governmental action in different jurisdictions that could in any way limit the use of the technologies and protocols. The eCredits blockchain source code (or any other blockchain technology) could be updated, amended, altered or modified from time to time by the developers and/or the community of eCredits. Also, other codes and protocols in the blockchain community, used by the algorithms, can be altered the same. As a result, any update, amendment, alteration or modification could lead to an unexpected or unintended outcome that adversely affects the Software which might also affect the price/value and overall performance of the markets in which the User is involved. Any possible changes in the blockchain protocols could adversely impact the operation of the Software and could in the worst-case scenario, ruin the sustainability of the Software.


e) Risk of theft, hacking, mining attacks or loss: Hackers or other groups or organizations may attempt to interfere with the private keys, eCredits cryptocurrencies wallets of Users, in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. There are also other risks which could result in theft or loss of eCredits cryptocurrencies such as unintentional security weaknesses or bugs on the Software, any advances in cryptography and other technical advances that could interfere with eCredits blockchain technology, Nodes, Software, eCredits cryptocurrencies and other unexpected risks. There are also risks in the eCredits blockchain network or any other network which the Software interact with that can result in the loss of eCredits cryptocurrencies. The eCredits blockchain and other blockchain networks are susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, selfish-mining attacks, and race-condition attacks, that could present a risk to eCredits cryptocurrencies, price/value of eCredits cryptocurrencies and overall performance of the markets in which the User is involved. SCE makes no warranty that the Software will be uninterrupted, free of viruses or other harmful code, timely, secure, or error-free.


f) Internet transmission risks: There are risks associated with using the Nodes or Software, such as the failure of Hardware, Software, and internet connections. SCE shall not be responsible for any communication failures, disruptions, errors, distortions or delays Users may experience when using the Nodes.



Cryptocurrencies have special risks not generally shared with official currencies or goods or commodities in a market.


g) Cryptography risks: There are risks associated with cryptography, such as code cracking or technical advances such as the development of quantum computers, that could present risks to all cryptocurrencies including the Software and cryptocurrencies. This could result in the theft, loss, disappearance, destruction or devaluation of cryptocurrencies and overall performance of the markets in which the User is involved.


h) Development failure or abortion: Due to the technological complexity and difficulty that may be uncertain, unforeseeable and/or insurmountable, the development of the Software could fail or abort at any time for any reason.


i) Risk of loss of value and uninsured losses: The value of cryptocurrencies may fluctuate, and you may suffer loss in value. In this regard, SCE does not hold any liability for any direct, indirect, incidental, special, or consequential damages or loses in profits, goods or services.



j) Unanticipated risks: Crypto-assets and blockchain technologies are new and untested technology and in addition to the risk outlined in this disclaimer, there are also unforeseeable risks that may materialize as unanticipated and might affect the price/value of cryptocurrencies and overall performance of the markets in which the User is involved. It is impossible to predict the future of cryptography or the future of security innovations to an extent that would permit to accurately guide the development of Services to consider such unforeseeable changes in the domains of cryptography or security.


k) Fork policy: Hard forks are chain splits, where several post-fork chains are created with different characteristics, which may or may not be backwards compatible. These are usually meant to be protocol upgrades. A large majority consensus is achieved, and nodes immediately upgrade to the latest version of protocol software, and only the dominant blockchain remains active.



User acknowledges, agrees and warrants that he has been warned of the potential risks involved by using the Nodes and the Software and other relevant technologies mentioned herein as well as that there may be other risks involved, which are not specified herein and that you fully accept them as your risks without SCE being liable for any kind of direct, indirect, incidental, consequential damages or losses of funds or profits whatsoever.


7.3          There may be additional risks that we have not foreseen or identified. You should carefully assess whether your financial situation and tolerance for risk is suitable for using the Nodes and the Software.


The People's SCE