Satoshi Nakamoto inspired us to create Shakti Coin. In his work, we saw the potential for blockchain to change the way money works. We saw the potential for more financial inclusion and social good. Yet a decade after his historic white paper, we feel that no coin has yet managed to deliver on the promise that blockchain holds for the world. Our white paper explains how Shakti Coin changes that.
On August 30, 2018, we filed a no-action letter with the United States. Securities and Exchange Commission (SEC). By doing so we are requesting that the SEC review Shakti Coin and confirm its compliance with Federal Law. Although not required, we see this voluntary submission as a symbol of our desire for transparency and legal compliance in every market Shakti serves. You can view the letter here.
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Mining Software License 1.04
This Mining License Agreement, including the Order Form which by this reference is incorporated herein (this “Agreement”), is a binding agreement between SXE Network Operations LLC, a Wyoming Limited Liability Corporation with offices located at 1621 Central Ave, Cheyenne, WY 82001 (”Licensor”) and the person or entity identified on the Order Form as the licensee of the Software (”Licensee”).
LICENSOR PROVIDES THE SOFTWARE SOLELY ON THE TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT AND ON THE CONDITION THAT LICENSEE ACCEPTS AND COMPLIES WITH THEM. BY CLICKING THE “ACCEPT” BUTTON AND SUBMITTING PAYMENT YOU (A) ACCEPT THIS AGREEMENT AND AGREE THAT LICENSEE IS LEGALLY BOUND BY ITS TERMS; AND (B) REPRESENT AND WARRANT THAT: (I) YOU ARE OF LEGAL AGE TO ENTER INTO A BINDING AGREEMENT; AND (II) IF LICENSEE IS A CORPORATION, GOVERNMENTAL ORGANIZATION, OR OTHER LEGAL ENTITY, YOU HAVE THE RIGHT, POWER, AND AUTHORITY TO ENTER INTO THIS AGREEMENT ON BEHALF OF LICENSEE AND BIND LICENSEE TO ITS TERMS. IF LICENSEE DOES NOT AGREE TO THE TERMS OF THIS AGREEMENT, LICENSOR WILL NOT AND DOES NOT LICENSE THE SOFTWARE TO LICENSEE AND YOU MUST NOT DOWNLOAD, INSTALL, OR USE THE SOFTWARE OR DOCUMENTATION.
NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT OR YOUR OR LICENSEE’S ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AGREEMENT, NO LICENSE IS GRANTED (WHETHER EXPRESSLY, BY IMPLICATION, OR OTHERWISE) UNDER THIS AGREEMENT, AND THIS AGREEMENT EXPRESSLY EXCLUDES ANY RIGHT, CONCERNING ANY SOFTWARE THAT LICENSEE DID NOT ACQUIRE LAWFULLY OR THAT IS NOT A LEGITIMATE, AUTHORIZED COPY OF LICENSOR’S SOFTWARE.
"Documentation" means Licensor's user manuals, white paper, and installation guides relating to the Software provided by Licensor to Licensee either electronically or in hard copy form relating to the Software available at www.shakticoin.com
“Order Form” means the order form filled out and submitted by or on behalf of Licensee, and accepted by Licensor, for Licensee’s purchase of the license for the Software granted under this Agreement.
“Person” means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization, trust, association, or other entity.
“Updates" means any updates, bug fixes, patches, or other error corrections to the Software that Licensor generally makes available free of charge to all licensees of the Software. Updates may also include revised Documentation. Updates shall mean modifications to the Software requested by Licensee that add significant features to it, including new functionality, capabilities, services and links to Third Party Software, to be delivered by Licensor to Licensee.
License Grant and Scope.
Subject to and conditioned upon Licensee’s payment of the License Fees and Licensee’s strict compliance with all terms and conditions set forth in this Agreement, Licensor hereby grants to Licensee a non-exclusive, non-transferable, non-sublicensable, limited license during the Term to use, solely by and through its Authorized Users, the Software and Documentation, solely as set forth in this Section 2 and subject to all conditions and limitations set forth in Section 4 or elsewhere in this Agreement. This license grants Licensee the right, exercisable solely by and through Licensee’s Authorized Users, to:
Download, and install in accordance with the Documentation one (1) copy of the Software on one (1) device owned or leased, and controlled by, Licensee. Each such device shall be for a single Authorized User. All copies and derivative works, including forks, of the Software made by the Licensee:
(iii) must include all trademark, copyright, patent, and other Intellectual Property Rights notices contained in the original; and
(iv) must adhere to the technical specifications and restrictions as defined in Annex 3 for the Power License selected by Licensee.
Use and run the Software as properly installed in accordance with this Agreement and the Documentation, solely as set forth in the Documentation.
Download or otherwise make one (1) copy of the Documentation and use such Documentation, solely in support of its licensed use of the Software in accordance herewith.
All copies of the Documentation made by Licensee:
(iii) must include all trademark, copyright, patent, and other Intellectual Property Rights notices contained in the original.
Third-Party Materials. The Software may include software, content, data, or other materials, including related documentation, that are owned by Persons other than Licensor and that are provided to Licensee on licensee terms that are in addition to and/or different from those contained in this Agreement (“Third-Party Licenses”). A list of all materials, if any, included in the Software and provided under Third-Party Licenses can be found on www.ShaktiCoin.com/en/miners/ and the applicable Third-Party Licenses are accessible via links therefrom. Licensee is bound by and shall comply with all Third-Party Licenses. Any breach by Licensee or any of its Authorized Users of any Third-Party License is also a breach of this Agreement.
Use Restrictions. Licensee shall not, and shall require its Authorized Users not to, directly or indirectly:
modify, translate, adapt, fork, or otherwise create derivative works or improvements, whether or not patentable, of the Software or Documentation or any part thereof;
combine the Software or any part thereof with, or incorporate the Software or any part thereof in, any other programs;
reverse engineer, disassemble, decompile, decode, or otherwise attempt to manipulate the source code of the Software or any part thereof;
remove, delete, alter, or obscure any trademarks or any copyright, trademark, patent, or other intellectual property or proprietary rights notices provided on or with the Software or Documentation, including any copy thereof;
except as expressly set forth in Section 2(a) and Section 2(c), copy the Software or Documentation, in whole or in part;
rent, lease, lend, sell, sublicense, assign, distribute, publish, transfer, or otherwise make available the Software, or any features or functionality of the Software, to any Third Party for any reason, whether or not over a network or on a hosted basis, including in connection with the internet or any web hosting, wide area network (WAN), virtual private network (VPN), virtualization, time-sharing, service bureau, software as a service, cloud, or other technology or service;
use the Software or Documentation in violation of any law, regulation, or rule; or
use the Software or Documentation for purposes of competitive analysis of the Software, the development of a competing software product or service, or any other purpose that is to the Licensor’s commercial disadvantage.
Responsibility for Use of Software.
Licensee is responsible and liable for all uses of the Software and Documentation resulting from access provided by Licensee, directly or indirectly, whether such access or use is permitted by or in violation of this Agreement. Licensee shall take reasonable efforts to make all Authorized Users aware of this Agreement's provisions as applicable to such Authorized User's use of the Software and shall cause Authorized Users to comply with such provisions.
The Software may contain technological protections or other security features designed to prevent unauthorized use of the Software, including features to protect against any use of the Software that is prohibited under Section 4. Licensee shall not, and shall not attempt to, remove, disable, circumvent, or otherwise create or implement any workaround to, any such copy protection or security features. Licensee shall not modify, change or alter any portion of the Software or Documentation without the express written permission of Licensor. Any such modifications, changes or alterations, including improvements, shall be the property of Licensor, and Licensee shall assign any such rights it may have or acquire in such modifications, changes or alterations to Licensor.
This Agreement does not entitle Licensee to any support for the Software. During the period specified in Section 12, Licensor will make available to Licensee support services at the sole discretion of Licensor. Any maintenance and support services provided will include provision of such updates, upgrades, bug fixes, patches, and other error corrections (collectively, “Updates”) as Licensor makes generally available free of charge to all licensees of the Software then entitled to maintenance and support services. Licensor may develop and provide Updates in its sole discretion, and Licensee agrees that Licensor has no obligation to develop any Updates at all or for particular issues. Licensee further agrees that all Updates will be deemed Software, and related documentation will be deemed Documentation, all subject to all terms and conditions of this Agreement. Licensee acknowledges that Licensor may provide some or all Updates via download from a website designated by Licensor and that Licensee’s receipt thereof will require an internet connection, which connection is Licensee’s sole responsibility. Licensor has no obligation to provide Updates via any other media. Maintenance and support services do not include any new version or new release of the Software that Licensor may issue as a separate or new product, and Licensor may determine whether any issuance qualifies as a new version, new release, or Update in its sole discretion.
Collection and Use of Information
Licensee acknowledges that Licensor may, directly or indirectly through the services of Third Parties, collect and store information regarding use of the Software and about equipment on which the Software is installed or through which it otherwise is accessed and used, through:
verifying Licensee’s compliance with the terms of this Agreement and enforcing the Licensor’s rights, including all Intellectual Property Rights in and to the Software.
Intellectual Property Rights.
Licensee acknowledges and agrees that the Software and Documentation are provided under license, and not sold, to Licensee. Licensee does not acquire any ownership interest in the Software or Documentation under this Agreement, or any other rights thereto, other than to use the same in accordance with the license granted and subject to all terms, conditions, and restrictions under this Agreement. Licensor reserves and shall retain its entire right, title, and interest in and to the Software and all Intellectual Property Rights arising out of or relating to the Software, except as expressly granted to the Licensee in this Agreement. Licensee shall use commercially reasonable efforts to safeguard all Software (including all copies thereof) from infringement, misappropriation, theft, misuse, or unauthorized access. Licensee shall promptly notify Licensor if Licensee becomes aware of any infringement of the Licensor’s Intellectual Property Rights in the Software and fully cooperate with Licensor in any legal action taken by Licensor to enforce its Intellectual Property Rights.
The Proof of Effort (PoE) mechanism is part of the "Software" as defined in 1(c). The PoE mechanism is open source software: you can redistribute it and/or modify it under the terms of the GNU General Public License as published by the Free Software Foundation version GBL-3.0-or-later.
The PoE is distributed in the hope that it will be useful, but WITHOUT ANY WARRANTY; without the implied warranty of MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the GNU General Public License at <https://www.gnu.org/licenses/> for more details.
All License Fees and Support Fees are payable in advance in the manner set forth in the Order Form and are non-refundable, except as may be expressly set forth herein. Any renewal of the license or maintenance and support services hereunder shall not be effective until the fees for such renewal have been paid in full.
Taxes. All Fees and other amounts payable by Licensee under this Agreement are exclusive of taxes and similar assessments. Licensee is responsible for all sales, use, and excise taxes, and any other similar taxes, duties, and charges of any kind imposed by any federal, state, or local governmental or other regulatory authority on any amounts due or owing by Licensee hereunder, other than any taxes imposed on Licensor's income.
Term and Termination.
Licensee may terminate this Agreement by requesting a refund, as set forth in Section 12(a), within the first one hundred and twenty (120) days after the purchase of the license.
Licensor may terminate this Agreement, effective upon written notice to Licensee, if Licensee breaches this Agreement and such breach: (i) is incapable of cure; or (ii) being capable of cure, remains uncured for thirty (30) days after Licensor provides written notice thereof.
Upon early termination of this Agreement, the license granted hereunder shall also terminate, and Licensee shall cease using the Software and Documentation. No expiration or termination shall affect Licensee’s obligation to pay all Fees that may have become due before such termination, or entitle Licensee to any refund, in each case except as set forth in Section 12(c)(ii).
Limited Warranties and Warranty Disclaimer.
Licensor warrants that at the time of delivery, to the best of its knowledge, the Software does not contain any virus or other malicious code that would cause the Software to become inoperable or incapable of being used in accordance with the Documentation. Solely with respect to Software for which Licensor receives a License Fee, Licensor warrants that, for a period of one hundred and twenty (120) days following the purchase date set forth on the Order Form, Licensor will refund the fees paid as described in 12(c)(ii). Any return of fees does not waive the Data Processing Agreement in Annex 2. THE FOREGOING WARRANTIES DO NOT APPLY, AND LICENSOR STRICTLY DISCLAIMS ALL WARRANTIES, WITH RESPECT TO ANY THIRD-PARTY PRODUCTS.
The warranties set forth in Section 12(a) do not apply and become null and void if Licensee breaches any material provision of this Agreement, or if Licensee or any Authorized User, whether or not in violation of this Agreement: (i) modifies or creates derivatives of the Software; or (ii) misuses the Software, including any use of the Software other than as specified in the Documentation or expressly authorized by Licensor in writing.
If, during the period specified in Section 12(a), any Software fails to comply with the warranty in Section 12(a), and such failure is not excluded from warranty pursuant to Section 12(b), Licensor shall, subject to Licensee's promptly notifying Licensor in writing of such failure, at its sole option, either: (i) repair or replace the Software, provided that Licensee provides Licensor with all information Licensor reasonably requests to resolve the reported failure, including sufficient information to enable the Licensor to recreate such failure; or (ii) refund the Fees paid for such Software, subject to Licensee's ceasing all use of the Software. If Licensor repairs or replaces the Software, the warranty will continue to run from the Effective Date and not from Licensee's receipt of the repair or replacement. The remedies set forth in this Section 12(c) are Licensee's sole remedies and Licensor's sole liability under the limited warranty set forth in Section 12(a).
EXCEPT FOR THE LIMITED WARRANTY SET FORTH IN SECTION 12(a), THE SOFTWARE AND DOCUMENTATION ARE PROVIDED "AS IS" AND LICENSOR HEREBY DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE. LICENSOR SPECIFICALLY DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT, AND ALL WARRANTIES ARISING FROM COURSE OF DEALING, USAGE, OR TRADE PRACTICE. EXCEPT FOR THE LIMITED WARRANTY SET FORTH IN SECTION 12(a), LICENSOR MAKES NO WARRANTY OF ANY KIND THAT THE SOFTWARE AND DOCUMENTATION, OR ANY PRODUCTS OR RESULTS OF THE USE THEREOF, WILL MEET LICENSEE'S OR ANY OTHER PERSON'S REQUIREMENTS, OPERATE WITHOUT INTERRUPTION, ACHIEVE ANY INTENDED RESULT, BE COMPATIBLE OR WORK WITH ANY SOFTWARE, SYSTEM OR OTHER SERVICES, OR BE SECURE, ACCURATE, COMPLETE, FREE OF HARMFUL CODE, OR ERROR FREE.
Indemnification by Licensor. Licensee shall promptly notify Licensor in writing of any law suit, claim or other similar action, whether actual or threatened, for the use of the Software or Documentation and shall cooperate with Licensee in defending against any such law suit, claim or similar action. Licensor shall indemnify, hold harmless and defend Licensee and Authorized Users, at Licensor's expense, from and against any and all claims, demands, actions, costs, expenses, liabilities, judgments, causes of action, proceedings, suits, losses and damages of any nature, which are threatened or brought against (or are suffered or incurred by) Licensee or any such person by any third-party based upon infringement of a copyright, trade secret or similar proprietary right (each a “Infringement Claim”) arising out of Licensee’s use of the Software; provided, however that Licensor shall have no obligation to Licensee under this Section with respect to any Infringement Claim based solely upon Licensee's own content or modifications to the Software or Documentation. In the event an Infringement Claim is found by a court of competent jurisdiction to constitute an infringement and Licensee's use of the Software and/or Documentation (including without limitation its continued development activities or sale/licensing activities) is enjoined, Licensor shall, at its sole option, do one of the following: (i) procure for Licensee the right to continue use of the Software and Documentation (including without limitation its continued development activities or sale/licensing activities); or (ii) provide modifications to the affected Software so that its use (including continued development activities and sale/licensing activities) becomes non-infringing, or (iii) terminate the license. In no event will Licensor’s aggregate liability arising out of or related to this agreement exceed the total amounts from Licensee to Licensor under this agreement in the one (1) year period preceding the event giving rise to the claim.
Indemnification by Licensee. Licensee shall indemnify, hold harmless and defend Licensor and its members, managers, officers, directors, agents, employees, and affiliates, at Licensee’s expense from and against any and all claims, demands, actions, costs, expenses, liabilities, judgments, causes of action, proceedings, suits, losses and damages of any nature, which are threatened or brought against (or are suffered or incurred by) Licensor or any such person by any third-party based upon an Infringement Claim arising out of Licensee's content or modifications to the Software and/or Documentation.
IN NO EVENT WILL LICENSOR BE LIABLE UNDER OR IN CONNECTION WITH THIS AGREEMENT UNDER ANY LEGAL OR EQUITABLE THEORY, INCLUDING BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, AND OTHERWISE, FOR ANY: (a) CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, ENHANCED, OR PUNITIVE DAMAGES; (b) INCREASED COSTS, DIMINUTION IN VALUE OR LOST BUSINESS, PRODUCTION, REVENUES, OR PROFITS; (c) LOSS OF GOODWILL OR REPUTATION; (d) USE, INABILITY TO USE, LOSS, INTERRUPTION, DELAY OR RECOVERY OF ANY DATA, OR BREACH OF DATA OR SYSTEM SECURITY; OR (e) COST OF REPLACEMENT GOODS OR SERVICES, IN EACH CASE REGARDLESS OF WHETHER LICENSOR WAS ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES OR SUCH LOSSES OR DAMAGES WERE OTHERWISE FORESEEABLE. IN NO EVENT WILL LICENSOR'S AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THIS AGREEMENT UNDER ANY LEGAL OR EQUITABLE THEORY, INCLUDING BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, AND OTHERWISE EXCEED THE TOTAL AMOUNTS FROM LICEENSEE TO LICENSOR UNDER THIS AGREEMENT IN THE ONE (1) YEAR PERIOD PRECEDING THE EVENT GIVING RISE TO THE CLAIM.
LICENSOR SHALL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, THE LOSS OF GOODWILL, DAMAGES FOR LOST BUSINESS, PROFITS, OR DATA RESULTING FROM THE USE OR INABILITY TO USE THE SOFTWARE, THE DOCUMENTATION, THE TOOLS, OR THE SERVICES, OR FROM ANY MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR COMMUNICATIONS, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION, FAILURE OF PERFORMANCE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS INCURRED BY LICENSEE, OR ANY THIRD PARTY IN CONNECTION WITH THIS AGREEMENT, REGARDLESS OF THE NATURE OF THE CLAIM (INCLUDING NEGLIGENCE), EVEN IF FORESEEABLE OR LICENSOR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. LICENSOR’S AGGREGATE LIABILITY FOR DAMAGES UNDER THIS AGREEMENT, REGARDLESS OF THE NATURE OF THE CLAIM (INCLUDING NEGLIGENCE), SHALL NOT EXCEED THE FEES PAID OR PAYABLE BY LICENSEE UNDER THIS AGREEMENT.
The Software and Documentation may be subject to US export control laws, including the US Export Administration Act and its associated regulations. The Licensee shall not, directly or indirectly, export, re-export, or release the Software or Documentation to, or make the Software or Documentation accessible from, any jurisdiction or country to which export, re-export, or release is prohibited by law, rule, or regulation. The Licensee shall comply with all applicable federal laws, regulations, and rules, and complete all required undertakings (including obtaining any necessary export license or other governmental approval), prior to exporting, re-exporting, releasing, or otherwise making the Software or Documentation available outside the US. Any export, re-export, or release of the Software or Documentation that is prohibited by law, rule, or regulation, shall be a basis for the Licensor to terminate this agreement immediately.
US Government Rights.
The Software is commercial computer software, as such term is defined in 48 C.F.R. §2.101. Accordingly, if the Licensee is the US Government or any contractor therefor, Licensee shall receive only those rights with respect to the Software and Documentation as are granted to all other end users under license, in accordance with (a) 48 C.F.R. §227.7201 through 48 C.F.R. §227.7204, with respect to the Department of Defense and their contractors, or (b) 48 C.F.R. §12.212, with respect to all other US Government licensees and their contractors.
During the term of this Agreement, Licensee may acquire or access “Confidential Information” about Licensor, its operations, the Software (and code) and Documentation. Licensee expressly agrees that it shall not use Confidential Information in the development of any products or services for its own account or for the account of a third party unless expressly agreed to by Licensor in writing. Further, Licensee agrees not to use the Confidential Information for purposes other than that necessary to execute its obligations under this Agreement. Licensee shall protect the Confidential Information by using the same degree of care as the Licensee uses to protect its own Confidential Information, but no less than reasonable care, to prevent the unauthorized use, dissemination or publication of the Confidential Information. Licensee shall limit its internal disclosure of the Confidential Information only to those employees and agents who have a need to know the information for the limited purpose of executing Licensee’s obligations under this Agreement.
Such “Confidential Information” shall include, but is not limited to, identities of other Third Party SXE Network participants information acquired from employees; trade secrets; strategic plans; invention plans and disclosures; customer information; banking and financial information; suppliers; software; distribution channels; marketing studies; intellectual property; information relating to process and products, designs, business plans, business opportunities, marketing plans, business contacts, finances, research, development, know-how or personnel; confidential information originally received from third parties; information relating to any type of technology, and all other material. In addition, the existence and terms of this Agreement shall also be treated as Confidential Information.
All matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the internal laws of the State of Wyoming without giving effect to any choice or conflict of law provision or rule. Any legal suit, action, or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby shall be instituted in the federal courts of the United States of America or the courts of the State of Wyoming in each case located in the City of Cheyenne and County of Laramie, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such legal suit, action, or proceeding. Service of process, summons, notice, or other document by mail to such party’s address set forth herein shall be effective service of process for any suit, action, or other proceeding brought in any such court.
Licensor will not be responsible or liable to Licensee, or deemed in default or breach hereunder by reason of any failure or delay in the performance of its obligations hereunder where such failure or delay is due to an event of force majeure which shall include strikes, labor disputes, civil disturbances, riot, rebellion, invasion, epidemic, hostilities, war, terrorist attack, embargo, natural disaster, acts of God, flood, fire, sabotage, fluctuations or non-availability of electrical power, heat, light, air conditioning, or Licensee equipment, loss and destruction of property, change of law or regulations, or any other circumstances or causes beyond Licensor’s reasonable control.
All notices, requests, consents, claims, demands, waivers, and other communications hereunder shall be in writing and shall be deemed to have been given: (i) when delivered by hand (with written confirmation of receipt); (ii) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (iii) on the date sent by facsimile or email (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (iv) on the third (3rd) day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses set forth on the Order Form (or to such other address as may be designated by a party from time to time in accordance with this Section 18(c)).
This Agreement, together with the Order Form and all annexes and exhibits attached hereto, and all other documents that are incorporated by reference herein, constitutes the sole and entire agreement between Licensee and Licensor with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, with respect to such subject matter.
Licensee shall not assign or otherwise transfer any of its rights, or delegate or otherwise transfer any of its obligations or performance, under this Agreement, in each case whether voluntarily, involuntarily, by operation of law, or otherwise, without Licensor’s prior written consent, which consent Licensor may give or withhold in its sole discretion. No delegation or other transfer will relieve Licensee of any of its obligations or performance under this Agreement. Any purported assignment, delegation, or transfer in violation of this Section 18(e) is void. Licensor may freely assign or otherwise transfer all or any of its rights, or delegate or otherwise transfer all or any of its obligations or performance, under this Agreement without Licensee’s consent. This Agreement is binding upon and inures to the benefit of the parties hereto and their respective permitted successors and assigns.
This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer on any other Person any legal or equitable right, benefit, or remedy of any nature whatsoever under or by reason of this Agreement.
This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.
If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
For purposes of this Agreement, (a) the words “include,” “includes,” and “including” shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,” “hereby,” “hereto,” and “hereunder” refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Sections, Annexes, Schedules, and Exhibits refer to the Sections of, and Annexes, Schedules, and Exhibits attached to, this Agreement; (y) to an agreement, instrument, or other document means such agreement, instrument, or other document as amended, supplemented, and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The Order Form and all Annexes referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent as if they were set forth verbatim herein.
The headings in this Agreement are for reference only and do not affect the interpretation of this Agreement.
(a) the expiration or earlier termination of the Software License Agreement between Licensor and Licensee; or
(b) your ceasing to be authorized by Licensee to use the Software for any or no reason.
2. Use Restrictions. You shall not, directly or indirectly:
(a) use the Software or Documentation except as set forth in Section 1;
(b) copy the Software or Documentation, in whole or in part;
(c) modify, translate, adapt, or otherwise create derivative works or improvements, whether or not patentable, of the Software or any part thereof;
(d) combine the Software or any part thereof with, or incorporate the Software or any part thereof in, any other programs;
(e) reverse engineer, disassemble, decompile, decode, or otherwise attempt to derive or gain access to the source code of the Software or any part thereof;
(f) remove, delete, alter, or obscure any trademarks or any copyright, trademark, patent, or other intellectual property or proprietary rights notices included on or in the Software or Documentation, including any copy thereof;
(g) rent, lease, lend, sell, sublicense, assign, distribute, publish, transfer, or otherwise provide any access to or use of the Software or any features or functionality of the Software, for any reason, to any other person or entity, including any subcontractor, independent contractor, affiliate, or service provider of Licensee, whether or not over a network and whether or not on a hosted basis, including in connection with the internet, web hosting, wide area network (WAN), virtual private network (VPN), virtualization, time-sharing, service bureau, software as a service, cloud, or other technology or service;
(h) use the Software or Documentation in, or in association with, the design, construction, maintenance, or operation of any hazardous environments or systems, including:
(i) power generation systems;
(ii) aircraft navigation or communication systems, air traffic control systems, or any other transport management systems;
(iii) safety-critical applications, including medical or life-support systems, vehicle operation applications, or any police, fire, or other safety response systems; and
(iv) military or aerospace applications, weapons systems, or environments.
(i) use the Software or Documentation in violation of any law, regulation, or rule; or
(j) use the Software or Documentation for purposes of competitive analysis of the Software, the development of a competing software product or service, or any other purpose that is to the Licensor’s commercial disadvantage.
3. Collection and Use of Information.
(a) Licensor may, directly or indirectly through the services of others, collect and store information regarding use of the Software and about equipment on which the Software is installed or through which it otherwise is accessed and used, by means of (i) providing maintenance and support services and (ii) security measures included in the Software as described in Section 3.
(b) You agree that the Licensor may use such information for any purpose related to any use of the Software by you, including but not limited to: (i) improving the performance of the Software or developing updates; and verifying compliance with the terms of this Agreement and enforcing Licensor’s rights, including all intellectual property rights in and to the Software.
5. Intellectual Property Rights. You acknowledge that the Software is provided under license, and not sold, to you. You do not acquire any ownership interest in the Software under this Agreement, or any other rights to the Software other than to use the Software in accordance with the license granted under this Agreement, subject to all terms, conditions, and restrictions. Licensor reserves and shall retain its entire right, title, and interest in and to the Software and all intellectual property rights arising out of or relating to the Software, subject to the license expressly granted to the Licensee in this Agreement. You shall use commercially reasonable efforts to safeguard all Software (including all copies thereof) from infringement, misappropriation, theft, misuse, or unauthorized access.
6. Disclaimer of Liability. IN NO EVENT WILL LICENSOR OR ITS AFFILIATES, OR ANY OF ITS OR THEIR RESPECTIVE LICENSORS OR SERVICE PROVIDERS, BE LIABLE TO YOU FOR ANY USE, INTERRUPTION, DELAY, OR INABILITY TO USE THE SOFTWARE. YOU ARE PROVIDED THE SOFTWARE PURSUANT TO THE SOFTWARE LICENSE AGREEMENT BETWEEN LICENSOR AND LICENSEE, SOLELY FOR THE BENEFIT OF LICENSEE AND AT LICENSEE’S DISCRETION. YOU ACKNOWLEDGE THAT YOU HAVE NO RIGHTS UNDER THAT AGREEMENT INCLUDING ANY RIGHTS TO ENFORCE ANY OF ITS TERMS. ANY OBLIGATION OR LIABILITY LICENSOR OR ITS AFFILIATES, OR ANY OF ITS OR THEIR LICENSORS OR SERVICE PROVIDERS, MAY HAVE WITH RESPECT TO YOUR USE OR INABILITY TO USE THE SOFTWARE SHALL BE SOLELY TO LICENSEE PURSUANT TO THAT AGREEMENT AND SUBJECT TO ALL LIMITATIONS OF LIABILITY SET FORTH THEREIN.
7. Export Regulation. The Software may be subject to US export control laws, including the US Export Administration Act and its associated regulations. You shall not, directly or indirectly, export, re-export, or release the Software to, or make the Software or Documentation accessible from, any jurisdiction or country to which export, re-export, or release is prohibited by law, rule, or regulation. You shall comply with all applicable federal laws, regulations, and rules, and complete all required undertakings (including obtaining any necessary export license or other governmental approval), prior to exporting, re-exporting, releasing, or otherwise making the Software available outside the US.
DATA PROCESSOR AGREEMENT
For the purposes of this Agreement:
“Applicable Data Protection law” means any EU and Irish law which may apply to the terms of this Agreement and which may vary from time to time;
“Data Controller” and “Data Processor” shall have the meanings as set out in Article 4(7) and (8) respectively of EU General Data Protection Regulation 2016/679 (the “GDPR”);
“Data Protection Commissioner” (DPC) is the supervisory authority for the purposes of Article 51 of the GDPR;
“Data Subject” means an individual who is the subject of Personal Data;
“Personal Data” shall have the meaning set out in Article 4(1) of the GDPR;
“Prompt Notice” shall mean 24 hours unless otherwise expressly stated in this agreement;
“Special Category Data” shall have the meaning set out in Article 9(1) of the GDPR;
“Third Country” shall mean a location outside of the European Economic Area (EEA), the EEA being: Austria, Belgium, Bulgaria, Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom.
This Agreement, including these definitions and its recitals and schedules, only relates to the Agreement and does not incorporate commercial business terms established by the parties under separate commercial arrangements.
The Data Controller and the Data Processor acknowledge that for the purposes of the Applicable Data Protection Law (as amended) Licensor is the Data Controller and Licensee is the Data Processor in respect of any Personal Data.
The Data Controller and the Data Processor are parties to the Agreement for the provision described on the Order Form. In connection with the Service Agreement, certain Personal Data concerning Data Subjects (both as defined below) may be transferred from the Data Controller to the Data Processor. This Data Processor Agreement is intended to govern such transfers.
The parties agree that:
1.1 The Data Processor shall process Personal Data only for the purposes of carrying out their obligations arising under the Agreement.
1.2 The Data Controller shall instruct the Data Processor to process the Personal Data in any manner that may reasonably be required in order for the Data Processor to carry out the processing in compliance with this Agreement and in compliance with Applicable Data Protection law.
1.3 The details of the transfer and of the Personal Data are specified in the Documentation. The parties agree that the Documentation may contain confidential business information which they will not disclose to third parties, except as required by law or in response to a competent regulatory or government agency, or as required by law.
1.4 This Data Processor Agreement shall continue for no less a term than the term of the Agreement.
1.5 The rights and obligations of the parties with respect to each other under this Data Processor Agreement shall survive any termination of the Agreement.
To the extent required by law or regulation:
2.1.1 The Data Processor shall co-operate with the DPC in connection with any
activities performed by the Data Processor;
2.1.2 The Data Processor shall give prompt notice to the Data Controller of any development that may have a material impact on the Data Processor’s ability to perform services effectively under this Agreement and in compliance with applicable laws and regulatory requirements.
OBLIGATIONS OF THE DATA CONTROLLER:
The Data Controller warrants and undertakes that:
3.1 The Personal Data has been collected, processed and transferred in accordance with the GDPR and all Applicable Data Protection law.
3.2 It has used reasonable efforts to determine that the Data Processor is able to satisfy its legal obligations under this Agreement.
3.3 It will respond to enquiries from Data Subjects and the DPC concerning processing of the Personal Data by the Data Controller, unless the parties have agreed that the Data Processor will so respond, in which case the Data Controller will still respond to the extent reasonably possible and with the information reasonably available to it if the Data Processor is unwilling or unable to respond. Responses will be made within a reasonable time and in accordance with the Applicable Data Protection law.
3.4 The Data Controller will not require the Data Processor to process data in a manner governed by Article 37(1) of the GDPR without first giving express notice.
3.5 It will make available, upon request, a copy of this Data Processor Agreement to Data Subjects who are relevant to the processing, the subject matter of this Data Processor Agreement, unless this Data Processor Agreement contains confidential information, in which case it may redact such information. The Data Controller shall abide by a decision of the DPC regarding access to the full text of this Data Processor Agreement by Data Subjects, as long as Data Subjects have agreed to respect the confidentiality of the confidential information removed. The Data Controller shall also provide a copy of this Data Processor Agreement to the DPC where required.
OBLIGATIONS OF THE DATA PROCESSOR:
The Data Processor warrants and undertakes that:
4.1 It will comply with all applicable law including Applicable Data Protection law in its performance of this Agreement.
4.2 It will only process the Personal Data on the instructions of the Data Controller.
4.3 It will not appoint sub-processors to process the Personal Data on its behalf without the prior written approval of the Data Controller.
4.4 Once approved by the Data Controllers, sub-processors will only process the Personal Data on the instructions of the Data Processor and the Data Processor will put in place a legal agreement in writing to govern the sub-processing.
4.5 It will have in place appropriate technical and organizational measures, and all measures pursuant to Article 32 of the GDPR, to protect the confidentiality of the Personal Data and to protect the Personal Data against accidental or unlawful destruction or accidental loss, alteration, unauthorized disclosure or access, and which provide a level of security appropriate to the risk represented by the processing and the nature of the data to be protected.
4.6 It will obtain guarantees from any sub-processors processing the Personal Data, that they will have in place appropriate technical and organizational measures, and all measures pursuant to Article 32 of the GDPR, to protect the confidentiality of the Personal Data and to protect the Personal Data against accidental or unlawful destruction or accidental loss, alteration, unauthorized disclosure or access, and which provide a level of security appropriate to the risk represented by the processing and the nature of the data to be protected.
4.7 It will have in place procedures so that any individual party it authorizes to have access to the Personal Data, including employees of the Data Processor, will respect and maintain the confidentiality and security of the Personal Data. Any person acting under the authority of the Data Processor shall be obligated to process the Personal Data only on instructions from the Data Processor. This provision does not apply to persons authorized or required by law or regulation to have access to the Personal Data.
4.8 It will not disclose any Personal Data to a third party in any circumstances other than at the specific written request of the Data Controller, unless such disclosure is necessary to fulfil the obligations of the Agreement or is required by applicable law.
4.9 It will notify the Data Controller of any request for information by the DPC and will not disclose any Personal Data without the prior consent of the Data Controller.
4.10 It will notify the Data Controller of any complaint, notice or communication received which relates directly or indirectly to the processing of the Personal Data, or other connected activities, or which relates directly or indirectly to the compliance of the Data Processor and/or the Data Controller with relevant applicable law including Applicable Data Protection law.
4.11 It will give the Data Controller prompt notice of a Personal Data breach or a potential data breach, once becoming aware of same, and the Data Processor will cooperate with the Data Controller in implementing any appropriate action concerning the breach or the potential breach as the case may be, including corrective actions.
4.12 It will delete from its systems all soft copies of any Personal Data and delete all soft and hard copy documentation on the completion of the Agreement or on request from the Data Controller and will do so in a timely manner, giving a written confirmation of same having been done. The only exception to this shall be where the Data Processor shall have a legitimate reason, which is confirmed by the Data Controller, to continue to process particular data or where it is legally required to maintain data records.
4.13 Without prejudice to other legal provisions concerning the Data Subject’s right to compensation and the liability of the parties generally, as well as legal provisions concerning fines and penalties, the Data Processor will carry full liability in the instance where it or its sub-processor is found to have infringed applicable law including Applicable Data Protection law through his processing of the Personal Data.
4.14 The Licensee has no reason to believe, at the time of entering into this Agreement, of the existence of any reason that would have a substantial adverse effect on the guarantees provided for under this Agreement, and it will inform the Data Controller (which will pass such notification on to the DPC where required) if it becomes aware of any such reason.
4.15 The Licensee is authorized to respond to enquiries concerning processing of the Personal Data, and will cooperate in good faith with the Data Controller, the Data Subject and the DPC concerning all such enquiries within a reasonable time.
MINING LICENSE RESTRICTIONS
These License Type Restrictions (”Restrictions”) govern your use of the SXE Mining software (the “Software”), including all user manuals, technical manuals, and any other materials provided by Licensor, in printed, electronic, or other form, that describe the Software or its use or specifications (the “Documentation”) provided to you (”you” or “your”) for use pursuant to and subject to a software license agreement (the “Software License Agreement”) between SXE Network Operations, LLC (”Licensor”) and your employer or other person or entity who owns or otherwise lawfully controls the computer on which the Software is installed (”Licensee”).
T100 POWER MINING LICENSE
(i) The T100 Mining License must run the software from a Tier 1 (or higher) Certified Data Center and
(ii) be a validly registered business
T200 POWER MINING LICENSE
(i) The T200 Mining License must run the software from a Tier 2 (or higher) Certified Data Center and
(ii) be a validly registered business
T300 POWER MINING LICENSE
(i) The T300 Mining License must run the software from a Tier 3 (or higher) Certified Data Center and
(ii) be a validly registered business
T400 POWER MINING LICENSE
(i) The T400 Mining License must run the software from a Tier 4 Certified Data Center and
(ii) be a validly registered business
TERMS & CONDITIONS
PLEASE, READ THESE TERMS & CONDITIONS BEFORE USING THE WEBSITE.
These Terms and Conditions are entered into by and between You and Swiss Shakti Foundation ("Foundation", "we" or "us"). The following Terms and Conditions, together with any documents they expressly incorporate by reference (collectively, these "Terms & Conditions"), govern your access to and use of shakticoin.com, including any content, functionality and services offered on or through shakticoin.com and contributing partner’s site together, the "Website").
Please read the Terms & Conditions carefully before you start to use the Website. By using the Website or by clicking to accept or agree to the Terms & Conditions when this option is made available to you, you accept and agree to be bound and abide by these Terms & Conditions in addition to
This Website is offered and available to users who are 16 years of age or older for personal use only and not for commercial use. The Website is not intended for children under 16 years of age. By using this Website, you represent and warrant that you (i) are 16 years of age or older, (ii) are not barred to use the Website under any applicable law, and (iii) are using the Website only for your own personal use. If you do not meet these requirements, you must not access or use the Website.
CHANGES TO THE TERMS & CONDITIONS
We may revise and update these Terms & Conditions from time to time in our sole discretion. All changes are effective immediately from the moment we post them.
Your continued use of the Website following the posting of revised Terms & Conditions means that you accept and agree to the changes. You are expected to check this page frequently, so you are aware of any changes, as they are binding on you.
SHAKTICOIN AS A DIGITAL CURRENCY
Swiss Shakti Foundation offers the "Shakticoin", a digital currency (virtual currency), sells this or rights ("tokens") on it and provides services for the Shakticoin. The Shakticoins are scooped on the blockchain programmed by Swiss Shakti Foundation.
The Shakticoin is a pure arithmetic unit, it does not exist physically. The blockchain verifies and seals all transactions made with Shakticoins and thus ensures the correct allocation and recognition of the Shakticoins to the users of the services offered by the Foundation. You have no right to the release or storage of Shakticoins or equivalent as a matter.
The Shakticoin is a medium of exchange, but not money. You have no legal claim against any person or institution for payment of Shakticoins. The Foundation does not give anyone a right to convert Shakticoins into money. The Foundation also makes no representations or warranties regarding the value, the expectation of value and/or the value of the Shakticoins.
OPEN SOURCE SOFTWARE
The source code for the software we develop available for download is an open source software. You agree to be bound by, and comply with, any license agreement that applies to this open source software. You will not indicate that you are associated with us in connection with your use, modifications or distributions of this open source software.
When we host any software and enable you to access and use such software through our websites including this Website, then these terms will apply to such access and use, as well as any license agreements that we may enter into with you.
ACCESSING THE WEBSITE AND ACCOUNT SECURITY
We reserve the right to withdraw or amend this Website, and any service or material we provide on the Website, in our sole discretion without notice. We do not guarantee that our site or any content on it, will always be available or be interrupted. We will not be liable if for any reason all or any part of the Website is unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Website, or the entire Website, to users.
You are responsible for:
Making all arrangements necessary for you to have access to the Website.
Ensuring that all persons who access the Website through your internet connection are aware of these Terms & Conditions and comply with them.
You should use particular caution when inputting personal information on to the Website on a public or shared computer so that others are not able to view or record your personal information.
INTELLECTUAL PROPERTY RIGHTS
The Website and its entire contents, features and functionality (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection and arrangement thereof), are owned by the Foundation, its licensors or other providers of such material and are protected by copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws.
These Terms & Conditions permit you to use the Website for your personal, non-commercial use only. You must not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store or transmit any of the material on our Website, except as follows:
Your computer may temporarily store copies of such materials in RAM incidental to your accessing and viewing those materials.
You may store files that are automatically cached by your Web browser for display enhancement purposes.
You may print or download one copy of a reasonable number of pages of the Website for your own personal, non-commercial use and not for further reproduction, publication or distribution.
If we provide desktop, mobile or other applications for download, you may download a single copy to your computer or mobile device solely for your own personal, non-commercial use, provided you agree to be bound by our end user license agreement for such applications.
You must not:
Modify copies of any materials from this site.
Delete or alter any copyright, trademark or other proprietary rights notices from copies of materials from this site.
You must not access or use for any commercial purposes any part of the Website or any services or materials available through the Website.
If you wish to make any use of materials on the Website other than that set out in this section, please address your request to: .
If you print, copy, modify, download or otherwise use or provide any other person with access to any part of the Website in breach of the Terms & Conditions, your right to use the Website will cease immediately and you must, at our option, return or destroy any copies of the materials you have made. No right, title or interest in or to the Website or any content on the Website is transferred to you, and all rights not expressly granted are reserved by the Company. Any use of the Website not expressly permitted by these Terms & Conditions is a breach of these Terms & Conditions and may violate copyright, trademark and other laws.
The Foundation name, the terms shakticoin, Proof-of-Effort, PoE, the Foundation logo and all related names, logos, product and service names, designs and slogans are trademarks of the Foundation or its affiliates or licensors. You must not use such marks without the prior written permission of the Foundation. All other names, logos, product and service names, designs and slogans on this Website are the trademarks of their respective owners.
You may use the Website only for lawful purposes and in accordance with these Terms & Conditions. You agree not to use the Website:
In any way that violates any applicable federal, state, local or international law or regulation (including, without limitation, any laws regarding the export of data or software to and from Switzerland or other countries).
For the purpose of exploiting, harming or attempting to exploit or harm minors in any way by exposing them to inappropriate content, asking for personally identifiable information or otherwise.
To send, knowingly receive, upload, download, use or re-use any material which does not comply with these Terms & Conditions.
To transmit, or procure the sending of, any advertising or promotional material without our prior written consent, including any "junk mail", "chain letter" or "spam" or any other similar solicitation.
To impersonate or attempt to impersonate the Foundation, Foundation’s employee, another user or any other person or entity (including, without limitation, by using e-mail addresses or screen names associated with any of the foregoing).
To engage in any other conduct that restricts or inhibits anyone's use or enjoyment of the Website, or which, as determined by us, may harm the Foundation or users of the Website or expose them to liability.
Additionally, you agree not to:
Use the Website in any manner that could disable, overburden, damage, or impair the site or interfere with any other party's use of the Website, including their ability to engage in real time activities through the Website.
Use any robot, spider or other automatic device, process or means to access the Website for any purpose, including monitoring or copying any of the material on the Website.
Use any manual process to monitor or copy any of the material on the Website or for any other unauthorized purpose without our prior written consent.
Use any device, software or routine that interferes with the proper working of the Website.
Introduce any viruses, trojan horses, worms, logic bombs or other material which is malicious or technologically harmful.
Attempt to gain unauthorized access to, interfere with, damage or disrupt any parts of the Website, the server on which the Website is stored, or any server, computer or database connected to the Website.
Attack the Website via a denial-of-service attack or a distributed denial-of-service attack.
Otherwise attempt to interfere with the proper working of the Website.
RELIANCE ON INFORMATION POSTED
The information presented on or through the Website is made available solely for general information purposes. We do not warrant the accuracy, completeness or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Website, or by anyone who may be informed of any of its contents.
This Website includes content provided by third parties, including materials provided by other users, bloggers and third-party licensors, syndicators, aggregators and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Foundation, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Foundation. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.
CHANGES TO THE WEBSITE
We may update the content on this Website from time to time, but its content is not necessarily complete or up-to-date. Any of the material on the Website may be out of date at any given time, and we are under no obligation to update such material.
INFORMATION ABOUT YOU AND YOUR VISITS TO THE WEBSITE
LINKING TO THE WEBSITE AND SOCIAL MEDIA FEATURES
You may link to our homepage, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part without our express written consent.
LINKS FROM THE WEBSITE
If the Website contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third party websites linked to this Website, you do so entirely at your own risk and subject to the terms and conditions of use for such websites. We reserve the right to withdraw linking permission without notice.
The owner of the Website is based in Switzerland. We make no claims that the Website or any of its content is accessible or appropriate outside of Switzerland. Access to the Website may not be legal by certain persons or in certain countries. If you access the Website from outside Switzerland, you do so on your own initiative and are responsible for compliance with local laws.
WARRANTY, LIABILITY AND INDEMNITY
You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the Website will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining means external to our site for any reconstruction of any lost data. WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.
YOUR USE OF THE WEBSITE, ITS CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE IS AT YOUR OWN RISK. THE WEBSITE, ITS CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY OR AVAILABILITY OF THE WEBSITE. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE WEBSITE, ITS CONTENT OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL BE ACCURATE, RELIABLE, ERROR-FREE OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.
THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR PARTICULAR PURPOSE.
SOME JURISDICTIONS DO NOT ALLOW EXCLUSION OF WARRIANTIES OR LIMITATIONS ON THE DURATION OF IMPLIED WARRANTIES, SO THE ABOVE DISCLAIMER MAY NOT APPLY TO YOU IN THEIR ENTIRETIES, BUT WILL APPLY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW.
IN NO EVENT WILL THE COMPANY, ITS AFFILIATES OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE WEBSITE, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE WEBSITE OR SUCH OTHER WEBSITES OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR SUCH OTHER WEBSITES, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT OR OTHERWISE, EVEN IF FORESEEABLE. THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW WHICH MAY INCLUDE FRAUD.
You agree to defend, indemnify and hold harmless the Foundation, its affiliates, licensors and service providers, and its and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses or fees (including reasonable attorneys' fees) arising out of or relating to your violation of these Terms & Conditions or your use of the Website, including, but not limited to, any use of the Website's content, services and products other than as expressly authorized in these Terms & Conditions or your use of any information obtained from the Website.
GOVERNING LAW AND JURISDICTION
All matters relating to the Website and these Terms & Conditions and any dispute or claim arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be governed by and construed in accordance with the internal laws of Switzerland without giving effect to any choice or conflict of law provision or rule (whether of Switzerland or any other jurisdiction).
Any legal suit, action or proceeding arising out of, or related to, these Terms & Conditions or the Website shall be instituted exclusively in the Switzerland in the Kanton of Zug although we retain the right to bring any suit, action or proceeding against you for breach of these Terms & Conditions in your country of residence or any other relevant country. You waive any and all objections to the exercise of jurisdiction over you by such courts and to venue in such courts.
WAIVER AND SEVERABILITY
No waiver of by the Foundation of any term or condition set forth in these Terms & Conditions shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of the Foundation to assert a right or provision under these Terms & Conditions shall not constitute a waiver of such right or provision.
If any provision of these Terms & Conditions is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Terms & Conditions will continue in full force and effect.
COMMENTS AND CONCERNS
This Website is operated by the Foundation. All other feedback, comments, requests for technical support and other communications relating to the Website should be directed to:.
Last modified: Jan 13th, 2019
WHO ARE WE AND WHAT DO WE DO?
The Site is operated by Swiss Shakti Foundation in Zug, Switzerland.
Swiss Shakti Foundation, in Zug, Switzerland (the "Foundation," "we" or "us") is committed to protecting, respecting your privacy and preventing unauthorized use. The Swiss Shakti Foundation aids families around the world to further their education by way of providing self-propagating incentives with digital currencies through digital wallets payment and services primarily for consumers and commercial enterprises.
The data controller responsible for your personal information processed in relation to the Services provided from our Swiss office is the Secretariat of the Foundation (“Swiss Shakti Foundation”, “we”, “us” or “our”). Swiss Shakti Foundation office in the Zug is at: Park Résidence, Industriestrasse 24, CH-6300 Zug, Switzerland.
PURPOSE OF THIS POLICY
the nature of the personal information about you that is processed by us;
your rights in respect of our processing of your personal information; and
how you can request that we delete, update, transfer and/or provide you with access to it.
INFORMATION WE COLLECT FROM YOU
As part of our business operations, we routinely collect and retain information about our clients. This information is necessary for us to be able to provide our services or provide information about our services and company.
Throughout this Policy, we use the term "personal information" to describe information that identifies you or makes you identifiable. We do not consider personal information to include information that has been anonymized so that it does not identify a specific individual.
We will collect and process the following data about you:
Information you give us. This is information about you that you give us by filling in forms on our sites: https://www.shakticoin.com and contributing partner’s site (each a “site” and together, our “sites”) or by corresponding with us by phone, e-mail or otherwise. It includes information you provide when you register to use our sites, manage your wallet, participate in discussion boards or other social media functions on our sites, and when you contact us on our sites and when you report a problem with our sites. The information you give us may include your name, address, e-mail address, phone number, web site Uniform Resource Locator (URL), financial and credit card information, personal description, and free-form text.
Information we collect about you. With regard to each of your visits to our sites we will automatically collect the following information:
information about your visit, including the full Uniform Resource Locator (URL), download errors, length of visits to certain pages.
technical information, including the Internet protocol (IP) address used to connect your computer to the Internet, browser type and version, time zone setting, browser plug-in types and versions, operating system, and platform.
Due to the unique nature of Swiss Shakti Foundation’s objective and its activities, we will need to collect and use some children’s personal information. Thus, we are going to require the consent of the parent or guardian of children under 16 in order to process your child’s personal data.
USES MADE OF THE INFORMATION
We use information held about you in the following ways:
Information you give to us. We will use this information:
to ensure that content from our sites is presented in the most effective manner for you and for your computer.
to notify you about changes to our service;
to carry out our obligations arising from any contracts entered into between you and us, and to provide you with the information, products and services that you request from us;
Information we collect about you. We will use this information:
as part of our efforts to keep our site safe and secure;
to allow you to participate in interactive features of our service, when you choose to do so;
to improve our site to ensure that content is presented in the most effective manner for you and for your computer;
to administer our sites and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
Information we receive from other sources. We will combine this information with information you give to us and information we collect about you. We will use this information and the combined information for the purposes set out above (depending on the types of information we receive).
DISCLOSURE OF YOUR INFORMATION
From time to time, Swiss Shakti Foundation may disclose your Personal data to:
service providers, including an organization or individual retained by Swiss Shakti Foundation to perform functions on its behalf, such as marketing, data processing, document management and office services;
an organization or individual retained by Swiss Shakti Foundation to evaluate your creditworthiness or to collect debts outstanding on an account;
a financial institution, on a confidential basis and solely in connection with the assignment of a right to receive payment, the provision of security or other financing arrangements; or
a person who, in the reasonable judgment of Swiss Shakti Foundation, is providing or seeking the information as your agent;
to our insurers and to regulatory agencies such as, Swiss Supervisory Authority of Foundations under Article 88 of the Civil Code, or others in connection with regulatory or other activities relating to the obligations of Swiss Shakti Foundation and its practice of Charitable organizations in Switzerland;
to personnel in Swiss Shakti Foundation, government authorities, insurers, benefits providers, consultants or agents as reasonably required to establish, manage or terminate employment, contractual and partnership relationships; and
any third party or parties, where you consent to such disclosure or where disclosure is required or permitted by law.
You have the right to ask us not to process your personal data for marketing purposes. We will usually inform you (before collecting your data) if we intend to use your data for such purposes or if we intend to disclose your information to any third party for such purposes. You can exercise your right to prevent such processing by checking certain boxes on the forms we use to collect your data. You can also exercise the right at any time by contacting us at .
Our sites may, from time to time, contain links to and from the websites of our partner networks, sponsors and affiliates. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.
You have the following rights in relation to the personal information we hold about you. Please note that these rights are subject to certain exemptions which may be applicable to any request you make.
Your right of access
If you ask us, we’ll confirm whether we’re processing your personal information and, subject to any applicable exemptions, provide you with a copy of that personal information (along with certain other details) within the timescales or extended timescales provided for by the GDPR for complex requests, or where applicable, provide you with an explanation as to why we will not be complying with your request. If you require additional copies, we may need to charge a reasonable fee.
Your right to rectification
If the personal information we hold about you is inaccurate or incomplete, you’re entitled to have it rectified. If you are entitled to rectification and if we’ve shared your personal information with others, we’ll let them know about the rectification where possible and where this would not involve disproportionate effort. If you ask us, where possible and lawful to do so, we’ll also tell you who we’ve shared your personal information with so that you can contact them directly.
Your right to erasure
You can ask us to delete or remove your personal information in some circumstances such as where we no longer need it or if you withdraw your consent (where applicable because that was the legal basis on which we were processing your personal information). If you are entitled to erasure and if we’ve shared your personal information with others, we’ll take reasonable steps to inform those others where possible and where this would not involve disproportionate effort. If you ask us, where it is possible and lawful for us to do so, we’ll also tell you who we’ve shared your personal information with so that you can contact them directly.
Your right to restrict processing
You can ask us to “block” or suppress the processing of your personal information in certain circumstances such as where you contest the accuracy of that personal information or you object to us. If you are entitled to restriction and if we’ve shared your personal information with others, we’ll let them know about the restriction where it is possible for us to do so. If you ask us, where it is possible and lawful for us to do so, we’ll also tell you who we’ve shared your personal information with so that you can contact them directly.
Your right to data portability
You have the right, in certain circumstances, to obtain personal information you’ve provided us with (in a structured, commonly used and machine readable format) and to reuse it elsewhere or to ask us to transfer this to a third party of your choice.
Your right to object
You can ask us to stop processing your personal information, and we will do so, if we are:
relying on our own or someone else’s legitimate interests to process your personal information, except if we can demonstrate compelling legal grounds for the processing; or
processing your personal information for direct marketing.
Your rights in relation to automated decision-making and profiling
You have the right not to be subject to a decision when it’s based on automatic processing, including profiling, if it produces a legal effect or similarly significantly affects you, unless such profiling is necessary for entering into, or the performance of, a contract between you and us.
Your right to withdraw consent
If we rely on your consent (or explicit consent) as our legal basis for processing your personal information, you have the right to withdraw that consent at any time.
Your right to lodge a complaint with the supervisory authority
If you have a concern about any aspect of Swiss Shakti Foundation’s privacy practices, including the way we’ve handled your personal information, you can report it to Swiss Financial Market Supervisory Authority FINMA (“FINMA”) . You can find details about how to do this on the FINMA website at https://www.finma.ch/en/finma-public/reporting-information/ or by calling their office on +41 31 327 91 00.
If you want to exercise any of these rights you can do so by contacting us.
WHERE WE STORE YOUR PERSONAL DATA AND HOW LONG DO WE KEEP IT?
All information you provide to us is stored on our secure servers. Any web-based payment transactions will be encrypted using SSL technology.
Regarding personal information we have processed as part of providing the Services to you, we will retain relevant personal information for at least six years from the date of our last interaction with you and in compliance with our obligations under the EU General Data Protection Regulation (or similar legislation around the world) or for longer where we are required to do so according to our regulatory obligations or professional indemnity obligations.
HOW DO WE PROTECT YOUR PERSONAL DATA?
The purpose of the Swiss Data Protection Act is to protect the privacy, interests and fundamental rights of data subjects. Furthermore, it has as its central goal the maintenance of good data file practice and the facilitation of international data exchange by providing a comparable level of protection. The SDPA is very wide in its scope and applies to personal data file activities carried out by Federal authorities, private organizations and individual private persons (excluding those for normal private purposes).
The SDPA regulates the cross-border transfer of data in cases requiring protection of privacy. Transfers may be prohibited if, for example, the recipient's country cannot provide an adequate level of data protection. Both private individuals and federal bodies that may be involved in cross-border data disclosure are subject to the duty of due care. The transfer of data files abroad has to be notified in the event of a lack of adequate protection. In the absence of such protection, data may only be disclosed abroad if other safeguards, in particular contractual clauses or rules for the same legal person are in place to guarantee protection. The FDPIC must be informed of such clauses and rules. Furthermore, the consent of the person concerned, the impending conclusion or performance of a contract to which the person concerned is party, or the protection of the data subject or any overriding public interests can justify the disclosure of personal data abroad (cf. Art. 6 DPA).
Following an Opinion of the Federal Data Protection and Information Commissioner (2006) regarding the responsibility of financial service providers, Swiss-based providers have to carry out specific due diligence when processing personal data. “When a payment transaction is effected via a financial institution, the payer and the payee must be known. If a financial service provider in Switzerland participates in a payment transaction, it may be assumed that this will involve the processing of personal data within the meaning of the Swiss Data Protection Act (Article 3, letters a and e of the DPA). Thus, the financial service provider is subject to the same duties the Data Protection Act applies to private individuals“ (DPA and the Ordinance relating to the Data Protection Act –VDSG).
Swiss Shakti Foundation takes reasonable precautions to protect your personal information from loss, misuse, unauthorized access, disclosure, alteration, and destruction. We maintain physical, technical and procedural safeguards to protect the confidentiality and security of your personal information. Such safeguards include the use of firewalls and data encryption, enforcing physical access controls to our buildings and files, and limiting access to personal information only to those employees, agents or third parties who need access to that information to process it for us. We contractually require all third-party service providers to maintain appropriate security measures to protect your personal information.
However, you are also responsible for keeping your personal information confidential and secure. Swiss Shakti Foundation cannot guarantee that your personal information will be 100% safe while using its Services. You should choose a password that is complex (e.g., special characters and numbers, sufficient length, etc.) and keep your password confidential. Do not leave your device unlocked so that other individuals may access your device or Shakticoin.com account. Swiss Shakti Foundation is not in control of your wireless connection or the devices you use to log into the Shakticoin.com Services, so you should make sure you trust the devices and connections you use to access the Services.
If you believe that you have experienced unauthorized access or use of your Shakticoin.com account, please contact us immediately at @shakticoin.com.
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Temporarily store input information in our calculators, tools, illustrations and demonstrations
Provide you with ads that are more relevant to you and your interests, and improve our targeting and enhance your journey through our sites and partner sites
Improve our understanding of how you navigate through our sites so we can identify improvements
Evaluate our sites' advertising and promotional effectiveness (we own the anonymous data collected and don't share it with anyone); and
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The laws of Switzerland applicable therein shall govern use of this website and the interpretation, validity and effect of this agreement, notwithstanding any conflict of laws, provisions or your domicile, residence or physical location. You hereby consent and submit to the exclusive jurisdiction of the courts of Zug, Switzerland in any action or proceeding related to this website and agree not to commence any such action or proceeding except in Zug, Switzerland.
Copyright © 2018 Swiss Shakti Foundation LLP. All rights reserved. The Swiss Shakti Foundation website contains information, communication, software (including program code that may execute on the server or that may be embedded in or downloadable from individual pages on this site), images, sounds, music, graphics, photos, videos and other materials and services (collectively, the "Content").
You agree that the Content and the selection, arrangement, architecture and enhancement of the Content and other website features (the "Website Design") are protected by Swiss and international intellectual and industrial property rights, including copyrights, trade-marks and other proprietary rights. These rights are valid and protected in all media existing now or later developed, and all use of the Content or Website Design shall be in accordance with such rights and the terms of this agreement.
Users of this website are granted a limited license to display or print its content for their own personal non-commercial use, provided the Content is not modified. Any other use of the Content or the Website Design is prohibited. The Content and Website Design may not be otherwise reproduced, republished or re-disseminated in any matter or form without the prior written consent of Swiss Shakti Foundation.
Last modified: Jan 14th, 2019.
The type of cookie used on this website can be put into 1 of 4 categories, based on the International Chamber of Commerce guide to cookie categories: Strictly Necessary, Performance, Functionality & Profile and Targeting.
1. Strictly Necessary Cookies
These cookies are essential, as they ensure your security and privacy when you use our secure sites, as well as enabling you to move around a website and use its features. Without these cookies, services you've asked for (such as access to secure areas) can't be provided. These cookies don't gather information about you that could be used for marketing or remembering where you've been on the internet.
This category cannot be disabled.
2. Performance Cookies
In most cases, the information these cookies collect is anonymous and is only used to improve how a website works and to help us to identify issues you may have when using our online services. In limited cases for online banking issues, these cookies enable us to identify specific issues you may have had.
These cookies are not used to target you with online advertising. Without these cookies we can't learn how our website is performing and make relevant improvements that could better your browsing experience.
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These cookies allow a website to remember choices you make (such as your username, language or the region you're in) and tailor the website to provide enhanced features and content for you. For instance, they can be used to remember login details, changes you've made to text size, font and other parts of pages that you can customize. They may also be used to provide services you've asked for, such as watching a video or commenting on a blog.
These cookies may be used to ensure that all our services and communications are relevant to you. The information these cookies collect cannot track your browsing activity on other websites. Without these cookies, a website cannot remember choices you've previously made or personalize your browsing experience.
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Without these cookies, online advertisements you encounter will be less relevant to you and your interests.
Setting your cookie preferences
You can control how cookies are placed on your device either via Your Cookies Settings on this website or from within your own browser.
What happens to cookies that have been downloaded in the past?
If you've disabled one or more cookie categories, we may still use information collected from existing cookies, but we'll stop using the disabled cookies to gather any further information. You can delete existing cookies from your browser.
A limited number of mining slots have been allocated per location globally.
This is to ensure that global mining of Shakti Coin is not monopolized by any one region, organization or individual. Don't worry there will be enough to go around ;)
Our goal is to avoid an ICO and fund the launch of Shakti Coin within our own community of miners.
Mining Shakti Coin is cooperative and inclusive. Individuals can verify Proof of Effort as well as other transactions and receive mining payments using a personal computer. For those with greater computing power, we offer a range of mining options.
The Shakti Network Software is today capable of processing 10,000 transactions per second and we expect to grow that by a factor of ten as the network expands. Each of these transactions will need to be verified by a Shakti Coin Miner who will receive a payment for the verification. Only registered Shakti Coin Miners will be able to validate Shakti transactions and collect mining fees.
Mining is open to anyone with a reasonably up-to-date personal computer (PC or Mac) and internet access (see mining terms and conditions for exact technical requirements). Options are also available for more technically advanced miners. However, the number of slots will be limited by region. Pre-Registering as a Shakti Coin Miner now will ensure your mining rights once Shakti Coin launches.
The fee required to register as a miner is offset by a bounty equal to many times the registration fee. All mining fees collected will be used to launch Shakti Coin. The more we raise the faster that will happen.
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