RULES OF INITIAL COIN offering for the Project BLOCKCHAIN HOTELS
Paragraph – Definitions
- White Paper – documentation describing the main objectives of the Project, which constitutes Appendix 2.
- Innovasis Hotels- [Innovation Hotels Chain Suite 925a, Block 8/9 Europort, Gibraltar].
- Hotel – A hotel created in the project described herein .
- ICO – Initial Coin Offering, a process involving the issuance of Tokens and enabling. Users to acquire them through the Website, aimed in particular at obtaining. Innovasis Hotels funds allowing for the implementation of the Project.
- Consumer – a person who is a consumer under the provisions of the Directive of the European Parliament and of the Council 2011/83 / EU.
- Account – An online software accessed by Users via Innovasis Hotels online website, herein also referred to as the “Dashboard” software, which allows the User, identified by a specific unique name, to use all functions available to him on the Website, including obtaining the address of the cryptocurrency wallet for the deposit..
- KYC procedure – a procedure for identifying the User by Innovasis Hotels, in order to allow him to purchase Tokens.
- The project – a project of creating a hotel chain by Innovasis Hotels, in accordance with the assumptions presented in the White Paper..
- Regulations – these regulations.
- Service – an Internet service (also herein referred to as “Dashboard” or “Dashboard software”) run by Innovasis Hotels, available at https://innovasishotels.com, enabling Users to become acquainted with the Project, to purchase Tokens as part of the ICO, and to perform other actions herein described.
- Hotel Token or Hotel Coin – a cryptocurrency token operating under the name Hotel Coin, such being a digital content issued by ICO through Innovasis Hotels via the Ethereum platform, intended for purchase by Users under the ICO.
- Agreement -agreement between a User and Innovasis Hotels based on these Regulations, under which Innovasis Hotels sells digital content to the User in the form of Tokens (providing service).
- Service – A service provided by Innovasis Hotels under the Agreement for the benefit of Users, consisting of a paid transfer of a specified number of Tokens to a User on the cryptocurrency portfolio assigned to the User.
- User – a natural person, legal person or entity that uses the Service.
Paragraph 2 – Contact details and Communications
- Postal address: [Innovation Hotels Chain Suite 925a, Block 8/9 Europort, Gibraltar]
- E-mail address: [email protected]
- Innovasis Hotels communicates with Users in English.
- The basic form of communication between Innovasis Hotels and Users iselectronically, via email.
Paragraph 3 – General Provisions
- Regulations: This document describes a service provided electronically by Innovasis Hotels.
- Pursuant to the Regulations, Innovasis Hotels provides to the Users, as part of the Service provided to the User, an Additional Service and Account maintenance service.
Paragraph 4 – Use
- The User pays fees for access to the Internet in accordance with the tariffs of their telecom operator.
- The User is obliged to use the Website and services in accordance with the law and the principles of social coexistence. In particular, this means no delivery of any type of illegal content by the User.
Paragraph 5 – Registration in the Service
- In order to use all the features of the Service, including to purchase Token, the User must register on the Website, ie. perform an Account setup.
- Registration is done by specifying information about the User in accordance with the guidance provided by the Service, in the correct format.
- Any User posting the data on the Website declares that they are honest and consistent with the facts.
- Innovasis Hotels will send to the the e-mail address provided by the User during the registration process a notification of the receipt of the registration application with an activation link.
- In the absence of activation of the User account within 48 hours of sending the notification, the notification will be sent again. If a User does not confirm the registration of the Service within 24 hours of sending the notification for re- registration, the User’s application will be canceled.
The confirmation of registration on the Website by the User concludes contract services through the Service between said User and Innovasis Hotels, including keeping accounts for an indefinite period, as pertaining to the terms specified in the Regulations.
Paragraph – 6 ICO
- The ICO will take place in stages as per the terms specified in the Regulations, in particular in this paragraph of the Regulations, and in the White Paper.
- Tokens purchased shall be the exclusive property of specific identified Users, ie. Those Users who have passed the KYC procedure. The objective of KYC procedure may in particular be to counteract money laundering and the financing of terrorism.
- The KYC procedure is to identify and verify the identity of the User, in particular by having the User provide the following:
- E-mail address,
- Prove of address
- Photo ID card or passport – because of European regulations regarding antimoney laundering and terrorist financing – in order to verify the User’s identity.
- The ICO will create the possibility for the total of Users to purchase 245 million Tokens.
- The ICO will be divided into 4 stages.
- Stage II and Stage III will begin at the close of the preceding stages by fulfilling all the measures envisaged in each previous stage, but the closing of each stage will take place no later than 7 days after its opening.
- If at any stage not all of the ICO Tokens available for sale are purchased, theremaining portion will be able to be allocated for purchase in the next stage of theICO at a price available in the next stage.
- The ICO will begin within the period specified in the White Paper.
- Innovasis Hotels will prepare a report on the project every quarter for the duration of the Project – provided that the project will be able to be implemented by the ICO.
- Part of the funds obtained by Innovasis Hotels under ICO may be earmarked for Innovasis Hotels to purchase a certain number of Tokens.
- The distribution of Tokens and their further trading takes place within the infrastructure provided by the Ethereum platform, based on Blockchain technology.
- For the avoidance of doubt, Innovasis Hotels emphasizes that the subject of the Agreement concluded between Innovasis Hotels and the User, within the ICO, is only to provide the User with Token(s), and in the cases specified in the Regulations, granting the User a right under the Special Service, this means in particular that the subject of the Agreement is not is the implementation of the Project or the construction of any Hotel.
- Before acquiring the first Token, the User should create Ethereum Wallet using for example service myetherwallet.com – dedicated to storing Hotel Coins tokens.
- Any trading of tokens made by the User within the blockchain network is possible only after the Token is released (around 3 weeks after ICO finishes) this means that by that time, the trading of tokens within the blockchain network remains frozen and no transactions will be recorded there regarding the transfer of Tokens between cryptocurrency portfolios.
- Innovasis Hotels does not guarantee and does not ensure the value of the Token, in particular Innovasis Hotels does not assure the User that further trading in Tokens will be possible under any cryptocurrency exchange, with the proviso that Innovasis Hotels will endeavor to enable Users to trade.
- The current Token owner that has equivalent of 1000$ worth of Hotel Coins the right to participate in the development of the Project through participation in voting on subsequent locations of the Hotels. During the implementation of the Project, Innovasis Hotels may also foresee other forms of codecision on the goals of the Project, about which Users will be informed on the Website.
- The Token, subject to the rights resulting from the Special Service, does not give the User any rights to the Project, a Hotel or Innovasis Hotels. In particular, Tokens do not grant the right to shares in the Hotel, rights to profits from the Hotel or rights to shares or profits Innovasis Hotels.
Paragraph 8 Token Purchase
- In order to purchase a Token, the User should register on the Website in accordance with the provisions of Paragraph 5 and also successfully pass the KYC Procedure.
- A single User may purchase any number of Tokens available in the given ICO stage not more that 500k USD.
- During ICO, the User can buy a Token using BTC (Bitcoin) and ETH (Ethereum), Dash, Bitcoin Cash and Litecoin.
- The price of one Token given on the Website will be expressed in USD, BTC or ETH, and Innovasis Hotels may also provide on the Website an approximate price converted into a different currency or cryptocurrency based on the rate of the selected cryptocurrency exchange, subject to the price expressed in USD, BTC or ETH.
- The User selects the number of requested Tokens on the Website and determines the form in which he intends to make the payment.
- The User may pay for the Tokens purchased by transferring the appropriate amount expressed in the given cryptocurrency to the cryptocurrency portfolio indicated on the Website.
- The contract is concluded under the condition of payment for the Tokens purchased within the immediate period from placing the order, as well as the positive passing of the KYC Procedure by the User – including verification of the User after making the payment referred to in paragraph 6. If, despite the transfer of the price for Tokens by the User, the Agreement is not concluded, BlockChain Hotels will immediately return the BTC or ETH paid to the User.
- The User may receive a Token for the cryptocurrency portfolio indicated by him after selecting the appropriate option on the Website, within 72 hours of posting funds by Innovasis Hotels on the appropriate cryptocurrency portfolio.
Paragraph 9 – Disclaimer
- Due to the nature of ICO and the uncertainty of achieving the result assumed by Innovasis Hotels, Innovasis Hotels points out that Innovasis Hotels’ obligations towards the User under the Agreement include only the transfer of tokens purchased by the User. This means in particular that Innovasis Hotels can not guarantee that the ICO will be used to implement the Project, and if the Project is not implemented, the User will not be entitled to any claims related to the fact that the Project has not been implemented, including the failure to build the Hotel.
- Innovasis Hotels points out that the project concept described in the White Paper is based on assumptions about the future, which entails the risk of unforeseen events and, as a consequence, the possibility of project failure even if necessary resources are collected or Innovasis Hotels changes the business concepts related to the project.
- Innovasis Hotels points out that Tokens do not correspond to Innovasis Hotels shares or share and do not have the right to participate in the benefits of BlockChain Hotels or any other rights that may arise from the shares. Tokens are also not securities and are not intended to fulfill this function.
- By using Innovasis Hotels services or by making any other trading in the Token, the User should take into account any risks associated with it, in particular the risk of a sudden change in the valuation or lack of supervision of Tokens and cryptocurrencies from public administration bodies.
- As part of the services offered, Innovasis Hotels does not provide any services or consultancy regarding the trading of cryptocurrency and tokens by the User.
- Innovasis Hotels activity in relation to the services offered does not constitute a payment service (within the meaning of the PSD2 Directive, i.e. Directive […]), investment advisory services or investment activities (within the meaning of the MIFID Directive, i.e. Directive […]), or any other activity regulated within the meaning of specific Swiss, Gibraltar US, or European Union regulations.
- Due to the nature of the Innovasis Hotels services, all Users of Innovasis Hotels are excluded from Users who are not also Consumers, and if in accordance with applicable law such limitation is not possible, this liability is limited to the maximum permitted by law. In the case of Users being Consumers, the parties are responsible to each other on general terms, but unless it violates the mandatory provisions applicable to any given Consumer law (including no unlawful contractual provisions), the parties’ liability to each other is limited to the price for which the User has purchased Tokens in the transaction that is the basis of the site’s functional liability.
- Users liability and Innovasis Hotels for lost profits are excluded.
- BlockChain Hotels as part of its activities, including the Website, does not provide consulting services – in particular services related to investment consulting.
- Tokens may not be available for purchase in some countries due to the fact that Innovasis Hotels must respect the legal requirements of these countries, in particular Users from the People’s Republic of China or South Korea, USA should refrain from purchasing Tokens.
- Innovasis Hotels is not responsible for the security of transactions made with the use of Tokens between Users and third parties. In particular, Innovasis Hotels shall not be liable for the actions of Users and third parties on which Innovasis Hotels has no influence – especially for attempts of fraud or frauds, as well as misleading information by Users or third parties who are beyond the influence of Innovasis Hotels.
- Innovasis Hotels points out that cryptocurrencies are not a means of payment, and with each transaction of cryptocurrencies there is a special risk of losing money. Before performing transactions related to cryptocurrencies, the User should make his own transaction risk assessment.
Paragraph 10 Complaints
- Complaints may be submitted by the User electronically to the following e-mail address: [email protected]
- The complaint should contain a description of the objections raised and the person lodging the complaint, in a manner enabling Innovasis Hotels to identify it (eg by indicating the User’s name or e-mail address used on the Website and Dashboard).
- Innovasis Hotels reviews complaints immediately, no later than within 30 days of receipt. In the case of Users who are Consumers – no response to the complaint is considered its recognition.
- Innovasis Hotels provides the answer to the complaint on a durable medium, in particular via e-mail.
- If the complaint needs to be completed – Innovasis Hotels asks the User to complete it.
- The complaint procedure does not exclude the User’s rights, in particular being a Consumer, to which he is entitled to under any applicable law. The User being a Consumer has the right to use extrajudicial methods of pursuing claims, in particular:
- 6.1. Permanent Consumer Arbitration Courts at Provincial Inspectorates of the Trade Inspection (for Users from Poland);
- 6.2. Municipal (poviat) Consumer Ombudsman (for Users from Poland);
- 6.3. Other bodies competent for a given State of the European Union for out-of-court redress;
- In relation to entities that are not consumers – within the maximum permitted by law – any liability of Innovasis Hotels is excluded.
- None of the provisions of these Regulations exclude or limit the rights of the Consumer under the law.
Paragraph 11 – Personal Data
- The administrator of the User’s personal data is BlockChain Hotels.
- The User’s personal data are processed on the basis of article 6 paragraph 1 point b and c of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data and repeal of Directive 95/46 / EC – the general regulation on protection data.
- The User’s personal data are processed in order to perform the concluded contract and for statistical purposes, and if the User has given his consent or there is another reason for processing for marketing purposes.
- Providing data is voluntary, but necessary for the proper implementation of the contract between Blockchain Hotels and the User. In the absence of data, it will be impossible to conclude this agreement.
- The User’s data will be transferred to the following external entities:
- hosting providers – to store data on a secure server;
- to the entity providing the mailing system and database – in order to efficiently send messages to Users;
- to the entity facilitating the optimization of the Website – in order to analyze the User’s traffic on the Website and adjust the Website to the needs of Users;
- to the entity providing marketing services – to integrate the Website with marketing services.
- In connection with the above, the User’s data will be processed outside the European Union. The appropriate level of data protection of the User, including through the use of appropriate safeguards, ensures participation of these entities in the EU-US Privacy Shield established by the European Commission’s implementing a decision as a set of rules guaranteeing adequate protection of privacy.
- The entities referred to in paragraph 6, at the User’s request, which will provide him with a copy of his data, processed as part of his services.
- The Users’ data will be processed until the possibility of pursuing possible claims by the parties ceases or until the termination of the legal obligation (including the obligation resulting from identification and verification of the User to counteract money laundering or terrorism financing) is removed from BlockChain Hotels. Depending on which of the above events occurs later; in the case of Users that only have a contract referred to in paragraph 5 or paragraph 6, the User’s data will be processed until he deletes the Account.
- The User has the right to:
- access to the content of their personal data,
- correct their personal data,
- delete their personal data,
- request a limit of the processing of their data,
- object to the processing of their data,
- request the transfer their personal data.
- In order to implement the above rights, a User must send an email to: [email protected]
- In the event that the User considers that his data is being processed unlawfully, he has the right to submit a complaint to the appropriate supervisory authority.
Paragraph 12 – Agreement Validity And Change
- Agreements between the User and Innovasis Hotels are concluded based on these Regulations via the Website. The termination of contracts is also made through the Website.
- The User may terminate the contract for the provision of electronic services with immediate effect on the Website without giving a reason for the termination.
- In the case of Users who are not Consumers, the applicable law in matters related to the Regulations (including those provided with services) is International law. In the case of Users who are Consumers, International law is applicable, however the choice of international law is made without prejudice to the protection that the mandatory provisions of the law of the country of their habitual residence provide to consumers, as well as European or other law applicable to the consumer – in accordance with the provisions of the Ordinance of the European Parliament European Parliament and Council Regulation (EC) No 593/2008 of 17 June 2008 regarding the law applicable to contractual obligations (Rome I Regulation), this means in particular that if a consumer-specific national law provides for wider protection than that resulting from this Regulations, this protection is applied broader.
- If any of the provisions of these Regulations would lead to limitation of the Consumer’s rights under applicable mandatory provisions of law (including those applicable under the Rome I Regulation), the use of which in relation to the Consumer can not be limited or excluded – in relation to the User being a Consumer these provisions of the Regulations shall not apply.
- Innovasis Hotels is entitled to change these Terms and Conditions (including those concluded on the basis of contracts, in terms of the Special Services or Fractional Ownership) only for important reasons, referred to in paragraph 5, which shall be provided with prior notification to the User of the planned changes, by e-mail at least 7 days prior to the proposed change.
- Important reasons for terminating or amending the Regulations or agreements are:
- adaptation of services or the Website to legal provisions affecting them; change or appearance of new public-legal fees affecting the provision of services;
- improving the functionality of services or activities aimed at increasing the competitiveness of services;
- improving the security of services provided;
- Recommendations or other types of applications from public administration bodies, in particular financial markets supervisory authorities such as the EBA or competent national authorities.
- changes in the costs of services provided by external suppliers, maintenance costs and infrastructure maintenance in the scope used in the provision of services.
- The User’s objection to the proposed changes is tantamount to consenting to them.
- The User has the right to terminate the contract before the proposed date of entry into force of the changes with immediate effect, without incurring fees.
- If the User objects to the proposed changes, but does not terminate, the contract expires on the day preceding the entry into force of the proposed changes.
- The Agreement or the Special Agreement Fractional Ownership concern a specific and one-time purchase of the Token or more. Each subsequent purchase requires separate acceptance of the Regulations.
- Any disputes between BlockChain Hotels and a User who is not a Consumer will be settled by the International Arbitration Center at the Austrian Chamber of Commerce, based on the Vienna Regulations of 2018.
Paragraph 13 – Termination of the Agreement (only applies to Users who are Consumers)
- To you who is a Consumer has the right to withdraw from the agreement concluded with BlockChain Hotels. He may withdraw from the agreement concluded with BlockChain Hotels within 14 days of its conclusion without giving any reason and without cost, subject to paragraph. 3.
- Withdrawal from the contract may be made, in particular, by submitting a BlockChain Hotels statement of withdrawal, an exemplary model of which constitutes Appendix No. 1 to the Regulations. The statement of withdrawal may be submitted to BlockChain Hotels by email or in writing to the addresses indicated in these Regulations.
- The transfer of Tokens to the User before the deadline for withdrawal from the contract, takes place only with the consent and request of the User being a Consumer, submitted via the Website, which involves the User’s right to withdraw from the Agreement.