Risks in QNT exchange
Warning: There are several risks in the QNT exchange
There are several risk factors associated with the QNT exchange transaction. They are listed below. In addition, there might be other risks not listed here. There is a possibility that some risk factors have not been predicted or yet identified as such by our company.
Please, make sure to attentively consider all the risks prior to the QNT exchange transaction, and consult your lawyer, accountant or tax accountant if necessary. If at least one of the listed QNT risks is unacceptable to you, you should refrain from using the QNT exchange transaction.
You should use the QNT exchange transaction at your own risk after you carefully consider all the potential liabilities of QNT. By ordering the QNT exchange transaction, you agree to the potential risks. Our company does not take responsibility for any QNT related risks.
Risks related to the fact that “Quanta” is still under development
QNT is a Crypto Asset of the game protocol “Quanta” using crypto-technologies. At the moment “Quanta” is being development by a QNT issuing company called Quanta Co., Ltd., and is scheduled to be released in the fourth quarter of 2016. However, there is a possibility that the release of “Quanta” will be postponed, or the development of ”Quanta” will be ceased.
There is also a possibility that “Quanta” will be ceased after the release due to bankruptcy of Quanta Co., Ltd.(including receivers and successors of assets, debts, rights and/or duties). In these cases, there is a possibility that the price of QNT will drastically fall or will become zero.
Even in these cases, our company will not give any refunds, or make any compensation for cancellation or other damages etc. That is why we strongly recommend you to use the QNT exchange transaction only after carefully consideration of all these factors.
Risks related to foreign exchange fluctuations during the exchange transaction
During the presale period the QNT exchange price is calculated in US dollars and exchanged to bitcoins. However, there is a time lag between the moment when you pay the exchange consideration and the moment when our company converts the received exchange consideration into QNT. That is why there are risks, such as the US dollar exchange rate risk and the bitcoin price fluctuation risk.
Our company exclusively exchanges QNT during the presale period, however, it will not be involved in any operations, such as QNT issuance, exchange of QNT to other cryptocurrency or Crypto Asset, or real currency, conversion into money, etc. Our company cannot make predictions on how QNT will circulate after the “Quanta” release, and does not give any grantees concerning this matter. Besides, even in the case that QNT starts circulating in the market, there is a possibility that transactions will be impossible or difficult to perform, or transactions will have to be performed at a very disadvantageous price due to conditions, such as market trades or transaction amounts, etc.
Price fluctuation risks
If QNT starts circulating in the market (as it was already mentioned above, our company will not be involved in any operations, and cannot make any predictions), its price will fluctuate daily and hourly due to conditions, such as market trades or transaction amounts, etc. Besides, at the moment according to the plan, the maximum total amount of QNT to be issued is 120 billion, however, it is also possible that in the future the issuer will change the issuance amount.
Due to various reasons, including the above mentioned, the price of your QNT may rapidly fluctuate or fall. You also have to take into consideration that there is a possibility that the QNT price will become zero.
QNT network risks
The transaction status of QNT (verification of a transaction on the blockchain) will be on hold for a certain amount of time until the transaction is thoroughly confirmed. Any changes to your account balance will not be reflected until the transaction on the QNT network is thoroughly confirmed. Your transaction may also be cancelled on the blockchain.
Risks of password loss etc.
In the case that you lose your password, secret key etc. necessary for access to your QNT account, there is a possibility that you will not be able to access the QNT account in your possession, or a third party will gain unauthorized access to your account. Please, retain careful control of your personal information, such as your password, on your own responsibility.
Our company does not take any responsibility for any damages caused by the loss of your password, unauthorized access to your account by a third party, hacking, etc.
There is a risk that your transaction will be disabled due to a system fault caused by changes of external environment. There is a possibility that you will not be able to order your QNT due to regular or emergency maintenance of our company’s system, or any system faults. Even in this case, our company will not compensate for any of your damages, including loss of profit (for example, if you had a chance to place an order normally, you would make a profit). There is also a possibility that the QNT cost pertaining to your transaction may show abnormal cost due to the irregular behaviour of our company’s system. If any transaction at an abnormal cost is detected, the transaction can be cancelled at our company’s discretion. We ask for your kind understanding.
There is a risk that our company will not be able to continue its business activities due to external environment changes. In the case that our company will not be able to continue its business activities, all the procedures, including your asset related issues, will be performed in accordance with the legislative procedures of Bankruptcy Law, Corporate Law, Corporate Rehabilitation Law, Civil Rehabilitation Law, etc.
Law and regulations/ tax system changes risks
At the moment any regulations concerning Crypto Asset and crypto currency, including QNT, have not been established in Japan. In the same way, at the moment in Japan there is no established taxation system related to Crypto Asset and cryptocurrency, including QNT, that is why there is a possibility that the profit on sales and transfers that you gained through the QNT transactions will be subject to future taxation. Our company does not take any responsibility for your tax return. If necessary consult your lawyer, accountant and tax accountant concerning QNT related laws, regulations, taxation system, your responsibilities and expenses.