Terms of Use | hashport - Hello Interoperability.

Last Updated: 9 November 2021

1. Introduction

1.1

These Terms of Use, together with any other terms and conditions or other agreement(s) that hashport DLT Solutions Ltd (“HP”, “we”, “us” and “our”) posts publicly or otherwise makes available to you or the company or other legal entity you represent (“End User”, “you”, and “your”) from time to time (collectively, these “Terms”), form a legally binding agreement between HP and you concerning your use of, and access to, HP’s websites and platforms, including https://app.hashport.network and any related web or mobile applications, and all associated sites linked thereto by HP or its Affiliates (collectively with any materials and services available therein, and successor website(s) or application(s) thereto, the “Site”). Please see Clause 29 for definitions of certain capitalized terms used in these Terms.

1.2

Please read these Terms carefully, as these Terms govern your use of the Site and hashport (as defined below) (the provision of the Site and hashport collectively referred to as the “Services”). These Terms expressly set out your rights and obligations, and our disclaimers and limitations of legal liability, relating to your use of, and access to, the Services. By accessing and/or using the Services, you accept and agree to comply with and be bound by these Terms. If you do not agree to these Terms, then you must not access or use the Services.

1.3

HP reserves the absolute right, in its sole discretion, to modify and/or add to these Terms from time to time. If we make these changes, we will provide you with notice of such changes, such as by posting announcements on the Site or updating the “Last Updated” date at the beginning of these Terms. Unless we state otherwise in relevant notice(s), all such modifications are effective immediately, and if you continue use of the Services after we provide such notice(s), you shall be deemed to have read, understood and agreed to these Terms as amended. If you do not agree to the amended Terms, then you must stop using the Services.

2. Use of the Services

2.1

HP develops, operates and manages hashport, a public utility that enables interoperability between protocols by allowing the End User to extend the functionality of existing tokens to different networks. In order to use the Services, End Users will have to connect their digital asset wallets to the Site via the user interface as available on the Site from time to time.

2.2

If you are accessing or using the Services on behalf of any other person, you represent, warrant and undertake that you are authorised and will remain authorised to do so and that you are authorised to bind such person to these Terms.

3. Fees

In connection with your access to and use of the Services, you are required to pay all fees necessary for interacting with any distributed ledger technology network supported by hashport from time to time, including any and all Network Fees, as well as all other fees as stipulated on the Site from time to time. While HP will use reasonable endeavours to estimate and display such fees on the Site when prompted by an End User, HP is not responsible for any divergence from its estimates and shall not be liable for any Loss you incur arising from or in connection with such divergence.

4. Prohibited Activities

4.1

You agree not to engage in, or attempt to engage in, any of the following categories of prohibited activity in relation to your access or use of the Services:

4.1.1

activity that infringes on or violates any copyright, trademark, service mark, patent, right of publicity, right of privacy, or other proprietary or Intellectual Property Rights under Applicable Laws;

4.1.2

activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including but not limited to the deployment of viruses and denial of service attacks;

4.1.3

activity that seeks to defraud us or any other person or entity, including but not limited to providing any false, inaccurate, or misleading information in order to unlawfully obtain the property of another; or

4.1.4

activity that violates any Applicable Laws.

5. Your Rights and Obligations

5.1

You acknowledge and agree that you are responsible for using any proper encryption and security measures appropriate to safeguard critical information (including but not limited to the public/private keys to access any End User wallet) from unauthorized access or use.

5.2

Your use of the Services is at your own risk. We cannot guarantee that access to the Site or the Services will be available to you on a continuous, uninterrupted, timely, error-free or secure basis. We will not be liable to you or any other person for any Loss incurred in connection with any interruption to, unavailability of or defect in the same. Accordingly, you understand and agree to assume full responsibility for all of the risks of using the Services.

5.3

You acknowledge and agree that you understand the inherent risks associated with using cryptographic networks and distributed ledger technologies, and that you have a working knowledge of the usage and intricacies of digital assets including Hedera Hashgraph (HBAR), Polygon (MATIC) and other digital tokens including those following the Ethereum Token Standard (ERC-20) and the Hedera Token Service (HTS). You shall bear sole responsibility for any related technology risks in respect of any Porting Executions or your other uses of the Services.

5.4

The prices of digital assets are extremely volatile due to factors including but not limited to adoption, speculation, technology, security and regulation. You are solely responsible for any financial consequences that may be caused by your use of the Services (e.g. initiating Porting Executions), including but not limited to volatile price actions and adverse market conditions, as well as any Loss caused by uses of or interactions with decentralized applications on non-native networks of digital assets.

5.5

You are solely responsible for determining and paying the amount of taxes payable (if any) in relation to your Porting Executions. Neither HP nor its affiliates is responsible for determining or withholding the taxes that may apply to Porting Executions or other uses of the Services.

6. Our Rights and Obligations

6.1

We shall operate the Site and hashport using reasonable care and skill and in accordance with Applicable Laws.

6.2

We may, at our sole discretion, from time to time and without prior notice to you, modify, suspend or disable (temporarily or permanently) the Services, in whole or in part, including in the following circumstances:

6.2.1

we reasonably suspect that you may have breached these Terms or any Applicable Laws;

6.2.2

your access to or use of the Services is disrupting or placing, or is reasonably likely to disrupt or place, excessive demands on our Systems;

6.2.3

we detect any suspicious or abnormal activity in respect of your access to or use of the Services; or

6.2.4

your access to or use of the Services is causing or is reasonably likely to cause adverse effect on our brand, image or reputation.

Upon termination of your access, your right to use the Services will immediately cease. We will not be liable for any Loss suffered by you resulting from any modification to the Services or from any modification, suspension or termination of your access to all or any portion of the Services.

7. Disclaimers

7.1

We will not be responsible or liable to you for any Loss that may or may not be caused by your use or inability to use digital assets and related software, including but not limited to any losses, damages or claims arising from:

7.1.1

End User errors such as forgotten passwords or private keys, incorrectly constructed transactions, or mistyped addresses;

7.1.2

any form of server failure or data loss;

7.1.3

corrupted wallet files or unauthorized access to wallets of the End User;

7.1.4

any unauthorized third party activities, including but not limited to the use of viruses, phishing, brute-forcing or other means of attack against the Service; or

7.1.5

any unauthorized third party activities, including but not limited to 51% attacks, double-spend attacks, or other means of attack and any other bugs, malfunctions or failures in relation to digital assets supported by hashport or smart contracts related to such digital assets from time to time.

7.2

We will not be responsible or liable to you for any Loss that may result from our use of third party data for information and educational purposes in relation to our provision of the Services.

7.3

You understand, acknowledge and agree that:

7.3.1

the Services rely on and interact with emerging distributed ledger technologies and may contain bugs, errors, defects or security vulnerabilities. HP will not be responsible for any Loss that may be caused by such bugs, errors, defects or hacks, security breaches or other forms of attacks that may otherwise adversely affect the Services and End Users;

7.3.2

hashport may rely on and display price feeds of digital assets provided by third party oracles, which may be delayed, incorrect or otherwise inaccurate. Such pricing information does not represent an offer, a solicitation of an offer, or any advice regarding, or recommendation to use the Services;

7.3.3

hashport may from time to time support digital assets with decentralized governance models, in which holders of such digital assets can cast votes regarding software developments relating to their underlying protocols. HP will not be responsible for any Loss that may be caused by decisions made via such governance models or developers of digital assets;

7.3.4

hashport may from time to time support digital assets that peg their market values to other fiat currencies, digital assets or other external references of value. Such digital assets may lose their pegs from time to time or indefinitely for various reasons, leading to rapid depreciation or loss of market share. HP will not be responsible for any Loss that may be caused by such events;

7.3.5

there are various risks associated with digital assets, including but not limited to, the risk of hardware, software and internet connections, the risk of invalid transactions, the risk of malicious attacks and hacks, and the risk that third parties may obtain unauthorized access to information and/or funds stored within your wallet. Third parties may also alter the functionality, access rights, or transfer capabilities of digital assets without prior notice to you. These risks may be further magnified by your potential misuse of the Services and/or software relating to digital asset transactions. HP will not be responsible for any such failures, disruptions, errors, distortions, delays or any loss of access or transfer rights in relation to digital assets you may experience when using hashport and/or digital assets supported by hashport from time to time, however caused; and

7.3.6

the regulatory regime governing distributed ledger technologies and digital assets is uncertain, and new regulations or policies may materially adversely affect the development of the Services and the utility and value of digital assets.

7.4

Without limiting Clause 7.1 above, neither HP nor any of its Affiliates involved in the creation and ongoing operations of hashport will be liable for any claims or damages whatsoever associated with your use, inability to use, or your interaction with other users of, hashport, including any direct, indirect, incidental, special, exemplary, punitive or consequential damages, or loss of profits, digital assets, tokens, or anything else of value.

8. Compliance with Laws

8.1

You shall comply with all Applicable Laws when using the Services, including those regarding anti-money laundering. You represent, warrant and undertake that you will not use the Services if the laws of the jurisdiction in which you reside, or any other Applicable Laws, prohibit you from doing so.

8.2

You shall cooperate with us or any Regulator regarding compliance with Applicable Laws upon request, including anti-money laundering activities, and to provide us with any information we or any Regulator may request in connection with any anti-money laundering investigation or other procedure in connection with compliance obligations under Applicable Laws.

9. Representations, Warranties and Undertakings

9.1

Each party represents, warrants and undertakes to the other party that once agreed, these Terms will constitute its valid and binding obligations in accordance with its terms herein.

9.2

You further represent, warrant and undertake to us that:

9.2.1

if you are entering into these Terms as an individual, then you are of legal age in the jurisdiction in which you reside and you have the legal capacity to enter into these Terms and be bound by them;

9.2.2

if you are entering into these Terms as a non-individual legal entity, then (i) you have the full capacity and authority to enter into and perform your obligations under these Terms and your representative all the requisite power, authority and capacity to accept these Terms on your behalf, and (ii) you are validly incorporated and duly registered under Applicable Laws, and has all the requisite right, power and authority to carry on its business;

9.2.3

you are not a resident, national or agent of countries or regions sanctioned by the United States government (including but not limited to countries or regions on any sanctions lists of the Office of Foreign Assets Control), the United Kingdom government, the European Union, or the United Nations;

9.2.4

you are not a member of any sanctions list or equivalent maintained by the United States government, the United Kingdom government, the European Union, or the United Nations;

9.2.5

you do not, and will not, use any virtual private network (VPN) software or any other privacy or anonymization tools or techniques to circumvent, or attempt to circumvent, any restrictions that apply to the Services;

9.2.6

your access to the Services is not prohibited by any and all Applicable Laws;

9.2.7

your access to the Services does not contribute to or facilitate any illegal activity;

9.2.8

all information and documentation provided by you in connection with your use of the Services is and will remain complete, accurate and truthful, and you shall provide to us updates of such information and documentation promptly upon any material change or inaccuracy;

9.2.9

you will only transfer and otherwise interact with legally obtained digital assets of which you are the legal and beneficial owner;

9.2.10

you shall perform your obligations under these Terms in a manner that enables us to comply with our requirements under Applicable Laws from time to time;

9.2.11

if and when requested by us, you shall promptly provide us with any information and records and access to such which is, in each case, reasonably necessary for us to assess your compliance with these Terms, to comply with Applicable Laws or to undertake reasonable and ongoing monitoring of risks in relation to your use of the Services; and

9.2.12

you are not aware of and have not intentionally withheld any information or fact which may give rise to or result in the Services provided hereunder being in breach of any Applicable Laws.

9.3

You acknowledge and agree that the Services will be provided on an “as is” and “as available” basis and that we have not made any representations or provided any warranties or undertakings of any kind, express, implied or otherwise, save to the extent expressly provided in these Terms.

10. Intellectual Property Rights

10.1

Except as expressly provided, nothing in these Terms shall transfer, assign, license or otherwise grant any party any right or interest in any other party’s or its Affiliates’ Intellectual Property Rights. For the avoidance of doubt, all titles, rights, and interests in and to the Site and hashport including all related Intellectual Property Rights, are and shall continue to be vested in HP.

10.2

You shall indemnify HP on demand against all Loss suffered or incurred as a result of any actual or alleged infringement of any Intellectual Property Rights in accordance with these Terms.

11. Data Protection

11.1

You acknowledge and agree that HP only processes Personal Data (including but not limited to location data, wallet addresses, transaction amounts, browser version and device type) on behalf of the End User for the performance of its obligations under these Terms. For the avoidance of doubt, HP does not store any information in respect of End User public/private keys on its servers.

11.2

With respect to any individual whose data you (or anyone else on your behalf) provide to us or each of our Affiliates, you undertake to:

11.2.1

ensure that such individual has been notified of, and has agreed to the use, collection, processing, retention, disclosure and transfer of their information as set out in our privacy policy which we may provide to you from time to time; and

11.2.2

inform such individual that they have rights of access to, and correction of, their Personal Data.

12. Security

You shall not disclose, divulge, assign or transfer (with or without consideration) any of the technology (other than any open-source technology), security protocols or security certificates provided by us. You shall not process, use or transfer information collected through the Services for any purposes other than those set out in these Terms.

13. Termination and Suspension

13.1

Without limitation to the rest of this Clause 13, we may immediately terminate these Terms without further liability upon giving notice to you by posting an announcement on the Site.

13.2

We may suspend these Terms immediately upon giving notice to you by posting an announcement on the Site if:

13.2.1

you are unable to pay your debts as they fall due or admit inability to do so, suspend making payments on any of your debts or, by reason of actual or anticipated financial difficulties, commence negotiations with one or more of your creditors for the purposes of rescheduling any of your indebtedness;

13.2.2

you become bankrupt, insolvent or take any step or action in connection with your entering into administration, provisional liquidation or any composition or arrangement with your creditors (other than a solvent restructuring), are wound up (whether voluntarily or by order of the court, unless for the purpose of a solvent restructuring), have a receiver appointed to any of your assets or cease to carry on business or any step or action is taken in another jurisdiction in connection with any analogous procedure in the relevant jurisdiction;

13.2.3

you have committed any material or persistent breach of these Terms;

13.2.4

you behave in a manner which in our reasonable opinion is likely to bring us or any of our Affiliates into disrepute or otherwise compromise or adversely affect our reputation and standing or that of any of our Affiliates; or

13.2.5

a Force Majeure Event continues for forty-five (45) days or more.

13.3

The termination or expiry of these Terms (or any part thereof) will not affect any rights accrued prior to termination or expiry.

13.4

The termination or expiry of these Terms (or any part thereof) will not affect any rights accrued prior to termination or expiry.The provisions of these Terms, which by their nature and content, are intended, expressly or impliedly, to continue to have effect notwithstanding the termination or expiry of these Terms shall survive and continue to bind the parties.

14. Liability and Indemnity

14.1

To the maximum extent permitted by Applicable Laws, HP and its Affiliates shall not be liable to you, whether in contract (including under any indemnity), in tort (including negligence), for breach of statutory duty or otherwise, arising under or in connection with these Terms for any indirect or consequential Loss (regardless of whether such indirect or consequential Loss is foreseeable), or any Loss of profits, revenue, contracts, anticipated savings, data, goodwill or wasted expenditure.

14.2

To the maximum extent permitted by Applicable Laws, the total aggregate liability of HP and its Affiliates shall be limited to five hundred US dollars (USD 500), whether based on an action or claim in contract, breach of statutory duty, tort (including negligence), or otherwise arising out of, or in relation to these Terms.

14.3

No provision in these Terms shall limit or exclude your liability:

14.3.1

to the extent that it cannot be legally limited or excluded by Applicable Laws;

14.3.2

for death or personal injury arising out of its negligence;

14.3.3

for any liability for wilful misconduct; and/or

14.3.4

for any Loss suffered by HP and/or each of its Affiliates arising out of any fraud or fraudulent statement of you.

14.4

You agree to indemnify, hold harmless, defend, and keep indemnified us and each of our Affiliates from and against any and all Loss suffered or incurred by us and each of our Affiliates (including that suffered or incurred by a director, officer, employee, Affiliate or agent of HP and such Affiliate) arising out of or in relation to:

14.4.1

any breach by you of these Terms or Applicable Laws;

14.4.2

any third party claim against us or our Affiliates arising out of or in relation to your access to or use of the Site or the Services; and

14.4.3

any other act or omission attributable to you during performance of your obligations under these Terms, as a result of which we or any of our Affiliates (i) is prevented from or delayed from performing all or any of its obligations or the cost of such performance increases; or (ii) suffers any Loss arising out of, pursuant to or in connection with such act or omission.

14.5

You acknowledge and agree that we are not liable for any third party charges you may incur (including but not limited to any charges from your internet and telecommunication service providers) in relation to or arising out of your access to the Services.

15. Force Majeure Event

Neither HP nor its Affiliates will be liable for any delay or failure to perform any obligation under these Terms where the delay or failure results from a Force Majeure Event. In such circumstances, the relevant obligations under these Terms shall be suspended for the duration of the Force Majeure Event, subject to HP’s right to terminate these Terms under Clause 13.2.5.

16. Entire Agreement

These Terms constitute the entire agreement between the parties relating to the subject matter herein and supersedes and extinguishes all previous drafts, agreements, arrangements and understandings between them, whether written or oral, relating to such subject matter.

17. Severability

Each of the provisions of these Terms is severable. If a provision is held to be or becomes illegal, invalid or unenforceable in any respect under Applicable Laws, then to the extent that it is illegal, invalid or unenforceable and can be deleted without altering the essence of these Terms, it shall be deemed to be deleted and shall not affect or impair the legality, validity or enforceability of the other provisions of these Terms. If the invalid, illegal or unenforceable provision cannot be deleted without altering the essence of these Terms, subject to Clause 1.3, we may amend these Terms to remedy such invalidity, illegality or unenforceability to the extent needed to achieve the intent of the original provision.

18. Assignment

18.1

Notwithstanding any other provision in these Terms, you shall not without our prior written consent, assign, transfer, novate, part with, outsource, subcontract or delegate any of your rights, responsibilities and/or obligations under these Terms (in whole or in part).

18.2

Notwithstanding any other provision in these Terms, we may assign, transfer, novate, part with or subcontract any of our rights, responsibilities and/or obligations under these Terms (in whole or in part) to any of our Affiliates without your prior consent.

19. Variation

No amendment, variation or waiver of these Terms shall be valid unless it is in writing and duly executed by or on behalf of all of the parties to it. No variation shall constitute a general waiver of any provision of these Terms, and the rights and obligations of the parties under these Terms shall remain in full force and effect save and only to the extent that they are so varied. Any variation made shall not affect any rights or obligations under these Terms which has been accrued up to the date of said variation.

20. No Reliance

Neither party has entered into these Terms in reliance on any representation, warranty or undertaking of the other party, except as expressly referred to in these Terms. This Clause 20 shall not exclude any liability for, or remedy for, fraud or fraudulent misrepresentation by either party.

21. Governing Law

These Terms and the relationship between the Parties herein shall be governed by and construed in accordance with the laws of Hong Kong.

22. Arbitration

Each party agrees, on behalf of itself and as agent for its respective Affiliates, that any dispute, controversy, difference or claim arising out of or relating to these Terms, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (“HKIAC”) under the HKIAC Administered Arbitration Rules (the “Rules”) in force when the Notice of Arbitration is submitted under the Rules. The seat of arbitration shall be Hong Kong. The number of arbitrators shall be one (1). The arbitration proceedings shall be conducted in English. This arbitration agreement shall be governed by the laws of Hong Kong. The award under such arbitration shall be final and binding against the Parties concerned.

23. Waiver

No failure or delay by a party to exercise any right or remedy provided under these Terms or by Applicable Laws shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.

24. No Partnership or Agency

No provision in these Terms is intended to or creates a partnership between the parties or establishes a party as the agent of another party for any purpose. A party has no authority to act for, bind, contract in the name of, or create a liability for the other party by any means or for any purpose.

25. Costs

Except as otherwise expressly provided in these Terms, each party will pay its own costs incurred in connection with the performance of its obligations under these Terms, save to the extent that is expressly provided otherwise herein.

26. Further Assurance

Each party shall, and shall use all reasonable endeavours to procure that any necessary third party shall, execute and deliver such documents and perform such acts as may reasonably be required for the purpose of giving full effect to these Terms

27. Third Party Rights

Except as otherwise expressly provided in these Terms, a person who is not a party to these Terms has no right to enforce or to enjoy the benefit of any provisions of these Terms under the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the Laws of Hong Kong).

28. Translation

These Terms are drafted in the English language. If any translation of these terms is made, the terms of the English version will prevail to the extent of any inconsistency.

29. Definitions

“Affiliate” means from time to time in relation to an entity, another entity Controlling, Controlled by, or under common Control with, that entity;

“Applicable Laws” means in relation to either party, all laws, statutes, orders, rules, provisions, regulations, directives, and guidelines which have legal effect, whether local, national, international or otherwise existing from time to time, including all Regulators’ rules, requirements, standards, guidelines and recommendations which have legal effect, as applicable to such party or as applicable to that party’s obligations under these Terms;

“Control” means in relation to an entity the legal, beneficial or equitable ownership, whether directly or indirectly, of fifty percent (50%) or more of its fully diluted voting share capital (or other ownership interest, if not a corporation), or the equivalent right under contract to control management decisions with regard to the relevant subjects, and “Controlling” and “Controlled” shall be defined accordingly;

“End User” has the meaning given in Clause 1.1;

“Force Majeure Event” means, in relation to a party, any event or circumstance beyond the reasonable control of such party and not caused by such party’s default or negligence, including failures of public telecommunications or transportation infrastructure, failure or shortage of power supplies, acts of God or nature, terrorism or war, accidents, nature disasters (including fire, earthquakes, landslides, lightning, meteors, floods, tsunami, tornados, storms, hurricane and typhoons), explosions, states of emergency, freight embargoes, riots or civil disturbances, wars, acts of sabotage, strikes, embargo, labour disputes (except involving employees of the party or its sub-contractors), mob violence, act or failure to act of government or other competent regulatory authority including but not limited to a Regulator, plague, epidemic, pandemic, outbreaks of infectious disease and/or any other public health crisis (including quarantine or other similar restrictions), or similar events. For the avoidance of doubt, it shall include an incident in relation to government acts, directives, approvals, consent, laws, regulations or licensing requirement, including any restriction on the supply of a Service pursuant to Applicable Laws or any decision by a governmental authority preventing the supply of a Service;

“hashport” means a public utility portal created by HP that enables interoperability between protocols by allowing End Users to extend the functionality of digital assets to non-native distributed ledger technology networks;

“Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China;

“HKIAC” has the meaning given in Clause 22;

“HP” has the meaning given in Clause 1.1;

“Intellectual Property Rights” means all present and future rights conferred by statute, common law or equity in any territory and in relation to patents, trademarks, service marks, logos, get up, trade names, internet domain names, rights in designs, copyright (including rights in computer software and preparatory design materials), moral rights, database rights, semiconductor topography rights, utility models, rights in intellectual property rights, in each case whether registered or unregistered and including applications for registration, and all rights or forms of protection having equivalent or similar effect anywhere in the world (including application programming interfaces);

“Loss” means any and all loss, damages, liabilities, actions, proceedings, claims, demands, costs, expenses, charges, tax, duties, levies, interest, penalties, fines, assessments, disbursements, reimbursement orders and other expenses (including all legal, professional and other expenses and amounts reasonably paid in settlement) paid, suffered or incurred by either party whether incurred directly, indirectly or consequentially;

“Network Fees” mean any and all applicable network fees as necessary to conduct a Porting Execution which are borne by the End User and the Validator respectively, depending on the applicable network;

“Personal Data” has the meaning given in the Applicable Laws in respect of data protection;

“Porting Execution” means the action of projecting a digital asset onto a foreign network, which is validated and processed by the Swarm Node as requested by an End User;

“Regulator” means any governmental, statutory or regulatory body and any other competent ministry, authority, agency or institution that may, from time to time, in any jurisdiction have responsibility to regulate, supervise and/or otherwise exercise state authority in relation to either party or the activities contemplated by these Terms;

“Rules” has the meaning given in Clause 22;

“Services” has the meaning given in Clause 1.2;

“Site” has the meaning given in Clause 1.1;

“Swarm Node” means the Validator’s node responsible for signing and approving Porting Executions;

“Systems” means the hardware, software, networks, systems, equipment and peripherals and facilities used by or on behalf of the party;

“Terms” has the meaning given in Clause 1.1;

“Validator” means any entity engaged by HP to operate and secure hashport and which is a member of the Validator Swarm; and

“Validator Swarm” means the governing body responsible for approving Porting Executions and operating and securing hashport, which is composed of the Validator and other third party entities that have also entered into an agreement with HP to act as a Validator in respect of hashport.

30. Interpretation

In these Terms, unless the context otherwise requires, a reference to:

(a)

the headings are inserted for convenience only and shall not affect construction or interpretation of these Terms;

(b)

a legislation includes all amendments, modifications, consolidations or re-enactments of or to that legislation as may be made from time to time, and includes any subordinate legislation issued under it;

(c)

a document (including these Terms) or a provision of a document is a reference to that document or provision as amended, supplemented, novated or replaced from time to time;

(d)

a person or entity includes any type of entity or body of persons, whether or not it is incorporated or has a separate legal identity, and any executor, administrator or successor in law of the person;

(e)

a “day” means a period of twenty-four (24) hours running from midnight to immediately before the following midnight;

(f)

a “party” is to HP or the End User (as applicable) and a reference to the “parties” is, in each case, to both of them;

(g)

a singular word includes the plural and vice versa;

(h)

one gender includes all genders;

(i)

a Clause is a reference to a section of these Terms;

(j)

a time of day is to Hong Kong time;

(k)

the words “include”, “includes”, “including”, “in particular” or any similar expression will be construed as illustrative and the words following any of those terms will not limit the sense of the words preceding those terms;

(l)

the word “or” will not be exclusive; and

defined words and expressions in grammatical forms other than as provided have corresponding meanings.