GalleryARC is currently in development stages and there are a variety of unforeseeable risks.
You must acknowledge and agree that there are numerous risks associated with acquiring $ARCN, holding $ARCN, and using $ARCN for participation in the GalleryARC platform.
In the worst scenario, this could lead to the loss of all or part of $ARCN held.
IF YOU DECIDE TO ACQUIRE $ARCN OR PARTICIPATE IN THE GALLERYARC PLATFORM, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:
Uncertain Regulations and Enforcement Actions:
The regulatory status of the GalleryARC platform, $ARCN and the platforms distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of digital assets has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including $ARCN and/or the GalleryARC platform. Regulatory actions could negatively impact $ARCN and/or the GalleryARC platform in various ways.
The Company, the Distributor (or their respective affiliates) may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. After consulting with a wide range of legal advisors to mitigate the legal risks as much as possible, the Company and Distributor have worked with a specialist blockchain department and obtained a legal opinion on the token distribution, and will be conducting business in accordance with the prevailing market practice.
Inadequate disclosure of information:
As at the date hereof, the GalleryARC platform is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be constantly and frequently updated and changed.
Although this material contains the most current information relating to the GalleryARC platform, it is not absolutely complete and may still be adjusted and updated by the GalleryARC team from time to time.
The GalleryARC team has neither the ability nor obligation to keep holders of $ARCN informed of every detail (including development progress and expected milestones) regarding the project to develop the GalleryARC platform, hence insufficient information disclosure is inevitable and reasonable.
Various types of decentralised applications, games and networks are emerging at a rapid rate, and the industry is increasingly competitive. It is possible that alternative networks could be established that utilise the same or similar code and protocol underlying $ARCN and/or the GalleryARC platform and attempt to re-create similar facilities.
The GalleryARC platform may be required to compete with these alternative networks, which could negatively impact $ARCN and/or the GalleryARC platform.
Loss of Talent:
The development of the GalleryARC platform greatly depends on the continued co-operation of the existing technical team and expert consultants, who are highly knowledgeable and experienced in their respective sectors. The loss of any member may adversely affect the GalleryARC platform or its future development.
Further, stability and cohesion within the team is critical to the overall development of the GalleryARC platform. There is the possibility that conflict within the team and/or departure of core personnel may occur, resulting in negative influence on the project in the future.
Failure to develop: T
There is the risk that the development of the GalleryARC platform will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or $ARCN, unforeseen technical difficulties, and shortage of development funds for activities.
Hackers or other malicious groups or organisations may attempt to interfere with $ARCN and/or the GalleryARC platform in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing.
Furthermore, there is a risk that a third party or a member of the Company, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of $ARCN and/or the GalleryARC platform, which could negatively affect $ARCN and/or the GalleryARC platform.
Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to $ARCN and/or the GalleryARC platform by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.
In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in the GalleryARC platform, as well as acquisition of, holding and use of $ARCN, including those that the Company or the Distributor cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the aforementioned risks.
You should conduct full due diligence on the Company, the Distributor, our respective affiliates, and the GalleryARC team, as well as understand the overall framework, mission and vision for the GalleryARC platform prior to participating and/or acquiring $ARCN.