Disclaimers

No Representations

Zenit World LTD intends to operate in full compliance with applicable laws and regulations and use its best endeavors to obtain the necessary licenses and approvals. Regulatory licenses and/or approvals are likely to be required in a number of relevant jurisdictions in which relevant activities may take place. This means that the development and roll-out of all the initiatives described in this whitepaper are not guaranteed. It is not possible to guarantee, and no person makes any representations, warranties or assurances, that any such licenses or approvals will be obtained within a particular timeframe or at all. As such, the initiatives described in this white paper may not be available in certain jurisdictions, or at all. This could require restructuring of these initiatives and/or their unavailability in all or certain respects. In addition, the development of any initiatives is intended to be implemented in stages. During certain stages of development, the project may rely on relationships with certain licensed third-party entities. If these entities are no longer properly licensed in the relevant jurisdiction, this will impact the ability of the project to rely on the services of that party. No representations or warranties have been made to the recipient of this white paper or its advisers as to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this white paper or any omission from this document or of any other written or oral information or opinions provided now or in the future to any interested party or their advisers. The KBT tokens, as envisaged in this white paper, are under development and are being constantly updated, including but not limited to key governance and technical features. If and when the KBT tokens are completed, they may differ significantly from the description set out in this white paper. No representation or warranty is given as to the achievement or reasonableness of any plans, future projections or prospects and nothing in this document is or should be relied upon as a promise or representation as to the future. To the fullest extent possible, all liability for any loss or damage of whatsoever kind which may arise from any person acting on any information and opinions contained in this white paper or any information which is made available in connection with any further enquiries, notwithstanding any negligence, default or lack of care, is disclaimed.​

Third-party data

This white paper contains data and references obtained from third-party sources. Whilst the management believes that these data are accurate and reliable, they have not been subject to independent audit, verification, or analysis by any professional legal, accounting, engineering, or financial advisors. There is no assurance as to the accuracy, reliability, or completeness of the data. Translations This white paper and related materials are issued in English. Any translation is for reference purposes only and is not certified by any person. No assurance can be made as to the accuracy and completeness of any translations. If there is any inconsistency between a translation and the English version of this white paper, the English version shall prevail.

Restricted transmission

This white paper must not be taken or transmitted to any jurisdiction where distribution or dissemination of this white paper is prohibited or restricted.

Views of Koinbay

The views and opinions expressed in this white paper are those of www.koinbay.com and do not reflect the official policy or position of any government, authority or public body (including but not limited to any regulatory body) in any jurisdiction. This white paper has not been reviewed by any regulatory authority.​

Third-party references

References in this white paper to specific companies, networks and/or potential use cases are for illustrative purposes only. The use of any company and/or platform names and trademarks does not imply any affiliation with, or recommendation, or endorsement of/by, any of those parties. All references to USD, or ‘$’ are references to the United States Dollars unless otherwise stated. All references to ‘euro’, EUR or ‘€’ are references to the Euro unless otherwise stated.​

Graphics

All graphics included in this white paper are for illustrative purposes only. In particular, graphics with price references do not translate into actual pricing information.​

No Advice

This white paper does not constitute any investment advice, financial advice, trading advice or recommendation by www.koinbay.com, its affiliates, or its respective officers, directors, managers, employees, agents, advisors or consultants on the merits of purchasing KBT tokens nor should it be relied upon in connection with any other contract or purchasing decision.​

Not a Sale of Security

This white paper does not constitute a prospectus or financial service offering document and is not an offer to sell or solicitation of an offer to buy any security, investment products, regulated products or financial instruments in any jurisdiction. KBT tokens are not being structured or sold as securities in koinbay.com. Owners of KBT tokens are not entitled to any rights in koinbay.com or any of its affiliates, including any equity, shares, units, royalties to capital, profit, returns or income in koinbay.com or any other company or intellectual property associated with koinbay.com​

Risk statements

Purchasing KBT tokens involves substantial risk and may lead to a loss of a substantial or entire amount of the money involved. Prior to purchasing KBT tokens, you should carefully assess and take into account the risks, including those listed in any other documentation. A purchaser should not purchase KBT tokens for speculative or investment purposes. Purchasers should only purchase KBT tokens if they fully understand the nature of the KBT tokens and accept the risks inherent to the KBT tokens. Cryptographic tokens may be subject to expropriation and/or theft; hackers or other malicious groups or organizations may attempt to interfere with our system/network in various ways, including malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing which may result in the loss of your cryptographic tokens or the loss of your ability to access or control your cryptographic tokens. In such event, there may be no remedy, and holders of cryptographic tokens are not guaranteed any remedy, refund, or compensation. The regulatory status of cryptographic tokens and digital assets is currently unsettled, varies among jurisdictions and is subject to significant uncertainty. It is possible that in the future, certain laws, regulations, policies or rules relating to cryptographic tokens, digital assets, blockchain technology, or blockchain applications may be implemented which may directly or indirectly affect or restrict cryptographic token holders’ right to acquire, own, hold, sell, convert, trade, or use cryptographic tokens. The uncertainty in tax legislation relating to cryptographic tokens and digital assets may expose cryptographic token holders to tax consequences associated with the use or trading of cryptographic token. Digital assets and related products and services carry significant risks. Potential purchasers should take into account all of the above and assess the nature of, and their own appetite for, relevant risks independently and consult their advisers before making any decisions. Professional advice: you should consult a lawyer, accountant, tax professional and/or any other professional advisors as necessary prior to determining whether to purchase KBT tokens.​

Caution Regarding Forward-Looking Statements

This white paper contains certain forward-looking statements regarding the business we operate that are based on the belief as well as certain assumptions made by and information available to www.koinbay.com. Forward-looking statements, by their nature, are subject to significant risks and uncertainties. Forward-looking statements may involve estimates and assumptions and are subject to risks, uncertainties and other factors beyond our control and prediction. Accordingly, these factors could cause actual results or outcomes that differ materially from those expressed in the forward-looking statements. Any forward-looking statement speaks only as of the date of which such statement is made, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events​.

Licences and approvals are not assured in all jurisdictions

Koinbay intends to operate in full compliance with applicable laws and regulations and use its best endeavours to obtain the necessary licenses and approvals. Regulatory licences and/or approvals are likely to be required in a number of relevant jurisdictions in which relevant activities may take place. This means that the development and roll-out of all the initiatives described in this whitepaper are not guaranteed. It is not possible to guarantee, and no person makes any representations, warranties or assurances, that any such licences or approvals will be obtained within a particular timeframe or at all. As such, the initiatives described in this whitepaper may not be available in certain jurisdictions, or at all. This could require restructuring of these initiatives and/or its unavailability in all or certain respects. In addition, the development of any initiatives is intended to be implemented in stages. During certain stages of development, the project may rely on relationships with certain licensed third party entities. If these entities are no longer properly licensed in the relevant jurisdiction, this will impact the ability of Koinbay to rely on the services of that party.​

This document is a vision document and should not be considered a specification. It is not promotional material, reflecting the fact of issuance of securities and calling for investment in the sense in which it understands the law on securities. KBT token does not give its holders ownership of a part of any segment of the public or private market. The main purpose of the KBT token's existence is its use in Koinbay. The sole purpose of this document is to present the Koinbay project to potential holders of tokens in such a way that they can make reasonable and informed decisions regarding the purchase of KBT tokens. This document describes in detail the management of the Koinbay project, its importance to society based on our believes, its functionality and distributed within the token sale campaign. No advice Just like any blockchain technology, acquisition of KBT tokens is associated with a high level of financial risk. All investments are done at your sole discretion and you are solely responsible for assessing all potential investment risks as well as doing your due diligence prior to the time of investment. Consult your advisors before making a decision to purchase any Tokens. No offer of securities Koinbay, Zenit World LTD and “KBT” (as described in this white paper) is not intended to constitute securities in any jurisdiction. This white paper does not constitute a prospectus nor offer document of any sort and is not intended to constitute an offer or solicitation of securities or any other investment or other product in any jurisdiction. All statements, project technical information and other declarative information contained in this document cannot be considered as guarantees or promises to the holders of KBT tokens. Such data may not be considered as a financial prediction of any. Forward Looking statements are based on publicly available statistics as well as the proposals and forecasts of the initiators of token sale Koinbay. Despite the fact that the organizers believe the forward-looking statements are reasonable and implementable, Koinbay cannot guarantee to buyers of tokens the correctness of such forward-looking statements, as well as the intended results of the company's activities specified in them. Koinbay will do everything in their power to fulfill predictions listed in the roadmap in good faith to the best of their ability.

Translations

This white paper and related materials are originally issued in English. Any translation is for reference purposes only and is not certified by any person. If there is any inconsistency found between a translation and the English version of this white paper, the English version prevails. Unless otherwise stated, all references to “$” and “dollars” in this white paper pertain to United States dollars. Unless otherwise stated, all references to “€” and “euro” in this white paper pertain to European Euro. This white paper has not been reviewed by any regulatory authority in any jurisdiction.​

Risk Factors

The risk of losing access to KBT tokens in case of loss of private keys. A private key or a combination of private keys is required to manage KBT tokens stored in your digital wallet. The loss of private keys connected to your digital wallet automatically leads to the loss of access to KBT tokens. In addition, if any third party gains access to your private keys or data to enter your wallet, access to your KBT tokens can also be lost. Any technical issues related to the wallet on which you store KBT tokens, including your own wrong wallet maintenance actions, can also lead to the loss of KBT tokens. We strongly suggest you take every safety measure available to you in order to protect your wallet, your private keys and your KBT tokens. No KBT tokens will be re-issued in case of the loss or a theft.​

Blockchain Protocol

Use Risk: Since KBT tokens are based on Ethereum ERC-20 protocol, any possible failure of the protocol can adversely affect Koinbay and KBT tokens, which are in circulation within this system. The development of cryptography and technological advances in blockchain technology in general can also pose a potential threat to KBT tokens and Koinbay, including token functionality and value. Risk of mining attacks KBT tokens are at risk of miner attacks during the confirmation of token transactions in the Ethereum blockchain, including the risk of double-spending attacks, MMP attacks, and self-mining mining attacks. Any successful attack of this type puts Koinbay at risk. Risk of crack and Security Protocol Vulnerability Hackers and other organized crime groups may try to hack Koinbay and assign KBT tokens to themselves in various ways. The risk associated with unpredictable actions of regulators and law enforcement agencies Due to the imperfection of the legal framework, the legal status of KBT tokens and blockchain technologies is not clear in some jurisdictions. It is impossible to predict any law enforcement actions regarding the operation of Koinbay and the handling of KBT tokens should the legal field change in such jurisdictions. It is also impossible to foresee possible changes in legislation made by legislative bodies of various jurisdictions related to the regulation of the blockchain sphere. The possibility of such changes represents a potential risk for owners of KBT tokens. This may include, for instance, an updated requirement by a certain jurisdiction to have Koinbay conduct a compulsory KYC/ AML procedure, where it was not previously required, in order to finalize the transaction. Taxation Risk The tax component of the acquisition of KBT tokens is not clearly defined. Your purchase of KBT tokens can lead to adverse tax consequences, including income tax or other types of tax. Risk associated with the development and maintenance of Koinbay is under development and may be subject to significant changes and corrections in terms of technical operation up to the full completion of the development of the platform.