HNC Whitepaper 2021

Whitepaper 3.0
January 2021

DEFINITION OF WHITE PAPER (Wikipedia)
“A White Paper is an authoritative report or guide
that informs readers concisely about a complex
issue and presents the issuing body’s philosophy on
the matter. It is meant to help readers understand
an issue, solve a problem or make a decision”

INDEX
Blockchain Summary 4 - 17
Environmental Impact of PoS 18
Mission 19
Current Landscape 20 - 21
Problems of Cryptocurrencies 22 - 24
Advantages of Crypto over Fiat 25 - 27
Our solution 28 - 29
HNC Case Study 30-31
Tokenomics 32 - 33
Roadmap 2021 34
HNC Team 35 - 38
Legal Opinion 39
Legal Disclaimer 40 - 54

BLOCKCHAIN SUMMARY
Hellenic Coin (HNC) was developed in February 2015. It is a fully
decentralized peer-to-peer protocol with its own blockchain. It was a
fork of Litecoin (LTC) at its 1 st version. On January 2019 HNC became
an X11 algorithm, then it became a fork of Novacoin (NVC) and after
the last update - on January 2021 - became a BTC 2018 - 2020
version, fork of Peercoin (PPC) which is considered to be one of the
safest and fastest digital currencies worldwide.
HNC’s open source code is available on “Github” in
https://github.com/HellenicCoin-HNC

BLOCKCHAIN SUMMARY
Proof of Stake: How does it work?
The Proof Of Stake algorithm uses a pseudo-random election process to select a
node in order to be the validator of the next block, based on a combination of
factors that could include the staking age, randomization as well as the node’s
wealth. It is worth noted that in “Proof of Stake” systems blocks are said to be
“forged” rather than mined.
Users who want to participate in the forging process they are required to lock a
certain amount of coins into the network as their stake. The size of the stake
determines the chances for a node to be selected as the next validator in order to
forge the next block. The bigger the stake, the grater the chances. In order for the
process not to favor the wealthiest nodes only in the network more unique
methods have been added though into the selection process. The two most
common used methods are called “Randomized Block Selection” and “Coin Age
Selection”.

BLOCKCHAIN SUMMARY
Proof of Stake: How does it work?
In the Randomized Block Selection method the validators are selected by
looking for nodes with a combination of the lowest hash value and the
highest stake and since the size of stakes are public, the next forger can be
usually predicted by other nodes.
The Coin Age Selection method chooses nodes based on how long their
tokens have been staked for. Coin age is calculated by multiplying the
number of days the coins have been held as stake by the number of coins
that are staked. Once a node has forged a block, their coin age is reset to
zero and they must wait a certain period of time to be able to forge another
block. All this prevents large stake nodes from dominating the blockchain.

BLOCKCHAIN SUMMARY
Proof of Stake: How does it work?
When a node is being chosen to forge the next block, it checks at first if the
transactions in the block are valid, it signs the block as a 2 nd step and finally it
adds it to the blockchain.
As a reward, the node receives the transaction fees that are associated with
the transactions in the block.
If a node wants to stop being a forger, its stake - along with the earned
rewards - will be released after a certain period of time, giving the network
the necessary time in order to verify that there are no fraudulent blocks
added to the blockchain by the node.

BLOCKCHAIN SUMMARY
Proof of Stake: How does it work?
Security: Staking works as a financial motivator for the forger node in order
not to validate or create fraudulent transactions. If the network detects a
fraudulent transaction the forger node will lose a part of its stake and its
right to participate as a forger in the future. So - as long as the stake is of
higher amount than the reward - the validator would lose more coins than it
would gain in case of attempting a fraud.
In order to control the network effectively and approve fraudulent
transactions, a node would have to own a majority stake in the network -
also known as the 51% attack. Depending on the value of a cryptocurrency
this would be unpractical as - in order to gain control of the network - you
would need to acquire 51% of its circulating supply. The main advantages of
the “Proof of Stake” algorithm are energy efficiency and security.

BLOCKCHAIN SUMMARY
ADVANTAGES OF PROOF OF STAKE
Safety: This design alleviates some of the concerns of Bitcoin’s 51%
assumption where the system is considered secure only when good
nodes control 51% of total network mining power at least.
First the cost of controlling significant stake might be higher than the
cost of acquiring significant mining power, thus raising the cost of
attack for such powerful entities.
Also attacker’s coin age is consumed during the attack, which may
render it more difficult for the attacker to continue preventing
transactions from entering main.

BLOCKCHAIN SUMMARY
Advantages of Proof of Stake
Checkpoint: Protection of History Transactions
One of the disadvantages of using total consumed coin age to determine
main chain is that it lowers the cost of attack on the entire blockchain of
history. Another concern is that the cost of double-spending attack may have
been lowered as well as attacker may just need to accumulate certain
amount of coin age and force re - organization of the blockchain.
Introducing an additional form of checkpoints that are broadcasted centrally,
- in much shorter intervals such as a few times on a daily basis - to serve to
freeze blockchain and finalize transactions. This new type of checkpoint is
broadcasted similar to Bitcoin’s alert system

BLOCKCHAIN SUMMARY
Advantages of Proof of Stake
Block Signatures & Duplicate Stake Protocol
Each block must be signed by its owner in order to prevent the same proofof-stake
from being copied and used by attackers.
A duplicate-stake protocol is designed to defend against an attacker using a
single proof of stake to generate a multitude of blocks as a denial-of-service
attack.
Each node collects the (kernel, timestamp) pair of all coinstake transactions it
has seen. If a received block contains a duplicate pair as another previously
received block, PoS ignores such duplicate-stake block until a successor block
is received as an orphan block.

BLOCKCHAIN SUMMARY
Advantages of Proof of Stake
Energy Efficiency
When the proof-of-work mint rate approaches zero there is less incentive to
mint proof-of-work blocks.
Under this long term scenario energy consumption in the network may drop
to very low levels as disinterested miners stop mining proof-of-work blocks.
The Bitcoin network faces such risk unless transaction volume/fee rises to
high enough levels in order to sustain the energy consumption.
Under PoW & PoS design the network is still protected by proof-of-stake
even if energy consumption approaches to zero.

BLOCKCHAIN SUMMARY
Advantages of Proof of Stake
Conclusion
Proof of Stake was designed to become a potentially more competitive form
of peer-to-peer cryptocurrency to proof-of-work designs due to the
elimination of dependency on energy consumption, thereby achieving lower
inflation/lower transaction fees in comparable network security levels.

BLOCKCHAIN SUMMARY
HNC has undergone a source code’s update - BTC 2018/2020 edition - fork of
Peercoin - on January 2021. Someone can get benefited by staking the coin, by
downloading the private wallet from our official website, store the HNCs there
and keep it open on a 24/7 basis ideally. A minimum profit of 1% on HNC will be
deposited automatically on the HNC wallet as an annual reward.
HNC’s total supply is limited to 69.600.000 coins - plus the 1% generated ones
from the staking procedure on a yearly basis. The mining procedure of HNC has
already been completed.
HNC is a completely decentralized digital currency. It is an encrypted & private
cryptocurrency as well as a public & a private key are only needed in order for a
transaction to be executed. Transactions are irreversible creating thus a further
step to prevent fraudulence.

BLOCKCHAIN SUMMARY
Time efficiency is another characteristic of Hellenic Coin, as you can make
global payments within 2’ minutes.
Your private key ensures your absolute ownership of the respective wallet
address.
Your personal information is always hidden as well as your Hellenic Coin
address is fully transparent - with no sensitive information attached.
HNC’s capacity on transaction executions is 10.000 transactions / minute.
HNC’s wallets and blockexplorer were also updated on January 2021.

BLOCKCHAIN SUMMARY
Mining
Proof of Work (PoW) & Proof of Stake (PoS) is the Scrypt hybrid
consensus algorithm that HNC utilizes. Mining is the process by which
transactions are verified and they are being added to the public ledger -
known as blockchain. New Hellenic Coins are being created through
blockchain.
Transactions must be included in a block. Miners then verify these
transactions through Proof-of-Stake. The miners check incoming
transactions against previous transactions on the blockchain. If no doublespending
is detected, then the miners create a block with new transactions
and add it to HNC's existing blockchain.

BLOCKCHAIN SUMMARY
Mining
Each new block is then being sent to the network’s nodes. The nodes use
the miners' work in order to continue to verify and transmit transactions
across the network.
When a transaction is made, it is then groupped with other ones that have
already been submitted within one of these cryptographically-protected
blocks.
Miners solve rather complex mathematical problems, passing the data
within a block through the algorithm until their collective power finds a
solution.

Environmental Impact of Proof of Stake (PoS)
Although PoS blockchains still utilize cryptography, their energy
consumption is dramatically much lower than PoW - driven
alternatives.
On PoS blockchains the required processing power is much lower as
the miners do not need to solve extremely complex puzzles in order
to prove their work.
As such, many experts of the crypto - industry have begun exploring
PoS as well as other energy-efficient alternatives in response to
growing environmental awareness.

MISSION
HNC’s unique mission is to enter into the real economy & become a trusted
alternative mean of payment for goods & services.
GOALS FOR FULFILLING THE MISSION
• By being supported from a MasterCard and/or a Visa Card
• By being exchangeable on Crypto - ATMs
• By developing HNC’s own Pos Terminal connected with merchants.
• By being listed on major exchanges like Kraken, Coinbase Pro etc
• By issuing a Security Audit & a Legal Opinion
• By creating a Legal Entity
Furthermore, HNC is already supported by “Coinomi” e-wallet as well as a
native e-wallet for Android & iOS will be developed for storing, sending &
accepting HNCs.

CURRENT LANDSCAPE
Since its inception in 2009 the cryptocurrency market has marked a tremendous
growth. Within the last 12 years the market capitalization of all cryptocurrencies &
tokens has risen to $1 trillion at its peak (January 2021), easily dwarfing almost
every corporation in the “S&P 500” as well as the GDP of many countries.
In nowadays there is a huge push to be the next big thing in the crypto-industry. It
is widely accepted that blockchain is world’s most innovative technology & also
that cryptocurrencies will be defined as assets by the authorities.
Banks, corporations, funds & big investors have changed amazingly their point of
view towards the cryptocurrencies & they have become crypto - friendly by
investing huge amounts on cryptos. Even Governments are planning to digitalize
their fiat currencies.

CURRENT LANDSCAPE
Big crypto-exchanges have already been regulated & licensed in order to
support legit services on a safer environment, providing trading pairs with
fiat money as well as bank services, like SEPA transfers & Swift.
Custody of cryptocurrencies is included on their services too.
Futures of cryptocurrencies are available in Wall Street, Crypto - CFDs are
provided by many platforms to their users as well as margin for trading
Cryptocurrencies is also available in big regulated & licensed exchanges.
Regulations & tax issues about cryptocurrencies are going to be set in the
coming years by Governments & Central Banks, KYC will be obligatory &
Cryptocurrencies won’t be so “crypto” eventually.

PROBLEMS OF CRYPTOCURRENCIES
Government regulation is inevitable
Government reactions to cryptocurrencies have ranged from aggressive to
indifference with investors & speculators cautiously monitoring international
developments. Just recently Head of the International Monetary Fund (IMF) -
Christine Lagarde - stated that regulatory action upon cryptocurrencies is
"inevitable“ on behalf of the international community.
There is an issue of inheritance
The unregulated nature of Bitcoin means that without the keys - needed to view
a relative’s digital wallet - there is no way of accessing his/her funds if they are
about to pass away.

PROBLEMS OF CRYPTOCURRENCIES
There is a Security Risk
Crypto - exchanges are digital and therefore vulnerable to hackers, operational
glitches & malware.
By hacking a crypto - exchange, hackers can gain access to thousands of accounts
& digital wallets where the cryptocurrencies are stored into.
One infamous example was the Mt. Gox’s hacking incident in 2014. After this
hacking the Japanese exchange stopped its operation & millions of dollars in
Bitcoin were stolen.

PROBLEMS OF CRYPTOCURRENCIES
There is a Market Risk
As with any other investment the value of cryptocurrencies can fluctuate.
This should be of no surprise.
Within their short time of presence, the cryptocurrencies have seen fierce
swings in value & an extreme sensitivity to headlines due to the big
number of amateur investors.
If there is a continued resistance to the adoption of Bitcoin & other
cryptocurrencies they may lose value. Experts, investors & rookie traders
will continue to speculate as to the future of cryptocurrencies. All we can
know is that it is going to be an interesting journey for sure.

ADVANTAGES OF CRYPTO OVER FIAT
Low Storage & Transfer Cost
Compared to the traditional banking services, cryptocurrencies have no storage
cost. In the aspect of the transfer of money cryptocurrencies are better than fiat
currencies. As the cryptocurrencies’ price increases, the transfer amount of fees
increase too. But it will still be cheaper - compared to Fiat currency.
Its division allows small transactions
You can execute the smallest portions of transactions very easily. In the case of
fiat currency this is not possible.

ADVANTAGES OF CRYPTO OVER FIAT
Globality
The cross border transaction with uniform value is not possible in the case of fiat
money. In the case of cryptocurrencies this is possible though. The fiat money is
limited to the borders of their respective countries while the cryptocurrencies
are movable without any restrictions. On the opposite side - in the case of fiat
currency - this procedure is not possible.
Zero government interference
Cryptocurrencies cannot be controlled by any central authority of any country.

ADVANTAGES OF CRYPTO OVER FIAT
Impossibility to falsify
Fraudsters cannot create fake cryptocurrencies. The reason is that it is a digital
currency & not a paper currency, like the fiat money. Cryptocurrencies are
powered by blockchain technology and the details of each & every transaction
are recorded in it.

OUR SOLUTION
A cryptocurrency is successful when it succeeds to be adopted by merchants as
a mean of payment & get used by many consumers.
Currently the cryptos are only traded speculatively and their volatility is very high.
Almost all of them are following the same trend as they are so similar to each
other.
By focusing on entering into the real Greek economy in the beginning, Hellenic
Coin will solve the issue of demand that cryptocurrencies really face. That is
because every other crypto is based on speculative reasons as mentioned
above. HNC will create perpetual demand - day by day, year by year & so on. A
problem that no other crypto has never solved so far!

OUR SOLUTION
Utility of a coin
All cryptocurrencies are facing the challenge of usability in the real
economy & they want to be accepted as means of payment for goods and
services.
Perpetual demand
Hellenic Coin is planning to be accepted by many Greek merchants &
gradually worldwide. Entering into the real economy will have the same
value to investors as fiat money & a perpetual demand will be created.

HNC CASE STUDY ON TOURISM SECTOR
In 2019 more than 30.000.000 tourists visited Greece as well as predictions
for 2020 were even more optimistic. Nevertheless, Coronavirus effect
changed totally our lives & our predictions.
Our target is to attract and convince only the 1% of tourists (consisted of 300.000
people) to use Hellenic Coin for their transactions in hotels, “rent a car” industry
and many more activities by taking advantage of the special offers (discounts or
“free” days) provided by the affiliate business partners of Hellenic Coin.
This means that – assuming that these 300.000 tourists are couples - we have
150.000 couples booking their rooms with HNC. That is 150.000 rooms - with an
average of 3 nights booking for each room - which makes us 450.000 rooms with
a cost of minimum 20€/room. We have a total of 9.000.000€ that must be paid
with HNC.

HNC CASE STUDY ON TOURISM SECTOR
This means that 9.000.000€ have to be invested in HNC.
Please note that our estimations are based on a pessimistic scenario -
only 1% of tourists to use HNC, only 3 nights booking for each room & 20€
cost per night only.
According also to “Wikipedia”, Greece’s GNP of 2019 was of 192,74B. Our
target is just the 0,10% of the GNP to be held by HNC transactions within
the next 5 years. This means that 192,24M revenues will be executed with
HNC.
We are strongly commited in dealing with the biggest Greek merchants in
order HNC to be accepted as a mean of payment.

TOKENOMICS
2015 I.C.O Τoken Allocation
Marketing: 1.500.000 HNC
Team: 5.000.000 HNC
Bounty: 1.500.000 HNC
Tokens’ Sale: 7.500.000 HNC
Today's Token structure:
- Total supply: 100.000.000 HNC - February 2015
- Pre - mined: 15.500.000 HNC (15,5%)
- Mineable: 84.500.000 HNC (84,5%)
Allocated for sale: 7.500.000 HNC (2.512€ raised)
Allocated for marketing: 1.500.000 HNC
Allocated for the team:
5.000.000 HNC
Allocated for bounty campaign: 1.500.000 HNC
Token sale Marketing Team Bounty

TOKENOMICS
2015 Tokens’ Sale Analytics
7.500.000 HNC were sold in the following price levels:
4.000.000 HNC in 0.00000250 BTC (1 BTC = 762€) - 502 investors
2.000.000 HNC in 0.00000550 BTC (1 BTC = 840€) - 262 investors
1.500.000 HNC in 0.00000750 BTC (1 BTC = 910€) - 158 investors
1.500.000 HNC in 0.00000750 BTC
4.000.000 HNC in 0.00000250 BTC
2.000.000 HNC in 0.00000550 BTC
0.00000750 BTC 0.00000250 BTC 0.00000550 BTC

2021 Q1
• Integration of HNC in the
European Crypto – ATM industry
• Use of HNC in more than
10.000.000 merchants globally
• Exploring the possibility of listing
HNC on major Exchanges –
hardware wallets (“Kraken”,
“Bitstamp”, “Nano”, “Trezor” etc)
• Creation of Legal Entity for
HNC’s multiple activities
• Official release of the new
HNC Website
• Completion of Security Audit
• Official delivery of Legal
Opinion
• Trial period of HNC Prepaid
MasterCard & official launching
2021 Q2
ROADMAP 2021
2021 Q3
• Aggressive promotion &
marketing campaign in the
Greek market
• Focus on Tourism & Shipping
sector
• Development of a Hotel
Booking Platform
• Release of Roadmap 2022
2021 Q4

HNC CORE TEAM

HNC CORE TEAM

HNC ADVISORS

HNC ADVISORS

LEGAL OPINION
A report by the Ex - Chairman
of the Hellenic Capital Market
Commission & our Legal Advisor,
Mr. Konstantinos Botopoulos:
View our Legal Opinion

LEGAL DISCLAIMER
PLEASE READ CAREFULLY THIS SECTION AND THE FOLLOWING
SECTIONS ENTITLED "DISCLAIMER OF LIABILITY”, "NO
REPRESENTATIONS AND WARRANTIES BY HNC“,
"REPRESENTATIONS AND WARRANTIES BY YOU”, "CAUTIONARY
NOTE ON FORWARD-LOOKING STATEMENTS“, "NO ADVICE”,
"RESTRICTIONS ON DISTRIBUTION AND DISSEMINATION“, "NO
OFFER OF SECURITIES OR REGISTRATION" AND "RISKS AND
UNCERTAINTIES”. IF YOU ARE IN ANY DOUBT AS TO THE ACTION
YOU SHOULD TAKE YOU SHOULD CONSULT YOUR LEGAL,
FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S).

LEGAL DISCLAIMER
The HNC Tokens (collectively the "Tokens") - as defined in the White
Paper - are not intended to constitute securities in any jurisdiction. This
White Paper does not constitute a prospectus or offer document of any
sort and it is not intended to constitute an offer of securities or a
solicitation for investment in securities in any jurisdiction.
This White Paper does not constitute or form part of any opinion on any
advice to sell or any solicitation of any offer by HNC. To purchase any
Token nor shall it or any part of it nor the fact of its presentation form the
basis of - or be relied upon in connection with - any contract or Token
purchase decision.

LEGAL DISCLAIMER
No person is bound to enter into any contract or binding legal commitment
in relation to the sale and purchase of the Tokens and no cryptocurrency
or other form of payment is to be accepted based on this White Paper.
Any agreement as between the distributor and you as a purchaser and in
relation to any sale and purchase of the Tokens - as referred to in this
White Paper - is to be governed by only a separate document setting out
the terms and conditions ("T&Cs") of such agreement. In the event of any
inconsistencies between the T&Cs and this White Paper the former shall
prevail.

LEGAL DISCLAIMER
No regulatory authority has examined or approved of any of the
information set out in this White Paper. No such action has been or will be
taken under the laws, regulatory requirements or rules of any jurisdiction.
The publication, distribution or dissemination of this White Paper does not
imply that the applicable laws, regulatory requirements or rules have been
complied with.

LEGAL DISCLAIMER
DISCLAIMER OF LIABILITY
To the maximum extent permitted by the applicable laws, regulations and rules
HNC and/or its affiliates shall not be liable for any indirect, special, incidental,
consequential or other losses of any kind, in tort, contract or otherwise - including
but not limited to loss of revenue, income or profits, and loss of use or data -
arising out of or in connection with any acceptance of or reliance on this White
Paper or any part thereof by you.
NO REPRESENTATIONS & WARRANTIES BY HNC
HNC does not make or purport to make - and hereby disclaims - any
representation, warranty or undertaking in any form whatsoever to any entity or
person, including any representation, warranty or undertaking in relation to the
truth, accuracy and completeness of any of the information set out in this White
Paper.

LEGAL DISCLAIMER
REPRESENTATIONS & WARRANTIES BY YOU
By accessing and/or accepting possession of any information in this White Paper
or such part thereof - as the case may be - you represent and warrant to HNC
and/or its affiliates as follows:
A. You agree and acknowledge that the Tokens do not constitute securities in any
form in any jurisdiction;
B. You agree and acknowledge that this White Paper does not constitute a
prospectus or offer document of any sort and it is not intended to constitute an
offer of securities in any jurisdiction or a solicitation for investment in securities
and you are not bound to enter into any contract or binding legal commitment
and no cryptocurrency or other form of payment is to be accepted on the basis of
this White Paper;

LEGAL DISCLAIMER
C. You agree and acknowledge that no regulatory authority has examined
or approved of the information set out in this White Paper, no action has
been or will be taken under the laws, regulatory requirements or rules of
any jurisdiction and the publication, distribution or dissemination of this
White Paper to you does not imply that the applicable laws, regulatory
requirements or rules have been complied with.
D. You agree and acknowledge that this White Paper, the undertaking
and/ or the completion of the Token Sale or future trading of the Tokens on
any cryptocurrency exchange shall not be construed, interpreted or
deemed by you as an indication of the merits of HNC, its affiliates, the
Tokens and the Token Sale.

LEGAL DISCLAIMER
E. The distribution or dissemination of this White Paper or any copy thereof or
acceptance of the same by you is not prohibited or restricted by the applicable
laws, regulations or rules in your jurisdiction and where any restrictions in relation
to possession are applicable you have observed and complied with all such
restrictions at your own expense and without liability to HNC and/or its affiliates.
F. You agree and acknowledge that in the case where you wish to purchase the
Tokens are NOT to be construed, interpreted, classified or treated as: (I) any kind
of currency other than cryptocurrency (II) debentures, stocks or shares issued by
any person or entity (whether HNC and/or its affiliates), rights, options or
derivatives in respect of such debentures, stocks or shares (III) units in a
collective investment scheme (IV) units in a business trust (V) derivatives of units
in a business trust or (VI) any other security or class of securities.

LEGAL DISCLAIMER
G. You have a basic degree of understanding of cryptocurrencies, blockchain
based software systems, cryptocurrency wallets or other related token storage
mechanisms, blockchain technology and smart contract technology
H. Υou are fully aware and understand that in the case where you wish to purchase
the Tokens there are risks associated with HNC and its affiliates, their respective
business and operations, the Tokens and the Token Sale
I. You agree and acknowledge that neither HNC nor its affiliates is liable for any
indirect, special, incidental, consequential or other losses of any kind, in tort,
contract or otherwise (including but not limited to loss of revenue, income or profits,
and loss of use or data), arising out of or in connection with any acceptance of or
reliance on this White Paper or any part thereof by you and all of the above
representations and warranties are true, complete, accurate and non- misleading
from the time of your access to and/or acceptance of possession this White Paper
or any part thereof - as the case may be.

LEGAL DISCLAIMER
CAUTIONARY NOTE ON FORWARD LOOKING STATEMENTS
This White Paper may contain certain forward-looking statements including,
but not limited to, statements as to future operating results and plans that
involve risks and uncertainties. We use words such as "expects”,
"anticipates“, "believes“, "estimates" the negative of these terms and similar
expressions to identify forward looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of
the HNC, its affiliates and/or the HSC Foundation to differ materially from
any future results, performance or achievements expressed or implied by
those projected in the forward-looking statements for any reason.

LEGAL DISCLAIMER
NO ADVICE
No information in this White Paper should be business, legal, financial or tax
advice regarding HNC, its affiliates, the HSC Foundation, the Tokens and
the Token Sale. You should consult your own legal, financial, tax or other
professional adviser regarding HNC, its affiliates and/or the HSC Foundation
and their respective businesses and operations, the Tokens and the Token
Sale. You should be aware that you may be required to bear the financial
risk of any purchase of the Tokens for an indefinite period.

LEGAL DISCLAIMER
RESTRICTIONS OF DISTRIBUTION
The distribution or dissemination of this White Paper or any part thereof may be
prohibited or restricted by the laws, regulatory requirements and rules of any
jurisdiction. In the case where any restriction applies you are to inform yourself
about and to observe any restrictions which are applicable to your possession of
this White Paper or such part thereof - as the case may be - at your own expense
and without liability to HNC, its affiliates and/or the HSC Foundation. Persons to
whom a copy of this White Paper has been distributed or disseminated, provided
access to or who otherwise have the White Paper in their possession shall not
circulate it to any other persons, reproduce it or otherwise distribute this White
Paper or any information contained herein for any purpose whatsoever nor permit
or cause the same to occur.

LEGAL DISCLAIMER
NO OFFER OF SECURITIES OR REGISTRATION
This White Paper does not constitute a prospectus or offer document of any
sort and is not intended to constitute an offer of securities or a solicitation for
investment in securities in any jurisdiction. No person is bound to enter into
any contract or binding legal commitment and no cryptocurrency or other
form of payment is to be accepted on the basis of this White Paper. Any
agreement in relation to any sale and purchase of the Tokens is to be
governed by only the T&Cs of such agreement and no other document. In
the event of any inconsistencies between the T&Cs and this White Paper,
the former shall prevail.

LEGAL DISCLAIMER
No regulatory authority has examined or approved of any of the information
set out in this White Paper. No such action has been or will be taken under
the laws, regulatory requirements or rules of any jurisdiction. The
publication, distribution or dissemination of this White Paper does not imply
that the applicable laws, regulatory requirements or rules have been
complied with.

LEGAL DISCLAIMER
RISKS AND UNCERTAINTIES
Prospective purchasers of the Tokens should carefully consider and
evaluate all risks and uncertainties associated with HNC, its affiliates, the
HSC Foundation and their respective businesses and operations, the Token
and the Token Sale, all information set out in this White Paper and the T&Cs
prior to any purchase of the Tokens. If any of such risks and uncertainties
develops into actual events, the business, financial condition, results of
operations and prospects of HNC, its affiliates and/or the HNC team could
be materially and adversely affected. In such cases you may lose all or part
of the value of the tokens.