The purpose of this project is to provide a convenient platform for cryptographic asset enthusiasts and investors around the world to use as much as possible without violating the relevant laws and regulations of various countries.It is prohibited to use the project to engage in money laundering, smuggling, commercial bribery and other illegal trading activities. If such incidents are found, legal proceedings will be filed and submitted to the competent authorities.
The Columbu team believes that there are numerous risks involved in the development, maintenance and operation of Columbu, many of which are beyond the Columbu team’s control.In addition to the other contents of this white paper, each pass-through holder shall read, understand and carefully consider the following risks.
Each Columbu credential holder should pay particular attention to the fact that Columbu is developed and co-managed by the community, that Columbu and its credential exist only in cyberspace and have no physical presence, and therefore do not belong to or involve any particular country or group.
If you receive or hold Columbu by any means, you shall be deemed to have fully known and agreed to accept the following risks:
Cryptographic tokens are being or may be regulated by authorities in different countries.The Columbu team may from time to time receive inquiries, notices, warnings, orders or rulings from one or more competent authorities, and may even be ordered to suspend or terminate any action regarding the proposed public sale, the Columbu development or the Columbu license.Columbu’s development, marketing, publicity or otherwise may be seriously affected, hindered or terminated.Because regulatory policy is subject to change, any existing regulatory license or tolerance for Columbu in any country may be temporary.In different countries, pass-through may at any time be defined as virtual goods, digital assets, or even securities or currencies, and may therefore be prohibited from trading or holding in some countries in accordance with local regulatory requirements.
Cryptography is evolving and cannot guarantee absolute security at any time.Advances in cryptography (such as cryptography) or technological advances (such as the invention of quantum computers) may pose a danger to systems based on cryptography (including Columbu).This may result in the theft, theft, disappearance, destruction, or depreciation of any card held by any person.To the extent reasonable, the Columbu team will be prepared to take preventive or remedial measures of its own, upgrade Columbu’s underlying protocols in response to any advances in cryptography, and, where appropriate, incorporate new reasonable security measures.The future of cryptography and security innovation is unpredictable, and the Columbu team will try to adapt to the changing landscape of cryptography and security.
Development fails or gives up
Columbu is still in development, not ready for release. Due to the technical complexity of the Columbu system, the Columbu team may face unpredictable and / or insurmountable difficulties from time to time. Therefore, the development of Columbu may fail or give up at any time for any reason (for example, due to lack of funds)
No one can guarantee that Columbu’s source code is completely flawless.The code may have flaws, errors, bugs, and vulnerabilities that may prevent the user from using specific features, expose user information, or cause other problems.Such defects, if any, would undermine Columbu’s availability, stability and/or security, and thereby adversely affect the value of the certificate.Open source code is based on transparency to facilitate code identification and problem solving from the community.The Columbu team will work closely with the close Columbu community to continuously improve, optimize and refine the Columbu source code in the future.
No access permission, distributed and autonomous ledger
In contemporary blockchain projects, there are three popular types of distributed ledgers: ledgers without permission, ledgers with alliances, and ledgers with private ownership.The underlying distributed ledger at Columbu has no access, meaning it is freely accessible and used by all without access restrictions.Although Columbu was originally developed by the Columbu team, it is not owned, operated or controlled by the Columbu team.The Columbu community, which was formed spontaneously, is completely open, decentralized, and accessible without barriers to entry, and is made up of users, fans, developers, licenseholders, and other participants around the world, most of whom are not affiliated with the Columbu team.Columbu will be decentralized and autonomous in terms of its maintenance, governance, and even evolution.The Columbu team is merely an active member of the community on an equal footing with others, with no sovereign or arbitrary authority, even though it has worked and contributed to the birth of Columbu in the past.Therefore, how Columbu governs and evolves after publication will not be dictated by the Columbu team.
The Columbu source code is open source and may be updated, modified, modified or modified from time to time by any member of the Columbu community.No one can predict or guarantee the exact results of an upgrade, correction, modification or change.Therefore, any upgrade, amendment, modification or change may result in unforeseen or unexpected results that may have a material adverse impact on the operation of Columbu or the value of the certificate.
Columbu blockchain is based on open source software and is a distributed ledger without permission.In spite of the efforts of the Columbu team to secure the Columbu system, it is possible that any person may have intentionally or unintentionally brought weaknesses or flaws into the core infrastructure elements of Columbu that the Columbu team could not have prevented or remedied through the security measures it has adopted.This may eventually result in the loss of participants’ passcards or other digital tokens.The rapid development of Columbu will be accompanied by a sharp increase in trading volumes and the demand for processing capacity.If the demand for processing power exceeds the load that can be provided by the then node within the blockchain network, Columbu may be paralyzed and/or halted, and fraud or erroneous transactions such as “double costs” may result.In the worst case, anyone holding a pass could lose it, a blockchain rollback or even a hard fork could be triggered.The fallout from these events will undermine Columbu’s usability, stability and security, and the value of its credentials.
Access wallet private key
The loss or destruction of the private key necessary to obtain the pass is irreversible.The pass-through can be manipulated only if the wallet has a unique public and private key, either locally or online.Each holder shall properly keep the private key of its passbook wallet.If such private keys of the holder of the pass are lost, lost, leaked, damaged or stolen, the Columbu team or any other person shall not be able to assist the holder in obtaining or retrieving the pass.
The value of the pass depends largely on the popularity of Columbu.Columbu is not expected to become popular, popular or widely used in the short time since its launch.At worst, Columbu could be marginalised for a long time, attracting only a small number of users.In contrast, a large part of the demand may be speculative.The lack of users may lead to increased price volatility in the stock market and affect Columbu’s long-term development.The Columbu team does not (and has no responsibility to) stabilize or influence the market price of the paper when such price volatility occurs.
It is not a currency issued by any individual, entity, central bank or national, supranational or quasi-national organization, nor is it backed by any hard assets or other credit.It is not the Columbu team’s job or pursuit to certify the circulation and trading in the marketplace.Transactions in the pass-through are based only on a consensus of value among the relevant market participants.No person shall be obliged to redeem or purchase any certificate from the holder of the certificate and no person shall be able to guarantee to any extent the liquidity or market price of the certificate at any time.If the holder of the pass wishes to transfer the pass, the holder shall seek one or more buyers who wish to purchase at a mutually agreed price.The process can be costly, time-consuming, and ultimately unsuccessful.In addition, there may be no cryptographic token exchange or other online marketplace for public trading.
When traded on the open market, cryptocurrency prices typically fluctuate wildly.Price shocks often occur in the short term.The price may be in bitcoin, ether, us dollars or other legal tender.Such price fluctuations may be due to market forces (including speculation), regulatory changes, technological innovations, exchange availability, and other objective factors. They also reflect shifts in the balance between supply and demand.The Columbu team is not responsible for any secondary market transactions, whether or not there is one.As a result, the Columbu team is under no obligation to stabilize the price volatility of the paper and does not care about it.The risk involved in the price of the pass-through transaction shall be borne by the pass-through trader.
Columbu’s underlying protocol is based on the open source Linux underlying basic protocol.There is no claim to copyright or other intellectual property rights in the source code.Therefore, any person can legally copy, copy, remakes, design, modification, upgrade and improve, recoding, reprogramming or otherwise using Columbu source code and/or the underlying protocol, to try to develop competitive protocol, software, system or virtual machine, virtual platform to compete with Columbu, or even surpass or replace Columbu.The Columbu team has no control over this.In addition, there are and will be many competing blockchain-based platforms competing with Columbu.Under no circumstances can the Columbu team eliminate, prevent, limit or reduce such competitive efforts to compete with or replace Columbu.