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It is ultimately up to the legislator

To summarise, find out if the Central Bank Act already has the mandate to issue a Central Bank Digital Currency (CBDC). It is nevertheless reasonable to consider getting clearer legislation reviews as to regards the Central Bank’s mandate and scope for issuing account-based and Value-based digital currencies is within the Central Bank Act. This assessment […]

Anonymity and integrity

Complete anonymity and integrity cannot technically be fully offered. It is technically possible to build a value based CBDC that can be used anonymously, that is, without the payer having to identify herself when making a payment. A pre-loaded card could also be transferred to another person after purchase, in principle when cash changes ownership. […]

Combination of new and older technology

For the CBDC to be constant spendable, it must also be possible to use it when the payer and/or payee is out of reach from their network service provider, – when they have no internet connection or telecommunications. This applies to both the account-based and value-based solution. An offline functionality, which works without risk and […]

What functions should a CBDC have?

There has been done a lot of research around the world in a broad dialogue with companies and general public authorities, in order to discuss how a proposed central bank digital currency concept should function. Those bilateral meetings were focused on how to find out how agencies and private agents could look upon a central […]

Monetary policy and financial stability

What determines the demand for central bank digital currency?  If the Central bank wanted to have a certain volume of CBDC use in normal times to ensure that the system also works smoothly in times of crisis, it would have to consider how to make the CBDC sufficiently attractive to achieve its objective. The CBDC […]

What does the law say about limits?

To be able to decide on who should have access to account-based and value-based central bank digital currencies, one must first and foremost find out what is possible with the existing legislation. Must CBDC be offered to everyone regardless of domicile, or is there an opportunity to limit access if this should prove undesirable? It’s […]

CBDC in legal terms

CBDC in legal terms. The central bank digital currency can be issued value-based, like electronic money, or account-based, a currency comparable with deposits in a bank. The design of value-based digital currency is governed by the Electronic Money Act. In legal term, most payment transactions according to a state’s Payment Service Act, a value-based CBDS […]

User Agreement

This is an agreement between the Digital Cash protector Foundation ( LEOPOLD VON GULLIOU FAMILY FOUNDATION ) a Private Interest Foundation (PIF) Recorded at the public registry office, at data card 22904, since March 19th, 2007, in the section of Private Interest Foundation. Apostille (The Hague Convention of October 5, 1961) certified in the Ministery of Foreign Affairs on March 23rd, 2007. Under Number: 133745/A  ( “Digital Cash”, “Digital Cash Network”, “we”, “us”, or “our”) and you (together with Digital Cash, the “Parties” and each a “Party”). By using any Digital Cash service, whether through idigitalcash.network, any associated website, API, or mobile application, you agree that you have read, understood, and accept all of the terms and conditions contained herein (the “User Agreement”), as well as our Privacy Policy.

1. GENERAL USE

1.1 Eligibility

By using the digitalcash.network Site and entering into this User Agreement, you affirm that you are an individual, at least 18 years of age or older, have the capacity to enter into this User Agreement, and agree to be legally bound by the terms and conditions of this User Agreement, including the Cookie Policy, the Privacy Policy and the Trading Principles as incorporated herein, as amended from time to time. In order to use the Services, you may be required to provide certain identifying information pursuant to our Compliance Program.

1.2 Modification

1.2.1 We may change the terms of this User Agreement at any time. Any such changes shall take effect when posted on the iSettle.org Site, or when you use the Services. If you have supplied us with an email address, we shall also attempt to notify you by email of changes to this User Agreement.

1.2.2 It is your responsibility to update your contact information, including but not limited to the email address provided to us (if any).

1.2.3 Read the User Agreement carefully on each occasion you use the Services. Your continued use of the Services shall signify your acceptance to be bound by the current User Agreement. Our failure or delay in enforcing or partially enforcing any provision of this User Agreement shall not be construed as a waiver of any of our rights.

Disclaimers and Limitations

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Availability of Our Services. Our Services may be interrupted, including for maintenance, upgrades, or network or equipment failures. We may discontinue some or all of our Services, including certain features and the support for certain devices and platforms, at any time.

Limited License

Limitations.  We grant you a limited, nonexclusive, non-transferable licence to access and use the Services and the digitalcash.network Site solely in accordance with the terms of this Agreement.

Credentials

Security.  You must keep secret all credentials associated with the Services. You are solely responsible for managing and maintaining the security of any information relating to such credentials and agree that digitalcash.network shall not be held responsible (and you shall not hold us responsible) for any unauthorized access to the Services or any resulting harm you may suffer.

Compliance

Security.  Your access to one or more Services may be contingent upon satisfaction of our onboarding processes as well as our Compliance Program, which may include verification of your identity  and additional information we may request from time-to-time. The information we request may include, without limitation, personally identifiable information such as network address, name, email, address, telephone number, date of birth, official government-issued identification, and or other information we may reasonably deem helpful in satisfying our risk management or legal obligations. In providing this information to us you represent that it is accurate and agree to update your User Account information promptly, but in no event later than 14 days following any change in your information. Failure to provide information or update it promptly may result in Services being unavailable to you.

Communications

Update.  Any and all communications from Digital Cash may be provided to you via electronic mail at the address you provided when accessing the Services. Digital Cash shall not be responsible for any harm you may suffer as a result of your failure to receive any notice provided to you in connection with this User Agreement or your use of Services so long as such notice is provided. isettle.org may also communicate with you through other methods, including via telephone call, instant messaging or chat applications either operated by digitalcash.network, Digital Cash, or a third party.

Does Digital Cash respond to law enforcement information requests?

Yes. Digital Cash will respond to a valid order issued from a Panama Court coordinated by the Panama Central Authority (PCA) through a request for mutual legal assistance (MLA) or letters rogatory. Forward us (i) a valid subpoena issued in connection with an official criminal investigation for the disclosure of basic subscriber records, (ii) a valid court order; or (iii) a search warrant issued under the procedures described in the Federal Rules of Criminal Procedure or equivalent Panama warrant procedures upon a showing of probable cause for the disclosure, if any.

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If you are a law enforcement agent requesting information from digitalcash.network that is likely to prevent imminent death or serious bodily harm, you may contact us on an expedited basis. Together with the appropriate documents listed above, send an email with “IMMINENT RISK” in the title. In the body of the email, include a brief attestation describing the imminent risk, and Digital Cash will try to respond on an expedited basis.

NON-US USERS and UNITED STATE USERS - No Trail

No Trial. By entering into this User Agreement, and or use digitalcash.network you expressly waive your right to Dispute, Arbitration, a Trial, and right to participate in a class action lawsuit.

Termination

Services. We may close, terminate, enable or disable any or all of the Services, your User Account or your access to the Services at any time and for any reason. You may close your User Account at any time and for any reason. Depending on the Services available to you in your User Account, we may require you to take certain actions or provide additional information prior to closing such User Account. You are solely responsible for any fees already incurred or associated with the closing of your User Account, whether incurred directly by you from Digital Cash, or incurred by digitalcash.network on your behalf with a third party in order to complete any such action. Closing your User Account may not result in the deletion of information we hold about you or your activity.

Privacy Policy

Protection infromation. Privacy is of utmost importance at the Digital Cash project Private Interest Foundation (PIS) and group of companies (“Digital Cash”). We recognize the significance of protecting information which is stored on our servers or network or is intended to be stored on our servers or network and which relates to an individual, organization, or Company. The data we protect are the “Personal Data” which is any information relating to an identified or identifiable natural person, sometimes called a data subject, and have made protecting the privacy and the confidentiality of Personal Data a fundamental component of the way we operate. This Privacy Policy informs you of the ways we work to ensure privacy and the confidentiality of Personal Data and describes the information we gather, how we use those Personal Data and the circumstances under which we disclose such information to third-parties.

This Privacy Policy is designed to address regulatory requirements of the jurisdictions in which Digital Cash (Foundation) is registered. In this Privacy Policy, the term “Service” and “Services” has the same meaning as described in the User Agreement, but excludes API services, which are governed by a separate agreement. If you do not agree with this Privacy Policy, in general, or any part of it, you should not use the Services. This Privacy Policy is periodically reviewed to ensure that any new obligations and changes to our business model are taken into consideration. We may amend this Privacy Policy at any time by posting an amended version on our website.