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STORECOIN PRIVACY POLICY FOR THE PRIVATE PLACEMENT OFFERING MEMORANDUM

Last updated: December 3, 2018

I. POLICY APPLICATION

The following agreement (“Privacy Policy”) is between Storecoin (as defined below) and users participating in the Identify Verification Process required to comply with Storecoin’s private placement of electronic forward contracts for issue of tokens upon their initial release (“Token Sale”) as described in our Private Placement Offering Memorandum.

A. Storecoin and associated entities

The policies in this statement apply to Storecoin, Inc., Footprint Labs Inc., their subsidiaries and affiliates (collectively, “Storecoin”). This policy and any updates to the policy in the future shall also include all current and future subsidiaries or affiliates of Storecoin (including, but not limited to Storecoin, Inc., the Storecoin Foundation, Footprint Labs Inc., and any Footprint Labs subsidiaries around the world.). These entities may include both for-profit and non-profit organizations.

Storecoin may assign or transfer this Privacy Policy, as well as information covered by this Policy, in the event of a merger, sale, change in control, or reorganization of all or part of our business.

B. Users

Users include individuals submitting personally identifiable information as part of the Identity Verification Process per the terms of the Token Sale.

II. PURPOSE OF DATA COLLECTION

Storecoin’s mission is to expand commerce and trade by eliminating transaction fees in payments. Through governance, the p2p protocol can evolve to power compute for smart contracts, to zero-fee transactions in the cash register, and beyond. The data Storecoin collects as part of its Identify Verification Process is required to comply with a wide range of national laws and regulations regarding the issuance of securities and prevention of money laundering.

Users that submit data to Storecoin as part of this process trust us to protect and secure that information. This Privacy Policy explains what data Storecoin collects, how we store that data, and how we share that data.

This Privacy Policy is limited to the data collected as part of the Identify Verification Process necessary to participate in the Token Sale. It does not include information collected on Storecoin’s website, which is covered by a separate policy, or data collected through other mechanisms for purposes not directly related to materials submitted in order to participate in the Token Sale.

B. NOTIFICATION OF CHANGES

Storecoin reserves the right to update this Privacy Policy at our discretion. Any changes we believe will materially impact the privacy of user data will be published online noting the effective date of any changes and, should it be necessary, to obtain consent for those changes. To be sure that you are up to date, please check the Storecoin website periodically, or you can be notified by email if you sign up for our general newsletter on the Storeco.in website.

III. THE INFORMATION COLLECTED

In order to comply with different national laws and regulations to execute the Token Sale, Storecoin must conduct an identity verification check. An identity verification check requires individuals to provide personally identifiable information. This information includes biographical information, images of government-issued identifications (e.g. a passport) and, comparing that information with information provided by appropriate government agencies.

The entire process involves three entities: Storecoin, Onfido, and government authorities.

A. DATA COLLECTION

Storecoin collects three pieces of information from users in order to complete the form located at storeco.in/kyc: First Name, Last Name, and email address. Users submit this data via Storecoin’s website, where we may use third-party service providers to manage the data.

Storecoin also embeds a third-party widget in our website. This widget operates as a form to collect the data used for the purposes of the Identity Verification Process. The third-party vendor that collects and stores the data submitted in this form is Onfido (www.onfido.com). Click here to read Onfido's privacy policy.

The data collected by Onfido includes personally identifiable information, images uploaded by the user (e.g. a picture of their passport), and data collected from other third parties (e.g. government authorities). This data is stored on Onfido's servers and falls under Onfido's Privacy Policy. Storecoin does not collect, store, or manage this data.

Because Onfido is responsible for the collection and storage of the materials used for the Identify Verification Process, we encourage users to read the Onfido privacy policy if they have any questions.

Similarly, data provided by government entities is outside of Storecoin’s domain. Because Onfido manages data collected from third-party government authorities, we encourage users to read the Onfido privacy policy for additional information regarding the use of data provided by government authorities.

B. DATA SHARING

Storecoin may share information with other third parties contracted to perform tasks on our behalf for the purpose of the Identity Verification Process. Onfido, for example, is a contracted third party. Where legally possible, Storecoin takes steps to protect the information shared with third parties by including privacy and security safeguards in contracts on the recipients of the information.

Third party service providers

Storecoin may also share information with external parties, in addition to Onfido, that are performing tasks on our behalf (including our affiliates), and with other companies, organizations, government bodies, and individuals outside of Storecoin where we have a legitimate legal reason for so doing. For example, if additional information is required as part of the identity verification process.

Government Data Requests

Where required by applicable law, Storecoin may be legally obligated to disclose a user's information to a government authority. This might include when Storecoin is required to disclose personal information to respond to court orders, legal process, or subpoenas; or, to establish or exercise our legal rights or defend against legal claims. Any request Storecoin might receive by government authorities must strictly adhere to the due process of United States law and be subject to judicial oversight.

Other Data Sharing

Storecoin values transparency. As part of those values, we strive to disclose as many possible use cases where Storecoin reserves the right to share data. A non-exclusive list of ways that we reserve the right under this Privacy Policy to share data includes,

  • Within entities associated and affiliated with Storecoin; defined for the purposes of this Privacy Policy as Storecoin, Inc., the Storecoin Foundation, Footprint Labs Inc., and any Footprint Labs subsidiaries around the world, both today and in the future;
  • In the event of a merger, sale, change in control, or reorganization of all or part of Storecoin’s business;
  • If Storecoin determines there is a good-faith belief that sharing is necessary to investigate, prevent, or take action regarding illegal activities, suspected fraud, situations involving potential threats to the physical safety of any person, violations of Token Sale terms or applicable laws or regulations, or as otherwise required to comply with our legal obligations; or
  • As users may consent to in the future.

IV. YOUR DATA

Please contact Storecoin if you would like to access a copy of your information we maintain, or to have your information deleted, at [email protected]

Please be aware that Storecoin only stores First Name, Last Name, and email address. Requests to manage other data, such as images and personally identifiable information collected as part of the Identify Verification Process are maintained by Onfido, and all requests regarding that data must go directly to Onfido.

Children’s Personal Information

We do not knowingly request of collect personal information from any person under the age of 18. If a user submitting personal information is suspected of being younger than 18 years of age, Storecoin will not allow participation in the Token Sale.

California Privacy Rights

If you are a California resident, you have the right to request information from us regarding the manner in which we share certain categories of your personal information with third parties for the third parties' direct marketing purposes. California law provides that you have the right to submit a request to us at our designated address and receive the following information: (a) the categories of information we disclosed to third parties for the third parties' direct marketing purposes during the preceding calendar year; and (b) the names and addresses of third parties that received such information, or if the nature of their business cannot be determined from the name, then examples of the products or services marketed.

You are entitled to receive a copy of this information in a standardized format and the information will not be specific to you individually. You may make such a request by emailing [email protected]

V. ENGLISH LANGUAGE CONTROLS.

This policy is only in in English. For a non-English translation, please contact Storecoin using the contact information below. Please be aware that any non-English translation of this Policy is provided for convenience only. In the event of any ambiguity or conflict between translations, the English version is authoritative and controls.

VI. CONTACT STORECOIN

If you would like more information about how Storecoin collects and uses information, please contact Storecoin at [email protected], or send a letter by post to:

Attention: Privacy
Storecoin Inc.
340 S. Lemon Avenue, Suite 9117
Walnut, CA 91789

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KYC/AML checks are required for securities law compliance. This will be a Reg D and Reg S global offering.

DISCLAIMER

Nothing herein is intended to be an offer to sell or solicitation of offer to buy, Storecoin tokens or rights to receive Storecoin tokens in the future. In the event that Storecoin conducts an offering of Storecoin tokens (or rights to receive Storecoin tokens in the future), Storecoin will do so in compliance with all applicable laws which may include the Securities Act of 1933 and the rules and regulations promulgated thereunder, as well as applicable state and foreign law. Any offering for sale to US Persons in a regulated transaction will be pursuant to a registration statement qualified by the Securities and Exchange Commission, or an applicable exemption from the registration requirements.

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