modltoken.io

Whitepaper for MODULE JP ver. 1.0© Touch Answer Limited. All Rights Reserved.

1

IndexDisclaimer of Liability
1.

Executive Summary

2.

Introduction

3.

Technology

4.

MODULE Application5.

About the Utility Token

6.

Use Cases

7.

Token — MODL

8.

Marketing strategy

9.

Road Map

10.

Team and Advisors

11.

Risks

12.

Outro

© Touch Answer Limited. All Rights Reserved.

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Disclaimer of Liability
This document is a White Paper that describes present and future development, with forwardlooking statements that are not deterministic or assertive, and which may be subject to changes
and updates. This document is only intended to provide information, and, unless explicitly specified,
the products and technologies described in this document are under development. There is no
guarantee that this development or other related activities will lead to a successful outcome.
The creators have included their current forecast in this document, which is subject to risk anduncertainties, as it is based on factors such as the public information on possibilities, businessstrategies, plans, future business objectives, laws, regulations and technologies at the time of
publishing. Actual results may differ significantly from the contents explicitly or implicitly impliedin this document.
The creators of this document have no obligation, and do not accept any responsibility, to update orchange any forward-looking statements based on new information or other subsequent events. In
light of the existing uncertainty and potential conflicts of interests, we do not recommend that you
rely solely on the future prospects and forecasts included in this material. For individual economic
decisions and inquiries concerning taxation, please consult with your legal and tax advisors.
Additionally, the Module Token (Currency Symbol: MODL) does not have the properties of asecurity. The objective of this White Paper is not to solicit investments, and does not represent acall for investment in securities.

© Touch Answer Limited. All Rights Reserved.

31. Executive summary

MODULE is a blockchain-based platform designed to utilize the free storage of smartphones, PCs,servers, etc. as an asset. Using the MODULE platform, one will be able to participate in mining evenfrom a smartphone. Servers and enterprises can also participate in mining.

Module’s consensus (mining) algorithm makes it possible to earn rewards by lending out storage
space. As the storage capacity of devices progresses and expands, one can expect the various services offered to expand. In addition to issuing new original coins, users will also be able to develop Dapps (decentralized applications) on the platform.

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2. Introduction
Due to their vast potential, cryptocurrencies are currently attracting global attention. There arestill problems, however, such as the power consumption of PoW (Proof-of-Work) and centralizationof PoS (Proof-of-Stake). Numerous cryptocurrencies are working on improvements on a daily basis. Nevertheless, to date no fundamental solution has been reached, as the improvements tend
to remain inside the conventional framework of blockchain.

Miners who possess equipment, obtainedby huge investing into it, monopolize profits

As one can obtain the right for approval
because of the amount of currency possessed,
the liquidity of the currencies is violated, andthe gap between rich and poor is growing

VS
ASIC

GPU
RewardCapitalism

RewardPoW

Centralization

PoS

There is a paradox on the cryptocurrency market. Small groups of people with a huge amount of
capital possess cryptocurrencies, which runs counter to the original idea of the virtual currencies
ushering in an era of decentralization. As a result, blockchain today has become centralized, andmay have squandered the opportunity to spearhead financial reform and lost its true value in theprocess. In this sense MODULE is about to implement true decentralization.
The more cryptocurrency a person possesses, the more influence he/she can exert over the market, thus contributing to inequality and widening the gap between rich and poor. Miners who areable to invest heavily possess the necessary equipment, and monopolize profits.

In this sense MODULE is about to implement true
decentralization© Touch Answer Limited. All Rights Reserved.

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2. Introduction
About platform
Platform is a basic part of products and services. For example, home video game consoles or portable game consoles
are the platform. Game software which can enjoyed on the
consoles is a service.

Game types differ depending on the type of a console. A
platform is usually a “basis”, specializing in a certain genre.

The MODULE platform will combine various parts and will
be useful for developing distributed applications.

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2. Introduction
About MODULE
About the MODULE platform
MODULE employs a new transaction approval algorithm. It is a new technology platform that enables everyone to participate in mining, even from a mobile device. In addition to building DApps,
users will also have the ability to issue new currencies on the platform.

DApps

BlockChain

Mobile Device
Original Token

Original Application
PC

ServerPoSTT (Proof of Space, Time and Transaction)© Touch Answer Limited. All Rights Reserved.

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2. Introduction

We focused on mobile devices as a way to solve problems such as the power consumption concerns caused by cryptocurrencies and their centralization. The Module project announces the future of mining with such energy-efficient and easy to use devices such as smartphones and tablets.
By releasing the capacity of your device, you will be able to earn rewards, which will vary depending on the capacity of free storage, utilization time, space and transaction type. In other words,
lending of storage space will make you eligible for compensation. The platform also has great potential as a platform that can provide other distributed application services.

© Touch Answer Limited. All Rights Reserved.

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2. Introduction
The Future According to MODULE

Although the popularity of cryptocurrencies hasrisen, there are still very few chances to use themin real life. Bitcoins can be used at some shops, etc., but the required infrastructure is still underdevelopment. We want to bring cryptocurrencies into the mainstream.
The MODULE developers have devised a new algorithm. The team is developing a system underwhich compensation is determined based on three elements of storage: space-timetransaction.
This will enable users to participate in mining from mobile devices such as smartphones.
In our future, not only people living in developed countries will have the opportunity to participate
in mining. We hope to have many people holding smartphones in underdeveloped countries acting as miners and receiving rewards. For many people in developed countries, mining that bringsin only one dollar a day may be meaningless, but we believe that this can drastically change thelife of people in poorer countries.

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2. Introduction
About Storage Surplus
Can you imagine how much storage in the world is not used?

Assumption:
Mobile storage:

32GB on average

Percentage of storage utilization:

50%

Total number of mobile devices:

Approximately 2 billion

16GB
Unused(16GB)

2 billion
mobiledevices

Approximately
32 billion GB

Unused resources

Effective use in the MODULE platform

That means we have vast storage resources on the planet that are being wasted. MODULE is theplatform that intends to use these storage resources. We aim to become an environmentally friendly platform by effectively utilizing unused assets.

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103. Technology
Overview
The PCSN (P2P Cloud Storage Network), which made client-side encryption possible, enables auser to transmit and share data without having to rely on a third party’s storage space. The elimination of central control can alleviate problems such as traditional data errors and power cuts,
while significantly increasing security, privacy and data control. Earlier, the P2P network was notsuited for building a storage system. With this system we solve the inherent problems by implementing direct payment (Suggested solution) — (Method similar to the response verification system). This will enable data authenticity to be checked on a regular basis, and compensation to be
paid for the data stored in PEER. We also propose an address access model and independence inthis system, as well as the ability for the nodes to aggregate.

Introduction
Cloud storage is used to provide massive storage space, which plays the same role in data storage
and transmission as verified third-party organizations. However, the problem with this system isthat it is a TRUST-BASED model. This is not only because client-side encryption is uncommon, butalso because up to now clouds have suffered from the loss of personal data and confidential information due to attacks by hackers who were aware of the vulnerability of the server and programs to malware. As many storage servers rely on the same infrastructure, there is the risk thatmalware could affect the entire system via files.
A distributed storage network has advantages over a cloud-based server. Data security is maintained through client-side encryption, while the reliability of data is maintained through proof of
decryption. It is also possible to significantly reduce the impact of server malfunctions and security violations (security risks). The introduction of more advanced devices and the use of a constantly growing number of devices will allow the cost of data storage space to be reduced.
Data on the network will be highly resistant to any unauthorized changes, unauthorized access ordata errors. A more detailed description is given below.

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113. Technology
Unique mining method “PoSTT”~ Proof of Space, Time and Transaction
Overview of the PoSTT Proof of Space, Time and Transaction) protocol
The POSTT protocol creates a decentralized storage network with its own coins (or tokens) provided by P2P.
Clients will use the tokens for storing and transmitting data, and miners will mine the coins (tokens) used for data storage, services, etc.
New way of mining proposed by MODULE

Getting rewards

Server

Providing free storage space

SmartphonePC© Touch Answer Limited. All Rights Reserved.

123. Technology
Consensus Algorithm
The POSTT decentralized storage network can perform data storage and data transfer (downloading etc.) functions across two markets. The two markets are the data storage market and the dataservice market. A client and a miner determine the service price, form an ORDER in the market,
and process each ORDER.
This market is developed by POSTT, which includes both POS (Proof of Space) and POTT (Proof ofTime and Transaction). Users will be able to store their data safely for any period of time they want.
Finally, miners will support the blockchain by generating new blocks, and the opportunity for miners to earn rewards for exerting influence on the new blocks will be proportional to the storage
space, time, and the number of transactions currently provided to the network.

Zero line

Smartphone(storage)

Making new blocks

The transaction data is
only stored to the blocks— Time— Space (Storage)— Transaction© Touch Answer Limited. All Rights Reserved.

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3. Technology
1. About the PoSTT block chain mechanism
The PoSTT blockchain was born from the idea to introduce blockchain technology to existing cloudbased servers. The existing client-server solution is plagued by problems of server management
costs and hacker attacks. In a client-server solution, the user’s data are stored in the client’s server, and data may leak or be destroyed if the server is attacked. However, this data security problem can be resolved by distributing and storing the user’s data using the P2P method on blockchain. Besides, data can be stored at a lower cost.

Nodes participating in the PoSTT block chain
Node that is requesting data storage (Verifier): a node that attempts to divide data andstore it in the P2P network
Node that provides storage capacity (Farmer): a node that provides storage capacity on
the P2P network and receives rewards (coins) for data storage
Node which maintains the blockchain (Miner): a node that verifies the transaction history and smart contract, generates blocks and maintains the blockchain

Miner

Block 1

Block 2Block 3Block nP2P network
Verifier

FarmerVerifier

FarmerVerifier

FarmerBridge server© Touch Answer Limited. All Rights Reserved.

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3. Technology
Mechanism of the PoSTT blockchain
1.

The PoSTT blockchain has its own coin.
The Verifier will pay the cost of storing the data with this coin, and the Farmer will receive
coins as compensation for providing storage capacity to store the data. This means that the
PoSTT blockchain has a transaction function associated with the sending and receiving ofcoins.

2.

The Verifier and the Farmer also conclude a smart contract related to storing each other’sdata, so that the Verifier and the Farmer can safely perform data processing. In other words,
blockchain stores smart contracts related to transactions with coins (transmission/reception)and data management. To do so, the Farmer possess the address of the token for the smart
contract. There is also a bridge server which exists separately from blockchain.

The Bridge server monitors the current P2P network and blockchain, and acts as a relayer thatchooses which Farmer’s network the data from the Verifier should be stored and informs the Verifier of this.

Blockchain

Smart contract
Issuing

Verifier

FarmerIssuing

Verifier

FarmerIssuing

Verifier

3.

FarmerFinally, there is the Miner, who maintains the blockchain.
The Miner 1) checks the content of the smart contract related to the transaction of createdcoins and uploading/downloading the data, and 2) generates the block. The Miner implements
the Farmer’s calculation logic for the compensation payment and issues coins to the Farmer
when the block is created.

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3. Technology
Time

The provision ofSpace up to now

Farmer 1

RewardRewardRewardRewardFarmer 2

RewardThe provision ofTime up to now

Block 1

Block 2Block 3Block n

The number ofTransactions up
to now

Farmer 2

Miners who
are generating
blocks4.

Block n+1

Bridge server (hereinafter referred to as the Bridge)
The Bridge forms the connection between the Farmer and the Verifier. The Bridge stores only
MetaData, not the personal data of the Verifier. The Bridge periodically checks the status of
the Farmer and monitors the accuracy and validity of the data stored in the Farmer’s network,
the status of the data and the payment relationship. By providing API, the Bridge gives otherblockchain developers the opportunity to extend various functions of the PoSTT blocks. Using this API, the developer can check the current state of the blockchain state and so on, anddevelop various programs using the PoSTT blockchain. The Bridge also includes algorithms
such as file status, setting the criteria for the selection of a Farmer, and so on. In addition,
the Merkle Tree function will establish mutual trust between the Farmer and the Verifier andserve as verification of file accuracy.

Transfer of data fragment
Authentication of saving data
Performing a Smart Contract with the corresponding token address

Verifier

Transfer of Farmer information (IP info, etc.)

Acquisition of Farmerʼs information

Request for Farmer selection

Selection of Farmer

Bridge server

Farmer© Touch Answer Limited. All Rights Reserved.

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3. Technology
2. Reward system in PoSTT and the process of uploading/downloading data
The reward system in the PoSTT blockchain is as follows.
In the PoSTT blockchain, the reward is proportional to the size of the data, the time for which the data is stored in
the node (Farmer) that provided the storage, and the volume of transactions.

Process of uploading data
A node that attempts to store data (the Verifier) encrypts the data and then breaks it into fragments of a set size.
It then requests information on a Farmer from the Bridge. The Farmer will generate a smart contract associated withthe data, and will have the token address.
The Bridge transfers the token address and IP address of the Farmer that is best suited to the Verifier. The Verifier
uses the Farmer’s IP address to transfer the corresponding piece of data to the Farmer, who stores it, and executes
the smart contract using the Farmer’s token address. The Bridge constantly monitors whether the Farmer hascorrectly saved the data, and periodically checks the accuracy of the Farmer’s data after that.
After confirming that the data was correctly stored, the Bridge transfers the information about the stored datafragment to the Verifier. Once that is done, the Farmer will receive a reward based on the size of the data stored in
the Farmer’s network, the time that the data is stored, and the number of data transactions.

Verifier
Encryption anddivision

Bridge server

FarmerBlockchain

Farmer N

Request for Farmer selection
Farmer selection

Acquisition of info
about Farmer

Transfer of Farmer info
(Token, IP etc.)

Request for storing data fragments
Confirmation of saving data fragments
Storing
Farmer’s info

Performing a Smart Contract with the corresponding token address

Regular check of theaccuracy of the data

Confirmation of
Smart Contract execution

Results of thedata accuracy check
Copying the fragment data to another Farmer

Acquisition of info aboutanother Farmer

Notification about storage contents of fragment data

Storing another
Farmer’s info

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3. Technology
Process of downloading data
The Verifier acquires data for downloading from the information on the data fragment received
from the Bridge when saving the data.
The information on the Farmer storing the Verifier’s data fragment is saved in the Verifier’s network. In order to download the data, the Verifier executes the smart contract using the Farmer’s
token address. This means that coins are also payed when data is downloaded from the Farmer’s
network. The Verifier downloads the data fragments from the Farmer using the IP and token addresses and combines them, then decodes the data to obtain the original data.

Verifier

Bridge server

FarmerBlockchain

Confirmation of theFarmerʼs info

Execution of the smart contract with the corresponding token address
Execution and confirmationof the smart contract

Request for the data fragments

Transmission of the data fragments

Combination andcomposition© Touch Answer Limited. All Rights Reserved.

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3. Technology
3. About Gas and the PoSTT fee
All transactions and smart contracts processed in the PoSTT blockchain can be seen as scripts. For
example, looking at a simple transaction, transactions can be seen as a combination of opcodes.
The meaning of the opcode is the minimum unit constituting the script of the transaction. As an
example, when we see the instruction “Push PublicKey”, it is a simple command to enter the PublicKey to the stack.
In this case, the transaction, being a combination of instructions as seen above, can issue the verification code of the transaction as a script. This script is executed by the virtual engine on blockchain, and can confirm the accuracy of the transaction as the execution result of the script.
Here, Gas is the amount of coins necessary to execute the opcode, which is the smallest unit constituting the script of the transaction. Both transactions and smart contracts can be seen as a combination of opcodes (i.e. as scripts).
In other words, Gas can be seen as the cost of processing the opcode, which is the smallest execution unit constituting the script.
Why is Gas necessary?
When there is no Gas, that is, when there is no cost to execute the opcode, a malicious attacker candestroy the virtual engine on blockchain by inserting code that will repeat infinitely in the script.
By adding a cost-per-execution unit to prevent this, it is possible to prevent various malicious attacks by adding expenses proportional to the length of the script command.
How is the commission calculated in the PoSTT blockchain?
In the current PoSTT blockchain, 10^15 wei is equal to 1 coin.
1 gwei is 10^9 wei.

Maximum cost
1 coinGas Limit
50,000Gas Price
20 gwei© Touch Answer Limited. All Rights Reserved.

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3. Technology
Let’s assume that the Gas Price (gas price) is 20 gwei. Users do not know the exact number of opcodes for transactions when generating the transactions. We will introduce a value called the GasLimit. One Gas corresponds to one opcode. The user sets the GasLimit to 250 and generates atransaction. In this case, the user will pay only 250 * 20 gwei as a commission.
If the number of transaction opcodes is actually 80, then 250-80 = 170, so 170 will not be used. In
this case, the cost corresponding to 170 * 20 gwei will be returned to the creator of the transaction.
As a result, the actual fee is only 80 * 20 gwei.
The following chart reflects the example above.

Execution of
opcode250

Executingtransaction

Execution of
opcode249

170

Transaction
completion

The cost corresponding to 170*20 gwei is refunded

In the above example, the user sets the GasLimit to 250 to generates a transaction, and the actual gas required does not exceed 250.
However, the gas actually required for transactions may exceed the GasLimit set by the user. Let’s
assume that the user has set the GasLimit to 250 for the transaction, but the actual required gas
exceeds 250.
In this case, the transaction will end without being executed, and coins corresponding to 250 gas
will not be converted for the sender (= the user who generated the transaction).

250

Executingtransaction

Execution of
opcodeExecution of
opcodeExecution of
opcode249

10Transaction stops as it is,no refund

There is one more problem which must be considered. It is the problem of compensation for the
Miner. In other words, the actual fee will be the “number of opcodes * gas price + the miner’s fee”.

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4. MODULE App
MODULE App image

Information on theGraph explaining thestorage space of thenumber of tokens mined,
device, lended storage, lended storage space,time, etc.
time, transactions“Founding” model(see next page formore information)

Storage and verification of tokens; managementof deposits and withdrawals*All screens are under development. Actual services may differ© Touch Answer Limited. All Rights Reserved.

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5. About the utility token“Founding” model

Request for adplacement

Clients

MODULE App

Exchange

Browsing
advertisements

End Users
Modl token

Any currency© Touch Answer Limited. All Rights Reserved.

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6. Use cases
MODULE App — data storage service
MODULE is suitable for storage of sensitive information because its distributed storage keeps
data in fragments in many different places. It can be used to store information that should be kept
secret from others.
In particular, by storing information in a distributed store like MODULE, one can enhance
information security through “secret sharing”. In other words, if sensitive information is divided
into fragmentary pieces of information and stored in separate places, information cannot be
reproduced with only one fragment, but if several pieces are gathered, the information can be
reproduced. This Secret Sharing method will be used in blockchain, and to build secure cloudstorage for the safe storage of sensitive information.
The technique for concealing documents recorded in blockchain through the management ofsecret sharing keys has already been developed. One obstacle to utilizing blockchain to handle
sensitive information was the fact that information on blockchain must be disclosed to the entire
community of users. However, by combining blockchain technology and secret sharing, one can
expect higher security and convenience. In this way blockchain can be used in various fields suchas finance, distribution, in the supply chain, official document management, etc.

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6. Use cases(Encryption, separation, distribution of data)

Secret sharing

Data
Algorithm of encryption: ECC
Using ECC (Elliptic-Curve Cryptography) which is difficult todecipher with a quantum computer
Compression ratio: 30~50%
Encrypted and compressed data
Dispersion of data
File is split into a set file size
(1 file: XXX bytes)
Splitting ofencrypted data

Decentralized Network (block chain)

Encrypted and split files
are dispersed randomly
Storage of a smartphone

Duplication of data (copying)
C1~C10, C1~C100, etc., which
create a set number of file copies
Class of number is set after
verification© Touch Answer Limited. All Rights Reserved.

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6. Use cases(Data distribution)
Spreading files from the storage devices
which are the closest to distributed files

File

Storage© Touch Answer Limited. All Rights Reserved.

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7. Token
Token - MODL
Ticker symbol:

MODL

Token during ICO:

ERC-20Type:

Utility token

Total emission:

15,000,000,000MODL

Price per 1 token:

1MODL = 0.008 USD

40%

30%

Development

Recruiting

Softcap:$ 5 000 000
Hardcap:$ 18 000 000
Total emission:
15,000,000,000 tokens

30%

For distribution:

Marketing

2,250,000,000 tokens

Token allocation15%
public
sale

15%
team&
advisors

5% 5%private ICO
presale incentives

60%
mining© Touch Answer Limited. All Rights Reserved.

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8. Marketing strategy
The goal of the project is to create the Module economic zone.
To use a publicly available blockchain to connect the world
PHASE

1

MODL App — development of the product•

After testing is finished, the beta version will be distributed in December
•

PHASE

2

PHASE

3

PHASE

4

Internal testing of the beta version is planned for October 2018

Official release in Google Play, App store in January 2019

The value of MODL PF is tied to the number ofdownloads•

A feature of our project is that a token holder is automatically a
MODL user The beta version of “MODL App” will be distributed
to users who purchased MODL tokens, and the value of MODL
will grow along with the number of downloads of the application.

•

The App will be distributed with the help of influencers to maximize
user acquisition. Press release in Asia is planned for August 2018.

MODL PF operation•

Advertising model, crowdfunding, etc. We will release unique content in which users can participate.

Expansion of the economic zone through token
economy•The Module economic zone will be created through the acquisition of users and expansion of content worldwide.

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27

9. Road map
May 2018
Management of the token saleParticipation in Consensus 2018
Start of Module platform development
Start of MODL App development
July 16, 2018
Start of presale
July 31, 2018
End of presale
August 1, 2018
Start of ICO
September 30, 2018
End of ICO
October 2018
Listing on exchange
Start of development of the Secret Sharing service
October 2018
Building of mining server
Testing of MODL App beta version
November 2018
Testing of Module platform
December 2018
Start of Module platform operation
Distribution of MODL App beta version
January 2019
MODL App in Google Play and App Store© Touch Answer Limited. All Rights Reserved.

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10. Team
Engineering

ToshikiTashiroAlam Jahangir

Honbo Kei

Mitsugu
Saito

TakuyaYamagishi

Jack Lee

Masafumi
Watanabe

Hiromasa Saito

Yoshimitsu
Tsukui© Touch Answer Limited. All Rights Reserved.

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10. TeamManagement

Yoshitomo Kikuchi

Yuichi Yoshida

Koji Takane

Marina Kazakova

MarketingTechnology

Eisuke MatsumotoMarketingMarketing

Press

Advisors

Hiroki Owada

Senior Project Advisor

Seiichi Hosaka

Legal Advisor/GeneralCounselNick Evdokimov

BLOCKCHAIN ADVISER

Hiroki Kato

Marketing adviser© Touch Answer Limited. All Rights Reserved.

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11. Risks
About Risks
It is strongly recommended that investors willing to participate in the ICO read and understandthe following disclaimer and ICO risk factors before participating. Those living in countries where
ICOs are prohibited cannot participate in this ICO. Those who have never owned a virtual currency.
•

Those who have no knowledge of virtual currency;•

Elderly people over the age of 75;•

Individuals under the age of 18;•

Those who need guardians or custodians;•

Persons whose investment experience in securities such as stocks and bonds, derivatives etc.
is less than one year;•

Residents of developed countries whose financial assets are less than USD 100,000;•

Residents of developing countries whose financial assets are less than USD 30,000;•

Those who intend to convert 50% or more of their financial assets into tokens in this ICO;•

Individuals whose identity/status is unclear;•

Those who try to impersonate someone else to join the ICO. This includes those who do notcomply with the laws of their country of residence.

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11. Risks
1. Price fluctuation risk
The price of the token depends on the performance of the token issuer, the success or failureof the business plan, current prices, the foreign exchange market, trends on the securities market and other markets, natural disasters, war, political changes, regulation enhancement. It may
be influenced by the spread of other virtual currencies, or by unforeseen or extraordinary future
events. The value of the token held by the customer may drop significantly compared to the purchase price or lose value if the business plan of the token issuer does not progress as planned oris abandoned, or due to poor management.

2. Funding at the initial stage of the project
An ICO is often performed to collect funds before or at the beginning of the project that the token
issuer is planning to develop in the future. The success or failure of the project is often very uncertain at the token purchase stage, and if the planned project fails, the customer may lose all of
the contributed funds.

3. Risks inherent in the issued tokens
Tokens are not legal currencies such as US dollars, British pounds, euros, Japanese yen etc. In manycases, there is no specific person who could guarantee its value. In addition, there is a possibility
that risks, such as program bugs, are inherent in the token itself.

4. Liquidity risk
Transactions may become impossible or difficult due to market trends or the volume of transactions with tokens, or may be conducted at an unfavorable price. If a specific person does not guarantee the value of the tokens, the tokens may lose their value due to a fall in liquidity.

5. Risks of Cyber-Attack
There is a risk that account authentication information may be leaked due to a cyber-attack, andthat the tokens held by the customer may be remitted without permission.

6. Risks posed by the network
Token transactions are not recognized until the completion of sufficient transaction confirmation(authentication of the transaction in blockchain), so the tokens will be on hold for a certain period of time. This may result in the customer’s transaction not being reflected in the account managed by the customer, or in the customer’s transaction being canceled before the transaction is
successfully confirmed in the network. As the tokens are registered electronically and their relocation is performed by the network, there is a risk of their loss.

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32

11. Risks
7. Risks caused by changes in legislative / tax systems
The laws and system of taxation of ICOs and tokens are currently changing. ICOs may be prohibited in the future, or the tax restrictions may be made more stringent due to changes in laws, regulations, tax systems or policies. There is the risk that the possession of and transactions with tokens will be restricted, or that the handling of tokens may be more disadvantageous compared tothe current situation, and in this case customers may suffer unexpected losses.

8. Ohter risks (including, but not limited to the following)
There is the risk that a third party may masquerade as a token issuer, display an unauthorized virtual currency address, or try to fraudulently obtain the virtual currency bought by the purchaser.

• The terms “virtual currency” and “cryptocurrency” used in this document are synonymous in a
broad sense.

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12. Outro

Imagine that your smartphone, an indispensable part of your everyday life, becomes a machine.
By developing a new consensus algorithm called Proof of Space, Time and Transaction (PoSTT),
the MODULE team proposes an innovative technology which will enable people all over the world
to easily participate in mining. In a word, we want to bring more joy to this world through Module,
and make the world a better place by developing this technology. There is no doubt that the innovative technology called blockchain and the IT sphere itself will continue to develop in the future.
If it is actively used, the platform may replace existing database applications and content delivery
services. We want to contribute to creating a world where anyone can make any ideas and services
real. As a first step to creating this world, our team accepts the challenge of conducting an ICO.
MODULE is about to throw a big stone in the lake of the cryptocurrency market. The thrown stone
will cause ripples, and when our thoughts take real shape and people get to know them, we will
be able to make a change in the world.

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