Trademark Notice and Voucher Unit Classification

Defined Term: "Voucher Currency®"

"Voucher Currency" is the collective term used throughout this White Paper to describe the family of trademarked VOW® discount rights / voucher units, including v$®, v€®, v£®, v₹® and other regional voucher denominations.

Each Voucher Currency is a branded digital voucher unit intended for use within participating merchant ecosystems.

The term "Voucher Currency" is an ecosystem-defined collective noun adopted for convenience and consistency. It does not imply that any Voucher Currency constitutes:

• legal tender;
• a national currency;
• electronic money;
• a stablecoin;
• a deposit;
• a payment account;
• a security; or
• any other regulated financial instrument.

The use of the word "currency" within this defined term reflects the role of these vouchers as transferable discount right instruments within participating commercial ecosystems. It does not describe their legal or regulatory classification.

Voucher Currency cannot be used to settle any purchase, debt or sale. It can only be used to discount the settlement amount itself. They are not payment instruments.

Registered Trademarks

The VOW Ecosystem Foundation is the authorised custodian of various registered trademarks used throughout the VOW ecosystem.

These include, among others:

• VOW®
• v$® and VOW DOLLAR
• v€® and VOW EURO
• v£® and VOW POUND
• Voucher Currency®
• Voucher Ledger®
• Other regional "v" denomination marks as adopted by the ecosystem.

These marks are brand identifiers used exclusively to identify digital discount rights and related services within the VOW ecosystem.

What the Symbols Mean

The symbols v$®, v€®, v£®, and similar marks are registered trademarks representing digital discount rights.

They are designed to indicate the VOW denomination of a digital discount right / voucher for use within participating merchant networks.

The symbols do not represent:

• United States Dollars (USD)
• Euros (EUR)
• Pounds Sterling (GBP)
• Any national currency
• Legal tender
• Bank money
• Electronic money
• Stablecoins
• Deposits
• Securities
• Financial instruments

The use of familiar currency symbols is intended solely to provide users with an intuitive indication of the discount right denomination associated with a discount right.

Digital Discount Rights, Not Money

Each VOW POUND represents a digital discount right / discount voucher that may be accepted by participating merchants which accept Great British Pounds in accordance with the rules of the relevant protocol or merchant programme.

A voucher unit is not intended to function as money.

Ownership of a voucher unit does not create:

• a claim against the Foundation;
• a claim against any participating merchant;
• a right to redeem the voucher for fiat currency;
• a right to receive bank deposits;
• a right to receive electronic money;
• any entitlement to interest, dividends or investment returns.

Voucher units exist solely as programmable digital vouchers.

Why Multiple Voucher Units Exist

The VOW ecosystem supports multiple voucher denominations to simplify participation across different geographic markets.

For example:

• v$® indicates a discount right / voucher intended for use within US-dollar-denominated merchant environments.
• v€® indicates a discount right / voucher intended for euro-denominated merchant environments.
• v£® indicates a discount right / voucher unit intended for pound sterling merchant environments.

These designations assist merchants and users in identifying the intended discount right denomination of a voucher.

They do not imply that the voucher:

• tracks the value of the corresponding fiat currency;
• is backed by that currency;
• is redeemable for that currency; or
• constitutes electronic money or a stablecoin.

No Fiat Redemption

Just like normal paper discount vouchers, discount rights / vouchers are not redeemable with the Foundation for fiat currency. They are not redeemable with any reward programme or any merchant for fiat currency either.

The Foundation has no obligation to purchase, redeem or exchange voucher units for:

• cash;
• bank deposits;
• electronic money;
• cryptocurrencies; or
• any other asset.

Any transfer or exchange of voucher units occurs solely through voluntary transactions between independent participants or through participating merchants operating under their own commercial terms.

No Peg or Guarantee

The VOW ecosystem does not promise or guarantee that any voucher unit will:

• maintain a fixed value;
• maintain parity with any national currency;
• maintain a specific exchange rate;
• trade at any particular market price.

Where examples are provided throughout this White Paper, they are illustrative examples intended to explain how vouchers may be used within participating merchant programmes. They do not constitute promises, guarantees or redemption commitments.

Trademark Purpose

The use of trademarked voucher symbols provides a consistent and recognisable branding system across the global VOW ecosystem.

The symbols identify the type of voucher or discount right being used and improve user understanding of the intended purchasing-power denomination.

They should not be interpreted as indicating that a voucher possesses the legal or regulatory characteristics of a currency, electronic money, deposit, payment account or financial instrument.

Regulatory Position

The Foundation considers the discount rights / voucher units identified by these trademarks to be digital voucher instruments intended for use within participating commercial ecosystems.

They are not designed, marketed or issued as:

• legal tender;
• electronic money;
• stablecoins;
• deposits;
• investment products;
• securities; or
• financial instruments.

The legal classification of any digital asset ultimately depends upon the laws and regulations applicable within each jurisdiction. Users and service providers should obtain independent legal advice regarding the regulatory treatment of digital assets in the jurisdictions in which they operate.

Summary

The symbols v$®, v€®, v£® and related marks are registered trademarks identifying digital discount rights / vouchers within the VOW ecosystem.

They are branding identifiers only.

They are not intended to denote national currencies, electronic money or stablecoins, and should not be interpreted as creating any redemption right, payment obligation or claim against the Foundation or any other person.