Terms of Use

Terms of Use

of the Visible Money application


Provider and Operator of the VisibleMoney.org web application:


Business name:

VM DevOps s. r. o.

Head Office:

Bizetova 454/1, Nitra 949 11, Slovak Republic

ID no.:

54 534 895


Business Register of the District Court Nitra, Section: sro., item no.: 57244/N



Phone number:

+421 951 070 178



1.1         The capitalized terms in these Terms of Use have the following meanings:

Application means the web application VisibleMoney.org operated and managed by the Provider on the Website [ https://visiblemoney.org ]. The Application is primarily intended to provide the Users with transparent information about the financial and property status of Public Persons. The Users can audit the disclosed information about the financial and property status of Public Persons through the Application with the aim of revealing potential inaccuracies or incompleteness of said information.

Auditing is one of the functionalities of the Application, through which the authorized Users can audit the available information about the financial and property status of other Users, especially Public Persons.  

Copyright Act means Act No. 185/2015 Coll., Copyright Act, as amended.

Availability is the state in which the functions of the Application are available to the User according to the parameters and under the conditions defined in Article 9 of Terms of Use.

GDPR means the REGULATION (EU) 2016/679 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, which repeals Directive 95/46/EC (General Data Protection Regulation).

License means the right of the User to use the Application according to the licensing conditions specified in Article 7 of the Terms of Use.

Visitor is any natural person who visits the Website.

Civil Code means Act No. 40/1964 Coll. Civil Code, as amended.

User’s Personal Data are any personal data that the User provides to the Provider when using the Application.

Identity Verification means the process of identifying the User and verifying his/her identity through the Identity Verification Provider.

Privacy Notice means a notice in which the Provider provides the Data Subjects with information in accordance with Articles 13 and 14 of the GDPR.

Partner means a User who cooperates with the Provider in operating the Application or providing services related to the operation of the Application.

Terms of Use means these Terms of Use of the Application and the Website.

Identity Verification Provider is a legal entity that provides an online service to the Provider to remotely verify the User’s identity.

Provider is the company  VM DevOps s.r.o., with registered office at Bizetova 454/1, Nitra 949 11, Slovak Republic , ID: 54 534 895 .

User means a natural person who, following a successful Registration, is authorized to use the Application. Users also include Public Persons.

Registration is the process in which the User fills out the registration form in order to create an Account and gain access to the Application. Successful registration requires an activation of the Account in accordance with Article 3.5 of the Terms of Use.  

Registration form means the form available on the Website, which represents the User’s order addressed to the Provider to access and use the Application.

Server means a cloud server managed by the Provider through a third party, on which the code to use the Application is located.

Consumer means any natural person who does not act within the scope of his/her business activities or other business activities when concluding and performing the Agreement.

Contracting Parties is a joint reference to the Provider and the User.

Account is an account created for the User following a successful Registration in the Application through which the User can use all its functions.

Public Persons are publicly active persons who in some way participate in the exercise of public authority (i.e. politicians, civil servants, judges, etc.), and publicly known persons who excel in certain activities or are known to the public because of their involvement in certain matters of public interest (e.g. celebrities, athletes, etc.).  

Website means the Provider’s website https://visiblemoney.org .

Alternative Dispute Resolution Act means Act No. 391/2015 Coll. on alternative resolution of consumer disputes and amendments to other legislation.

Consumer Protection Act means Act No. 250/2007 Coll. on consumer protection and amendments to other legislation and the Slovak National Council Act no. 372/1990 Coll. on offenses, as amended.

Personal Data Protection Act means Act No. 18/2018 Coll. on the protection of personal data and amendments to other legislation, as amended.

Agreement means an agreement concluded between the Provider and the User in electronic form, the subject of which is the regulation of rights and obligations of the Contracting Parties when using the Application.


2.1         These Terms of Use regulate the use of the Application and the Website, and are binding for the Provider, User and, to a limited extent, for the Visitor.

2.2         By concluding the Agreement in accordance with these Terms of Use, these Terms of Use become an integral part thereof, and their current and amended wording shall be binding for the Contracting the Parties in its entirety.

2.3         By concluding the Agreement, the Provider undertakes to make the Application available to the User on its Server and enable the User to use the Application in accordance with Article 5  of the Terms of Use, and grant the User a License for the duration of the Agreement.

2.4         The User pledges and undertakes to use the Application exclusively and solely within the scope of the License and in accordance with these Terms of Use.

2.5         Only natural persons who have reached the age of 18 on the Registration Date can become Users.

2.6         The Application and Website are protected by copyright. The Provider is exclusively authorized to (i) exercise its property rights to the Applications and the Website and (ii) grant a License for the use of the Application. Unauthorized use of the Application in violation of the licensing terms specified in Article 5  of these Terms of Use or the content of the Website by any person without the written consent of the Provider shall be construed as a violation of the Provider’s copyright and may fulfill the material nature of copyright infringement as a criminal offense according to the provisions of Article 283, Act no. 300/2005 Coll. Criminal Code, as amended. In such cases, the Provider is entitled to compensation for damages incurred by such actions and/or exercise other rights arising from the Copyright Act and other legal regulations.


3.1         The Contracting Parties conclude the Agreement in electronic form by filling out and sending in the Registration Form. The Registration Form submitted according to the previous sentence of this Article constitutes a binding order by the User to access and use the Application. Following a successful submission of the Registration Form, the Agreement is concluded without the need for an additional confirmation of the order by the Provider.

3.2         The User undertakes and pledges to provide correct, complete, true and up-to-date information in the Registration Form and notify the Provider in writing of any changes to his/her identification data provided in the Registration Form. The User is obliged to fill in all mandatory fields in the Registration Form, in particular: email, phone number, title, first name, last name, date of birth, gender, place of residence and password.

3.3         The User is obliged to read the Terms of Use and Privacy Notice before submitting the Registration Form. The current and effective wording of the Terms of Use and Privacy Notice is always available on the Website.

3.4         By submitting the Registration Form, the User confirms that he/she has read, understands and fully agrees with the Terms of Use and Privacy Notice, the rights and obligations of the Contracting Parties and the Terms of Use of the Application.

3.5         The User must activate his/her Account after submitting the Registration Form. To activate the Account, it is necessary for the User to verify his/her e-mail address and phone number entered in the Registration Form. Verification is performed in the Account by entering the activation codes that the Provider sent to the User’s email and phone number. If the Account is not activated, the User can only use the Application to a limited extent, and is not allowed to interact with other Users.

3.6         During the registration process, the User is also obliged to select the relevant level of transparency, which will allow other Users to use the Auditing functionality. The transparency levels are divided into four categories:

·     No transparency: Other Users do not have access to the data of the relevant User.

·     Public Auditor: The relevant User may only be audited by the Users selected by the relevant User. 

·     Transparency after consent: The relevant User will disclose his/her data to other Users after his/her prior consent.

·     Full transparency: The data of the relevant User are accessible to all Users.

3.7         When registering in the Application , Public Persons must successfully pass the Identity Verification Process according to the instructions of the Identity Verification Provider. During the Identity Verification Process, the Public Person is obliged to provide the Identity Verification Provider with all personal data that are absolutely necessary to verify his/her identity, in particular his/her identification data and an identity document.

3.8         Identity Verification is voluntary for Users other than Public Persons. However, the Provider or Public Persons may require Identity Verification from Users to be able to use certain functionalities of the Application (e.g. Auditing of certain Users).


4.1         A successful Registration, based on which an Account is created for the User, is a precondition for using the Application.

4.2         The User logs into the Account by entering his/her e-mail address and password, which he/she provided in the Registration Form. 

4.3         The User declares and undertakes to protect the login credentials to the Account and not to provide them to persons without an authorization to use the Application, unless the Contracting Parties agree otherwise.  The User can only grant access to the Application to authorized persons who have properly familiarized themselves with the use of the Application.

4.4         The User may only use the Application for the intended purpose and in a manner that corresponds to its proper use.

4.5         The User is solely responsible for all activities within the Application, in particular for Auditing, sending private notifications to other Users and publishing the information that was made accessible by other Users.

4.6         The Application interface is divided into the following sections:

4.6.1     Private Dashboard in which the User can access:

(i)            Basic User Data and his/her status in the Application,

(ii)          Private Notifications whose aim is to navigate the User to actions in the Application,

(iii)         Public Notifications accessible to all Users, and

(iv)         Comments of other Users on the respective User.

4.6.2     My Data, in which the User can update his/her personal data.

4.6.3     Assets, in which the User can enter data about his/her assets. This section is divided into the following subsections:

(i)            Asset Profiles,

(ii)          List of Assets,

(iii)         Overview of Assets,

(iv)         Development of Asset Value, and

(v)          Publication of Asset Data to the Blockchain, which makes the data visible in the Auditing module.

4.6.4     The Audits and Transparency section, in which the User can set privileges for the audit of his/her data or browse the list of audit requests. This section is divided into the following subsections:

(i)            Transparency Settings: these allow the User to modify the degree of transparency and the Public Person role.

(ii)          Audit Permissions: these allow the User to view the list of other Users who have been granted the audit rights. Within the Audit permissions, the User can grant 4 types of rights, namely:

·     rights to full transparency – granted to all Users.

·     temporary rights for a one-time audit – granted to a specific User for a short limited period.

·     PUBLIC_AUDITOR rights – granted to the User who needs the rights to perform audits of the User’s data as a public auditor.

·     SELF_AUDIT rights – a technical record that the system automatically generates when the User opens the self-audit module.

(iii)         Requests for Self-Audit: contains a list of requests to perform a User audit.

(iv)         My Audits (the so-called MAudits): contains a list of audits that were performed on the User’s data. 

(v)          Request for Audits: contains a list of requests for audits of other Users’ data that the User has made.

(vi)         Audits: contains a list of audits that have been performed by the User against other Users.

4.6.5     The Blockchain section, which is used to verify whether the data sent to a third-party blockchain system are identical to the data stored in the Application.

4.6.6     The People section is the gateway to using the Auditing functionality. This section contains all Users who have successfully registered in the Application. Through this section, the User has access to the Public Dashboards of other Users and ask them to perform an audit. After the audit request is sent, the Application evaluates whether the User is authorized to perform the audit and notifies the User who requested the audit about the result. If the User is not authorized to perform the audit, the Application will send a notification to the User or his/her public auditor, who will either approve or reject the request. If the requesting User is authorized to conduct the audit, the Application will prompt him/her through a notification to conduct the audit.

4.6.7     The Auditing module is used by the Users for Auditing. Through this module, authorized Users can take private snapshots, analyze the assets of the audited User, view other Users’ comments on the assets of the audited User and conclude the audit.

4.7         The User acknowledges and agrees that any violation of these Terms of Use or applicable laws may result in the termination of his/her Account.

4.8         When using the Application, the User is obliged to comply with these Terms of Use and applicable legal regulations, and act honestly and in accordance with good morals. The User is also obliged to always behave in a way not to damage the reputation of the Provider or cause damage on the part of the Provider.

4.9         Taking into account the latest state-of-the-art, the Provider undertakes to ensure that all Information and data stored on the Server through the Application are sufficiently protected against loss, destruction, disruption or possible misuse, unauthorized access, disclosure, publication or other illegal or unlawful operations.


5.1         By entering the Website, the Visitor confirms that he/she has read and understands the Terms of Use of the Website according to this Article 5 , and undertakes and pledges to fully respect and comply with them. The Website Visitor also confirms that he/she has familiarized himself/herself with and agrees to the terms of processing of personal data specified in the Privacy Notice.

5.2         The Provider only allows the Visitor to view and download materials from the Website for personal and non-commercial use and under the condition of non-infringement of the Provider’s copyright and other intellectual property rights.

5.3         The Website Visitor may not copy, publish, replicate or distribute the texts, logos or graphic elements of the Website, either in whole or in part, without the prior consent of the Provider. Unauthorized use of the information and materials on the Website in any form shall be treated as a violation of copyright laws and other laws for the protection of intellectual property rights, with the exercise of compensation claims.

5.4         The Visitor may not post or transmit any illegal, threatening, defamatory and obscene information or materials or other data (especially personal data) to the Website in violation of applicable legal regulations.

5.5         The Visitor is entitled to send requests to the Provider to invite a Public Person to the Application by e-mail to info@visiblemoney.org. For this purpose, the Visitor provides the Provider with his/her name, surname, municipality or city of residence. The Visitor can also revoke his/her request to invite a Public Persons by email. When inviting a Public Person, the Provider is entitled to disclose the personal data provided by the Visitor to the Public Person.  

6         FEES

6.1         The Application is provided free of charge under the Terms of Use specified herein. 


7.1         By concluding the Agreement according to point 3.1 of these Terms of Use, the Provider grants the User consent to use the Application (License), and by accepting these Terms of Use, the User expresses his/her agreement to the Licensing Terms listed below:

7.1.1         Method of use of the Application: The User is authorized to display, open, launch and use the Application for his/her own non-commercial use only.

7.1.2         Scope of License: The License is materially limited to the User’s own non-commercial use only, and it is territorially unlimited.

7.1.3         Duration of License: The License is granted for the duration of the Agreement.

7.1.4         Licensing fees: The License is granted free of charge. 

7.1.5         The License is non-exclusive. The Provider is free to grant the License to other persons.

7.1.6         The User is not authorized to modify the Application in any way, recompile the Application or include it in other derivative works, which may thus become part of a new work.

7.1.7         The User is not authorized to grant a permission to use the Application to third parties within the scope of the License (sublicense) and/or transfer the License to a third party without the prior written consent of the Provider.

7.1.8         The User undertakes and pledges to protect the Application from unprofessional interventions by third parties, as well as other actions resulting in its damage or deterioration.

7.1.9         The User is not permitted to rent, lend, share or otherwise allow third parties to use the Application or parts thereof, whether in its original or modified form, without the prior written consent of the Provider.

7.1.10      The License shall not entitle the User to any other use of the Application than the one stipulated herein.


8.1         This Agreement is concluded for an indefinite term.

8.2         The User may request a termination of the Agreement at any time by sending an email to info@visiblemoney.org. The Provider undertakes to delete the User’s Account within 3 working days from the date of delivery of the deletion request. 

8.3         Should the User violate these Terms of Use, damage the Provider’s reputation, allow other unregistered persons to use the Application, or should the Provider decide to discontinue the operation of the Application, the Provider may withdraw from the Agreement. 

8.4         In case of termination of the Agreement, the Provider shall delete the content and/or any comments posted by the User in the Application. The Provider shall archive the information in the Application log files for a period of 3 years after the termination of the Agreement. The Provider shall not be liable for damage incurred by the User as a result of deletion of the data in accordance with this point. 


9.1         The Provider shall provide continuous Availability of the Application with the exception of previously announced shutdowns necessary in particular to carry out regular updates and/or improve the functionality of the Application, or with the exception of other unplanned events that occurred due to the events not on the part of the Provider. The User acknowledges and understands that Availability may be limited and/or completely restricted, for example due to the regular updates or improvements of functionality of the Application, or due to other unplanned events that cannot be attributed to the Provider’s failure and/or will.

9.2         The User can send technical support requests to the Provider by email at  info@visiblemoney.org . As the Provider grants the License to the User free of charge, the User has no legal obligation to provide technical support. The Provider may also refuse to provide technical support if the User fails to provide the necessary synergy to the Provider.


10.1      As the Application is provided to the User free of charge, the Provider cannot not be held liable for any defects in the Application. 

10.2      The Provider shall not be liable for any damages caused to the User by unauthorized or incorrect use of the Application by the User himself/herself or by third parties.

10.3      The Provider shall in no way be liable for the content, correctness or completeness of the information stored, obtained, collected or generated by the User through the Application.

10.4      The Provider shall not be liable for the completeness, accuracy or truthfulness of information and other materials published or otherwise made available to other Users through the Application, nor for the damage or other violations of Users’ rights caused by the content or visualization of information and materials published by other Users in the Application or other actions of Users on the Website.

10.5      The Provider is not obliged to verify the truthfulness, accuracy or completeness of information published by the User when using the Application.

10.6      The User has the right to send requests regarding the use of the Application to the Provider by e-mail. As a rule, the Provider shall handle the requests within 5 working days. This period may be extended depending on the number and complexity of requests. If the User shows dissatisfaction with the manner in which the Provider handled the request or believes that the Provider has violated his/her rights, the User has the right to contact the Provider with a request for correction. If the Provider responds negatively to the User’s request according to the previous sentence or fails to respond to such requests within 30 days from the date of submission by the User, the User has the right to submit a proposal for an alternative dispute resolution according to the provisions of Article 12 of the Alternative Resolution of Consumer Disputes Act. The Slovak Trade Inspection (https://www.soi.sk/sk/alternativne-riesenie-spotrebitelskych-sporov.soi) is the competent authority for alternative dispute resolution.

10.7      The Slovak Trade Inspection – Nitra Region Inspectorate, with registered office at Staničná 1567/9, 949 01 Nitra, Department of Supervision, e-mail: nr@soi.sk, is the supervisory authority over the performance of Provider’s business activity.


11.1      When operating the Application, the Provider shall process the User’s Personal Data as a personal Data Controller who determines the purpose and means of personal data processing. 

11.2      Detailed information on the processing of personal data through the User’s use of the Application is provided in the Privacy Notice at [ • ] .


12.1      The Contracting Parties have agreed that any documents under these Terms of Use will be delivered electronically to the e-mail addresses of the Contracting Parties without the need to simultaneously send a printed document by post.  Unless proven otherwise, documents are deemed to have been delivered on the next business day from the day of dispatch from the e-mail address of the sending Contracting Party to the e-mail address of the receiving Contracting Party.


13.1      This Agreement is governed by Slovak laws. All legal relations, rights and obligations of the Contracting Parties not regulated under these Terms of Use shall be governed by the relevant generally binding legal regulations valid and effective in the Slovak Republic, in particular by the Civil Code and Copyright Act, as amended.

13.2      All disputes arising from the use of the Application and these Terms of Use or in connection therewith shall be ultimately decided by the competent courts of the Slovak Republic.

13.3      In the event that a provision in these Terms of Use is determined to be invalid, illegal or unenforceable to any extent by a competent court or regulatory authority, such a provision shall be severed to the necessary extent from the remaining provisions, which remain fully valid and enforceable to the maximum extent permitted by applicable law.

13.4      The Provider is free to modify and amend these Terms of Use at any time. Any changes to the Terms of Use and the effective date thereof shall be notified to the User electronically by publishing them on the Website, or via an email message delivered to the User’s email address. If the User does not expressly disagree with such changes in writing no later than 14 days from the date of publication of the Notice of Changes to the Terms of Use, the changes are deemed to have been accepted by the User and become effective on the effective date.

13.5      These Terms of Use are an integral part of the Agreement.

13.6      Effective date of these Terms of Use: 24.12.2023.




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