What is Bitbon System?

Bitbon System as a guide to the era of digital economy
03 September 2018   298

Nowadays,computerization and informatization play a significant role in the humanity’s existence. They have big impact one very aspect of human life. New advanced technologies, supercomputers, new ways of data storage and transmission influence all spheres of life. Modern digital trends bring changes to the economic life as well. Traditional fiat money is affected too. New developments are replacing the classic forms of settlements, make them easier, transparent, safe and reliable.

The team of developers understood the leading role and incredible significance of Distributed Ledger Technology. The main goal of the team was to find a solution to the issue that crypto money is not backed by assets and that it has increased volatility as well as the possibility of fraudulent use. Special attention was paid to those properties that would be fully consistent with the requirements of the modern world.

THE MAIN GOAL IS TO CREATE AND GIVE THE HUMANITY A TOOL, WHICH WOULD COMPLETELY CHANGE THE VECTOR OF ITS DEVELOPMENT, AS WELL AS THE SENSE AND MODE OF LIFE, PROVIDING EVERYONE WITH THE OPPORTUNITY TO REALIZE THEIR FULL POTENTIAL.

Combination of classic financial technologies and the latest developments made it possible to create the new concept of the Bitbon System, which is an integral decentralized blockchain-based platform for Contributing under the terms of Bitbon Public Contracts of various projects and managing legal relations between the Bitbon System Participants. The key component of this System is Bitbon — a digital derivative financial instrument with unique attributes and properties. This makes it a universal tool that can be applied in any field.

Bitbon System
Bitbon System

Bitbon is fully backed by a certain part of property rights to assets by means of automatic Contributing of the Bitbon Capitalization Fund. This is its key feature.

Assets can be many things, for example:

  • immovable property;
  • bank deposits;
  • machinery and production equipment;
  • securities;
  • patents;
  • trademarks;
  • know-how;
  • shares in statutory funds and in other companies;
  • shares in various projects with legal entities and individuals, etc.

The real value of Bitbon is based on the value of various assets. This factor determines the progressive possibilities of Bitbon as it combines all the properties of a crypto asset, which in its turn, is based on the cryptocurrency. All this is embodied in the Bitbon nature — in its crypto value. Bitbon crypto value is based on an integral system of properties; it allows determining the value of any property and has a process organization function as it is a key component of the Bitbon System that allows each System User to profitably and safely exercise his/her right to own and dispose of such a value, which is based on the potential of the development of global social significance in all spheres of public life.

The Bitbon System functioning is based on the Blockchain technology that ensures the decentralized management principle, safety of data storage and provides each System Participant with free access to the information on Bitbon issuing, transfer, splitting of nominal value and other operations with Bitbons. One of such operations should be mentioned separately: Users can exchange their Bitbons for Projectbons of a certain business project and receive the Contributor status as a result. The System Users store and transfer their Bitbons and Projectbons using the Assetbox functionality, which is the record (cell) with a unique alphanumeric identifier created in the Blockchain by a Bitbon System User. This ensures secure interaction of all System Users when receiving and transferring Bitbons and Projectbons from one cell (Assetbox) to another cell (Assetbox). Thus, the distributed nature of the Blockchain eliminates the threat of the Bitbon System hacking, while cryptographic methods used for confidentiality and protection make the fault tolerance as high as possible. It is important to emphasize that all the terms and conditions of Bitbon and Projectbon issuing, transfer rules and procedures for repurchasing Bitbons and Projectbons from Users are stipulated by the conditions of the Bitbon Public Contract of a specific project, which is a digital document that regulates the field of Bitbon application as well as all products and operations, which can be applied to Bitbons. Thus, circulation of Projectbon asaninstrument for Contributing is possible only in the Bitbon System asspecified under the terms and conditions of the Bitbon Public Contract of the given project. Therefore, the Projectbon Public Contract has a process organization function responsible for issuing new Bitbons and Projectbons.

The uniqueness of the Bitbon System and interaction principles of its components became aprerequisite for the emergence of a new type of activity — Contributing. This activity is aimed at receiving additional income by the Bitbon System Users from their participation in the implementation of the selected business project under the terms and conditions of the Projectbon Public Contract of a specific project by exchanging their Bitbons for Projectbons of this project.

It should be specially noted that the legislative regulation of Bitbon as the key component of the described System occurs exclusively in a legal field, which ensures transparency of all processes and transparent interaction of all Bitbon System Participants. Due to the laid down operating principle, the property owners (asset owners) and the Bitbon System Participants have an opportunity to establish and control their legal relations with the possibility of having in circulation only the right toacquire the property right to assets. Thus, the property itself remains in possession of its owner on the terms stipulated in the Projectbon Public Contract, solely as an object of ensuring obligations of the property owner (asset owner) to Bitbon owners.

In view of the above-mentioned properties of Bitbon,its global task and goal are to become the optimal tool for management, evaluation and measurement of the cost of any type of values and, consequently, to establish a foundation for the emergence of a common global database that is updated in real time and contains objective information on all assets and resources available to the world economy.This should result in the emergence of new methods of analysis, which allow using precise mathematical calculations, as well as the information on the rational use of all resources for the most effective management of the human society development.

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Eidoo to Release Gold Backed Stablecoin

New stablecoin is called Ekon and it will be possible to it for one gram of gold of 999 test
20 September 2018   261

The Swiss blockchain start-up Eidoo has joined the ranks of projects launching own stablecoins, announcing the creation of a stable coin tied to the price of gold.

Eidoo's stablecoin is called Ekon and is a token compatible with the ERC-20 standard, which will be available in a multi-currency purse and on a hybrid decentralized project exchange. It will be possible to exchange 1 Ekon for one gram of gold of 999 test, which is in a special storehouse. Reserves of gold will be audited every 90 days, moreover, to increase confidence in the token, the company promises to be able to watch gold vault via a video camera.

The profit from the purchase and sale of Ekon within the Eidoo ecosystem will be converted into a native EDO project token.

Despite the uniqueness of the offer of the Swiss start-up, not all experts agree with its usefulness, since the price of precious metal is not so stable. So, for the last six months it has fallen by almost $ 150, however it has grown by $ 25 since the end of August.

In October 2017, Eidoo raised $ 27.9 million in a token, and in April of this year received a license from the Swiss Financial Services Standards Supervision Authority (VQF) under the national financial regulator (FINMA).