If you are already familiar with the Bitbon System Roadmap,
you can go straight to the Bitbon System Concept and Bitbon System Decentralization Roadmap
you can go straight to the Bitbon System Concept and Bitbon System Decentralization Roadmap
The Roadmap displays the creation and development of the Bitbon
System from the moment of defining the fundamental concept to complete
realization of the global goal of the Bitbon System with launches
of all of its main services in real time.
This means that this section is a constantly updated stage-by-stage plan for developing the Bitbon System that Simcord follows in order to achieve the specified goals.
You can see how many tasks we have already completed, what we are working on at the moment and what awaits the Bitbon System and all of its Users in the future.
The development of the Bitbon System occurs in three
main
stages, the tasks in which are divided into three areas and assigned one
of three statuses over the course of implementation.
Development stages of the
Bitbon System:
2015
2016
2017
2018
2019
Stage 1 Preparation
Stage 1 Preparation
2015–2017
Stage 2 Distribution
Stage 2 Distribution
2018–2019
Stage 3 Redistribution
Stage 3 Redistribution
2018
We would like to point out that the 3rd stage has no end date, since it represents the entire process of the future development and evolution of the Bitbon System.
To make it more comprehensible and convenient when searching for the information on the development processes of the Bitbon System, we have divided all tasks of the Roadmap into three areas by marking them with the corresponding colors:
Scientific and Legal
Business-oriented
Social
In order for you to see what has already been done by our team, what we are working on and what is planned for the future, each task will be assigned one of three statuses over the course of implementation:
Completed
In progress
Planned
Stage 1 (2015–2017) Preparation (2015–2017)
The fundamental concept and development strategy of the Bitbon System were defined
The main tasks of the Bitbon System and ways of solving them were determined, as well as the long-term development strategy of the Bitbon System and Simcord.
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The main terms and definitions were formed, which became the foundation for the model of interaction of all Bitbon System Users and mechanisms ensuring the operation of the System’s components
While developing the mechanisms of the Bitbon System, we discovered that a lot of concepts were missing in the modern scientific terminology. For that reason, we decided to create our own term base.
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The distributed ledger technology was chosen for technical implementation
The distributed ledger technology (blockchain) allows not only implementing the Bitbon System at the technical level, but also starting to realize the ideas of building a new socioeconomic model based on information resources.
Substantiation of the Term “Digital Asset”: Economic and Legal Aspects
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Registration of patents, copyrights and trademarks for the key elements of the Bitbon System infrastructure at the international level
Registration of intellectual property objects of Simcord is one of the key priorities.
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Proceeding to the practical implementation of tasks
Preparation for the process of attracting potential Partners and investors, as well as formation of the fundamental infrastructure of the Bitbon System.
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Stage 2 (2018–2019) Distribution (2018–2019)
Pre-sale
From March 13, 2017 until March 12, 2018, 8,352,050 bitbons were distributed by means of selling electronic Bitbon Certificates, where Simcord Advanced Marketing Solutions LLP was one of the parties to the “Agreement on Provision of Services of Distributing the Right of Access to the Bitbon System”.
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The methodology for the pricing of Bitbon was determined at the distribution stage
Up until October 10, 2018, the value of Bitbon was determined by a special formula and was calculated online depending on the number of purchased bitbons:
where
S1 — base number of bitbons for the
first level if 1 bitbon = 1 USD;
N — level of
Bitbon pricing;
SN — number of
bitbons of the N level;
S — current number of all
purchased bitbons;
P — current price of
bitbon;
PN — base price of the N level.
Essentially, the value of Bitbon at each price level was calculated based on the total number of bitbons purchased at all previous price levels.
In the early stages of the Bitbon System development during the increase in bitbon liquidity, the Bit Trade website in the Tradebox service provides for special temporary trading conditions with an increased commission for the sale of bitbons (at the seller’s expense) in favor of participants in affiliate programs. According to these trading conditions, the commission is set automatically following the principle: the higher the sale price of bitbon, the lower the commission is. Consequently, with the increase in the number of bitbon owners, bitbon trade circulation (liquidity) increases, its price rises and the commission decreases.
This approach is designed to provide optimal conditions for motivating Partners to attract more Users in the early stages of the Bitbon System development.
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Fork of the node of the Ethereum blockchain
As a result of Ethereum’s Geth hard fork, the test network achieved the performance of 1,000 transactions per second for the first time, which significantly surpassed that of the original version of Ethereum (up to 15 t/s). These indicators allowed cutting down the time to carry out transactions (from minutes to several seconds), as well as increasing the network capacity.
Why does Simcord use a separate version of the Ethereum blockchain?
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Deployment of the test blockchain network of the Bitbon System
The first test network of the private Ethereum blockchain was deployed. The research of the test network confirmed that the base technology and network topology were suitable for the private blockchain, which allowed using this architecture for further development of the blockchain network.
Assetbox storage was deployed. The performance of the network and storage of the Bitbon System were tested and, as a result, their performance and reliability were increased. The Assetbox storage was also tested for scalability with increasing amounts of data.
Processing components and storage network for trading platforms in the test network of the Bitbon System were deployed, resource and stress tests were conducted, characteristics and performance of the entire System as a whole were studied. The coordinated work of all components of the System achieved after the deployment allowed eliminating time delays and data loss when processing transactions and requests of Users. The storage network was confirmed to be ready for further interaction with new trading platforms.
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Bitbon System Public Contract coming into effect
On March 10, 2018, the Bitbon System Public Contract was published and came into effect. It is a basic constitutive agreement between SIMCORD LLC as the founder of the Bitbon System with all Bitbon System Participants. The Bitbon System Public Contract sets forth the rights and duties of all Participants arising from the management of the Bitbon System, as well as stipulates the capabilities of its Users.
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Creation of the production version of the blockchain network of the Bitbon System
In accordance with the plan for putting the Bitbon System into operation, the main network was deployed. The resource testing lasted 3 weeks, which included works on the final stage of preparing all components for the testing of functional capabilities of the System under load over an extended period of time. This confirmed that the System was ready to process the planned number of requests from Users and withstand the load on the network.
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Expansion of the blockchain network of the Bitbon System by increasing the number of nodes from 4 to 12
The performance of the blockchain network of the Bitbon System was tested, and it was expanded by adding new nodes. The geographic distribution of network nodes significantly increases the reliability of storing data in blockchain and ensures additional stability of the System as a whole.
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Creation of a system of smart contracts of Bitbon distributed ledger token and issue of 100,000,000 Bitbon units
Creation and testing of the base set of smart contracts for recording transactions in the Bitbon System addressed the issue of security and laid the foundation for further development of the System’s functionality.
Issue of 100,000,000 Bitbon units to allow Bitbon System Users to use the opportunities laid down in the Bitbon System, as well as to allow Bitbon System Participants to exercise their right to directly manage the Bitbon System in the interest of all its Users.
Additional issue of Bitbon units in the Bitbon System is not possible.
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Creation of the Bitbon System Capitalization fund
Out of the total number of bitbons, 70,000,000 Bitbon units were transferred to the Assetbox of the Bitbon System capitalization fund to be distributed through affiliated Partners.
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Launch of the Bit Trade website with the ability to purchase bitbons under the terms of the crowdsale
The first stage of the launch of the Bit Trade website took place on March 13, 2018 with the ability to purchase bitbons and register Bitbon Certificates in the Bitbon System’s blockchain by using the tools of Bit Trade. From March 13 until October 10, 2018, the offer for the remuneration of Bitbon Promoters in the amount of 10% to 15% of the bitbon sale was in place.
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Internal crowdsale
From March 13 until June 16, 2018, 12,830,554 bitbons were distributed using the network of Partners in different countries before the launch of the public crowdsale.
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Launch of the Bitbon Space mobile app for Android and iOS operating systems with the access to the news of the Bitbon System
On May 16, 2018, the Bitbon Space mobile app was released for iOS and Android operating systems with the access to the news of the Bitbon System.
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The Appendix to the Bitbon System Public Contract “Terms and Definitions in the Bitbon System Social Network” was published
The Bitbon System uses a unique mechanism of interaction between its Participants and with the real sector of economy. This, in turn, requires the use of unique terminology to simplify the description and understanding of the Bitbon System processes.
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Public crowdsale
From June 17 until October 9, 2018, 5,753,157 bitbons were distributed by means of advertising campaigns and the network of Partners in different countries.
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Providing fund of the Bitbon System
On October 9, 2018, 30,000,000 bitbons were transferred from the Bitbon System capitalization fund to the Bitbon System providing fund (before renaming “mining” to “providing”, this component was called the mining fund) in order to develop the decentralized execution environment of the Bitbon System. Thus, taking into account the sale of bitbons at the crowdsale stages, the Bitbon System capitalization fund has 21,016,289 Bitbon units left to participate in contributing.
Providing fund of the Bitbon System is a Bitbon System component that accumulates Bitbon units received from the Bitbon System infrastructure fee fund and distributes them among Bitbon System Providers based on the role of a Provider: Registrator and/or Partitioner.
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Stage 3 (2018) Redistribution (started in 2018 along with the 2nd stage)
Please note that additional tasks with the
“planned” status may be added to the Roadmap at the 3rd stage of the
Bitbon System development.
It is due to the fact that, over the course of development and promotion of the Bitbon System, there is a need for constant adjustment of the System to the conditions of the rapidly developing modern world.
It is due to the fact that, over the course of development and promotion of the Bitbon System, there is a need for constant adjustment of the System to the conditions of the rapidly developing modern world.
It should also be noted that there is no
direct correlation between the order of the tasks with the “in
progress” and “planned” statuses in the list and the order of their
implementation.
Such tasks will be completed depending on their priority and will be added in chronological order with the “completed” status. We will notify you of that in the relevant news articles on the official information resources of the Bitbon System.
Such tasks will be completed depending on their priority and will be added in chronological order with the “completed” status. We will notify you of that in the relevant news articles on the official information resources of the Bitbon System.
This means that the Bitbon System Roadmap is a dynamic and
“living” resource that will constantly be supplemented and updated in
order to fully display the progress in the development of the
Bitbon System.
Launch of the Affiliate Program
On June 17, 2018, the Affiliate Program was launched on Bit Trade, the purpose of which was to help increase the number of bitbon owners as well as increase the bitbon trade circulation (liquidity) and its value. Participants in this program were able to receive additional income at the seller’s expense from direct sales of bitbons. Special tools, namely referral links to the Bitbon Space and Bit Trade websites, were provided to attract new Bitbon System Users. These links were placed on public web resources.
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The Appendix “Making Amendments and/or Additions to the Bitbon System Public Contract” was published
This Appendix determines the order and requirements for making amendments and/or additions to the Bitbon System Public Contract, as well as to the Appendices specified in Provision 2 of the Bitbon System Public Contract in order to ensure transparency of operation of the Bitbon System.
Making Amendments and/or Additions to the Bitbon System Public Contract
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Community PoS Consensus building algorithm was announced
The main objective of the Community PoS algorithm is to ensure complete decentralization of publication and verification of transaction blocks with the high level of network performance and guaranteed short interval of waiting for the confirmation of transaction completion.
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As part of his scientific and research activity, Alexander Kud conducted the etymological analysis of the term “digital asset” that included four approaches: economic, legal, information and value. The research was based on the need of the most precise definition of this term in the economic and legal aspects. All components of the definition of digital asset were analyzed, and the connection between them was identified and proven.
Substantiation of the Term “Digital Asset”: Economic and Legal Aspects
This methodological manual developed by Alexander Kud is the fundamental instrument for conducting the test of correspondence of characteristic indicators of any blockchain token to a digital asset.
Upon successful completion of this test, the blockchain token receives the status of a digital asset and, therefore, can be used in accordance with the International Financial Reporting Standards in the existing legal field without the need to create or introduce additional norms of regulation from governments.
The manual is intended for specialists in the fields of information and digital economies, lawyers, financial organizations and representatives of business communities.
You can learn more about the process of determining a blockchain token’s correspondence to a digital asset, as well as read the manual itself by following the link: https://www.virtualassettest.org
As part of the scientific and research activity aimed at studying the issue of complete operation of the Bitbon System in the legal field, Alexander Kud considered the matters of essence and purpose of digital assets as a fundamental economic and legal phenomenon, the emergence and application of which was possible due to the development of distributed ledger technology (blockchain) as a response to the global digitalization of the international socioeconomic system.
The substantiation of the term digital asset in the economic and legal aspects and unique features of legal regulation of digital assets allow stating the high level of their applied significance for the global community and prospects for the substantial changes that occur in the socioeconomic, political and legal fields. Taking into account the practical significance of digital assets, a special attention in the paper is paid to the methodology for testing any blockchain token’s correspondence to a digital asset.
The monograph is intended for specialists in the fields of information and digital economies, lawyers, financial organizations and representatives of business communities.
This paper is distributed for free and has two editions, one of which is extended. The monograph is available in electronic form here:
Rebranding of the Bitbon Space mobile app to One Space
One Space is a socially-oriented resource of the Bitbon System that has the required functionality and set of tools that in the future will allow:
- exchanging text messages with and calling other Users of the System, creating information channels and keeping up-to-date with the news;
- managing and exchanging digital assets, paying for products and services with them, using the system of discounts and savings;
- managing your accounts, as well as properly conducting business of any scale, attracting investors, finding projects for financing and participating in the development of the Bitbon System.
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The Bitbon Protocol is the foundation for the legally protected exercise of the owners’ property right to the Bitbon digital asset in accordance with all accepted international standards. It confirms that Bitbon is derived from the nonmonetary asset “Asset of the Bitbon System Infrastructure — Simcord”, allows classifying Bitbon as an intangible asset in accounting in accordance with the International Financial Reporting Standards 38 “Intangible Assets” and, therefore, allows using Bitbon in the current international legal field.
Entering the Bitbon digital asset in the balance sheet of an enterprise as an intangible asset
From the moment of publication of the updated Bitbon Protocol that confirms the legal nature of the Bitbon blockchain distributed ledger token derived from the nonmonetary asset “Asset of the Bitbon System Infrastructure — Simcord”, the ability of representing Bitbon in accounting (financial) reports as an intangible asset is confirmed for the use by natural persons and business entities.
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The ability to create Bit Trade account is available
In the early development stages of the Bitbon System, Bitbon System Users temporary register accounts on the Bit Trade website. This means that each account on Bit Trade is automatically assigned a Space ID, which the User will be able to use to get access to his/her account in the Bitbon System in the future.
After launching the One Space base service, Bit Trade Markets Limited undertakes to transfer the account data of the Users of the Bit Trade website to the Bitbon System Operator. Based on these data, accounts of such Users will be created in the Bitbon System. The Users will be able to get access to their accounts through the One Space service.
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Global update of the Bitbon Space website
With this update, Bitbon Space received not only a modern design and user interface, but also an advanced technical and information architecture for proper implementation of the functionality built in the Bitbon System.
By means of the published materials, the updated Bitbon Space will allow for a better understanding of the principles and mechanisms of interaction of Bitbon System Users with the real sector of economy on the new market of information resources, products and services based on distributed ledger technologies.
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Replacement of the Ethereum PoW consensus algorithm with Community PoS algorithm developed by Simcord
At this stage, the Community PoS algorithm was used with a representative set of Assetboxes to ensure the operation of Community PoS until the launch of consensus building in the Bitbon System. The main objective of Community PoS is to provide complete decentralization of announcement and verification of transaction blocks with high network performance and short guaranteed transaction confirmation delay.
With the launch of the new algorithm, the power consumption of distributed ledger tokens of the Bitbon System decreased, while the transaction processing speed increased to 5,000 per second, which brought the effectiveness of the Bitbon System’s blockchain to the transaction processing speed of global financial networks, such as Visa and Mastercard.
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Expansion of the blockchain network of the Bitbon System by increasing the number of nodes from 12 to 20
On February 3, 2020, the blockchain network of the Bitbon System was expanded, and the number of its nodes was increased from 12 to 20 in 6 different locations. Therefore, the nodes of the Bitbon System’s network are now also located in Poland (Wrocław) and Germany (Saarbrücken).
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Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Provider”
This Appendix determines the fundamental principles and the order of implementing providing in the Bitbon System, specifies the status of a Bitbon System Provider as well as regulates his/her rights and duties in order to ensure support and development of the decentralized execution environment of the Bitbon System.
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System of remuneration for consensus building
The development of a concept that will ensure transparent, rational and beneficial distribution of remuneration to Bitbon System Users for participation in providing aimed at building consensus in the Bitbon System.
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Software updates for the nodes of the Bitbon System’s blockchain and system of smart contracts
This update increased the reliability, fault-tolerance and security of the transfer system, as well as trust in digital assets and decentralized execution environment of the Bitbon System as a whole.
New ways of carrying out transfers at the node level were implemented, which will ensure the connection of Users to Registrator pools and distribution of remuneration for building consensus in the Bitbon System.
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Realization of providing in the Bitbon System
According to Provision 15 of the Bitbon System Public Contract, providing in the Bitbon System is a type of activity of the Bitbon System User aimed at ensuring decentralization of the Bitbon System by providing a certain number of his/her Bitbon units and resources of proper quality, including communication channels, CPU time and memory for long-term storage of information in order to ensure the circulation of digital assets.
The Bitbon System stipulates the status of a Bitbon System Provider, which allows the Bitbon System User in the roles of a Registrator and/or Partitioner to maintain decentralization of the Bitbon System by providing his/her own resources for such purposes in accordance with the Appendix to the Bitbon System Public Contract Bitbon System Provider.
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Realization of economic and legal decentralization of the Bitbon System
The concept of realizing the economic and legal decentralization of the Bitbon System is that Users, through the base services of the Bitbon System, can arrange deals regarding accounting of economic relations directly and without intermediaries. While the Bitbon System Providers, in the role of Registrators, regardless of their citizenship or country of residence, can record such deals in order to confirm a legal fact by achieving consensus using the Community PoS algorithm.
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Publication of source codes for the software of the Bitbon System’s blockchain network node in Simcord’s GitHub repository
Following the principle of openness and transparency of its activities, Simcord as the first Bitbon System Operator provided the software algorithms of the Bitbon System’s blockchain network node in Simcord’s GitHub repository for an open audit.
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Launch of the One Space website
One Space is a base service of the Bitbon System, which provides the infrastructure to ensure the interaction of its Users when conducting any type of activities stipulated by the Bitbon System Public Contract.
This service is designed to effectively and securely manage your personal data and digital assets. One Space provides Users with access to the components and base services of the Bitbon System and their functionality.
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Publication of the Appendix to the Bitbon System Public Contract “Funds of the Bitbon System”
The Appendix specifies the list of funds of the Bitbon System as well as the terms and procedure for their creation, suspension or closure and other terms of their functioning.
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Publication of the Appendix to the Bitbon System Public Contract “Providing in the Bitbon System: Economic and Legal Decentralization of the Bitbon System”
The Appendix determines the fundamental principles and procedure for performing activities by the Bitbon System Provider in the role of a Registrator, regulates his/her rights and obligations in order to ensure the economic and legal decentralization of the Bitbon System.
Providing in the Bitbon System: Economic and Legal Decentralization of the Bitbon System
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Publication of the Appendix to the Bitbon System Public Contract “Providing in the Bitbon System: Technological Decentralization of the Bitbon System”
The Appendix determines the fundamental principles and procedure for performing activities by the Bitbon System Provider in the role of a Partitioner, regulates his/her rights and obligations in order to ensure the technological decentralization of the Bitbon System.
Providing in the Bitbon System: Technological Decentralization of the Bitbon System
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Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Account”
The Appendix specifies operating terms and conditions of the Bitbon System account as well as the procedure for its use by the Bitbon System User.
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Publication of the Appendix to the Bitbon System Public Contract “One Space Base Service”
The Appendix specifies the functionality of the One Space base service.
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Publication of the Appendix to the Bitbon System Public Contract “AML/KYC Policy”
The Appendix provides the Bitbon System User with information on the prevention and mitigation of possible risks of the Bitbon System Operators related to involvement in illegal activities of any kind.
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Publication of the Appendix to the Bitbon System Public Contract “Privacy Policy”
The Appendix provides the Bitbon System User with information on why personal data of Users is collected and processed when using the functionality of the Bitbon System infrastructure.
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Publication of the Appendix to the Bitbon System Public Contract “Cookie Policy”
The Appendix provides the Bitbon System User with information on why personal data of Users is collected and processed when using the functionality of the Bitbon System infrastructure.
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Publication of the Appendix to the Bitbon System Public Contract “Components and Base Services of the Bitbon System”
The Appendix specifies the list of the main components and base services of the Bitbon System.
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Publication of the Appendix to the Bitbon System Public Contract “Service Fees in the Bitbon System: the Procedure for Their Deduction and Distribution”
The Appendix determines the terms of collection, the procedure for calculating, deducting and distributing service fees in the Bitbon System.
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In progress:
Ensuring technological decentralization of the Bitbon System
The concept of ensuring technological decentralization of the Bitbon System by means of providing is to create a global, highly reliable and distributed storage of secure data with a high degree of trust, which is updated in real time and supported by the Bitbon System Providers in the role of Partitioners in order to create and develop decentralized services of the Bitbon System for building a global new generation accounting and management system to ensure the rational use of available resources.
During the transition period of the Bitbon System, SIMCORD LLC undertakes to independently maintain and develop the Bitbon System infrastructure with the status of a Provider in the role of a Partitioner, using its own computing and telecommunications resources, as well as to receive remuneration in full, the size of which is established in paragraph 14 of Article 7 of the Appendix to the Bitbon System Public Contract Bitbon System Provider until the date specified in paragraph 1.2 of Provision 17 of the Bitbon System Public Contract.
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Accounts for businesses and Bitup-Agencies in the Bitbon System
Special accounts for Users interested in the use of services and digital assets of the Bitbon System to start and develop their businesses on the new emerging market of information resources, products and services based on distributed ledger technologies.
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Expansion of the blockchain network of the Bitbon System by increasing the number of nodes from 20 to 33
The number of nodes of the blockchain network of the Bitbon System will be increased by 13 and will amount to 33 nodes. Such actions not only contribute to technical decentralization, but also increase the performance and fault-tolerance of the System as a whole, which, in turn, provides new opportunities to develop the decentralized infrastructure of the Bitbon System more actively.
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Launch of Bonpay
Bitbon System Users will be able to transfer bitbons between Assetboxes using QR codes through Bonpay. This service also provides an opportunity to pay for products and services with bitbons.
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Launch of Safebox as a component of a decentralized exchange
Bitbon System Participants will be able to create a separate cell (Safebox) in the blockchain to confidentially and safely store their bitbons and send them in full to another User in accordance with the conditions established by a Safebox owner.
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Application Programming Interface (API)
The development of a complex of software solutions that allow integrating the services and components of the Bitbon System into Users’ information resources for mutually beneficial cooperation using digital assets of the Bitbon System.
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Listing of Bitbon on various exchanges and services
The works are currently being conducted to allow exchanging bitbons for other digital instruments and currencies on various exchanges and services after their authorization.
Names of such exchanges and services as well as links to their websites will be published in a special section of the Bitbon Space resource. The list of exchanges and services on the page will be built according to random rotation algorithms, regardless of their functionalities, to ensure equal conditions for all exchange services that offer the Bitbon digital asset.
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Creation of a test network to ensure seamless integration of third-party services into the Bitbon System
A special test network will allow developers to create and check their integration systems in test environment for subsequent launch in the main network of the Bitbon System.
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Ability to deploy nodes of the blockchain network of the Bitbon System by Participants authorized by Simcord
Allowing authorized exchanges and Bitup-Agencies to connect their own nodes to the blockchain network of the Bitbon System and read all recorded transactions in real time.
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Comprehensive software update of blockchain network nodes, modules and components of the Bitbon System
This update includes preparation and testing of software before the scaling of the blockchain network of the Bitbon System using solutions for sharding.
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Scaling of the blockchain network of the Bitbon System using sharding
Implementation of functionality to split the transaction flow in the Bitbon System among various interconnected network segments, which will provide a significant increase in the overall blockchain network capacity.
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Decentralized storage of documents
The use of sharding will allow organizing a reliable and high-capacity system for decentralized storage of verified documents that can be used by the services integrated into the Bitbon System.
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Launch of Bon Exchange
Bon Exchange is a completely decentralized integrated service that will allow Bitbon System Users to securely and equally exchange digital assets without intermediaries based on the decentralized execution environment of the Bitbon System.
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Launch of the Indices and Quotes service
This service will provide the structured statistical information on indices and quotes of the Bitbon System digital assets in real time.
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Launch of the Registers service
This service will allow receiving information on all digital assets registered in the Bitbon System in real time.
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Ability of Bitbon System Participants to install and launch the software of the node of the Bitbon System’s blockchain network on their personal computers
This software will provide full access to public data of the distributed ledger and methods of smart contracts.
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Publication of the Appendix to the Bitbon System Public Contract “Digital Asset Protocols in the Bitbon System”
The Appendix will contain a set of templates and detailed instructions necessary for Bitbon System Users to create their digital assets.
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Publication of the Appendix to the Bitbon System Public Contract “Rules of Digital Asset Circulation in the Bitbon System Social Network”
The Appendix will contain rules and conditions for circulation of digital assets in the Bitbon System, namely the transfer of digital asset units and digital assets.
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Publication of the book “Bitbon System. Vision of the Future”
The book will reveal the potential of using digital assets in the Bitbon System on a global scale and in certain examples, i.e. business and everyday life. The ways of application of digital assets as accounting units for the value of products and services in accounting, investment, logistics and other fields will be considered as well.
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Publication of the book “Digital Asset as a New Way of Regulating Legal Relations Based on the Distributed Ledger Technology”
This book will cover the role of digital assets in the process of transformation of socioeconomic relations in the age of information platforms based on the distributed ledger technology. The author will describe the aspects of the digital asset phenomenon, as well as a new concept of the model of legal relations with an independent regulatory authority. The reader will learn about the types of digital assets, the possibility of building trust-based relations, the principle of equality in legal relations based on the distributed ledger technology as well as about a new way of recording the performance of obligations, registering, protecting and acknowledging the rights.
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Planned:
Ability of Bitup-Agencies and Bitbon System Operators to verify Users
Allowing Bitbon System Users with the statuses of a Bitup-Agency or a Bitbon System Operator to verify Users in order to assign a certain certificate to an account in the Bitbon System.
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Launch of the 1st stage of implementing the model of decentralized management of the Bitbon System
At this stage, the base model of interaction of Bitbon System Operators and Bitup-Agencies with state organizations and Bitbon System Users as a whole will be implemented.
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Creation of private segments of the blockchain network of the Bitbon System
The ability to create private segments of the Bitbon System’s network to be used in the infrastructure of various organizations and groups ensuring the verification of resources and assets of private segments in public segments of the Bitbon System.
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Launch of the service for creating digital assets
Launch of the service for creating service tokens
Launch of the “Bitbon System Capitalization” service
Business Bon Protocol
Currency Bon Protocol
Property Bon Protocol
Non-Property Bon Protocol
Commodity Bon Protocol
Proprietary Bon Protocol
Launch of the messenger with the ability to perform calls and create chats based on One Space
Creation of public channels with special abilities based on One Space to form a social network of a new generation
Connection of merchants and outlets
Launch of the system for preparing and licensing Bitup-Agencies
First Projectbon Protocols (start of interaction with the real sector of economy)
Launch of a special website service for testing a blockchain token’s correspondence to a digital asset
Launch of the 2nd stage of Consensus building mining in the Bitbon System
At this stage, Bitbon System Participants will be able to install and launch the software of the block producer node of the blockchain network of the Bitbon System on their resources to participate in creating transaction blocks.
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Launch of the 2nd stage of Bitbon System Infrastructure building mining
This stage implies the ability to participate in Infrastructure building mining with distribution of Bitbon digital asset accounting units from the Mining Fund among miners based on the amount and quality of resources of each Bitbon System Miner individually. The level of participation of each miner in redistribution of Bitbon accounting units will depend on technical properties and characteristics of the resources provided by the miner, including the quality and speed of the Internet channel, CPU time and the amount of memory for long-term data storage.
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Decentralized storage of all information on Bitbon System accounts in the blockchain network of the Bitbon System
Information on accounts will be stored in fragments and encrypted, in several closed segments (subnetworks), which will provide security and reliability of its storage. Access to this information will be determined by the rules of the Bitbon System, credentials and corresponding certificates of Users’ accounts. Therefore, only authorized Users with permission from the owner of the information will be able to access it.
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Decentralized storage of information resources and digital asset protocols in the blockchain network of the Bitbon System
All information resources created by Bitbon System Users will be encrypted in distributed stores on the System’s nodes. Decentralized storage will provide high reliability and accessibility of information and create the foundation for subsequent steps towards decentralization of the Bitbon System.
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Transition of the Bitbon System’s infrastructure from the private Ethereum blockchain to the public Simcord’s blockchain
Localization of the official information resources of the Bitbon System in 12 languages
Integration of trading networks into the Bitbon System
Launch of the global discount system based on the Bonpay service that would unite various fields of business into one global system of discounts and savings
Ability to participate in various business projects through Projectbon using One Space
Evolution of the network (nodes) of the Bitbon System into an autonomous and decentralized structure
Uniting all Bitbon System Users into one business oriented network of a new generation
A single account that stores personal data in the decentralized environment with the ability to synchronize with all third-party services that support the Space ID standard
Launch of social saving programs in order to ensure the proper quality of life
Creation of a single global system for purchasing and selling products and services based on Simcord’s distributed ledger technology
Global update of the hardware and software complex of the Bitbon System infrastructure
This update will significantly expand the functionality of the execution environment of the Bitbon System, which will allow the community to develop own modules of the Bitbon System as well as expand the data exchange protocol in the blockchain network of the Bitbon System.
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Launch of the 3rd stage of Bitbon System Infrastructure building mining
The implementation of decentralized storage and processing of big amounts of information by integrating the tools for scaling the Bitbon System using computing resources of the community of Bitbon System Users and automatic distribution of the load to these resources.
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Ability to host specialized components on own resources and to create stores of local data
Launch of a set of tools to create private segments in the blockchain network in the infrastructure of the Bitbon System with the ability to exchange data and transactions with other nodes and segments of the network, as well as geographically localized segments and distributed stores for flexible management of data and transaction flows.
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Launch of the 2nd stage of implementation of the model of decentralized management of the Bitbon System
At this stage, the voting procedure will be implemented, using which Bitbon System Participants will be able to make decisions on the priorities of the System’s development.
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Complete decentralization of the Bitbon System
Transition of the Bitbon System to fully decentralized management only by Bitbon System Participants in accordance with Provision 17 of the Bitbon System Public Contract.
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Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Management”
Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Operator”
Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Verifier”
Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Contributor”
Publication of the Appendix to the Bitbon System Public Contract “Contributing in the Bitbon System”
Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Integrator”
Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Validator”
Publication of the Appendix to the Bitbon System Public Contract “Bitbon System Specialist”
Publication of the Appendix to the Bitbon System Public Contract “Dispute Resolution Between Bitbon System Users”
Publication of the Appendix to the Bitbon System Public Contract “Resolving Issues of Digital Asset Inheritance in the Bitbon System”
Publication of the Appendix to the Bitbon System Public Contract “Digital Asset Creation Procedure in the Bitbon System”
Publication of the Appendix to the Bitbon System Public Contract “Properties and Attributes of Digital Assets in the Bitbon System”
Publication of the Appendix to the Bitbon System Public Contract “Services of Bitbon System Users”
Publication of the Appendix to the Bitbon System Public Contract “Moral and Ethical Code of the Bitbon System Community”
Please note that, in accordance with the plan described above, some components of the Bitbon System are still being developed or prepared for launch, but owners of Bitbon units can already use the existing services. We recommend that you purchase Bitbon units and join the community.
If you are already familiar with the Bitbon System Roadmap,
you can go straight to the Bitbon System Concept and Bitbon System Decentralization Roadmap
you can go straight to the Bitbon System Concept and Bitbon System Decentralization Roadmap