Updating the Key Term of the Bitbon System

News/Global News/Updating the Key Term of the Bitbon System
05.09.2018 10:50

Due to the effective and progressive development of the Bitbon System according to the stages defined for the period 2015–2025 and based on the evident fact that the number of Users in the System grows every day, Simcord Company is currently elaborating all the processes laid down in the Contributing model in order to enable you to use this type of activity as soon as possible.

For convenient and quick perception of the information about the Bitbon System components and interaction of Participants in the Contributing process as well as for better understanding of processes in the System as a whole, the Company’s specialists strive to use special terminology in the most accurate and systematized way.

Based on Clauses 13[i] and 54[i] of the Bitbon System Public Contract, Simcord Company is making changes to the term “Bitbon Public Contract” on the official information resource of the Bitbon System www.bitbon.space. After the publication of this news, the term will change to “Projectbon Public Contract”. At the same time, the sense of the definition will remain the same.

Therefore, the Projectbon Public Contract means a digital document of a certain class according to the classifier accepted in the Bitbon System[i], which defines and regulates: rights and obligations of the Contractat[i], Bitup-Agency[i] and Contributors[i] as well as the procedure, manner and conditions of their relations as three parties to the Projectbon Public Contract of a specific project; field of Projectbon[i] use as well as all products and operations that may be applied to Projectbon. The Projectbon Public Contract of a specific project can define the terms and procedures for Projectbon issuing, Bitbon[i] and Projectbon transfer rules, procedure for repurchasing Projectbons from the Contributor as well as the reference to the procedure for evaluating Assets[i].