Bitbon Protocolmeans a digital document, which establishes unique attributes and properties of the Bitbon[i] Digital Asset based on the Bitbon System Public Contract[i].
Bitbon means a Digital Asset, an instrument derived from Divaunit by means of Projectbons, which belong to the Bitbon System Capitalization Fund. Bitbon is represented as an alphanumeric identifier and registered in the Blockchain with an ability to circulate only in the Bitbon System. The Bitbon Digital Asset is a unit of measurement of the exchange value of all Digital Assets and ensures their ability to circulate in the Bitbon System. This Digital Asset is created and given unique attributes and properties based on the Bitbon System Public Contract and the Bitbon Protocol. The use of Bitbon allows establishing and controlling legal relations between the owner of the Asset and the owner of the Digital Asset as well as mutual relations of the Bitbon System Users, whereby only the transferrable right of claim of the owner of the Digital Asset to the owner of the Asset can be in circulation, which is aimed at fulfilling the obligations set by the owner of the Asset and derived from the property right to the Asset (right to own, use and dispose of the Asset) under the terms and conditions recorded in the relevant Digital Asset Protocol.
Bitbon System Public Contract means a digital document, a type of social contract of statutory nature, basic constitutive agreement between Simcord Company, the founder of the Bitbon System, and all Bitbon System Participants, where Simcord also acts as the Bitbon System Operator.