Terms and Definitions in the Bitbon System

Safebox

Safebox is a record (cell) in the blockchain[i] in the form of an identifier[i] created by the Bitbon System Participant[i] for storing his/her Bitbon[i] accounting units with a high degree of confidentiality and security as well as for providing access to another Bitbon System User[i] in accordance with the conditions established by the Safebox owner in order to transfer such accounting units to this User in full.

Additional information

  • Each Participant can create his/her own Safebox by using standard tools in the Bitbon System[i].
  • The Participant can assign a unique name (alias) to his/her Safebox, which can make it easier to remember the name of the Safebox.
  • In order to improve the confidentiality of the Bitbon storage, the Safebox owner can use the special function of visual hiding of his/her Safebox in his/her Bitbon System account[i].
  • When transferring Bitbons to the Safebox, the Participant must specify the parameters and conditions under which it will be possible to get access to Bitbon accounting units stored in the Safebox.
  • Parameters and conditions:
    • activation code is an identifier (password) automatically generated by the Bitbon System for getting access to Bitbon accounting units stored in the Safebox. For the convenience of remembering and storing the activation code, the Participant can create his/her own activation code (password), which must consist of a set of available characters the number of which must be not less than 24 and not more than 128;
    • date and time of providing access to Bitbons may be an additional condition upon fulfilling which the User is given the access to Bitbon accounting units stored in a specific Safebox if the correct activation code (password) is entered;
    • date and time of the automatic Bitbon transfer is the condition upon fulfilling of which all Bitbon accounting units stored in the Safebox are automatically transferred to the Assetbox[i] specified when creating the Safebox.
  • In the Bitbon System, the maximum period for storing Bitbon accounting units in the Safebox is 3,652 days (10 years) from the moment of transferring Bitbon digital assets[i] to the Safebox. If within a specified period of time Bitbon accounting units have not been used, then after 3,652 days (10 years), all Bitbon accounting units stored in the Safebox will be automatically returned to the Assetbox, from which they were transferred to this Safebox.