What Is Bitbon?

Bitbon is a digital derivative financial instrument with unique attributes and properties, which make it a universal tool for successful application in any field. Bitbon favorably differs from crypto assets by absolute reliability, since it is fully backed by a certain part of property rights to Assets[1]. Bitbon is based on a core principle of its value formation regarding the cost of various types of Assets included in Bitbon via Projectbon Public Contracts[2] of various projects and the prospects for their development. Using Bitbon is understandable and predictable, as it is predetermined by the terms and conditions of each Projectbon Public Contract of a specific project, which is an important element of an integral part of its capitalization. Any operations with Bitbon (Bitbon issuing, its transfer from one owner to another, splitting of nominal value and other operations) are recorded in the Blockchain as data that cannot be deleted or modified.

Bitbon attributes are:

  • Identifier — a unique sequence of alphanumeric characters;
  • Nominal value — a positive real number corresponding to a part of property rights to the Bitbon System;
  • Records in the Blockchain, which register all operations with each Bitbon;
  • Bitbon System Public Contract.

Bitbon has the following properties:

  • Ability to split the nominal value with unlimited accuracy is guaranteed. Each fractional part of the nominal value corresponds to a certain part of property rights to Assets;
  • Bitbon is issued in accordance with the Bitbon System Public Contract[3];
  • Bitbon can be used as an instrument for trading on the exchange;
  • Bitbon can be used for calculating the index or any other financial derivatives, instruments;
  • Bitbon of one Bitbon System User[4] may serve as an Asset of another Bitbon System User;
  • It is guaranteed that any part of the Bitbon nominal value in the form of a new Bitbon identifier is transferred from one Bitbon System User to another Bitbon System User;
  • Ability to define rules of Bitbon processing before the occurrence of an event which the Bitbon System User (owner of property rights to Assets) specifies limiting the Bitbon application field.

1 Assets mean property that is legally owned by the Bitbon System User, including real estate, 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, Bitbons or Projectbons of another Bitbon System User and other assets.

2 Projectbon Public Contract means a digital document of a certain class according to the classifier accepted in the Bitbon System, which defines and regulates: rights and obligations of the Contractat, Bitup-Agency and Contributors 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 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 and Projectbon transfer rules, procedure for repurchasing Projectbons from the Contributor as well as the reference to the procedure for evaluating Assets.

3 Bitbon System Public Contract means a digital document, a basic foundation agreement between Simcord Company and all Bitbon System Participants.

This agreement identifies tasks and objectives of the Bitbon System, determines and establishes the basis for its development as well as stipulates a set of basic terms and conditions, fulfillment of which is mandatory for all Bitbon System Participants.

4 Bitbon System User means a Bitbon System Participant who uses Bitbons and/or Projectbons to conduct his/her activity in the Bitbon System.