Bitbon System — Review, Feedback and Rating of the Project

We bring to your attention our feedback on the Bitbon System in the form of a review.

The Bitbon System is a decentralized platform for Contributing, attracting financing for business projects and managing property rights to assets.

How the System Is Set Up. Figuring Out the Terminology

Let us first figure out the terminology because there is quite a lot of it. According to the idea of the developers of Simcord Company, the reason for the new terminology is the absence of a complete legislative regulation of the processes laid down in the Bitbon System. New terms allow meeting legal rules and operating within the law.

So we will try to cover all unfamiliar terms by drawing parallels with the existing conditions.

Assetbox is just a wallet, which is intended for storing your Bitbons and Projectbons (the definition of this term can be found below). There can be many of such wallets. Moreover, the System itself also has such a wallet. Read about it below and find out how it works.

Contributing means investing. Contributor means an investor.

Contractat is an entrepreneur, who wants to raise funds (to be more precise, to raise Bitbons) to implement his/her business idea.

Projectbon Public Contract is a legal document digitalized into a smart contract. This document regulates all terms and conditions of receiving funds by the Contractat. For example, the Contractat can guarantee that as soon as he/she starts making profit, the investors will be paid “X” amount of money, dividends etc.

Bitup-Agency is a special audit agency. This kind of organization should employ competent individuals with experience in law, business and finance. This is where entrepreneurs go to be admitted to fundraising. Bitupers evaluate the business idea, make sure the business is backed by assets, analyze its potential, help to draw up a Public Contract and only then allow attracting financing.

IBO is an equivalent of crowdsale, i.e. the process of collecting Bitbons for project implementation.

Projectbon is an equivalent of a digital share in the project during crowdsale. Everyone who wants to participate in the project financing, invests his/her Bitbons in it and gets Projectbons in return. Projectbon guarantees the fulfillment of obligations to the investors. It is easier to understand using an example. The business started to bring profit, and the entrepreneur must pay a certain amount of Bitbons with interest back to his/her investors. To do this, he/she has to buy out Projectbons for Bitbons at the specified new price. By the way, Projectbons can also be sold and bought from other users.

Indexbon is a portfolio of different Projectbons. Successful investors can buy tokens of various projects, make a profitable portfolio out of them and then re-sell it to other System users.

Bitbon Capitalization Fund is a component that deserves special attention. In fact, the Fund represents Bitbons, which are frozen in the System and belong to all users according to the number of Bitbons in each wallet. The main function of the Fund is its automatic participation in the Contributing. Simply put, when a new project enters the exchange, one part of its financing comes from the users, and another — from this Fund. The really cool thing is that this Fund also receives the profit from the implementation of the planned business project, which, in its turn, is distributed among all users of the Bitbon System in proportions equal to the number of Bitbons in the wallets. This leads to self-enrichment of the System and its users.

Masterbox is a wallet containing all the investments in the project.

There are a lot of other terms, but all of them are secondary. You can learn more about them by following this link

In fact, the description of all terms gives a clear understanding of how the System operates and what features it has.

And we get the following chain:

An entrepreneur has a business idea. He/she turns to the Bitup-Agency, undergoes the audit and creates a Projectbon Public Contract. Then, the project is admitted to the IBO, and System users begin to buy Projectbons for Bitbons. When the required amount is collected, the second part is allocated from the Bitbon Capitalization Fund. The entrepreneur receives his/her Bitbons to the Masterbox in stages, rather than all at once. Stages are specified in the Projectbon Public Contract. The Bitup-Agency monitors the project implementation at all stages. If the entrepreneur fulfills his/her obligations, he/she receives the next amount of funds designated in Bitbons.

And the cycle continues until the project is completed. There can be different types of Projectbons: constant dividends from the project, one-time payment of interest for participation after the project implementation and other options.

Our Bitbon Rating and Review

The idea of Bitbons is very promising. Thanks to this concept, not only Internet projects, but also the real sector of economy will benefit from using the Blockchain technologies. Developed countries are most definitely moving towards a digital future, and the Bitbon System solves a lot of issues and eliminates doubts relating to the implementation of the Blockchain technologies at the state level. That is why our review is 100% positive and the rating is 10/10.

Join Bitbon via the link:

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