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Bitbon in the Perspective of the Financial and Social Significance

10 May 2018

The current stage of the society development is characterized by processes of computerization and informatization, which influence significantly its structure and functioning mechanisms.

Creation of ever more advanced technologies, emergence of the cutting-edge computer facilities, innovations in the field of data storage and transmission — all this and much more contributes to rapid transformations in all spheres of human life. Current trends cause changes that occur in the system of economic relations as well. Digital developments, which replace the traditional model of fiat money, hold a special place in these transformations making the system of mutual settlements easier and more convenient and the information storage reliable and safe.

Understanding significance and incredible rates of the Blockchain technology popularization in the financial industry and objectively assessing possible disadvantages of the existing crypto currencies, we have started creating the more perfect concept, which will be the answer to many objections in the debate about the fact that digital money is not backed by assets and that it has increased volatility as well as the possibilities of unlawful use. When developing such a model, special attention was paid to the study of those exceptional properties and qualities that would be fully consistent with the requirements of the modern world and determine the confident prospects for the development of the system being created on the transnational scale. However, the main goal was to create and give the humanity a tool, which would completely change the vector of its development, as well as the sense and mode of life, providing everyone with the opportunity to realize his/her full potential.

Thus, by combining existing financial technologies with the latest digital developments, we have introduced a completely new concept that embodied in the Bitbon System. The Bitbon System is an integral decentralized system based on the Blockchain technology, which is basically the platform for implementing Contributing under the terms of «Bitbon» Public Contracts of various projects and managing legal relations between Bitbon System Participants. The key component of this System is Bitbon — a digital derivative financial instrument with unique attributes and properties, which make it a universal tool to be applied in any field.

The key feature of Bitbon, which lays a solid foundation in terms of reliability and unlimited potential for use, is that Bitbon is fully backed by a certain part of property rights to Assets by means of automatic Contributing of the Bitbon Capitalization Fund. Assets can include immovable property, 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, and other assets. Consequently, Bitbon has a real value, which is formed on the basis of value of various types of Assets included in it and the prospects for their development. This factor determines the progressive possibilities of Bitbon as it combines all the properties of a crypto asset, which in its turn, is based on the crypto currency. All this is embodied in the Bitbon nature — in its crypto value. Bitbon crypto value is based on an integral system of properties; it allows determining the value of any property and has a process organization function as it is a key component of the Bitbon System that allows each System User to profitably and safely exercise his/her right to own and dispose of such a value, which is based on the potential of the development of global social significance in all spheres of public life.

The Bitbon System functioning is based on the Blockchain technology that ensures the decentralized management principle, safety of data storage and provides each System Participant with free access to the information on Bitbon issuing, transfer, splitting of nominal value and other operations with Bitbons. One of such operations should be mentioned separately — User’s exchange of his/her Bitbons for Projectbons of a certain business project, as a result of which such a Bitbon System User receives the Contributor status. The System Users store and transfer their Bitbons and Projectbons using the Assetbox functionality, which is the record (cell) with a unique alphanumeric identifier created by a Bitbon System User in the Blockchain. This ensures the secure interaction of all System Users when receiving and transferring Bitbons and Projectbons from one cell (Assetbox) to another cell (Assetbox). Thus, the distributed nature of the Blockchain eliminates the threat of the Bitbon System hacking, while cryptographic methods used for confidentiality and protection make the fault tolerance maximum high. It is important to emphasize that all the terms and conditions of Bitbon and Projectbon issuing, transfer rules and procedures for repurchasing Bitbons and Projectbons from Users are stipulated by the conditions of the Bitbon Public Contract of a specific project, which is a digital document that regulates the field of Bitbon application as well as all products and operations, which can be applied to Bitbons. Thus, Projectbon circulation as an instrument for Contributing is possible only in the Bitbon System as specified under the terms and conditions of the Bitbon Public Contract of the given project. Therefore, the Bitbon Public Contract has a process organization function responsible for issuing new Bitbons and Projectbons.

The uniqueness of the Bitbon System and interaction principles of its components became a prerequisite for the emergence of a new type of activity — Contributing. This activity is aimed at receiving additional income by a Bitbon System User from his/her participation in the implementation of the selected business project under the terms and conditions of the Bitbon Public Contract of the given project by exchanging his/her Bitbons for Projectbons of this project.

It should be specially noted that the legislative regulation of Bitbon as the key component of the described System occurs exclusively in a legal field, which ensures transparency of all processes and transparent interaction of all Bitbon System Participants. Due to the laid down operating principle, the property owners (Asset owners) and Bitbon System Participants have an opportunity to establish and control their legal relations with the possibility of having in circulation only the right to acquire the property right to Assets. Thus, the property itself remains in the ownership of its owner on the terms stipulated in the Bitbon Public Contract, solely as an object of ensuring obligations of the property owner (Asset owner) to Bitbon owners.

In view of the above-mentioned properties of Bitbon, its global task and target are to become the optimal tool for management, evaluation and measurement of the cost of any type of values and, consequently, to establish a foundation for the emergence of the common global database that is updated in a real time mode and contains the objective information on all assets and resources available to the world economy that, as a consequence, will result in the emergence of new methods of analysis, which allow using precise mathematical calculations, as well as the information on the rational use of all resources for the most effective management of the human society development.

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