OF SIMCORD CEO
Simcord has a special mission. I would even say that it is unique due to its nature and social and economic globalization. It has been almost two decades since our team of like-minded people who were at the Company’s origins realized that our goals should be aimed at carrying out this mission, and the tasks performed by the Company’s specialists should facilitate prompt achievement of our goals.
All this time, we were contemplating the necessity of creating a more perfect society, which would be based on automated systems of financial asset management and mechanisms to ensure transparency in public administration. Today, we see that the world is developing rapidly, generational change of technologies has become a permanent process, and information space is expanding at the rate that exceeds the capabilities of analytical tools. These trends lead to decreased stability of financial systems and, as a result, to decreased reliability of usual financial instruments, which were used to preserve savings and long-term investments. They also result in increased complexity and cost of attracting investments to business, since traditional financing methods require long (in order to reduce risks) and complicated procedures of proving the solvency of business and related projects.
In response to these challenges, the society and the market created various crowdfunding platforms, which quickly suffered the same fate as traditional investment institutions — they went bankrupt, turned into pyramid schemes or became so strictly regulated that lost their meaning. The reason for that were the same problems of proving the solvency of business and related projects in modern informational conditions.
Nowadays, we see the increased intensity in the integration of global economy, which, along with computerization of financial systems, creates favorable conditions for the development of a new information economy based on the distributed ledger technology (blockchain). We analyze global trends and understand the prospects of development of this field in light of advantages of using digital assets as a new type of a regulator of relations between entities of the future economic system.
I am proud of Simcord team because their efforts led to the creation of the Bitbon System based on the blockchain technology. The Bitbon System is basically an information system, the components and mechanisms of which allow the Participants to operate digital assets, which, overall, is aimed at developing the global market of information resources, products and services based on distributed ledger technologies. Meanwhile, the support of our initiative of legal backing of digital assets at the governmental level from state institutions is a very important indicator.
And the most important thing is that the Bitbon System not only provides a lot of opportunities for its Participants and allows solving numerous problems and contradictions of modern economic relations, but also is the only effective integral platform for building a new type of socioeconomic relations based on the progressive economic model.
It is no coincidence that developing the Bitbon System is our top priority as part of implementing the Simcord’s strategy. Its main distinction from attempts of other developers is the desire to form a reliable and completely open environment for interaction of all Bitbon System Users. I would like to note that today these processes are related not so much to performing simple transactions, which have already become a common thing, as to the global economic transformations that the blockchain technology impacted.
This socioeconomic transformation made conditions for changes in the structures of state and legal system related to the necessity to create digitization mechanisms and method as well as an implementation platform. Nowadays, in view of establishment of new economic and legal relations, using asset data in digital form instead of actual assets is quite expected and natural. Most importantly, such usage is possible from the technological point of view, and it is implemented in the informational Bitbon System.
Now I can confidently say that Simcord is one of the driving forces of this global transformation of both technological and socioeconomic fields. I know for a fact that our Company, which is also actively participating in advising on and drafting legislative initiatives, is already talked about at numerous international events. People argue with us, ask uncomfortable questions that humanity couldn’t find answers to for decades and even centuries…
And I, as a realist used to working with facts and specifics, would like to address our opponents: ask your questions now at our forums, legal councils, participate in roundtables, conferences and numerous seminars!
I am convinced that we have created a strong and reliable foundation, which means that we are ready to set new goals and achieve them successfully. To that end, Simcord has adopted the development strategy for the period of 2018–2035 for its main areas of activity. The implementation of this strategy will allow everyone to appreciate all the advantages of information systems, use the new opportunities to the full extent and, as a result, contribute to the development of the new market of information resources, products and services based on distributed ledger technologies.
VISION OF THE FUTURE
According to the theory of historical materialism, the basis of society is economy, which is understood as the system of social and economic relations. There are several types of social and economic relations and, therefore, several qualitatively different economic systems. However, despite all the differences between them, money is the fundamental common factor.
People who analyze the events happening in the world realize that the global economy will become cash-free soon. This is an evolutionary process, which means, it’s only a matter of time.
Simcord looks to the future and claims that there will be no money. Even more, there will be no such notion as “money”. It will be replaced by digital assets of people and states. Asset accounting and circulation control will occur automatically and without human interference. Such a system will certainly create an environment for exchange of digital assets that will have no place for intermediaries using money to harm the society. The new information economy based on distributed ledger technologies will change people, society and, by extension, the whole world.
DEVELOPMENT STRATEGY 2018–2035
- Launch of the Bitbon System
- Exchange of Digital Assets
- Connection of exchanges
- Establishment of the network of Bitup-Agencies
In order to start implementing the development strategy for this period, it is necessary to launch basic components and mechanisms that will allow conducting processes in the Bitbon System based on the Bitbon System Public Contract. All this should facilitate the creation of a transaction environment on the basis of such mechanisms in the shortest time possible.
When it comes to developments, one of the Company’s priorities is integrated improvement of software used, which will allow expanding the System’s functionality in the future in accordance with the plans for the Bitbon System development.
Simcord plans to launch the entire range of components and services of the Exchange of Digital Assets as soon as possible. This will allow the Bitbon System Participants to actually manage their digital assets.
Arrangements regarding interaction with large exchanges will be aimed at ensuring the functioning of venues with aggregated liquidity of digital assets.
Preparation for the beginning of interaction with the real sector of economy will be conducted according to the development stages of the Bitbon System in order to register first digital asset Protocols in the System.
Simcord will focus on creating an environment for successful formation of the Bitbon System Decentralized Autonomous Community as well as establishing and expanding the network of Bitup-Agencies all over the world and providing them with methodological and technical support, training and certification.
Domestic and international events conducted by Simcord and aimed at promoting the market of information resources, products and services based on distributed ledger technologies as a progressive model of the global economic system ensure the development of a new type of socioeconomic relations.
- Social activity
The Company will organize and conduct topical seminars, forums, briefings and presentations featuring leading experts in their fields, which will allow exchanging up-to-date information and gained experience including practical one.
Throughout the period of its activity, Simcord will focus primarily on creating optimal conditions for the development of high-tech business, which will serve as a prerequisite for improving the quality of social life.
The Company’s specialists will continue analyzing legislative initiatives in economy of different countries to be able to act as experts and consultants for the lawmakers who see real prospects of developing the economy on the basis of the distributed ledger technology (blockchain) and choose a progressive path for the development of their country.
We have also determined our agenda for this period with regard to working with representatives of various non-governmental and political organizations. Cooperation of this type will take place with the use of the existing mechanism provided for by constitutions of different countries and will contribute to faster realization of the advantages offered by new trends for the preparation and adoption of relevant laws.
In general, Simcord plans to conduct large-scale public activity, actively participate in social life and lobby legislative changes aimed at improving the quality of life and implementing transformations that increase the efficiency of economy and investment attractiveness of regions.
- Simcord blockchain
- Expanded possibilities of individual mining
- Failsafe distributed storage of private and public information
- Automatic scaling and reallocation of the distributed ledger (blockchain) resources
- Implementation of smart contracts based on components of a new type
- Voting system
- Global identity verification system
- Continuously available server for identification and authorization
- System for identity profiling and scoring
According to the Bitbon System development stages, it is planned to expand the possibilities of individual mining by the Bitbon System Participants through the use of computing resources, Internet bandwidth and allocated disk space for storing information of the Simcord blockchain. The main goal of implementing these developments is to make the Bitbon System completely decentralized.
Software development during this period will also be aimed at solving the issues of scaling and reallocating the blockchain resources, which must occur automatically based on current needs (fulfilled conditions). In particular, comprehensive research will be conducted to analyze the use of sharding — a technique for scaling and working with data, which will allow dividing the database into separate parts and transferring each part to a separate server in the near future.
The Company’s specialists will also work on expanding the functionality of the Simcord blockchain to transform it into a decentralized environment for execution of smart contracts. Among other things, it is planned to implement the System components for storing ID documents, biometric data and other parameters for identity verification.
It is strategically important to achieve a highly efficient use of computing resources and high speed of the System’s functioning within the specified period. In this regard, it is planned to conduct research and development in managing allocation and dynamic reallocation of resources between the System components as well as in ensuring reliable data storage and automatic optimization of the transaction speed. There will also be separate research aimed at using intelligent scoring algorithms on the basis of information stored in the System.
- Secure messenger (new standard)
- Content publication and delivery
- Blockchain-based Internet (websites)
- Blockchain-based video hosting
- Information network (adjustable and moderated information pool)
- Smart search engine that can also analyze the contents of any multimedia files
Simcord’s specialists will work on improving the blockchain functionality in several directions simultaneously, in particular, regarding the exchange of messages and video files between Users, which basically will become the defining feature of the blockchain-based digital messenger and will serve as a prerequisite for the emergence of a new email and messaging standard.
Innovative technologies used by the Company for software optimization will include guaranteed encryption and protection of data. It means that, during message transmission, execution of such operation will be recorded, and the message itself will be transmitted and stored in encrypted form.
The next development stage will be creation of a common base in the Simcord blockchain whose data will allow performing indexing and smart search involving the analysis of the contents of multimedia files. It is also planned to implement the functionality for dividing data into private and public.
- Platform for hosting commercial and free services by the Bitbon System Users
Simcord’s plans include implementing ideas about expanding the capabilities of the smart contract system aimed at creating various services with minimum costs. At the same time, future implementation of the technological solution for integrating the billing system is meant to significantly simplify and accelerate both the creation and the use of commercial services.
Such smart contracts will be developed by the Company for various purposes. For instance, it is planned to create services using which one can post in the blockchain any information about the surrounding physical world (weather, energy consumption, road traffic, cargo delivery, etc.) or information received from other sources (currency exchange rates, macroeconomic indices, etc.). In the future, this will be the basis for a new mechanism, which will allow evaluating any events in real time with subsequent optimization of their use for governmental and commercial purposes.
- Decentralized exchange (component of the Bitbon System)
- Integration of commercial networks
- Implementation of a system of subscriptions and regular payments
- Global system of discounts, savings and bonuses
Creation of a decentralized exchange as an integral component of the Bitbon System is very important for Simcord. Software solutions developed by the Company during this period will be aimed at combining a large number of different digital assets into a single system. This decentralized exchange will allow exchanging digital assets quickly and reliably without intermediaries and exchange fees.
It is planned to create innovative technologies and use them for the development of payment gateways in order to quickly integrate commercial networks into the System. As part of this process, commercial networks will receive profit from mutual settlements with suppliers and buyers within the System.
The Company will develop programs for introducing subscriptions and registering regular payments, which should reduce the overall cost of products and services and allow offering significant discounts for buyers. Creation of a global discount system by Simcord is intended to provide the buyer with a simple method of receiving discounts without special registration in different commercial networks. The Company’s technological solutions for creation of a rating system and application of scoring algorithms should enable the buyer to receive significant advantages already when using the System for the first time.
- Decentralized financial and investment platform without intermediaries with a variety of different derivative instruments and trading venues
- System of cumulative and insurance investments
- Evaluation, accounting and management of assets
- Management of property and non-property rights
- Social savings programs
Simcord plans to conduct developments aimed at increasing the number of available methods for working with digital assets in the Bitbon System: combining them into indices, creating investment portfolios as well as issue of own digital assets of various types for different purposes by the Bitbon System Participants.
Progressive development of Contributing will provide new opportunities for creating cumulative and insurance investment portfolios. Special algorithms are expected to be implemented in the System; they should minimize risks due to transparency and predictability of project implementation and, at the same time, contribute to achieving high profitability due to automation and reduction of operating costs.
The Company’s solutions for digitization and registration of assets in blockchain-based ledgers will be aimed at simplifying the management of rights to such assets: purchase and sale, lease and rent, shareholding, etc. During this period, it is also planned to actively promote distribution of services publishing information on the status of assets in the blockchain. This will allow simplifying the evaluation, accounting and management of such assets as well as reducing risks.
A separate direction of Simcord’s expected activity is portfolio investments implemented on the basis of the blockchain technology due to the Company’s new and innovative solutions. For instance, it is planned to implement pension savings in the digital space as a type of investment portfolios built from investments in projects with long implementation periods and low risks. Creation and implementation of intelligent algorithms by the Company will allow forming special pension indices based on such projects as well as pension funds for each Bitbon System Participant individually. The blockchain technology and the smart contract implementation environment will allow paying out such pension investments with a 100% guarantee.
- Next-generation business-oriented network
- Social network with cumulative rating
- Global rating of Users and their expertise
Simcord will create conditions under which all Bitbon System Users can be united into a single next-generation business-oriented network. This should facilitate the establishment of a common social network of suppliers and buyers of various products and services, creation of a common rating database for all Users as well as organization of groups for providing a package of services.
- Platform for issuing currency protocols (for communities, regions and countries)
- Emergence and development of transnational non-governmental regulators
- Establishment of economic rules and regulations
- Regulation of legal relations occurring when digital assets are used, in which digital assets act as regulators
- Financing of projects and companies
- Single global system for selling and purchasing products and services
Using its software solutions as a basis, Simcord plans to create high-tech products and services whose implementation will allow individual companies and groups of companies to use the blockchain platform for issuing their own digital payment units in any convenient form. In the future, such local accounting units will be regulated by the smart contract system by agreement between the Participants. In addition, large corporations will require establishment of non-governmental regulators, which will ensure coordinated development of rules for using such digital assets.
Special attention will be paid to the development of services in the blockchain platform for publication of offers regarding products, services and delivery conditions as well as for implementation of a convenient method for conducting mutual settlements when planning, ordering and delivering products and services provided that the majority of processes (for example, selection of suppliers, order placement and mutual settlements) in this System can be performed automatically. After implementation of these services, suppliers will be able to find customers more quickly and easily, and buyers will be able to quickly (automatically) choose the most favorable offers and place orders. Additionally, special ratings of suppliers and buyers are expected to be created, which will guarantee the fulfillment of obligations by all parties involved.
- Issue of digital assets by the state
- Management systems for states and economic alliances
- Maintaining ledgers of all assets managed by the System
- Creating private and national currency protocols
- Maintaining transaction history
- Maintaining classifiers for all types of products and services used by the System
Implementation of new high-tech services developed by Simcord will facilitate the establishment of conditions for issuing national and regional backed digital assets that perform the functions of a currency, which should make their regulation much simpler, increase their stability and enhance people’s trust in them.
Rapid development of Contributing will allow using the principles of this type of activity for investing in the infrastructure of cities and regions and receiving remuneration from the use of such infrastructure. In the future, it will be possible to implement regional digital assets in the System in order to collect payments for using local infrastructure.
It is expected that a greater range of activities will allow the Company to cooperate with authorities more efficiently, participate in law making and lobby the use of systems for the management of natural resources and urban infrastructure based on the blockchain platform developed by Simcord.
Implementation of such systems will be aimed at faster economic development of regions where these systems will be used as well as at simplifying business operations and interaction of business with government agencies. It is very important to understand the potential opportunities, which will significantly limit corruption and reduce the expenditures for maintaining the state machinery due to automation of decision making.
We understand that by following the adopted strategy of the Company’s development, we not only hasten the golden age of blockchain-based information economy but also contribute to shaping a responsible progressive society right now.Simcord Team