This document is a multi-level economic and legal analysis of the Bitbon System conducted on the basis of the general concept laid down in the Bitbon System Public Contract, as well as on the legal aspects of the Bitbon System functioning in the international legal field.
In particular, the principles and mechanisms that ensure interaction of the fundamental components and of the Bitbon System Users when using digital assets were studied.
This document is formed based on the conclusions received as a result of the conducted etymological analysis of the term “digital asset” that includes four approaches: economic, legal, information and value. The basis for this research is the need to form the most precise definition of this term in the economic and legal aspects.
All the components of the definition of digital asset were analyzed, while the connection between them was identified and proven.
The scientific and legal opinion was created according to the results of researching the Bitbon blockchain token for correspondence to the criteria of a digital assets in order to determine the level of such correspondence. The analysis of the Bitbon blockchain token is based on the approach and interpretation of the results presented in the methodological manual “Methodology for Determining Whether a Blockchain Token Corresponds to a Digital Asset”.
The definition of Bitbon as a digital asset is the foundation for legally protected implementation of the property right of owners to their Bitbons in accordance with all international standards.
In addition, the property right to the Bitbon digital asset can be represented in accounting documentation as an intangible asset in accordance with the International Financial Reporting Standards 38 “Intangible Assets”.
The scientific and legal document “Digital Assets as an Object of Legal Regulation” is based on the results of the research of typical characteristics and properties of digital assets in light of their legal circulation.
The conducted comparative analysis of properties of crypto currencies and digital assets showed a significant difference between the two when it comes to functioning and use purposes. Considerable attention was paid to distinctive features of legal regulation of digital assets and crypto currencies in various countries based on the existing legislations and blockchain initiatives.
A separate section of the document is dedicated to the functioning of digital assets using the Bitbon System as an example of a blockchain platform intended for circulation of digital assets based on their legal nature.
The Company’s activity corresponds to a high level of openness, transparency and security of cooperation, which is confirmed by an open access to legal documents that guarantee protection and extensive support.
Our Company follows all the rules of financial activity strictly and with great responsibility, providing its Customers with a reliable professional foundation.
