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Bitbon Protocol Update (as amended on July 15, 2020)

Bitbon Protocol Update (as amended on July 15, 2020)

In view of implementation of the development stages of the Bitbon System in accordance with the Roadmap, the “Bitbon Protocol” information resource has been largely updated today. As new System components and services were developed, there was a need to not only define the new terms, but also bring the existing ones in line with them.

Thus, 38 new terms were developed, 58 existing terms and their definitions were amended, and 8 terms were abolished.

As you know, establishing principles of regulating the processes happening in the Bitbon System is one of the most important tasks of Simcord as the first Bitbon System Operator. Development and launch of new System services and components in turn require making appropriate amendments to the Clauses of and Appendices to the Bitbon System Public Contract.

Therefore, 37 Clauses of the Bitbon System Public Contract were amended, and the list of Appendices was expanded to 26 items. The Appendix “Mining in the Bitbon System” was drawn up and published, and the Appendix “Making Amendments and/or Additions to the Bitbon System Public Contract” was amended.

The inventory passport to the nonmonetary asset “Infrastructure Asset of the Bitbon System — Simcord” was updated. Four new trademarks as well as the patent “The Method for Executing a Digital Value Transfer Transaction and the Digital Value Transfer System for Its Implementation” (registered in Russia) were added to it.

Apart from the above, Appendix No. 4 to the Bitbon Protocol was updated and its name was changed to the “Agreement on Assignment of the Right of Access to the Bitbon System Services”.

In order for you to understand the content of the official information resources of the Bitbon System correctly, we underlined the terms, which, together with the pop-up tips, makes it much easier to understand the information.

You can read the full list of the amendments in the Order “On Formation of the “Bitbon Protocol” Information Resource by Making Additions to It” signed by the CEO of Simcord LLC by following the link https://information-resources.bitbon.space/pdf/order-on-formation-of-the-bitbon-protocol-information-resource-by-making-additions-to-it.pdf