The First-Ever Buy and Sell Transaction of the Bitbon Blockchain Token as an Intangible Asset Between Ukrainian Companies

Today, two Ukrainian companies have executed the first buy and sell transaction of the Bitbon blockchain token as an intangible asset in the world. Project Consulting Group bought 100 Bitbons in the amount of 16,757 UAH (equivalent to 700 USD calculated as 1 Bitbon equal to 7 USD) from Simcord, thereby assigning rights of access to the services of the Bitbon System in the amount of 0.0001%.

This event is unique as the transaction was concluded within the current legal framework and did not require specific regulatory mechanisms.

This transaction proves the legitimacy of application of the blockchain technology in business activity of an enterprise. Thus, the Bitbon digital asset as a blockchain token can be registered in the accounting of an enterprise as an intangible asset in accordance with the International Financial Reporting Standards (IFRS) 38 “Intangible Assets” dated January 1, 2012.

The buyer’s payment order and the seller’s bank statement confirming the transaction can be found below.

Simcord CEO Alexander Kud will tell you more about the mechanisms of this transaction during the information briefing that will take place in the “Oasis” conference hall in Kyiv on December 9, 2019.