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Bitbon System — Product, Project, Start-up
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Bitbon System — Product, Project, Start-up

As you know, the Bitbon System, in its essence and stage-by-stage implementation of services, is not only a high-tech social network, but also a global start-up. This is confirmed by the development of the Bitbon System Community and, in particular, the development of ​​the Company’s partnership activities. Simcord’s information support service receives numerous requests from our Partners to help them figure out how the Bitbon System is positioned as to its promotion at the regional and international levels.

Depending on a specific set of its characteristics, the Bitbon System can be viewed from different points of view, for example:

  • IT PRODUCT, since Simcord is the developer of the Bitbon System infrastructure; the components and services are added according to the Company’s plan;
  • PROJECT, since the Bitbon System Social Network is developing in accordance with the public Roadmap;
  • START-UP, since to enter the market and subsequently commercially operate the Bitbon System infrastructure, the Company goes through all necessary stages of successful implementation of a business idea.

Thus, the Bitbon System must be considered as a Ukrainian start-up, because the Company not only implements a fundamentally new idea for the whole world and occupies a certain market niche, but is also an active participant in the creation and development of new markets using cutting-edge technologies.

In general, there are many types of start-ups in the world: IT start-up, social start-up, small business start-up, etc.

Overall, for a start-up, innovation is one of the main characteristics alongside utility. The modern pace of life and its realities require a colossal dynamism in communication and solving economic needs from a resident of any country. Thus, the Bitbon System, as a social network of economic orientation, offers effective tools to meet the needs of society.

The Bitbon System as a start-up also has got the development dynamics, and it is clearly traced. The Bitbon System as a start-up is 5 years and 7 months old from the launch date. During this time the Bitbon System has already passed a certain path according to the stages of the start-up’s life cycle, that is, the development dynamics of this start-up is obvious. At the same time, it is a well-known fact that many start-ups are created for a long term (several years) and with an extended period of time to enter the market.

As you know, there are several approaches to classifying start-up development stages, one of which involves going through five stages: seed stage, start-up stage, growth stage, expansion stage, and exit stage. The Bitbon System also goes through these stages, and they can be briefly described as follows:

1. Seed stage

From March 13, 2017, distribution of electronic Bitbon Certificates started as part of the pre-sale.

 On March 13, 2018, at the stage of internal crowdsale, the Company allowed registering electronic Bitbon Certificates in the distributed ledger (blockchain) of the Bitbon System.

Public crowdsale started on June 17, 2018. Since then, Bitbon has been in open distribution, and according to the Bitbon System Roadmap, it was possible to purchase bitbons until October 10, 2018.

2. Start-up stage

The initial infrastructure of the Bitbon System was launched on March 10, 2018, and the Bitbon System Public Contract came into force.

3. Growth stage

This stage includes the following activities:

  • Conducting scientific research.
  • Establishment of the Research Center of Blockchain Solutions.
  • Organization and holding of international conferences.
  • Development of an economic and legal model for a decentralized social network of economic relations.

Everything completed at this stage formed the basis for the development of the Bitbon System services, led to the systematization of the experience and theoretical knowledge gained, as well as to the formation of the concept of the economic, legal and technological nature of the Bitbon System. The results obtained made it possible to determine the further natural development of the Bitbon System and its compliance with international legal norms.

All this allows the Company’s specialists to develop and build up unique base services based on serious scientific developments in the field of law, public governance and microeconomics, thereby creating a solid foundation for the entire Bitbon System and a perspective for the coming decades. The updated strategy of Simcord confirmed it clearly.  In general, these achievements allow the entire Bitbon System Community and each of its Participants to confidently “integrate” into the changing global system of economic relations and profitably find themselves in it. First of all, this concerns how to breathe new “digital” life into old assets and establish your e-commerce using the latest interdisciplinary scientific and practical developments of the Company within the unique ecosystem of digital services — the Bitbon System.

4. Expansion stage

According to the stages of the Bitbon System development, the following key base services and components of the Bitbon System are put into operation at this stage:

  • One Space service (an app for accessing the Bitbon System infrastructure).
  • Bonpay service (a service that ensures payment for products and services as well as participation in discount and polyfunctional bonus programs).
  • Ethereum Request for Bitbon (ERBB) service (a service for promoting the Bitbon System on global trading platforms and in services using the ERBB token in the Ethereum network).
  • Doc Space service (a service for managing commercial and noncommercial activities).
  • Escrow component (a component that ensures interaction of banking services with the Bitbon System infrastructure).
  • “Tokenization of assets” component (a component for creating digital assets to effectively manage property rights and generate economic benefits).
  • “Contributing” component (a component that provides a high-tech method of financing and managing commercial projects).

Also, the launch of other base services of the Bitbon System is stipulated.

5. Exit stage

This stage is the final one for the Bitbon System as a start-up and is characterized by the following:

  • Registration of 10 or more Regional Operators under a franchise model to represent the Bitbon System Community in different countries.
  • Launch of services ensuring the interaction of the banking infrastructure with the Bitbon System in 5 or more currency zones.
  • Realization of 9 statuses and 17 roles envisioned in the Bitbon System for the emergence and development of new professions.

Thus, upon completion of the exit stage, it will be possible to consider the Bitbon System an accomplished start-up, and the transition of the Bitbon to a full-fledged commercial implementation will begin.

You can view the presentation, which contains information about the Bitbon System as a start-up by following the link: https://information-resources.bitbon.space/bitbon-system-start-up-en.pdf