Since the moment when the idea of creating the Bitbon System was born, enough time has passed to allow the Simcord team, its Partners, as well as the majority of the Bitbon System Users to gain a holistic understanding of its essence and purpose. We try to convey this understanding as accurately and accessibly as possibly by publishing various materials on the official information resources of the Company and of the Bitbon System as well as by organizing meetings, forums and events of various formats and scales. The idea, bold for its time, but also strong, has since been embodied in a concept; we began finding methods for its implementation, until, finally we turned it into a development strategy of the Bitbon System. However, in the context of the global digitalization and the pace of development of the modern world, Gordon Moore’s law indirectly affects not only computer technology. What I really would like to say is that although the main strategy has basic stages with an unchanged ultimate goal, the ways to achieve them constantly require rapid adjustment and adaptation to many dynamic factors that determine the competitiveness, relevance and demand for the product. In particular, this must be taken into account while working on such a large-scale project as the Bitbon System, where it is extremely important to comply with the requirements of the legislation, Users, investors and businesses, not only now and today, but also in the long-term perspective. Understanding this, before launching Mining, our priority was to prepare the foundation for one of the key moments — the 1st stage of the Bitbon System decentralization. For this purpose, our team focused its efforts on several directions simultaneously, which will become the starting point for Consensus building mining in the Bitbon System. We consider such a strategic decision as the only right one, since only upon completion of works on the following directions, the Users will receive a high-quality legal tool for passive earnings and increase in the decentralization level of the Bitbon System.
- 1. On August 15, 2019, Simcord will launch a website dedicated to the 3rd Kharkov International Legal Forum on the topic “Evolution of Economic and Legal Relations in the Light of the Blockchain Technology Development”with an invitation to register for participation. The forum is organized by the Yaroslav Mudryi National Law University, National Academy of Legal Sciences of Ukraine, Ministry of Economic Development and Trade of Ukraine, Ministry of Education and Science of Ukraine, as well as the Ministry of Justice of Ukraine. To visit a forum of such a scale means to plunge into the future of the global economy, to receive valuable information from the world-class specialists and even now determine the right vector for your financial success.
- 2. On August 23, 2019, the news will be published on the upcoming creation by Simcord of the Academy of Information Economy where distance education and four educational modules will be available. The aim of the Academy is to provide structured and relevant information on the distributed ledger technology (Blockchain), Digital Assets, Mining and the functioning principles of the new information economy. This news will also contain a link to a poll in which everyone can answer if he or she wants to attend the pre-start of the Academy of Information Economy in Kiev. We are sure that such education should be provided today, and, in the near future, it will become absolutely priceless. Moreover, Users with such knowledge will be able to more effectively use their Digital Assets as well as develop the Bitbon System, thereby potentially increasing their income.
- 3. Until September 10, 2019, it is planned to publish the methodological manual “Methodology for Determining the Blockchain Token as a Digital Asset”.. With this manual (test in fact), we get a universal tool for determining whether any token or cryptocurrency existing in the world belongs to a Digital Asset. In turn, this document will strengthen the legal basis of Digital Assets based on the Bitbon System, as well as the level of trust in them.
- 4. By September 24, 2019, a presentation of the scientific paper will have been prepared — the monograph “Digital Assets and Legislative Trends in the Light of the Blockchain Technology Development”, whose authors are Alexander Kud, Simcord CEO, Nikolai Kucheriavenko, Doctor of Juridical Science, and Evgenii Smychok, Candidate of Juridical Science. This book includes the following sections: “Theoretical and Methodological Foundations of the Blockchain Technology”, “Practical Aspects of Using the Blockchain Technology”, “Legal Aspects of the Blockchain Technology” and “Fundamentals of the Digital Asset Functioning”. This monograph will be presented at the 3rd Kharkov Economic and Legal Forum and published in several languages. Its purpose is to contribute to a correct understanding of the principle of the Blockchain by the whole modern community, as well as the nature of Digital Assets and their role in the formation of a new information economy.
- 5. The next and extremely important stage before the launch of Mining will be the publication of the updated Bitbon Protocol. This is a serious step towards the integration of the Bitbon System with the real sector of economy. The Bitbon Protocol establishes the type, category, properties and form of circulation of the token, its accounting definition, taxation and much more. I would like to emphasize that Simcord is the first company to offer the world an approach to accounting a token as an intangible asset. This means that, after updating the Bitbon Protocol, any company will be able to buy Bitbons and record them in the company’s balance sheet and then operate them in the existing legal field. Each User will have the right to buy and sell Bitbons for any currency in the world. In addition, this document proves that backing of Bitbon by real Assets is legally justified.
- 6. In the second half of October 2019, it is planned to complete work on the updated Bitbon Space website, which will contain the materials listed in this publication and lots of other useful information, including information on Mining. Cooperation will be proposed to businesses, exchanges, forums and the media, states, institutions, Bitup-Agencies and the Bitbon System Operators.
- 7. It is also very important to complete the development of integration APIs for exchanges, on which the Bitbon Digital Asset will be traded, before the start of Mining. Attracting and connecting third-party exchanges will contribute to more active promotion of Bitbon, its stable value growth and liquidity, as well as an increase in the number of the Bitbon System Users. This decision is intended, among other things, to accelerate the pace of the Bitbon System development.
- 8. On September 24 - 28, 2019, the 3rd Kharkov International Legal Forum, which was mentioned above, will be held. More than 800 participants are expected from 20 countries, including legal experts, public officers, activists of public human rights organizations, businesspersons and students. The representatives of Simcord will be among speakers and will make the following presentations: “Legal Nature of the Bitbon System”, “Social Networks and New Economic Ecosystems Based on the Blockchain Technology”, “World Experience in Cryptocurrency Regulation and Trends of Digital Asset Integration into the International Legal Field” and “Role of the Bitbon System in the Development of the New Information Economy Based on the Blockchain Technology”. In turn, this will strengthen the status of the Company at the international level and will favorably influence the promotion of the Bitbon System.
- 9. The final testing of One Space web and mobile will be conducted, which is a socially-oriented resource of the Bitbon System and has the necessary functionality as well as a set of tools for communication: creation of chats and public channels. In the future, One Space will allow not only exchanging your Digital Assets, but also paying for goods and services using the discount system of savings, as well as fully running a business of any scale, attracting investors, finding projects for financing and participating in the Bitbon System development.
- 10. A new section will be added to the official website of Simcord Company, which will provide information about the Simcord team, independent directors, as well as advisers and Partners. Not only it will improve the Company’s image, but will also help to establish more effective business relations worldwide with Partners and investors interested in the development of the Bitbon System.
- 11. In the first half of October 2019, it is planned to publish two scientific and legal expert opinions: “Digital Assets as an Object of Legal Regulation” and “Legal Nature of the Bitbon System””. These documents will allow the Bitbon System to rapidly develop on a global scale, and experts in the fields of economy, law and business — to effectively use capabilities of the System without any regulatory restrictions.
- 12. In October 2019, an event dedicated to the pre-start of the Academy of Information Economy and the Partnership Program at this Academy will be held in Kiev. It is planned to host more than 500 participants, including Partners from many countries of the world. The establishment of the Academy for distant education is a big step and a tremendous amount of work for the Company. However, we understand the importance and necessity of updating education in the field of information economy for the Bitbon System Users and the whole society in the light of rapidly developing technologies, popularity of the Blockchain and the widespread use of Digital Assets.
In conclusion, I would like to say that hardware and software implementation of Mining is currently at its final stage. However, it is just the tip of the iceberg and a small part of what we have to do in order to launch it completely. We do not strive to create an incomprehensible and unnecessary tool. Our goal is to provide you with a ready-made, operating mechanism in all terms: legal, reliable and affordable. That is why to launch Mining, it is necessary to implement the above-mentioned planned works and events; and only after that, with the start of Mining in the Bitbon System, its rapid promotion will begin. The popularization of Mining will be increasing and developing, and it will become a more profitable type of activity.
Thus, Simcord plans to carry out the presented list of events and activities by November 2019, before the start of Mining. This month, the website dedicated to Simcord Innovation Technologies 2020 will also be launched. This event will be held in Kharkov in the hall with a capacity of more than 1,000 people and streamed live in Russian and English. It will be the day when we can say with confidence that we have a solid technical, informational, scientific and legal basis for the start of Mining. The day when SIT 2020 is held, Consensus building mining in the Bitbon System will be launched.
Dear Users and Partners, on behalf of the whole Simcord team, I would like to wish you all fruitful activity and inexhaustible inspiration. Thank you for your trust and support. I can confidently say that those who are participating in the promotion of the Bitbon System are building a foundation of guaranteed success, as the future of the whole global economy will be based on information platforms such as the Bitbon System. Today, we use this unique product, and tomorrow the whole world will use it!
Kind regards, Alexander Kud