The total value of digital investments soared by 20,000% during 2013-2018 and reached about $300 billion. While it is still much lower than the capitalization of the global stock market (over $600 trillion), there are no signs of slow down, which means that the crypto industry has enormous growth potential.
The global economy is moving towards a new era of large-scale digital integration based on blockchain technology. However, at this time the vast majority of blockchain projects exist outside the legal framework. They offer a concept of democratized digital investments and fundraising but fail to provide the fundamental infrastructure components that ensure transparency, legal status, and investment protection. The lack of legal status is dangerous for both companies and investors as it creates risks of fraud, regulatory crackdown and even liquidation.
In response to these challenges, Simcord LLC Technologies has developed the Bitbon System, a totally new approach to crowdsale and asset management based on smart contracts and blockchain technologies. The Company, with an extensive background in the development and production of high-load blockchain-based software solutions, operates in compliance with international management standards and guarantees complete audits for all projects implemented on the platform.
What is the Bitbon System?
The Bitbon System is a large-scale infrastructure project, based on a decentralized platform for contributing, a process of fundraising that combines the best features of blockchain tools and infrastructure components. Basically, the system operates within the existing legal framework, which reduces the risks of regulatory issues, and offers double protection for all the participants as the contractual information is stored in immutable smart contracts, while all disputes can be settled through traditional legal proceedings.
How It Works
Bitbon is a natural crypto currency asset of the platform and the first digital financial instrument, backed by the assets of the real economy. The cost of Bitbon depends on the value of the underlying assets, which sets it apart from other crypto assets and makes it entirely safe and transparent. All transactions with Bitbon are recorded in the blockchain, which means that no one can either change or delete them.
Initial Business Offering, or IBO for short, is one of the principal tools of the System and the most critical competitive advantage of the Bitbon System over all existing forms of public financing, including crowdfunding or ICO. IBOs fully meet all regulatory requirements and comply with all legal formalities.
All companies or individual entrepreneurs need to pass verification, upload their documents and supply personal information before they are allowed to create public contracts and start raising money from investors. They specify their fundraising terms, the goals of the project, funds distribution rules and other conditions that are audited, digitalized and registered in smart contracts, thus making the agreement between business and investors immutable and excluding the human factor from the process. Apart from that, stage-by-stage financing scheme reduces default risks and provides investors with additional protection.
Bitbon System Crowdsale Details
Simcord has successfully finished its pre-sale, closed crowdsale rounds and launched the public sale with the aim of raising $400 million. The crowdsale will be finished on October 10 or as soon as the hard cap is reached, whichever happens first. There are only 70 million Bitbons available for sale, at a dynamically calculated price, based on a unique formula specified in the White Paper. The current Bitbon/USD exchange rate is $6. The team accepts both crypto currencies, such as Bitcoin and Ethereum, and fiat money via Visa/MasterCard, wire transfer and electronic payment systems.