Simcord, formerly known as a software development company for the UBK Markets broker, has issued its own crypto currency backed by real assets. It should be noted that the developers themselves moved away from standard names and used a concept called “crypto value” because, according to them, it better reflected the essence and unique properties of Bitbon. Let us figure out why Bitbon is so valuable to investors, what prospects it has and what crypto currency specialists say in their reviews.
2013, the year of the first ICO and an incredible crowdsale market take-off. Every day hundreds of startup companies attracted thousands of investors to their projects. In the beginning, it was enough just to draw up the White Paper and the Road Map and money started to fill your pockets. Sure thing, if there is big money, there are fraudsters. Investors were faced with the problem relating to the fact that the majority of “brilliant” business ideas remained to be just ideas, and the raised money was quickly spent by its owners. In addition, no country has laws providing penalties for such “startups”; crypto currencies are not subject to regulation.
Today, the crowdsale market already offers some “safety cushions” for investors. The issues of the crypto market regulation are constantly being raised at the governmental level; bills are being adopted allowing crypto industry to become more transparent and legal. But all this is far from being perfect, and society needs an effective model.
Bitbon itself is an entire ecosystem for attracting investments to promising projects. This System is based on the laid down safe model of controlling financing and further use of the raised funds.
What Makes This Model Different From the Current Ways to Protect Investors?
The problem related to safety of crypto investments is a global one and, of course, many platforms for attracting financing work on various ways to protect investors — for example, the involvement of project advisors and moderators. They evaluate the project at the beginning of the fundraising process by auditing the company, checking the validity of the business idea, making sure the main documents were drawn up correctly, etc. But what guarantees that all this is not created in order to get money, how can one be sure that advisors and moderators do not take money for their high assessment?
The Bitbon System Can Solve All These Problems
Each project is verified by the Bitup-Agency. These are real people responsible for fulfillment of their functions rather than a virtual organization. The Bitup-Agency must be licensed to conduct business, and its employees have to be qualified specialists in the fields of law, finance and business. The verification procedure also includes such aspects as business idea validity, legitimacy of company’s activity and backing by assets. In addition, this organization helps to draw up a special agreement called the Projectbon Public Contract in the Bitbon System. This legal document is a digital agreement similar to the offer digitalized into a smart contract, which contains all terms and conditions for attracting funds and obligations of the parties to the contract. The Bitup‑Agency continues its work when the project is admitted to the exchange. The next goal of the Bitup-Agency is to monitor the fulfillment of obligations. For this purpose, a stage‑by‑stage financing is envisaged in the System. All stages with all necessary amounts of funds are specified in the Projectbon Public Contract. The Bitup-Agency monitors the implementation of each stage and, if everything goes according to the plan, the project receives the next amount of funds.
Needless to say, investors are much more interested in working within such a system, unlike fraudsters.
Another important factor is backing by real assets. It is achieved by continuous turnover of Bitbons during the fulfillment of obligations to the investors and asset growth of the project itself. For example, if the contract states that dividends must be paid in Bitbons, the business owner, who makes profit in fiat money, will have to buy Bitbons and pay out the specified amount to investors during the asset growth. Thus, Bitbon is always tied to the assets of the projects and is less subject to volatility than other crypto currencies.
The Bitbon System is a very promising platform opening up new opportunities for both Internet projects and the real sector of economy. This platform is not for everybody, but for those who want to have transparent relations with customers and work exclusively in a legal field.