Home / Cryptocurrency / Review of Bitbon Cryptocurrency. Overview, Prospects, Predictions for 2018-2019

Review of Bitbon Cryptocurrency. Overview, Prospects, Predictions for 2018-2019

The Bitbon System is a Blockchain platform for Contributing. Contributing is the name of a new type of investing and attracting funds to your business projects. This type of activity should replace the currently existing model of conducting ICOs that tends to involve fraud, absence of guarantees and project control.

Team

Simcord, which is an international IT company and the developer of the Bitbon System, includes 6 more organizations: Simcord Advanced Marketing Solutions LLP, Simcord Information Services SIA, UBK Markets Limited, Integrated ECN Limited, Bitbon Transfer Ltd, Information Agency “PROK”.

The main areas of activity are: software development, marketing, intellectual property, scientific research, public activity.

Total workforce is over 150 people. Most staff members are programmers, working with various programming languages, such as Java, C#, PHP, JavaScript, Go, Solidity and so on.

In addition to the experts in the field of programming, Simcord Company employs system analysts, technical writers, mathematicians/algorithm designers, marketing specialists, lawyers, customer support specialists, office managers, translators, project managers, and system administrators.

Crowdsale

On June 17, Simcord Company entered a public crowdsale stage with a hard cap of $400 million. To this day, the company conducted the pre-sale and internal crowdsale stages among the company’s customers and raised over $50 million.

Public crowdsale lasted until October 10, 2018.

Price Predictions

According to crypto analysts, this project is quite interesting, and the company has its own history and a number of successfully implemented and currently functioning projects. Just as important is the fact that Simcord is already operating, and all funds raised during the crowdsale stages are being successfully used to realize their ideas. The plans are promising, and when it all comes to fruition, Bitbon as a cryptocurrency will surely skyrocket.

There are different opinions of Bitbon in reviews, but one thing is for sure: the crypto community is quite interested in the project.

Idea

The Bitbon System contains a number of unique features laid down by the developers. First and foremost is the link to the real sector of economy through Contributing (to remind you, it means investing within the System). Bitup-Agencies are a connecting link between the real and the digital worlds. These Agencies were created to ensure guarantees to investors and business opportunities to entrepreneurs. Any solid financial or judicial structure, like a bank, a notary office, an audit company or a broker, can take up the role of such an organization.

Bitup-Agencies act as auditors and consultants during the process of attracting funds to their business projects by entrepreneurs.

The interaction system in the Contributing process is as follows:

  • The entrepreneur (Contractat in the System) turns to the Bitup-Agency with his/her business idea.
  • The Bitup-Agency verifies the validity of the business plan and draws up a Projectbon Public Contract (a legal document converted into a digital format containing terms and conditions of interaction of all parties in the Contributing process).
  • If the project is promising, the Bitup-Agency publishes it on the exchange, where investors (Contributors in the System) can help the project in order to gain profit in the future, when the project is implemented. The fundraising process is called IBO.
  • After the IBO is completed, the Contractat receives the raised funds in stages.
  • At each stage, the Contractat must report on the project implementation to the Bitup-Agency.

The interesting thing is that the Bitbon System itself also participates in the IBO as an investor. Thus, according to the terms and conditions of the contract, the profit will also be distributed into the System, thereby contributing to its development and self-enrichment.

Mining in the Bitbon System

Mining is also envisaged and will be available in March 2019. 30 million Bitbons will be allocated to pay remuneration for mining as an initial capitalization of the Fund. They will be transferred from the Assetbox (a wallet in the System) of the Bitbon Capitalization Fund (the volume of Bitbons that belongs to the System and is used in Contributing). Afterwards, the Assetbox of the Mining Fund will be filled up with remuneration received from the profit raised by the System during the Contributing process.

Where Can I Purchase Bitbons?

You can purchase Bitbons on the Bit Trade Exchange using Ethereum or Bitcoin cryptocurrencies as well as Visa/Mastercard payment card.

While writing this review, the price of 1 Bitbon was $6.31997.

Since October 10, 2018, you have the opportunity to sell Bitbons in addition to purchasing them.

Summary

The Bitbon System definitely deserves attention. It is clear that the developers have done their best to implement this project. It is no longer just an idea, some of the plans have already been realized. We will certainly follow the achievements of Simcord Company.


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