BITBON and Projects Capable of Becoming the New Bitcoin
Projects Capable of Becoming the New Bitcoin
Innovative technologies have always faced misunderstanding and, therefore, resistance from society.
This happened to gold at the time when people simply traded the needed goods or services to mutual benefit. Then there were promissory notes that could be exchanged for a certain equivalent of gold in a bank.
The same thing occurred with payment cards, which society totally rejected, thinking that hard-earned money could permanently disappear from some kind of imaginary electronic account. And now there are ATMs on every corner, payment cards can be used in any supermarket and then, out of the blue, the first electronic payment systems, PayPal and WebMoney, appeared. What do you think, how were they received when they were first introduced?
The list goes on, but the fact remains — the new often scares us and makes us treat it with caution.
There was very little known about Bitcoin in 2009: some new kind of electronic money that can be used only within a special network, and the database is distributed among all of its participants and has no centralized server. And by the way, this money can also be obtained or “mined” using your own computer. The cost of one Bitcoin was less than a dollar at that time.
In the distant 2009, it was hard for a person to understand what Blockchain was without special technical education and additional literature. Now around 80% of the interviewed respondents between the ages of 17 and 50 know about Bitcoin, and its cost at the moment of writing this review is $4,259.
What if you were to buy 20 dollars’ worth of Bitcoin nine years ago and forget about them until December 2017, when the peak of its cost was registered at $20,000, wouldn’t that be nice? But there are no what-ifs in history.
Today, Bitcoin is not presented in the best light in the media, and it can easily be explained. It is obvious that, from the technological point of view, the universality of Blockchain allows much more than simply creating crypto currencies. The news of integrating Blockchain into different fields comes out more and more frequently. Crypto industry, in turn, is not falling behind, which was proven in 2018 by the emergence of serious competitors to Bitcoin in the form of multi-functional Blockchain platforms, whose possibilities greatly exceed those of traditional crypto currencies.
TON, Bitbon System, EOS, IBM Blockchain and Cardano — each of these projects can theoretically replace Bitcoin due to their versatility and future social demand. But what is a “multi-functional Blockchain platform”? We will tell you about it using the Bitbon System as an example.
The Bitbon System is a Ukrainian Blockchain project. It is based on a modified Ethereum Blockchain with the support of smart contracts, which can be used to conduct deals of any difficulty. The developers of the platform describe it as a business platform for the implementation of promising startups, development of already existing businesses, investment in promising projects and safe transfer of property rights to real assets.
Infrastructure and algorithms laid down in the Bitbon System envision its constant development with further integration of intellectual products of Simcord company. This allows us to call the Bitbon System a universal Blockchain platform.
It is also important to note that the payment unit within the System is Bitbon — a financial instrument with all the properties of crypto currencies. However, its pricing depends not only on demand, but also on the share of real assets of certain System users, which makes Bitbon independent from the Bitcoin price fluctuations.
At the moment, the crypto community is only getting to know the Bitbon System, however, the project is in the state of constant improvement and has already attracted attention of the business-oriented audience. This year, the project is considered to be promising, but what awaits the Bitbon System in 2019?
Technical experts in the field of digital economy predict that the crypto industry trends will be set by such multi-functional Blockchain platforms as the Bitbon System, whose functionality was developed based on the detailed analysis of needs of a modern person. And who knows, maybe now we have a chance to purchase “Bitcoin 2.0” for just a few dollars.
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