IT is confidently turning from a young area of the industry into a mature segment of economy, while the profit from progressive developments is increasing annually.
In particular, two years ago, IT services occupied the third place in Ukraine’s export, but last year they already moved to the second and represent a fifth of Ukraine’s export production volume. Local abilities of the country are pretty significant: Kharkiv and Lviv are leading among regional IT clusters, while Kyiv, Dnipro and Odesa are slowly strengthening their positions. We can state that Simcord, which is located in Kharkiv, is one of the activists in the field.
Simcord is mainly engaged in implementing hi-tech solutions for businesses and integrating blockchain technologies. However, these areas not only don’t restrict the scope of the company’s activity, but also give the opportunity to simultaneously work in other areas. In particular, the company develops software and progressive products: blockchain protocols and consensus algorithms; analytical platforms for processing high data volumes; hardware and software complexes for trading on the global financial market; websites, mobile apps on iOS and Android platforms.
Innovative models of servicing progressive business strategies stand out among the services provided by Simcord. First and foremost, they include: advice in the field of digital technologies on international financial markets; development of application programming interfaces; legal advice and supervision; organization of information security, etc.
Since the beginning of 2019, Simcord announced the start of works on integrating the term “digital asset” into the international legal field. In the article “Substantiation of the Term “Digital Asset”: Economic and Legal Aspects”, Simcord CEO Alexander Kud explains that digital asset is a certain value represented in digital form. It covers economic, legal, value and information components of a digital asset. The author notes that the emergence of blockchain and cryptocurrencies, which became phenomena in the economic field themselves, gives practical significance to the term “digital asset”.
Aside from forming a clear definition of the term, Simcord, in association with the National Academy of Legal Sciences of Ukraine, initiated the introduction of this term into the legal framework. Thus, they developed the document (de facto a test) for determining whether a blockchain token corresponds to a digital asset. Using this test, one can determine if any token is a digital asset based on its properties and correspondence to the criteria.
In September 2019, representatives of Simcord took part in the III International Legal Forum held at the Yaroslav Mudryi National Law University, where they became the first IT company to participate in such event. For Simcord, the forum was yet another opportunity to demonstrate the entire potential of the Bitbon system in developing an information economy supported by the blockchain technology.
Representatives of Simcord gave several presentations, participated in the roundtable and panel discussion, where they comprehensively explained the essence and opportunities of Bitbon for the formation of the market of information resources and services. They discussed the nature of digital assets and defined the prospects of integrating them under new conditions. For representatives of economy, business and law, Simcord CEO Alexander Kud held a briefing on the relevant issues and presented the monograph “Digital Assets and Their Legal Regulation in the Light of the Blockchain Technology Development”.
Simcord is the company that lives in the future and creates it today. This slogan allows constantly moving forward and actively building future plans. Now, representatives of Simcord are preparing to take part in the roundtable of the Research Center of Legal Solutions in the Area of Application of Distributed Ledger Technologies on “Standards of Blockchain Tools”. Occasionally Simcord conducts briefings on the matters of digital and information economies, legislative process of regulating blockchain and development of the Bitbon system in the legal field.
Having analyzed the activity of Simcord, you can come to the conclusion that the company is consistently moving towards realizing its main idea, while at the same time striving towards the digitalization of economy along with Ukraine. The company successfully implements its ideas and is moving forward together with the global progress.