Topic: [ANN] CREDITS - New Blockchain for financial industry [OFFICIAL THREAD] - page 3. (Read 40273 times)

Smart Contract on Credits’ Manual

Credits, 21/09/2020

Smart contracts are written in the computer code and stored in the blockchain. They get automatically executed when predetermined conditions are met. Some networks, like Credits, support smart contracts, while others don't.

What is remarkable about the smart contract on the blockchain is that it cannot be arbitrarily changed. It is also impossible to set back the execution of a smart contract since this would require interfering with the operation of the entire network.

Traditional paper contracts need a third party as a guarantee of credibility.

A smart contract does not require this layer. Blockchain technology simplifies processes by establishing credible transactions on a decentralized basis, removing the intermediaries.

Contracts on blockchain technology are faster, cheaper, and more secure in comparison with traditional systems.

Smart contracts can be applied for any sorts of situations ranging from rent agreement to financial derivatives and insurance premiums. More and more corporate and governmental organizations are implementing smart contracts into their operational procedures now.

You can build your own smart contract on Credits’ protocol, that is easy with the step-by-step guidelines we’ve created for you.

Credits’ Weekly Digest

Credits, 18.09.2020



The other week at Credits is almost over. And here is the latest from us.

Credits’ CEO, Igor Chugunov, answered some of the main questions we have received from our community during the last week, check it out here

We appreciate your engagement in this discussion! Please contribute with your questions via our FB, Insta, TG, and Twitter channels, we collect them on a weekly basis and answer each Tuesday!

A small but nice change in our monitor: the latest update allows you now to see all trusted nodes of all the rounds.

Publication on  Credits’ wallet provides a full review of the product including a detailed explanation of the security layers of the wallet, your data protection, current characteristics, and future vision.

We have composed the poll to ask your opinion on the features you would like to be installed into our wallet next, please answer us here  https://t.me/CREDITSoffical or https://twitter.com/creditscom/status/1306250731024941057

Credits’ CEO, Igor Chugunov shared some of his views towards the need for further legal framework improvements in the crypto industry, and the difficulties we face as a company and community without regulatory guidelines in place.

Lastly: rumor has it that Credits will be launching a new airdrop competition very soon! Stay with us!

CS is not a utility token but a native coin. Comparible to BTC and ETH, etc.

So the CS tokens have no utility?

Product overview: Credits' wallet

15/09/2020

We, at CREDITS’ Blockchain team, are developing edgy technological products in response to what the market needs.

Credits’ wallet is made for all of us, who live in a mobile, fast-moving global world and use crypto assets at least once a month. Crypto wallets that support mobile financial systems are becoming an essential instrument.

We are presenting this wallet to the audience keeping up with the new technologies, who are pioneering the fintech industry and its products, who follow the innovative crypto solutions. As of today CREDITS’ Wallet is available for EU citizens, and we are planning to gradually expand its presence around the world except for the countries from the OFAC and FATF lists.

IBM is not yet using the Credits platform.

CS coins are used in node staking and transaction fees to keep the network running.

Is IBM using the Credits Platform now?

Also, what are CS coins used for?

Thanks

The node: what it is for, why to create it, and how to create it on CREDITS’ protocol?

Credits, 14/09/2020

Decentralized systems like blockchains depend on nodes to be run by the network participants. Nodes administer access to the network and secure its existence by maintaining copies of the database and verifying data (transactions and blocks) on it according to a set of rules.

Incentives to run a node differ on every blockchain protocol. What are the critical reasons for anyone to run a node?

After mainet, will platform credits bring credits to a greater extent and return the price to what it was before? I've tried the Tesnet version and the transfer speed is good,if only CREDIT had followed the defi trend it would have been much more promising

Understanding KYC and AML in CREDITS products



Credits 11/09/2020

KYC (Know Your Customer) refers to a process used by financial institutions to gather and identify data and contact information from current and potential customers. KYC is required by law to prevent fraud, money laundering and misuse of financial accounts.

In the crypto world, it still is possible at times to create an account before conducting KYC. However, such accounts have limited functionalities.

CREDITS is EU licensed by the government of Estonia for providing crypto wallets and exchange services. In accordance to Estonian anti-money laundering laws we follow the mandatory KYC procedures.

What we do within the AML (Anti-Money Laundering).

KYC
Identifying and confirming demographic data of potential users, clients and customers.

AML
Continuous monitoring of transactions to ensure compliance, identifying suspicious activity and managing risk and user verification in accordance to the required lists.

Within our products and services, we provide the opportunity to work with fiat to convert digital assets like cryptocurrencies. This functionality is one of the highest in demand within the cryptomarkets right now. Being a provider of this service we have to follow AML and KYC regulations.

KYC on CREDITS’ products is performed by Sum & Sub (https://sumsub.com/), who are the market leader in KYC checks/procedures. Sum & Sub helps us to deal with suspicious users and ambiguous cases. We can see more metadata and other unusual signals which helps us to keep all transactions safe and react immediately when required.

Sum & Sub transfers the data in accordance with data protection and other laws within the EU where all the data is transmitted over encrypted channels and checked by certified specialists. (We advise you to visit their site in case you need more details)

To be fully transparent we, the CREDITS’ team, share this with you to explain why we need KYC built in into our wallets. Also to let you know which entity executes our KYC procedure, so you have a full understanding of the quality of the data collection, its transfer, and the safety of your personal details.

Compliance is a time-consuming procedure but should always be in place to ensure high-level risk management and security for the products you use. CREDITS’ team is doing their best to provide a safe yet comprehensive set of tools for our investors and future users.

CREDITS Weekly Digest



Credits, 11/09/2020

This week went as fast as usual for the CREDITS’ team, and here are some highlights!

We watch our community on TG and try to follow up on your questions immediately, however, when a more detailed reply from us is needed, we provide it within Tuesday's publication: Message from CEO. We encourage our community to ask us anything.

This week we had 2 interesting articles. One is to expand on how Credits Protocol works, and the other is on KYC practice. Please find them both in the News section if you have missed out.

The latest update on Node Reward Program was out on Sept 9th and is also available in the News section.

We have finished Credits Community Airdrop, which we run from 2nd to 9th of September, and where we accepted over 5k applications, yesterday we have randomly chosen 20 winners who were in full compliance with the rules and rewarded each of them with CS coins in the equivalent of 50 USD.

Our Team continues to work hard on Blockchain protocol development as well as CS wallet improvement. Some press releases for our products’ updates are to come out in the next few weeks.

Install our CS Wallet! Android/IOS

Credits Wallet provides highly efficient service for cryptocurrency operations
You can buy, sell, and send Crypto assets with amazing speed and super low commission.    

Credits Blockchain: why are we the fastest?

Credits, 10/09/2020

[...] That is why we say that the Credits blockchain is the fastest decentralized blockchain in the world based on BFT principles. It is impossible to process a transaction faster within a decentralized BFT network from a physics point of view.

Read the full article:

This is nice.

Evgeniy Butyaev is back with Credits!

people are not feeling satisfying with the development result that has already made by the team. So many people were also accusing the testing of TPS on the credit blockchain was not reliable.

That makes a lot of people were moving to another new project as people have been feeling skeptical about credit. the come of new projects has been making the difficult situation for the credit blockchain too.

So many events have already made by it didn't give a positive impact on the price. It's very similar to CHSB

Credits seems VERY undervalued. This is what I'm always looking for.

Partnerships IBM, Oracle, etc......6m Marketcap

Ok so what's the deal with this. Can someone tell me why so extremely low?

What am I missing here?

Hello, I hope this news can help you understand more about the collaboration between Credits and Chainlink. If you have any further questions, please join Credits Telegram Group here.

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Earlier this year, the regulators of Estonia audited all of their registered companies with a crypto license in line with the latest amendments of the law Combating Money Laundering and Financing Terrorism.

The result of this audit was that over five hundred crypto companies in Estonia lost their license as they did not comply with the regulatory requirements.

But we did!

We are very happy that Credits met all the new requirements of the Estonian regulator and received our renewed European Cryptocurrency License.

Please read more here

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It introduces a number of important features, and the most exciting is the application support for Ethereum (ETH). Credits Team developers have done an amazing job to ensure the stability and security of the wallet ecosystem. Now with the latest update, you can deposit and withdraw ETH using CREDITS wallet!

Furthermore, we are not stopping here by adding ETH only and continue working on implementing more coins options to our wallet. We will keep you posted on the next ERC20 token inclusions!

Another feature of the latest update is about increased functionality of the window allowing you to attach documents for KYC. We have improved its usability by adding the option to make several camera shots of documents at once. We also have changed the design of the window which allows the mobile camera to capture images.

The third feature is that now you can choose and add to the home screen your favorite tokens (available only for those issued on CREDITS blockchain).

Please read more here

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To read other news about Credits, please refer to this link

Do You have interest in listing CS at the BitFex stock exchange without KYC?

Can credits be used with chainlink?

Credits is happy to announce a partnership agreement with Axcess, a British bespoke payment solution provider

The Axcess team works with a wide range of banking partners and has gained an enviable reputation for providing reliable and effective payment solutions. Axcess works with each merchant to find out what they require and then find the right banking partner for them, from around 390 connected banks. Axcess will support Credits with the possibility of accepting Visa / Mastercard bank cards within the Mobile Wallet app, provide acquiring and gateway services, and fraud prevention tools to minimize security risks and ensure the safety of our business.

Axcess provides the ability to have multiple banks connected on the same gateway if required to ensure that changes in bank appetite or mitigation of risk can be more actively managed by the merchant. This partnership opens doors for the implementation of CS coin and blockchain technology in a variety of services. There are great opportunities for the adoption of related products, such as Credits wallet and stablecoins.

Please read more here

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Credits team would like to share great news for all our community! From now on, we are entering a clear path towards the European market. To achieve this, we have taken several important steps, including obtaining a compulsory crypto license!

Today, the payments sector is obsessed with technology and globalization. The development of innovative ideas and the provision of appropriate conditions allows the company to reach a new level of a more global network. Our task is to effectively carry out ubiquitous and efficient transactions between users, gradually expanding our user base.

With the introduction of an increasing number of our partners, among which there are companies-acquirers, we have increased the opportunities for our users. The essential step in the development of our technology becomes obtaining a crypto license for Credits business niches. In response to this event, we would like to identify some new advantages for our crypto activities:

- Legislation of virtual value;
- CS currency is tax-free;
- The official license for a versatile exchange of virtual currency and fiat currencies;
- Official crypto-wallet license.

Please read more here

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We are happy to inform you that our company meets all the necessary membership criteria of Level39 in London, home to the most ambitious entrepreneurs tackling the great challenges of our time!

Credits has successfully embarked on this process. We have received our membership card!

Level39 is the world's most connected tech community, consisting of 1250 leaders in cybersecurity, fintech, and retail tech. The main concept of it is to provide additional productivity to financial services, while at the same time ensuring the security of the economy from possible cyber threats. Companies come together to create a greater inclusion opportunity by competing, sharpening ideas, driving each other’s performance forward.

Among the other active members of the community in the field of blockchain and cryptocurrency are:

- Cex.io
- Etoro
- Nexo
- Revolut

Please read more here

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On the 18th of June, Arjan Eikelenboom represented the Credits team on the SatoshiClub telegram channel. The "Ask Me Anything" session consisted of 3 parts. The members of SatoshiClub's community were highly involved in the discussion of Credits technology and asked a lot of interesting questions.

Please read more here

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Credits team is excited to announce a promising long term alliance with UK based PurePay.

PurePay offers affordable credit/debit card processing solutions. Their line of product mix includes; e-commerce functionality; mail/telephone commerce; high volume online credit/debit card processing and retail commerce; a perfect match with Credits.

PurePay provides a comprehensive list of services, including:

- Credit Card processing
- Payment Gateway
- Corporate Structuring
- Anti-fraud Tools

The core of the services that PurePay offers are Payment Gateway Partners with low cost, flexible and secure card processing. It is a PCI DSS compliant platform, which will connect Credits to the payment providers and acquirers in the EU/US and Asia. It will also enable Credits to settle payments in any currency from customers across the globe.

Please read more here

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Credits team is glad to announce a new advisor - Mike Aldren

Mike is a specialist in Payment Services and Business Process Outsourcing with broad leadership experience and strong commercial acumen. Expertise encompasses the complete lifecycle from sales and program inception, through delivery, to production support with particular emphasis on tailoring solutions and building business cases. Since 1986, Mike has worked in financial services for companies including EDS, Fiserv (Senior Vice President), Unisys (Client Relationship Director) and PCT (Chief Operating Officer) covering Investment Banking, Core Banking Systems, Cheque Processing and, since 2008, Card Payments.

Comfortable operating at board level Mike has worked in many countries from North America, through Europe, to Hong Kong, Iraq and South Africa.

Please read more here

Partnership With Axcess
https://coindar.org/en/event/credits-cs-partnership-with-axcess-28869