Hi CreditBit Community,
recently some misunderstandings appeared, so we would like to explain some names, organization, groups and relations. We would like to stress, that not only coins/tokens are decentralized, but also the organization structure and process of making decisions. Below we are sharing some blockchain-based idea of democracy, but despite these new mechanisms for reaching an agreement, we still strongly believe, that trust is still one of most important assets of crypto community.
We would like to thank you for all suggestions, we tried to implement some of your ideas in our vision and concepts.
CreditBit is the name of the open software project and also a name of the current crypto currency. The logo of CreditBit changed recently, together with introducing the second roadmap.
As you probably noticed, a development team of CreditBit changed completely quite recently, but strategic goals and purpose of the project and the community remains the same.
CRBIT is the abbreviation for current CreditBit crypto currency, at the moment it is still a “classic” crypto coin from Bitcoin family, based on Blockchain technology. Soon, all coins will be “migrated”, and the name will most probably change to distinguish between original and the successor, Ethereum CRBIT token.
Migration is actually a process of exchange or replacement. It is common, but not obligatory, that exchange rate is 1:1. So if we decide for that rate, for each coin (CRBIT), that its owner deposit and lock on the migration website, new token(s) will be issued and made available to coin depositor.
Credit 2.0 (also “credit2”) is the name of second roadmap of development, which consists of several subsidiary projects, from migration of CreditBit coin (CRBIT) to Ethereum token, writing several Smart Contracts, establishing new web site(s) and developing new apps etc. All subprojects will be announced and will have names, starting with Credit- (ex. CreditGAME).
CreditBit DAO will be a decentralized organization, that we plan to establish after migration (8th March), to enable community voting and raising funds for development and promotional purposes. CreditDAO is a subproject of Credit 2.0 that aims to provide development and sources to establish this organization. ATM, we are tweaking the details of this mechanism and organization structure. But the core idea is to give a community a decentralized power to decide about all important issues in fair and safe manner.
Development Team (Dev Team) is a group of developers, designers and PR persons, working closely together on Credit 2.0 projects. Team is having regular meetings and post announcements about development and strategic topics. Members are not disclosed to public to protect their privacy. Original development team that started CreditBit in 2015 and made a fantastic journey from implementing some innovative consensus mechanisms to altering blockchain configurations (block time). At this occasion, our development team would like to express our gratitude toward their efforts and achievements.
New development team started on this project in first days of 2017.
Development Support Team (Dev Spt Team) is a group of individuals that offered their voluntary help to Dev Team in the fields of developing, design, promo material creating and others. After establishing, the CreditBit DAO will reward these individuals (in CRBITs) after successful delivery. It is not our intent to fully compensate the costs of their work, but to show some gratitude.
We plan to put these independent tasks on our website, where members of Dev Spt Team will be able to stand for each task. A member of Dev Team will moderate this process with accepting developers with best solution proposals.
Promotional Team (Promo Team) is a group of promoters, who promote usage and look for new possibilities, use cases, valuable integrations etc. We would like to accept journalists, crypto enthusiasts, investors, analytics and evangelists that show interest towards our projects, coin/token and community.
CreditBit DAO will probably also offer some rewards for most creative, innovative and content rich ideas and individuals.
Keep track...you will hear from us soon...
Thanks for great update.
Love every tuesday and thursday.
cant wait to see what will happened! Great job guys! C'moon! Too the mooon! 
