Updates are comming...
--== Creditbit status update ==---
We have been busy at work with CreditDAO and its financial part, we are currently testing the whole system and if everything will be ok, we will launch it in next week.
With that we would like to urge every one in the community to think about the commitment that they want to show to the project and think about candidature when CreditDAO will be released and elections will start.
With the launch of CreditDAO we will allso launch CreditID which will help users to see who exactly is running in CreditElections.
Allso the CreditGAME subpage has been added ->
CreditGameWe have also started working on CreditDAPP which will encopass all the functionalities of the Credit ecosystem in one aplication(Games, voting, identity, wallet,...), pelase tell us what you think about first screen:
--== Development update ==---
Like we stated we are getting ready for the deployment of CreditDAO smart contracts in this phase we would like to explain the core concepts of the CreditDAO:
CreditDAO Executive Board As already stated in our White Paper, DAO Fund will be managed solely from CreditDAO Trust Levels. Five members of Executive Board will each have their function and responsibility to run a subfund, that will be delegated to him along with goals to achieve.
There is a description of all 5 Executive Board functions and subfonds:
CEO - first member of the Executive Board will be a leading member, mostly spending his time to present CreditBit to general public. He/she will have the obligation to attend meetings, speak up in the name of the CreditBit Community and DAO, share new ideas and push forward the most difficult tasks. He/she will be appointed a subfund to finance his/hers actions and costs of travel.
CDO - responsible for development, he/she will be responsible for delivering dapps, designs, web pages and mobile applications. Mostly responsible for creating and defining new development tasks, coordinating and rewarding community development individuals and teams. Community Development Fund will be under his/hers discretion.
CPO - he/she will be responsible for promotional tasks on all levels, including social networks, promotional campaigns, promo material, communicating channels, web campaigns etc. Very active and dynamical role, concentrated mostly on day-to-day tasks but very open for creative approaches and new ideas. A Promotional fund will be dedicated for supporting these activities.
CMO - marketing activities include looking for big investors and business partners, including online service providers, merchandisers, exchanges etc. Marketing Fund will be appointed to him/her to manage, mostly to cover marketing costs.
CGO - we see games as a very important part of CreditBit, this is why we are including a member, solely responsible for development and implementation of games. Managing a development of new games and introducing usage of CreditBit to other games will be his/hers main priority. Finances for the integrating of CreditBit into games mechanisms will be available in a Game sub fund under his/hers discretion.
FundsCRB Tokens in the DAO Fund will be permanently locked. Only CreditBOND (staking) rewards will be used to fill all 5 sub funds, each under sole management of one Executive Board member. The percentage of rewards that fills each of sub funds is agreed with a proposal, proposed by CEO and confirmed from votes of Elected Commons. A proposal must collect 15 positive votes from elected Commons to execute. New elections can be triggered from each Elected Commons address, regardless of the time lapsed from last successful voting. This is how Elected Commons execute their will about the distribution of the DAO finances.
Elections to Elected Commons Shortly after a deployment of CreditDAO Smart Contract, elections will be triggered. Voting can be executed through Smart Contract, but more convenient way is to vote through dapp, that we are preparing.
First Trust Level to be elected by all CRB holders are 30 members of Elected Commons. Each address have the right to vote and to be elected, but we will promote those addresses, whose respected owners will show clear vision about CreditBit future and their involvement in a project. We will open a special topic on the forum, where addresses will be able to present their vision. Owners of the addresses do not have the obligation to identify themselves. After that, an election curator will place this address on a candidate list.
To cast the vote you will have to lock CRB tokens, at least till the election event. Your vote will be pondered with the number of locked tokens at the time of elections. Donated CRB tokens are double pondered, giving greater power to donating addresses.
First 30 addresses with highest number of weighted votes will be elected. In case of equal numbers of votes, the position will be granted to an address that candidates first. Mandates last for 6 months, after that new elections will be triggered. Motion of no confidence will not be available in a first version of DAO.
Elections to Executive BoardOnly Elected Commons have the right to vote all five members of the Executive Board. Everyone have the right to candidate with public disclosure of their identity and with presenting a detailed plan of work and vision on the forum. A single person can candidate for only one Executive Board place with his address.
All votes from Elected Commons are equal, a place in Executive Board will be granted to an address with the majority of votes. In case of equal number of votes the position will be granted to an address that candidates first.
--== Community update ==---
There has been a lot of development in the community, we hope to see it even more when CreditDAO will be launched and all the active members will be able to claim their rightfull place as an CreditDAO member.
We are planning to make an online public meetup, where our development team is going to present our ideas and views on the future of CreditBit. Everyone will be invited to comment, post a question or (constructively) criticize. Goal is to get feedback, get a sense of public opinion on some development and promotional ideas, collect suggestions and push CreditBit to a new level. Also a development timeline and milestones will be discussed.
We are planning to organize this event on the end of May, it will last for 4h, during this time all members of Dev Team would be available for comments and answers.
--== Markets/Media update ==---
The price has gradually stabilized and the volume on the exchanges is getting bigger every day.
There has been a lot of positive media coverage about the project just to show you some of the articles:
https://cointelegraph.com/news/democracy-on-blockchain-how-creditbit-engages-community-to-co-createhttps://vid.me/Lq5ohttp://www.newsbtc.com/2017/05/19/creditbit-price-technical-analysis-crbitbtc-started-consolidating/http://www.newsbtc.com/2017/05/18/creditbits-finalized-white-paper-unveiled/http://newsbitcoin.info/creditbit-price-technical-analysis-crbitbtc-double-tophttp://fintechist.com/finalized-creditbit-white-paper-released/http://www.livebitcoinnews.com/creditbit-updates-website-creditgame-information/http://fintechist.com/never-overlook-creditbits-crb-token-investing-digital-assets/www.newsbtc.com/2017/05/12/creditbit-community-expands-price-hike-speculations-rife/Hope to hear from you on the meetup,
yours CreditDev team
