Credits Platform to be Applied in All Areas of Economy

Let's figure out where the new blockchain platform CREDITS can be applied 
24 January 2018   3485

CREDITS is an open blockchain platform with standalone smart contracts and an internal cryptocurrency. Due to its technical characteristics, CREDITS provides more than 1 million transactions per second with minimum fees up to 0.001 $. The platform provides an opportunity to create your own decentralized applications using smart contracts and an open data registry.

Credits Platform
Credits Platform

CREDITD Platform is being developed activelly. And MVP is already available!

Credits MVP
Credits MVP

The CREDITS blockchain platform can be applied in all areas of the economy, where high level of data security, fast data processing and automation of business processes are required.

Let's figure out, where CREDITS Blockchain Platform can be used. 

Financial institutions and payment services

  • Banks:
    • Savings means reducing the cost of financial reports and reconciling various data on mutual settlements and clearing through the simultaneous access of all stakeholders to databases.
    • Security - the servers of large companies are much more vulnerable than the blockchain system, which requires huge material and technical costs from intruders.
    • Data integrity - information from a blockchain cannot be deleted or changed.
    • Political security - a blockchain cannot be turned off by any government.
    • Cross-border payments without SWIFT are faster and cheaper
  • Insurance companies:
    • Security - contracts can be concluded online and immediately sent to storage in a locker where they can no longer be falsified.
    • Savings - reducing the cost of reconciling data.
    • Smart contracts - the occurrence of insurance events can be programmed and recorded in the blockchain.
  • Payment services:
    • Savings - the absence of intermediaries. Reducing the costs of payments, the minimum commissions.
    • Security - the storage of data on payments in the blockchain ensures complete safety and unchanged information.
  • Exchanges:
    • Security - the use of encryption algorithms protects data against tampering.
    • Smart contracts created on the base of exchange instruments: options, futures and bonds.

Internet of things

Internet of things is a collection of devices that interact with the user and with each other.
The blockchain is needed to ensure the security and safety of the transmitted data between the devices. Based on smart contracts, you can preset conditions and scenarios of behavior, automate many routine processes.

  • Smart house
    • Safety - protection against breaking in, automatic fire extinguishing system, water supply blockage, if leakage occurs.
    • Energy efficiency - management of heating, air conditioning, electricity and water consumption.
    • Pleasant trifles - automatic opening of blinds and curtains, lighting control, TV, Wi-fi.
  • Smart car
    • Unmanned vehicles, the distribution of which is inevitable, with the help of the blockchian, we could share information about situations on the roads and various telemetric data, including the number of passengers and energy efficiency.
  • Medicine
    • All sorts of wearable electronics - fitness trackers, smart watches. They can monitor your health records and send data to your health care provider. Reminder to taking pills, warning of increased blood pressure and other problems.

Business

  • Security - Smart contracts provide secure registration of any type of asset management and transfer transactions.
  • Automation of production - Smart contracts solve many tasks in the field of logistics and supply.
  • Reduction of costs - any amount of payments with minimal commissions. Security of international payments
  • Automation of routine processes for reconciling data and updating information with counterparties and various structural divisions.
  • Creation of your own decentralized applications that fully meet the needs of a particular business.
  • Logistics - the ability to track the entire supply chain of any product from the manufacturer to the end user. Starting from auto parts and components, ending with ingots of precious metals and stones.
  • Intellectual property - the creation of digital assets with an indication of the author and ownership. Transfer of ownership.
  • Secure access to data - the identification and verification of users who have the right to access information and make changes

E-government

  • Electronic voting - the organization of voting by the means of digital tokens, the account of which is carried out in the blockchain. The blockchain can be used to increase the transparency and reliability of the results of voting or elections.
  • Government procurements - the blockchain will ensure the transparency of the procedure itself and the ability to trace the entire supply chain and the contracts with contractors and executors of government contracts.
  • Electronic document management - the provision and accounting of issued certificates, certificates, licenses.

Learn more and stay tuned! 

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3 ICOs of Extrabit banned by Alabama Securities Watchdog

Alabama Securities Commission (ASC) has ordered alleged cryptocurrency mining firm Extrabit to stop its token sale offering in the state
25 May 2018   57

The U.S. state's securities regulator, the Alabama Securities Commission (ASC), has supported its colleagues in Texas and New Jersey in hitting out at ICOs that are soliciting local citizens. The cease-and-desist order which was published yesterday  claimed that the agency has ordered purported cryptocurrency mining firm Extrabit to cease its token sale offering in the state.

The ASC declared the company has been illegally begging Alabama investors with what it considers an unregistered securities offering after it announced its token sale on the website of WSFA, an NBC-affiliated TV station recognized in the state capital, Montgomery. While presently the online advertisement appears to have been taken down, the agency said in the order that the firm originally claimed that investors in the pre-ICO phase could buy Extrabit's token "EXB" at half price.

The advertisement claimed that in order to take part in the pre-sale, the user should invest $20,000 and after the purchase, the tokens will be sent to MyEtherWallet within 48 hours. Then, Extrabit's white paper states that, since the firm generates its profits chiefly from mining bitcoin, zcash and monero, it pledges a 185 percent return on investment every quarter for investors who maintain a positive balance in their EXB wallet.

As well as offering unbooked securities, the ASC said the project made "materially misleading" suggestions to deceive investors. Extrabit is not the only token project that is targeting residents in Alabama. A Google search for "token sale" on the WSFA website currently comes up with over 200 press release-style ads from various ICO projects. 

The ASC has also checked two other token sale projects, called LEV and Platinum, with cease-and-desist orders entered on May 2 and May 18. Like with Extrabit, the agency charged the two projects of selling unregistered securities in Alabama while making vaporous promises to potential investors over the likely returns on investment.