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Q&A Session with Credits CEO, Igor Chugunov.

Hello all. 

I have covered here questions received from our community last week on the company strategy, vision, and business development. 

Q: “Do you have a plan to develop the SDK to help partners and customers easily integrate with the Credits Blockchain?” 

A: Yes, we are working on simplifying access for developers. We do have technical documentation, REST API, and other instructions in place, please find them here.  We continue polishing these documents and adding new ones for external developers, helping them to connect with Credits blockchain easily. 

Q: “Credits can make own oracle in the future ?” 

A: Of course, Oracle system development would be a significant addition to the existing functionality of smart contracts. Credits can do this, yes, but the team has got a roadmap for this year already. So most probably this is a perspective for the next year.

Q: “what will be the most important thing in April Mainnet update?” 

A: Among the most important features in the April MainNet update are the functionality of quickstart for the node, additional options for restoring block generation, synchronization improvements.

Q: “Credits digital card, are you going to issue a physical card or virtual card or both, tell us your plan?”

A: We will first launch virtual cards. We will then evaluate the demand for physical cards and decide if we will be issuing them. The truth is that the world is moving away from plastic cards, so we have to collect feedback from the clients after we issue virtual ones, to see if there a need for physical products at all.

Q: “Credits digital card released by which partner?”

A: At the moment, we are not allowed to disclose the company name. We are now finishing the last audit checks and after this is done, we will produce a joint announcement. 

Q: “Will fiat banking be included in the Digi bank launch this month or will that be a later release? Additionally, will staking be included in the launch or later?”

A: I have divided different functionalities into three phases, as not all of them are coming out at once. Staking will be introduced in one of the further releases.

Upcoming release: processing of cryptocurrency purchase transactions using Visa / Mastercard debit cards. 

Next releases: the function of withdrawing funds to cards around the world, except for sanctioned countries and countries requiring local licenses for crypto business. 

Further release: option of opening accounts and debit cards in Euro and GBP for the UK and the European region.

Q: “Does Credits have EMI License for Digital Bank? Or it doesn't need it?”

A: Getting an EMI license is a timely process as it includes all sorts of checks by the Central Wallet (the operating model, AML framework, project’s software, etc). We are currently collecting business documents to apply for an EMI license and expect that the process of consideration and further checks by the Central Bank may last the rest of the year. 

To ensure the operation of fiat services meanwhile, we have entered into agreements with another EMI company registered in the UK and Europe. Credits will act as an agent of a payment institution with FCA in the UK and will receive EMD (E-Money Distributor) status in Europe, which will allow providing fiat services as a fully-fledged banking institution.

Q: “Are you currently verifying identity for app for U.S. customers?”

A: At present, we do not accept users from the USA. However, we are researching the best form of foundation allowing us to operate there. Once the requirements of each state are identified, we will initiate the company registration as an MSB and will gradually enter this market.

Q:“the speed test gonna be live?”

A: Yes, you can participate with a node, please find more details here, or you can just join to observe. 

Q: “team gonna pay for listing on exchanges or gonna be for free?”

A: There are different offers on the market, in some cases, it will be free of charge, and in some with a listing fee.

Q: “Are Danny Fitzpatrick and Mike Aldren still on the team? What is their role now?”

A: Danny Fitzpatrick and Mike Aldren are still part of the team. They continue advising and supporting us in the business development, with the main focus on the organizational and technical model questions.

I hope I have provided here full answers and thank you all for sending us questions!

Please remember we collect them in our social media and TG chats during the week, and answer them each Tuesday. Anything else you wanted to ask us, you are very welcome to do so on our channels!

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