News Apr 20 ,2021

Q&A Session with Credits CEO, Igor Chugunov.


I am pleased to share another group of questions received from our community last week concerning the company’s product development, strategy, vision, and external activity. 

Q1. Question about Credits Stable Coin. Will we issue new coins? If so, how it’s going to work?
A: As some of you might have heard, together with several partners, we have fully worked out the legal and technical plan to release the stable tokens. This covers USD, EUR, and GBP stable tokens. The stable tokens’ project has been thoroughly worked out and is ready for implementation. We plan to issue the stable coins only after the launch of our priority area — Digital Wallet and crypto-fiat services.

Q2. Any estimation of when the Digital Bank will be launched?
A: As we have announced earlier, we have a slight delay with development and release in Q1. So a release of Digital Wallet is set to be in Q2. As the development goes forward, new features and functionality will be offered to users, thus providing a solid basis for Digital Wallet.

Q3. Besides Digital Bank and the speed test, what product are you planning to launch in the future?
A: I just want to point out that Credits Wallet itself includes a fair selection of products. Here we can highlight virtual cards, acquiring, bank accounts, etc. As I have also mentioned, we are about to launch Credits stablecoin in order to combine the advantages of traditional assets and the technical capabilities of our blockchain technology. For full details, see Credits Product Strategy 2021.

Q4. Are there any plans for Сredits to integrate 2FA for the Digital Bank in the future?
A: Today security methods based on two-factor authentication are trusted by a large number of companies and are considered invaluable by many users. Therefore, we are ready to implement 2FA and several other security solutions. However, at the moment, I cannot give a time frame for action on this matter as of yet.

Q5. Will Credits blockchain implement a cross-chain solution in the future?
A: To date, we are completely submerged in achieving our development priorities. 
However, we are prepared to do our best to assist third-party developers in this regard.

Q6: What we know is that Сredits is a blockchain project. But as a first-time visitor, what I see on the front page is all about payment and banking. Does Сredits want to be recognized as a blockchain or as a payment system? 
A: In our opinion, the development of the Credit Wallet is a key stage in the development of the credit ecosystem. As you know, we are planning to launch a number of products on the Credits blockchain (stablecoins, for example), and we plan to promote them through future wallet users.  We believe that the launch of the wallet and the democratization of access to the crypto will give a large influx of new users, which will greatly boost the Credits ecosystem. 
For more information on our product strategy, please, check out the following page.

Q7. How will the team raise more funds for the project? Is there any plan for this?
A: Yes, we have a fundraising plan that considers not only big picture goals but also all of the small phases that go into making that big goal a reality. It is most likely to be implemented through venture capital investments. At first, however, we need to concentrate on our main products. 

Thank you to everyone who is following us with much interest in the evolution of our company with optimism! It is always a great pleasure connecting with you to spread the word of Credits' mission, discuss the recent Credits plans and answer all of your great questions.

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