News Sep 17 ,2021

Credits Weekly Digest


Welcome to Credits Weekly Digest!

Here you can find all our news and updates that have taken place over the past few days.

Q&A with Credits CEO, Igor Chugunov

Traditionally, we have answered your latest questions in our Tuesday Q&A session with Credits CEO. 

Blockchain 

Following successful tests performed in the previous weeks in Testnet for functionalities of the quick start node, multi-threaded transaction, verification, we are now adding these updates to the Mainnet code and testing them. The announcement will follow as soon as we merge these enhancements to the Mainnet and test, then they will become available to the users. 

This week we also finished editing code for block recording. It will now be tested on the Testnet and added to the Mainnet when testing results are satisfying.  

Credits wallet

The development team continues working on the wallet, adding new features and testing them. 

In this Digest, we wanted to highlight more news on the operational side of the wallet, which the Partnership team covers.

Creating a fully functional wallet requires finding the best financial and legal partners for its operation. These partnerships allow us to build the framework corresponding to the regulatory, IT security, compliance, and other requirements of different regions.

Among the related wallet services, Credits will issue its card. Card programs and financial services are highly regulated. By now, the Credits team has already accomplished a significant part of the necessary settlement to launch these FinTech products! 

Namely: we selected and negotiated terms and conditions with the best suitable E-money Institutions (EMI); they will act as intermediary layers between Credits and authorities. 

The latest news is that Credits passed compliance approval from our EMI partner in the UK and Republic of Ireland. Currently, this partner has submitted Credits application for financial operational functionalities to FCA and CBI (Central Bank of Ireland). The general consideration time of such applications is from six to eight weeks.

We are looking forward to getting this long-expected status of E-Money Distributor (EMD), which will allow us to add payment cards and bank accounts for UK, Irish, and EU users. 

In parallel, the team continues working with partners who will provide us similar services in other regions, including India, Singapore, Australia, and more. 

Credits Developers’ Library 

An initiative group of Centr Blockchain Software created a Developers Library for all current and potential Credits Blockchain users. This library is a structural collection of comprehensively written guidelines and code examples, helping you work with the Credits protocol quickly and efficiently. 

All users are always welcomed to reach us out on our social media and in TG chats. 

Thank you all for your continuous support and feedback! Stay updated with the latest in Credits!

Please keep in mind that dates may change slightly due to a large amount of work and circumstances that may occur during testing. However, the Credits team will do its best to meet the required timelines!

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