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CreditBit: An Asian Style Crypto-Recipe

No day goes by, or we read about the huge influence and importance of the Asian markets for the crypto currency economy. And it is true; Asians are champions in digital cash and quick to understand its disruptive potential and amazing features. We see this in the news too. Regardless if it concerns regular messages about new Asian blockchain consortiums or the amazing mining efforts by Chinese ‘cheap-energy-2-coin- conversion-farms’ and their choices for or against a certain scaling upgrade : it’s a fact, that digital currencies are very popular in South Asia. Since April 2017 the Japanese can even use Bitcoin as a legal method of payment and set the trend for many other countries to follow.

Yet, it is not just in China and Japan, where the interest in digital currencies is growing rapidly, but also in India and South Korea. Only look at the top 10 of the Ethereum market places on the CoinMarketCap list, where we frequently see the South Korean Won (KRW) rise up first before we can spot any ETH-pairs with Euro (EUR) or Chinese Yuan (CNY). Koreans are into crypto, and not for nothing is the Korean Central bank one of the most outspoken when it comes to blockchain technology.

For CreditBIT (CRB), an aspiring and innovative Ethereum-chain based token, this is all very positive, as CreditBIT offers advanced smart contract options that go together well with the Asian life-style. For example, CRB payment transactions are cheaper and faster compared to getting a cup of delicious instant noodles on the table (take your pick if you like them with kimchi or with dashi). Moreover, with its CreditDAO platform, its Proof-of Trust CreditBOND locking with up to 12% annual bond reward and the upcoming JAXX wallet adoption , CRB offers all the ingredients to be an easy, affordable and gratifying alt-coin for the South Asian market. But there is way more to gain and it’s fun!

With CreditGAME players can anonymously compete in 1-to-1 games for their CreditBOND reward. Both players lock an equal amount of CRB-tokens for a certain time period and enter the game. After the locking period, both get their own CRB-token back, but the winner collects both rewards. Initially, two games will be available for P2P games, first Lotto and Minesweeper, but Jenga is already on the way and many more games will be added in the near future.

And last, but not least, the two main players that offer alternatives for the Ethereum blockchain BTC and RIPPLE - have difficulties that many new investors may not be aware of, but behind rising prices, are also questions. Bitcoin network congestions have almost become a weekly trend and today the actual money transfer time is so long, that regularly over 200,000 transactions are awaiting confirmation. This in praxis renders Bitcoin pretty useless for normal cash payments and makes it look like a bank transfer where it is normal that you have to wait 24 hours before your money arrives.

And Ripple, which is also in popular demand by new investors, is more a central remittance tool for bank-like payment networks; it has never been a miners’ coin and also lacks the typical decentral character of other digital currencies. Ethereum tokens however, transfer very quickly, at low cost and are not subject to a central authority, but are truly democratic forms of contracts, tokens and currency.

CreditBIT is such a smart, low-cost, swift and decentralized digital token. And because of the democratic character of CRB development and the CreditDAO and the possibilities of the Ethereum smart contract technology, CRB is much more than just another investment-hype for ‘not-so-smart money’. And, when we regard the public support of CRB by e.g. Bitcoin Foundation founding member Charlie Shrem, or the CRB-listings on even larger exchanges and the JAXX wallet adoption coming soon, CRB is still amazingly cheap. Please do your own due diligence and when you are as convinced as many others, give it a try and tell your friends about it too. CreditBIT the future of money …

Links:

CreditBIT official website with links to slack, wallets and white papers in English, Chinese and Slovenian language

CreditBIT markets list

CreditBIT forum

Twitter, Facebook

Free CreditBIT Info mobile application for Android and iOS on google and apple playstores.

The number of unconfirmed ‘back-log’ goes down at the weekend, but up in the week. For actual numbers, see here.

Negotiations are currently running. It is expected that CRB will be listed, but no 100% guarantee.

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Company name: NA

Company site: www.creditbit.org

Email: chrisalexov@hushmail.com


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