Credit Protocol

luke

Pre-Announcing the Credit Protocol Token Sale — US Customers Welcome!

Hi, I’m Jared Bowie, cofounder of BlockMason, and I’m here to announce the upcoming token sale for our newest, and most exciting product development yet: the Credit Protocol.

Until now, it was only possible to move money on the blockchain in the form of cash. Bitcoin democratized the transfer and storage of money, and Ethereum democratized the creation and storage of monetary contracts. With the Credit Protocol, BlockMason has taken the next logical step in the decentralized economy: an open source product that democratizes currency creation through indelibly recorded debt and credit obligations between parties.

In our forthcoming Whitepaper, we outline several of the limitless applications of the Credit Protocol, including virtual economies for schools or businesses, microfinancing, the issuance of retail gift cards, and vendor reward points, to name just a few - and DP enables anyone to develop them. One of our own applications of DP is about to deploy in beta version, so purchasers can test it before our token sale. Implementations of the DP can record mediums of exchange, units of account, store of value, and standards of deferred payment. In fact, because an individual need not own ether to in order to draw debt in ether, it is entirely possible to imagine a future in which debts and credits recorded on the Credit Protocol could exceed the total market capitalization of all cryptocurrencies combined, dramatically increasing the scale of the digital economy. Our soon-to-be announced application of DP will show you one powerful way debt and credit can be protected and strengthened by the security and flexibility of the blockchain.

BlockMason is also happy to announce that our token sale will be open to all customers, including those in the United States. When the SEC recently signaled it would monitor token sales more closely, we were delighted to see that it followed the same lines of analysis that our legal counsel gave us months ago. Because we have been developing products and plans for a sale of product-use tokens rather than investment tokens, we suddenly found ourselves confirmed in our plan: and soon we’ll do a worldwide token sale, perhaps the first, of US-law-compliant product-use tokens. Rather than back away from the legal challenge of positioning our products in this new economy, we have spent the last few months carefully vetting the Credit Protocol with legal counsel. Our legal opinion letter be available soon, along with our Whitepaper, well before our token sale.

Most importantly, At BlockMason we don’t believe in soliciting contributions based on empty promises and flashy whitepapers. Instead, we want to offer a simple, powerful, and **ready-to-use protocol **from the get-go, demonstrating our commitment to executing our vision and delivering on our obligations. We want to enable you to see for yourself how you can use our open source technology and develop it for any application you can think of. That is why, in just a few days, we will invite all of you to test a fully functional and ready-to-use beta version of our first distributed application implementing the Credit Protocol. Stay tuned for an announcement about the deployment of our newest dapp to the testnet for public use.

We look forward to releasing our beta dapp, Whitepaper and legal opinion in the coming days, so stay tuned as we elaborate on the vast possibilities of this new technology. Until then, please visit our website to get in touch and stay updated on further pre-release details about our token sale.

Links:

Main site: http://blockmason.io

Credit Protocol site: http://blockmason.io/projects/creditprotocol/