Creditbit Puts Up a Development Progress Review for The Community’s Benefit

By June 5, 2017Bitcoin Business
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The Creditbit dev team presented the Creditbit community with a development progress review in its latest post on Bitcoin Talk, the crypto discussion forum. The dev team gave a progress report of various Creditbit features as promised earlier.

According to the review, CreditDAO and CreditIDENTITY Smart Contracts are almost finished. Contracts will be deployed on testing networks to live test all features. IDENTITY will probably be deployed on the main-net by tomorrow evening. Updates to be posted soon.

Elections to be triggered soon following the deployment of both Contracts on the main network. CreditDAO Executive Board members will have some dedicated powers, which enable members of Community to participate in the future development of CreditDAO and Community as a whole.


Several Ethereum Addresses can be attached to the identification Account of the users. Initially, an Account should only have max. 10 basic identification fields (name, surname, address…). This way, a person can disclose his identity and all Ethereum addresses that belong to them. Each Address can also have a quickname.

The subpage, CreditIDENTITY has also been uploaded on the website.

DAPP (in development)

The screenshots for the dapp have been posted for the community’s perusal. It is under active development, and is set to be delivered soon after the DAO is published on main-net.


CreditDAO will be released soon after CreditIDENTITY.

The elections for Elected Commons are to begin soon, and slated to end by the end of July. There is much to be done as the distributed application is also being developed on side.

Executive Board with all sub funds will be generated at once and filled with CRBITs that were created and locked at the migration. After the elections of the Elected Commons and consequently the elections of Executive Board, the right to manage these sub funds will be granted to EB members.

It is imperative for all the candidates for EB to reveal their identity with CreditIDENTITY, personal data will be verified by the Community to guarantee that it represent a true person.

Creditbit dev team is looking to have trustworthy, technologically versed and recognizable candidates for a place in the EB.

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