Week 15 @ Bitcredit
• New “Request-to-pay” flow nearing completion
• Commitment method activated across all flows (mint, swap, melt)
• Wallet upgrades: added fiat FX rates.
• Testing across devices + automated offline scenarios
• Preparing for Mainnet version

Bitcredit Protocol versus:

Lightning:
- Lightning = payment scaling
- Bitcredit = liquidity scaling

DeFi:
- DeFi = overcollateralised crypto lending
- Bitcredit = credit money backed by real goods

Stablecoins:
- Stablecoin = centralised fiat-backed IOU
- Bitcredit = P2P self-liquidating IOU

Credit money for currency, must never be issued against national debt.

There is no production, no goods, no proof-of-work, backing such issuance.

It is clandestine theft.

Week 12/26 @Bitcredit
• Unique payment addresses per transaction/stage
• Offline-first live, auto retry + sync
• CDK removal nearing completion
• eCash progress:
Spanish, Multicurrency, PIN + biometrics, deep links

The fiat money system is cracking at its seams. The latest Middle East conflict worsens its so-called "Trade Finance Gap" which already amounted to $2.5T before the war.

This speeds up the urgent need for Bitcoin in World Trade, geopolitically neutral, resilient, non-bureaucratic Trade Finance on unstoppable#Bitcoin rails.

Overregulated fiat banks may still support big traders but smaller and middle sized ones will fall by the wayside.

“If you’re a bank in this environment, you’re going to focus on those large established traders, and the intermediate and smaller traders could be iced out of the trade finance market,” says Sumeet Malhotra, Head of the Commodities and International Trade practice at Singapore law firm WFW.

Full article:
https://www.gtreview.com/news/global/hormuz-crisis-could-drive-flight-to-quality-in-commodity-finance-market/

“In particular, it is necessary to take account of certain forms of credit not connected with banks which help, as is commonly said, to economize money, or to do the work for which, if they did not exist, money in the narrower sense of the word would be required.

The criterion by which we may distinguish these circulating credits from other forms of credit which do not act as substitutes for money is that they give to somebody the means of purchasing goods without at the same time diminishing the money-spending power of somebody else.

This is most obviously the case when the creditor receives a bill of exchange.”

Prices and Production
F.A. Hayek

Global trade all over Africa has a big challenge in availability of trade finance for businesses under $5M.

Bureaucracy of financial intermediaries, refi cost for central bank monopoly money and legal fees is just too much for African SMEs.

Trade Finance on #Bitcoin fixes this!

Bitcredit Protocol concluded a successful two day conference appearance in Cape Town. We onboarded 35 commodity traders, import/export companies, and real goods producers to Bitcoin.

Bitcredit Protocol orange-pilled 25 companies in Cape Town, South Africa today.