Curated News
By: NewsRamp Editorial Staff
October 01, 2024
Bitcredit Protocol Aims to Upgrade Bitcoin as Viable Currency
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- Bitcredit Protocol offers businesses a direct solution for working capital and trade finance without intermediaries, giving them a competitive advantage.
- The free software expands the Bitcoin system with a credit money layer M1, redeemable in Bitcoin, backed by electronic bills of exchange as proposed by the UN model law MLETR 2017.
- Bitcredit Protocol aims to upgrade Bitcoin from a store of value into a viable currency for the real economy, addressing the multi-trillion dollar trade finance gap identified by the Asian Development Bank.
- Join the @bitcr_org community on X or LinkedIn to follow the further development of Bitcredit Protocol and be part of the new wave of Bitcoin adoption.
Impact - Why it Matters
This news matters because it addresses the stagnation of Bitcoin's adoption as a global digital currency and offers a potential solution for businesses' working capital and trade finance needs. If successful, this initiative could open up new opportunities for Bitcoin adoption and impact the global economy.
Summary
Despite significant promise and price appreciation, Bitcoin’s adoption as a global digital money has stalled. Bitcredit Protocol aims to upgrade Bitcoin into a viable currency for the real economy, offering businesses a direct solution for working capital and trade finance. The initiative will expand the Bitcoin system with a credit money layer M1, backed by electronic bills of exchange, and is recruiting specialists to complete the development of its minimal viable product version (MVP).
Source Statement
This curated news summary relied on this press release disributed by BlockchainWire. Read the source press release here, Bitcredit Protocol Aims to Upgrade Bitcoin as Viable Currency
