The Credit Protocol

Read The Whitepaper

What is the Credit Protocol?

Blockmason’s Credit Protocol is a standardized, reliable and secure method for recording and permanently storing debt and credit obligations on the blockchain.

Build New Applications

The Credit Protocol functions as a foundation for building decentralized applications that involve accounting, defaults, payables, receivables, or tracking any other form of financial obligation.

With these features, companies in finance, healthcare, energy, legal, retail, logistics, entertainment and other industries can build their own decentralized applications and solutions to fit their needs.

How does the Credit Protocol Work?

One entity sends a debt or credit request to another, and that user then confirms the debt or credit, which is recorded and stored within the Credit Protocol’s smart contract.

Use Case Authority Contract

This simple interaction between entities via the Credit Protocol enables a deceptively powerful and complex array of possible transactions when coupled with a Use Case Authority Contract (UCAC) built atop the protocol.

Each UCAC has its own set of rules about what types of debts it will record, when it will record them, and from whom it will accept them.

The Blockmason Credit Protocol Token

The Credit Protocol is powered by the Blockmason Credit Protocol Token (BCPT), an ERC-20 utility token which is required to enable the recording of data through the Credit Protocol to the Ethereum blockchain