BlockMason Credit Protocol (BCPT) is developed as an ERC-20 token on Ethereum blockchain to license the use of Credit Protocol (CP). The Credit Protocol is a system for recording debts and credits between the users on Ethereum blockchain. The BlockMason Credit Protocol (BCPT) token is used to control the number of transactions permitted per BCPT based on network traffic. The Credit Protocol supports the Use Case Authority Contract (UCAC) which can be embedded on the top of the protocol with itsShow more [+] own set of rules defining the types of debts it will record. For instance, a UCAC can be used to permit transactions from only certain certified users thus allowing the organizations to build private credit/debt recording contracts. Each UCAC requires the users to stake a minimum of one BlockMason Credit Protocol (BCPT) token. The possible use cases for BlockMason Credit Protocol token is in microfinancing, retail gift cards, consumer loans, airline miles/credit card points. The BlockMason Credit Protocol also offers a social tool for users to track and issue debts among friends and family members or other individuals in their community through the use of Lndr application.
BlockMason Credit Protocol was co-founded by Timothy Galebach, Jared Bowie and Michael Chin. The founders have vast experience in automated infrastructure development, distributed databases, and finance. There are 6 other members in the team. There are 7 advisors in the advisory board including Anthony Dilorio, co-founder Ethereum Founder. BlockMason has partnered with Orichal (blockchain advisory firm) and BaseLayer (a leading crypto marketing agency in Japan.
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