We are always looking to offer our community of traders access to the most popular, promising and innovative crypto projects. Today, we are excited to announce the upcoming listing of the eCredits token (ECS). Starting from 8 November, eCredits will be available in three trading pairs.
What is eCredits?
eCredits is a cryptocurrency whose launch was supported as by the Swiss venture builder Cryptix. eCredits is envisioned to become “The people’s currency”, the preferred method of transactions for shoppers when purchasing products and services from local businesses and merchants. The broader vision of eCredits is to promote local shopping, strengthening local communities and contributing to more sustainable practices.
eCredits (ECS) is a decentralized blockchain utilizing the proof-of-authority (POA) consensus mechanism. Consisting of Supervalidator and Validator nodes, the consensus mechanism allows for highly efficient and scalable transactions validation while maintaining a high degree of security.
The project will initially be governed by a community-run decentralized government organization (DGO) that includes various stakeholders of the project.
What eCredits (ECS) envisions
eCredits was envisioned to be a cryptocurrency that promotes and strengthens local communities, shoppers and MSMEs in particular. The entire eCredits ecosystem was designed with the needs and interests of consumers, local merchants and retailers in mind. A particular focus is placed on enabling Micro, Small and Medium-Size Enterprises (MSMEs) to compete with Multinational Corporations (MNCs) in the acceptance of crypto and digital solutions.
MSMEs want to offer their local consumers the products and services they need on a daily basis. They want to entice them with accepting crypto transactions while increasing profit margins through reduced transactional costs. Major issues MSMEs currently face with digital transactions are:
- Limited access to the financial markets and its tools
- Challenges to compete with MNCs in modern marketing tools and customer retention
- High transaction fees of ~3 % when accepting credit/debit cards
- No easy and efficient system to implement acceptance of crypto
Shoppers and consumers want to conveniently buy the products and services they need, without having to travel for or wait for their purchase. They want to contribute to sustainable shopping and their communities if incentivized in return. Major issues consumers currently face are:
- No easy way of making crypto transactions for daily products/services
- No additional incentives and rewards for shopping locally
- Lack of awareness or personalized offerings from local merchants
How eCredits (ECS) solves these problems
ECS is a cryptocurrencythat exists independent of fiat currency. The ECS token is not a stablecoin, its value being solely determined by supply and demand. Its goal is to become shoppers’ favorite cryptocurrency for utilization in daily life.
As the ECS token is hosted and transacted on the eCredits blockchain which is based on the eco-friendly PoA consensus, transactions can be processed in real time and at low cost. The ECS token is free-floating and publicly tradable through crypto-exchanges like Blocktrade, providing easy access for consumers to trade and purchase ECS.
Merchants and local shoppers benefit from a simple and highly convenient to use and implement method for accepting crypto, the ability to receive liquidity quickly (compared to debit and credit cards), increased profits through lower transactional costs. Additionally, the marketing opportunities provided via the eCredits wallet enable merchants to increase customer retention by offering special incentives to customers in the form of eActivity rewards.
Consumers profit from the ability to use ECS via the user-friendly eWallet App at local merchants or online while receiving eActivity rewards for buying from these shops. In addition, they can also make use of special offers that are only available in the eCredits ecosystem.
How to use eCredits
ECS can be used with its own custom wallet, to use in stores, online shops, bars and restaurants, as well as for peer-to-peer transactions. In addition, the eWallet App offers features such as the integrated reward program eActivity, which rewards users for their activity within the eCredits ecosystem, and eCashback, which provides direct cashback at acceptance points. The eWallet App will be available for download in Google Play and Apple App Store by the end of the year.
This is not a financial advice. This is not a recommendation to buy, sell, or participate in the associated network. We would like to encourage you to do your own research and invest at your own risk.