Welcome and thank you for taking the time to read this update.
As highlighted in previous updates.
Qredit will be restructured into 2 different entities, both operated within the HQ in Sweden.
The 2 entities are named Qredit Technologies AB registered in Sweden and Qredit Motion registered in Lithuania.
Qredit Technologies will remain the R&D company for blockchain development, together with hardware and software solutions for satellite providers and automotive industries.
Qredit Motion will become the entity in control of all the licenses and operations regarding financial solutions.
- Qredit Technologies and the Qredit Blockchain
In the last few months, we have been working hard on several blockchain solutions for a number of industries.
Some of these projects are in the R&D phase, others are getting closer to the release phase.
Details of these Qredit Technologies projects will remain private until release, to stay ahead of our competition and protect our intellectual property.
Which is one of the reasons why some information in the previous update regarding Qredit Valkyrie and the satellite project was removed from our website.
All of the projects within Qredit Technologies utilise a single-engine on the Qredit Blockchain named QAE.
QAE stands for Qredit Always Evolving which is the smart contract protocol for Qredit, similar to ERC for Ethereum or TRC for Tron.
QAE-1 was released in 2019 as a simple token protocol on top of the Qredit Blockchain.
Since the release of QAE-1, a total of 100 unique tokens have been created on our blockchain, with more being created.
QAE-2 is very close to full public release and is currently running as a sidechain on separate nodes.
The first transaction for QAE-2 was made on the 22nd of June, 2020.
The new smart contract protocol will offer additional functionality with metadata and allow users to create non-fungible assets (each token/item on a contract can have unique characteristics).
Creating a token is not all that you can do with QAE-2.
QAE-2 enables tools and solutions for game-development, scientific research, satellite equipment, financial services, DeFi, the automotive industry and solutions for many other industries. We are already working with some of them privately.
QAE-1 will run individually alongside QAE-2.
QAE-2 will be integrated later into the core of the Qredit Blockchain at version 3.0.
The smart contract protocol utilises the vendorField also known as the Smartbridge field. At version 3.0, QAE will be integrated into the core of Qredit as custom transactions and the Smartbridge function will no longer be used for QAE transactions.
So what does this all mean for the average Qredit holder/user?
For each QAE transaction on the Qredit Blockchain, a transaction fee is required.
The Qredit Blockchain will gain greater utilisation and demand for XQR/Qredit will increase due to these fees and the tools provided by Qredit Technologies.
The Qredit Blockchain is currently utilising less than 1% of its current capacity, there is plenty of room for growth.
As more projects and companies join Qredit, the better it will be for the Qredit holder in terms of value and the ongoing development of Qredit.
Further information regarding Qredit Technologies and project Valkyrie.
Qredit Technologies AB is now located at a new address, the full address is Tågsjöberg 109, 88037 in Junsele, Sweden.
Together with Northwest Hosting, a facility will be opened in Junsele for the Valkyrie project.
This facility is located on an industrial site in a remote area in Sweden where we have approval for testing the equipment we have developed and the equipment we will be using from our suppliers, such as Hypernova Space Technologies in South Africa.
As mentioned in our previous updates, a weather balloon together with satellite equipment will be released for testing our software, this testing will be performed from the same location.
Unfortunately, we are not able to release any further information about Qredit Technologies and Project Valkyrie at this stage. We aim to release further public information in December 2020, together with a list of our official partners for 2021.
A live feed to the facility will also be made available around December 2020.
Alongside Qredit and QAE, we are now developing Persona as our own project on the Qredit Blockchain, using QAE-2 as the fuel.
As mentioned in previous updates. Persona will have a silent release shortly after Qredit Motion (read next section for Qredit Motion).
Persona will be an open-source KYC solution for companies, credit card providers, banks, exchanges, booking agencies and any other public or private sector industry that requires KYC solutions for their business.
Since the new AML5D regulation launched in Europe, the demand for KYC solutions is growing rapidly.
While many businesses join the race to become the ultimate KYC solution provider, most of them seem to ignore the end-user.
So much sensitive data is being shared since the EU regulation, that it is now becoming unsafe to share your data with a company.
Most users no longer take the time to research the KYC provider before providing/submitting their information.
Persona doesn’t aim to become “another KYC provider” in this industry. It aims to become the universal KYC solution that connects to any other KYC provider with the aim of users sharing their sensitive data only once.
Any company or individual will be able to request basic user details using an API without any financial implication.
This free solution will allow small companies, non-profit organisations and academic organisations to save on KYC compliance costs.
The Enterprise business sector will be able to use advanced (paid) functionality of Persona to verify user details, which will benefit both Qredit and Persona, token holders.
- Qredit Motion
Since Qredit’s inception, we always aimed to become a payment service provider in Europe.
Over the last 2 years, we’ve adapted the vision and mission of Qredit a number of times, subsequently, Qredits goal and direction became unclear to our community of investors and supporters.
The main reason for these changes was the lack of clear rules, direction and the ever-changing laws within the European Union.
We have been battling to gain the EMI license for Qredit Motion and it’s almost (finally!) here.
We’ve partnered with a private investor and applied for an EMI license in Lithuania.
Qredit Motion will finally become what was described in our very first whitepaper (January 2018)! A payment service provider with low fees, super fast and cross-border transactions.
An all-in-one fiat and Crypto banking platform for everyone, aiming to grow our market share vs the biggest competitors in the FinTech industry.
Qredit Motion will be a financial and banking application, covering 95% of all desktop and mobile devices with the following features:
- Online payments
- Store payments
- Crypto payments
- Multicurrency wallet
- Currency exchange
- Virtual and physical debit cards
- Instant gift card purchase
- Alternative staking options for passive income
- Persona functionalities
- B2B and B2C solutions
Qredit Motion is just around the corner.
Many of these features will be available in November 2020.
We acknowledge that we have been incommunicado for a long while this year.
Rest assured, there is a lot going on behind the scenes.
Due to market conditions, legal hurdles and funding limitations Qredit was unable to support a larger team which we are aware would have helped accelerate our plans.
But things are about to change!
We are moving forward and the future looks brighter than ever before.
To stay ahead of our competition and to comply with the obligations of non-disclosure agreements, we have to keep this update short and the information provided to the public a little more limited than normal, at least until Q4 2020.
For now, we will release a short view of our roadmap below.
Please follow us in our telegram channel and let us know if you have any questions:
To be continued…..
CEO of Qredit Technologies
General Roadmap for Qredit, Qredit Motion and Persona.
- Release the first stage of Qredit Motion: November 2020
- The final stage of Altilly licensing and incorporation: November 2020
- Accepting fiat payments through Altilly and Qredit Motion: November 2020
- First marketing phase of Qredit Motion: December 2020
- Official public announcement of the Valkyrie Project: December 2020
- Release QAE-2 with documentation: January 2021
- The final stage of Qredit Motion licensing: February 2021
- Debit cards Qredit Motion: March 2021