When BlockMason launched its utility token in the Fall of 2017, it initially sold for roughly .20-.40 cents; and as of writing this, it’s on the charts for about .67. But, with BlockMason’s BCPT utility tokens, it’s not so much its value that makes it a hot investment/commodity, it’s the technology and system behind it.
Cryptocurrency credit and debt has remained uncharted territory until BlockMason and its Credit Protocol came on the scene. The Credit Protocol basically utilizes Ethereum’s blockchain system to log credit and debt. Other decentralized apps (dapps) can build upon this protocol, to keep records as well; and BlockMason themselves have completed beta testing for Lndr. Lndr, like Friend in Debt and GiftChain, are dapps from BlockMason which utilize the Credit Protocol. Lndr and Friend in Debt serve as digital IOUs for peer-to-peer matters, keeping record of who owes what and in what currency, on Blockchain. Once paid, this too is noted. GiftChain is a BlockMason created dapp where gift cards can be purchased and rewarded to users and managed on the Credit Protocol/Blockchain.
The crypto market is starting to take notice of this young utility token. And as it solely continues to provide credit and debt services to the cryptocurrency market, its value will continue to rise. Its initial token sale caught a lot of attention and now entities are scrambling for ways to adopt BlockMason’s monster.
Another reason for PCBT’s early success is its utility token does precisely what it was created to do. In other words, the token is clear in both mission and goal. As we enter the new year, dapps will become more commonplace. Cryptokitties is a dapp offering users the opportunity to care for a virtual pet cat. One can buy into more features (to allow ultra-customization) and already high-priced kitties can be found online. The kitties and their upgrades are all paid for with cryptocurrency. Decentralized apps like these are paving the way for others to follow.
Essentially, this notion of keeping transparent records of credit, debt and loans is one best suited for the likes of Blockchain. And if we can see who borrowed and from whom, the future for credit, as well as personal and business loan industries, is very bright.