The Bitcredit Network

1. How it works

2. Mints (Wildcats)

3. Clowder 

4. Electronic Bills of Exchange (e-bills)

Bitcredit Network is enabling trade credit for buyers via e-Bills of Exchange. Sellers endorse these at decentralized "Wildcat" Mints for spendable ecash, creating a sound, autonomous coordination layer for trade.

Bitcredit Mints (Wildcats)

The Bitcredit Network composed of credit mints called 'wildcats' plays a central role in turning business credit into spendable digital cash. Guarantees & Onchain Security

Wildcats must lock $e-IOU, in a channel with a scripted conditional remedy transaction, creating a 100% asset-backed guarantee. This mechanism:

• Protects eCash end users from a default of eBill payers

• Funds a remedy transaction if a 'rabid' wildcat fails to fulfil its obligations

• Signals transparent proof of wildcat health on the Bitcoin mainchain

This ensures that e-cash in circulation is traceable and verifiably backed by bitcoin and eBills and guarantee assets.

Permissionless Participation & Decentralisation

Bitcredit mints operate in a non-custodial, peer-to-peer fashion, anyone can download the open-source Wildcat software, run a mint, and compete on minting fees, service levels, and guarantee ratios. The result is a globally available, 24/7, decentralised network with no single point of failure. This open structure ensures constant uptime and robustness, as well as resistance against censorship and rug pulls.

Clowder

The Bitcredit Network is clustered in 'clowders' of self-supervising wildcats. End users of Bitcredit eCash enjoy bitcoin-level availability and security. The intermint mechanisms of Bitcredit Protocol ensure 24/7 uptime and prevent losses if a business payer defaults or a wildcat disappears. All risk is contained on the mint and eBill level.

Electronic Bills of Exchange (e-bills)

An electronic version of traditional bills of exchange, sound and legally enforceable in practically all major trading nations, secured by international agreements like the Geneva and Vienna Conventions.

Use of Bitcoin Technology

• Bitcoin mainchain ensures verifiable final redemption of eBills.

• Statechains record eBill ownership, encrypted for parties.

• Taproot addresses enable auditable settlement on Bitcoin.

Real Bill Principle

Minting is strictly limited, Bitcredit policy only allows short-term eBills issued against real value. This prevents the inflationary dangers of fiat money issued against unlimited long-term financial assets.