Creditcoin Q&A | Feb 2023

See what we covered for our February's Q&A session!

Creditcoin Q&A | Feb 2023

1. Which part of the project is your team currently focused on? What do you think is the most important feature for growing the community further?

We have plenty on our plate at the moment, but our primary focus is on making the Real World Assets (RWAs) ecosystem more feature-rich and easier to use. We acknowledge accessibility is a bit of a problem at the moment, and so we will be releasing feature updates designed to make it easier than ever to start investing in Real-World Assets. Investor DAO was the first step, but here’s a quick summary of our next steps in the short-term:

  • Improvements to the user experience, especially our mobile app (the biggest focus). This means upgrading the mobile app with new and improved features, streamlining the signup process, as well as adding some major Web3 interoperability features in the near future.
  • Giving our users greater flexibility and options with Gluwa Invest. We’ve already mentioned the transition to monthly interest rates, but we also want to add new ways for users to invest in our products. That means more stablecoins and supported chains.
  • Securing more partners and Opportunities for Gluwa Invest. In order to maintain a steady offering of investments, we need a diverse portfolio of partners for you to invest in. We’re constantly working to find new deals and bring them to you.
  • Ramping up our educational content. What good is building the future of finance if people don’t know how to find or use it? At the moment, we’re laying the groundwork for our new educational pipeline with tonnes of new materials, training courses, and events in the works.

On the longer horizon, we’ve got exciting news coming for Creditcoin — stay tuned.

2. Gluwa’s business operations seem to be largely focused in Nigeria. Whilst the partnership with Aella has been very successful, what are Gluwa’s current plans to expand into other markets in Southeast Asia, Africa, and Latin America?

It certainly may seem that way. Aella is our biggest and most successful partnership to date. Plus our partnership agreements with the Lagos State government and Lekki Free Zone, both in Nigeria.

However, our focus has always been more international, with an emphasis on securing Real World Assets (RWAs) partnerships across a wide variety of emerging markets; Simply look at our current pool of RWAs partners and the local communities they serve.

Untapped Global has funded over 10,000 real-world assets in over a dozen countries spread across Africa and Latin America. Jenfi, the company behind our very first Investor DAO Opportunity, has existing operations in Singapore, Vietnam, Indonesia, and Malaysia. Even Aella themselves aren’t restricted to Nigeria, in fact, they too have operations across Africa.

Beyond the companies we have existing investment relationships with, we have also secured partnerships with Amiloz, Credrails, DigiKhata, Rubyx, Awabah, Goodloans, and YoFio. These companies all operate across a huge variety of emerging markets.

Blockchain has no borders, and that is closely reflected in our business strategy.

3. I have family in Canada and the USA. Are they able to use Gluwa’s investment products?

We’re always trying our best to ensure our products are as accessible as possible. Unfortunately, not everybody can invest at the moment. Currently, USA-based citizens and residents are prohibited from using the Gluwa Invest platform due to ongoing regulatory uncertainty.

Gluwa Invest is open to investors, including your family in Canada. If that ever changes, we’ll notify our users ASAP.

4. With the SEC pushing for more regulations regarding staking, will Creditcoin & Gluwa users be affected?

The recent enforcement actions by the SEC against Kraken have prompted concerns about the legality of crypto staking services in the US. However, it is important to note that the SEC’s actions have been focused on crypto ‘staking-as-a-service’ offered by centralized custodians. The key argument is that ‘staking-as-a-service’ products violate securities rules and are unregulated securities offerings.

However, the SEC’s current arguments only target centralized crypto service providers, rather than decentralized on-chain staking itself. Whilst Gluwa is a private company, the Gluwa Wallet is completely decentralized, as is the CTC staking function found in the Gluwa Wallet. Therefore, decentralized on-chain staking services like Gluwa’s CTC staking should not be directly affected.

Despite this, the SEC’s ongoing actions continue to contribute to extensive regulatory uncertainty surrounding crypto in the US. Gluwa is closely monitoring the evolving regulatory landscape to inform our long-term decision-making. We will continue to assess the impact of regulatory developments on our products and services, and notify our users of any changes.

5. When I look at the Creditcoin Block Explorer, I often see transaction failures. What are these failures and why are they happening?

If you’ve looked at the block explorer Extrinsics page, you may have noticed an uptick in failed red transactions recently. These failed transactions are simple ‘Register Address’ transactions. In this case, a user is trying to register an address that has already been registered. Basically, there’s nothing actually going wrong on the chain, the failure is simply from user error.

Additionally, we are continuing to improve our network to handle more contract transactions.

About Creditcoin

Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets.

By working with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history and facilitating trust for millions of underserved financial customers and businesses based on the principles of Real World Assets (RWAs).


About Gluwa

Gluwa is an Real World Assets (RWAs) platform, connecting capital from developed markets to emerging market lending opportunities using blockchain technology. By providing the decentralized infrastructure rails to raise and disburse capital anywhere in the world, investors can use the Gluwa Invest platform to partake in debt-financing deals with emerging market fintech lenders, earning up to 20% APR.