Business Credit Substitute (BCS)

Business Credit Substitute (BCS), with ticker BCS, is a blockchain-based digital currency aiming to build a new retail commercial credit economy ecology. BCS utilizes its optimized Proof of Business Credit (POBC) as the underlying consensus mechanism while incorporating the real-world credit system to enhance the operation and support of the anonymous blockchain network. Focusing on the new retail industry with various practical application scenarios, BCS aims to create a supply chain that is traceable, creditable, transparent, and open regarding data. By integrating consumer shopping, membership services, targeted marketing, and centralized procurement, BCS forms an ecosystem for online e-commerce transactions and offline shopping experiences, benefiting multiple stakeholders.

BCS envisions establishing a blockchain network connected to the real world, providing increased credibility for the blockchain ecosystem, promoting the development of practical applications, and accelerating the transformation of traditional business institutions into blockchain. By introducing commercial credit factors, BCS solves the trust crisis within the anonymous blockchain network and incentivizes business institutions to participate in the blockchain ecosystem. The adoption of the POBC consensus protocol, based on commercial credit, is intended to encourage these institutions’ involvement.

BCS has already open-sourced its blockchain underlying code and released wallets and DAPP applications. The mainnet launch is expected by the end of 2019. The project’s ultimate goal is to empower the real economy by creating a distributed business ecosystem that enhances the credibility of the blockchain, facilitates the development of practical applications, and accelerates the transformation of traditional business institutions.