How we change the retail market. The article presents extracts from an exclusive interview with Konstantin Galibus, the CEO and CREDO company founder.

What is CREDO and how will it change the retail market?

CREDO is a decentralized financial system of the next generation. Providing factoring services, CREDO company makes a challenge to all banks, namely: it offers entrepreneurs to refuse loans, in exchange for a buyout of the whole goods batch under the obligation. Moreover ordinary people who connect their bank card to the system, get the opportunity to purchase this product at a significant discount.
Thus, we don't only help entrepreneurs to earn money, but we help ordinary people to save money as well by replacing one trade agent in this chain.

How does your system work?

Let's just go through an example: CREDO buys a merchant’s goods obligation as soon as the delivery takes place. Due to the fact that the entrepreneur does not need to wait until all the goods are sold and even does not have to pay for loans, he makes a small extra charge. CREDO will pay for the goods 80 instead of 100 rubles, and it will offer to buy it for 82 rubles to all participants of its system, thereby giving the biggest discount on the market. The entrepreneur gets back the money spent on the goods and can put it into circulation immediately. CREDO gets a transaction fee and a purchaser gets a great discount. To start using CREDO services it is enough just to connect your bank card to the system.

So you save both of them from credit slavery?

Exactly. Integrating blockchain into our system, we, in fact, offer everyone to become a bank owner. By investing in our project at the ICO stage you will receive tokens, due to which you will be able to receive a commission from each transaction in the system. CREDO has already conducted 9000 transactions, has a 16,120,000 euros turnover and more than 1,000 customers, including partners in China, the UAE, Spain. Every day we are growing, and we want to start a global advancement by using blockchain.

At what stage is the project now?

We have already gone through a long way of 7 years. This system has been tested in a whole region of Russia - in Karelia, in partnership with its government. We have received a patent for our technology. We are already working with partners in China, Spain and the UAE. Now we are about to launch the ICO to attract investors, and next year we are going to launch a huge advertising campaign and a global company advancement in cooperation with partners around the world!