FAQs

Find quick answers to some of the most important questions about eCredits.

Consumers Consumers
Merchants Merchants
Blockchain
eCredits
eWallet
Rewards
What is a blockchain?
A blockchain is a decentralised database in which blocks of data records are connected chronologically into a continuously expanding list. The data blocks are distributed, stored, and synchronised on many computers, which is intended to protect the integrity of the data against subsequent manipulation.
What are cryptocurrencies?
Cryptocurrencies are digital or virtual currencies with a decentralised, distributed and cryptographically secured payment system. Cryptocurrencies can be traded on public exchanges. Bitcoin and Ethereum are among the best-known cryptocurrencies.
How does a blockchain work?
A blockchain can be compared to an Excel file that is updated in real time and whose validity is confirmed by thousands of computers.

To build the blockchain, each individual transaction is processed by all nodes in the network, or thousands of computers all over the world, before the data is permanently stored within the respective block of the blockchain. This ensures that nobody can manipulate or change entries afterwards.
What are the advantages of blockchain technology?
Decentralised data management: Since the data in a blockchain is not managed by a central authority but decentrally by a large number of involved actors (the so-called nodes), manipulation by individual persons is impossible. All transactions are stored and archived permanently so that a subsequent modification of the data is impossible.

Transparency: The data from public blockchains can be viewed. Although it is not known who is behind an address or transaction, the complete transaction history of the blockchain is permanently stored and can be reproduced at any time.

Reliability: The data records of a blockchain are stored in a decentralised way throughout the entire global network – and not in a single location, such as a server – which means that there is no risk of data loss.
What are the disadvantages of blockchain technology?
Large memory requirements: A blockchain gets longer with each new block. This means that the memory requirements of the nodes in the network – which save the entire blockchain and verify the data blocks that are added – also increase.

Limited scalability: One of the biggest challenges of public blockchains is to meet the requirements of rapid user adaptation without neglecting the aspects of decentralisation. In order to solve this scaling problem, sustainable solutions are already being researched.

Low data throughput: Payment systems such as those of credit card companies can currently process considerably more transactions than a public blockchain. The data throughput (the net amount of data per time that can be transmitted over a network) of a classic blockchain solution is still limited. However, research is underway to increase the data throughput significantly. In addition, private blockchain solutions already offer possibilities to process larger amounts of data simultaneously.

Technically sophisticated: Blockchain is still a very young technology, which is why only a few IT experts currently have the necessary skills to adequately design or further develop a blockchain network. Furthermore, many of the blockchain applications currently in use are not yet fully developed, even from the user-interface point of view. However, the applicability is constantly evolving so that a continuously improving user-friendliness can be expected.
Since when does blockchain technology exist?
The concept of blockchain technology was first introduced in the Bitcoin white paper, which was published in 2008 under the pseudonym ‘Satoshi Nakamoto’. The first block of the Bitcoin blockchain was mined in 2009, and in the following years, a number of other digital currencies based on blockchain technology (so-called cryptocurrencies) were created. Ten years later, there are myriad possible applications for blockchain technology, which is described by many as a groundbreaking advancement of the World Wide Web.
What can blockchain technology be used for?
Blockchain technology can be used wherever processes or transactions need to be checked and verified securely and without intermediaries or third parties. Cryptocurrencies are technically based on blockchain technology and were the first blockchain-based application to gain recognition. However, these are only the first of many examples of how the underlying technology is applied, just as email was once one of the first applications of the internet. In addition, numerous other applications are imaginable: For example, blockchain solutions can be used in the area of a decentralised financial system (also known as DeFi or ‘decentralised finance’ applications), in the area of contract management (by means of so-called smart contracts), or as part of decentralised applications (so-called DApps). The technology is considered to be a particularly relevant application for the Internet of Things. But the blockchain can also promote sustainable improvements in decentralised data management, digital identification possibilities and decentralised computer networks as well as in supply chain management.
Where is a blockchain stored?
A public blockchain is stored on several thousand computers (all participating nodes in the network). Each of these computers keeps an updated and complete copy of the blockchain and is sometimes responsible for checking the correctness of the new transactions (data of the incoming blocks). All transactions of a public blockchain can be viewed, so that it is always possible to transparently reproduce when which transaction was made or received from which address.
What does the future of blockchain look like?
Nobody can predict the future with certainty, and blockchain technology is still at the beginning of its development. However, industry leaders, experts and innovators see great potential in the digital and transparent decentralisation aspects underlying blockchain technology. In addition, new application areas start to use the technology to help shape a better and more secure digital future. We are convinced that blockchain technology offers substantial opportunities, as it favours the development of various useful applications and brings with it a variety of advantages.
What is a blockchain?
A blockchain is a decentralised database in which blocks of data records are connected chronologically into a continuously expanding list. The data blocks are distributed, stored, and synchronised on many computers, which is intended to protect the integrity of the data against subsequent manipulation.
What are cryptocurrencies?
Cryptocurrencies are digital or virtual currencies with a decentralised, distributed and cryptographically secured payment system. Cryptocurrencies can be traded on public exchanges. Bitcoin and Ethereum are among the best-known cryptocurrencies.
How does a blockchain work?
A blockchain can be compared to an Excel file that is updated in real time and whose validity is confirmed by thousands of computers. To build the blockchain, each individual transaction is processed by all nodes in the network, or thousands of computers all over the world, before the data is permanently stored within the respective block of the blockchain. This ensures that nobody can manipulate or change entries afterwards.
What are the advantages of blockchain technology?
Decentralised data management: Since the data in a blockchain is not managed by a central authority but decentrally by a large number of involved actors (the so-called nodes), manipulation by individual persons is impossible. All transactions are stored and archived permanently so that a subsequent modification of the data is impossible. Transparency: The data from public blockchains can be viewed. Although it is not known who is behind an address or transaction, the complete transaction history of the blockchain is permanently stored and can be reproduced at any time. Reliability: The data records of a blockchain are stored in a decentralised way throughout the entire global network – and not in a single location, such as a server – which means that there is no risk of data loss.
What are the disadvantages of blockchain technology?
Large memory requirements: A blockchain gets longer with each new block. This means that the memory requirements of the nodes in the network – which save the entire blockchain and verify the data blocks that are added – also increase. Limited scalability: One of the biggest challenges of public blockchains is to meet the requirements of rapid user adaptation without neglecting the aspects of decentralisation. In order to solve this scaling problem, sustainable solutions are already being researched. Low data throughput: Payment systems such as those of credit card companies can currently process considerably more transactions than a public blockchain. The data throughput (the net amount of data per time that can be transmitted over a network) of a classic blockchain solution is still limited. However, research is underway to increase the data throughput significantly. In addition, private blockchain solutions already offer possibilities to process larger amounts of data simultaneously. Technically sophisticated: Blockchain is still a very young technology, which is why only a few IT experts currently have the necessary skills to adequately design or further develop a blockchain network. Furthermore, many of the blockchain applications currently in use are not yet fully developed, even from the user-interface point of view. However, the applicability is constantly evolving so that a continuously improving user-friendliness can be expected.
Since when does blockchain technology exist?
The concept of blockchain technology was first introduced in the Bitcoin white paper, which was published in 2008 under the pseudonym ‘Satoshi Nakamoto’. The first block of the Bitcoin blockchain was mined in 2009, and in the following years, a number of other digital currencies based on blockchain technology (so-called cryptocurrencies) were created. Ten years later, there are myriad possible applications for blockchain technology, which is described by many as a groundbreaking advancement of the World Wide Web.
What can blockchain technology be used for?
Blockchain technology can be used wherever processes or transactions need to be checked and verified securely and without intermediaries or third parties. Cryptocurrencies are technically based on blockchain technology and were the first blockchain-based application to gain recognition. However, these are only the first of many examples of how the underlying technology is applied, just as email was once one of the first applications of the internet. In addition, numerous other applications are imaginable: For example, blockchain solutions can be used in the area of a decentralised financial system (also known as DeFi or ‘decentralised finance’ applications), in the area of contract management (by means of so-called smart contracts), or as part of decentralised applications (so-called DApps). The technology is considered to be a particularly relevant application for the Internet of Things. But the blockchain can also promote sustainable improvements in decentralised data management, digital identification possibilities and decentralised computer networks as well as in supply chain management.
Where is a blockchain stored?
A public blockchain is stored on several thousand computers (all participating nodes in the network). Each of these computers keeps an updated and complete copy of the blockchain and is sometimes responsible for checking the correctness of the new transactions (data of the incoming blocks). All transactions of a public blockchain can be viewed, so that it is always possible to transparently reproduce when which transaction was made or received from which address.
What does the future of blockchain look like?
Nobody can predict the future with certainty, and blockchain technology is still at the beginning of its development. However, industry leaders, experts and innovators see great potential in the digital and transparent decentralisation aspects underlying blockchain technology. In addition, new application areas start to use the technology to help shape a better and more secure digital future. We are convinced that blockchain technology offers substantial opportunities, as it favours the development of various useful applications and brings with it a variety of advantages.
What is eCredits?
eCredits will be a blockchain based crypto currency with its own ecosystem, which will be accessible to everyone – a payment system for the daily use.

There will be several benefits for consumers and SME merchants:

• eWallet app for the payments of daily goods
• Secure and fast transactions
• Cheap and cost efficient
• Two bonus programs: eCashback and eActivity
• Global transactions
• Europe based
• Excellent customer service

eCredits will be integrated into a larger ecosystem and will run on its own blockchain, supporting smart contracts and it will be open for developers.
How can consumers use eCredits?
To use eCredits, you will need to download and install the eWallet app on your smartphone. The eWallet app will be available for Apple iOS and Android. After the download you have to go through an registration process, which verifies your personal data, after the app's installation on your smartphone. After a successful registration, you can use the eWallet app for payments in store and online and to transfer money to other eCredits users.
What are the benefits of eCredits for consumers?
Mobile payments: The eWallet app will turn smart devices into digital wallets to make paying as quick and convenient as scanning a customised QR code.

Straightforward use: The eWallet app is all about user experience and comes equipped with the latest technology and an easy-to-use and intuitive interface.

Fast transactions: eCredits users can pay, send or receive eCredits and redeem euros almost instantaneously.

Rewarding experiences: eCredits users can earn eCashback and collect eActivities to get rewarded for participating in the eCredits world.

Secure network: eCredits is based on the innovative blockchain technology to make payments secure without losing speed or convenience.

Supported service: Our expert support teams help users with all problems and questions related to the eWallet app, eCredit accounts or transactions.
How do I pay with eCredits in a store?
The merchant enters the amount due to the eWallet on their smartphone and generates a QR code. The consumer opens their eWallet app and scans the merchant-generated QR code. A successful transaction is displayed in both the consumer’s and the merchant’s eWallet apps, and the eCredits are immediately transferred from the consumer to the merchant.
Will eCredits be secure?
By using blockchain technology, we protect eCredits from being altered or manipulated by third parties. Any change to the amount of eCredits is a result of signed and authorized transactions recorded in our blockchain.
Will my user data be protected?
We treat all user data in accordance with the requirements of the General Data Protection Regulation (GDPR). The eCredits user data is not passed on to third parties.
What is the eWallet app?
The eWallet app will be a mobile application that allows you to conveniently pay at all eCredits points of acceptance – in-store and online. With the app, you can also send and receive money, see all eCredits acceptance points nearby and get notified of special deals that are available for eCredits users. With the eWallet app, you can participate in the eCashback and eActivity rewards programmes.
On which devices is the eWallet app available?
The eWallet app will be available for Apple's iOS and Google's Android and can be downloaded for free from the Apple Store or Google Play Store.
How much does the eWallet app cost for consumers?
Once availabe, consumers can download the eWallet app for free from the Apple Store or Google Play Store.
In the world of digital currencies and cryptocurrencies, what is a wallet?
A wallet for digital currencies and cryptocurrencies can be compared to a physical wallet, but, in this case, a wallet stores digital currencies or virtual vouchers. Some wallets include additional features, such as transaction summaries, user information and maps that show where the wallet can be used.
Will eCredits offer a rewards programme?
eCredits will offer two rewards programmes: eCashback and eActivity.
What is eCashback?
eCashback is a cooperation between Cashback World and eCredits. Consumers can join the eCashback loyalty programme for free and are rewarded with up to 5% of the purchase amount for each eCredits payment at a cashback partner. Unlike the traditional Cashback World programme, consumers receive their eCashback in the form of eCredits credited to their eCredits account.
How will I earn eCashback?
eCredits Consumers will join the eCashback loyalty programme for free and are rewarded with up to 5% of the purchase amount for each eCredits payment at a cashback partner. Unlike the traditional Cashback World programme, consumers receive their eCashback in the form of eCredits credited to their eCredits account. The eCredits are credited immediately after each purchase and can be reviewed in the eWallet app under ‘Loyalty’. Please note that not all eCredits acceptance points are eCashback partners. Acceptance points that offer eCashback are displayed as green dots on the map in the eWallet app. Consumers and merchants who are already Cashback World participants can link their eWallet app with their existing Cashback World account. Consumers or merchants who do not yet have a Cashback World account can create one in the eWallet app.
What is eActivity?
eActivity is the rewards programme for eCredits users. eActivities (ACT), the actual rewards, are not equivalent to eCredits, but they are earned for certain activities: For example, when you use eCredits for daily shopping or when you invite a friend to create an eCredits account, you are rewarded. The more you use the eWallet app, the more eActivities you earn. eActivity is not a cryptocurrency, and eActivities are earned through being an active user of eCredits.
How will I earn eActivity?
All registered eCredits users automatically receive an eActivity account. eActivities are ‘mined’ through the active use of eCredits and are, unlike eCredits, not a digital currency. There are two ways to earn eActivities:

• eCredits users receive the invitation bonus for successfully inviting consumers or merchants. An invitation is considered successful when the invitee registers as an eCredits user and completes the identity verification process.

• Consumers and merchants receive the transaction bonus when eCredits is used to pay at an eCredits acceptance point.

However, no eActivity bonus is granted for peer-to-peer transactions between consumers. eActivities are automatically credited to the eActivity account and listed in the eWallet app. To take advantage of the eActivity benefits, eCredits users need an activated eCredits account. Once eCredits has been approved for a country, consumers and merchants will be able to collect eActivities in that country.
Accept All