Distributed Credit Chain | Project Overview
Hello friends. Project about which I want to tell today is called Distributed Credit Chain. This project uses blockchain technology. This project is very unique and interesting now I'll tell you.
Distributed Credit Chain is developing in the banking sector. Distributed Credit Chain has chosen this direction for good reason, because the sphere of banking services is the leading sector of the economy.
Today, technology is developing at a high pace. Thanks to its ideas and the desire to change this world, the project offers a new way of interacting people with money. To date, there is a large number of blockchain projects. And gradually they become more and more popular, as they provide ample opportunities for their users. This technology allows us to look at the future with "new eyes" and hope for improvement in all spheres of human life.
The international banking system is a global economic category that expresses the relationship of various interrelated banks and other lending institutions of different states operating within the international financial system with regard to the provision of banking services. The modern banking system is constantly expanding the range of financial services offered to clients under the influence of the growing law of competition in the sphere of financial services. Together with the intensification of competition, the proposed financial services are naturally increasing, and their quality improves. Recently, there has also been a trend towards the globalization of banking.
Thus, the platform creates conditions for the destruction of the outdated banking system by replacing it with a new effective blockchain solution.
The Distributed Credit Chain project is based on the Ethereum platform - which includes smart contracts. Smart contract is the name of a computer code created to organize the exchange of money, content, property, shares or some other value. When you start in the block-network, the smart contract turns into a computer program that is automatically executed under certain conditions. Since a smart contract is performed on top of the blockbuster, it works exactly as programmed - there is no censorship, simple, fraud or third party intervention.
Some advantages of blockchain in banking:
- Absence of monopoly. As a result, relations between the parties will be created at lower prices and improved conditions.
- Ability to create an open source. As a result, there is no need to appeal to a third party, which will avoid unnecessary costs.
- All information will be recorded on the block. This means that the contract between the parties will be governed by technology with fixed rules. Each user will have the opportunity to gain access to information about transactions, which in turn will solve the problems of trust.
Advantages of Distributed Credit Chain
The project is gaining popularity very quickly. In my opinion this project has good potential and I think that it will be a success. In the future, Distributed Credit Chain will become a competitive credit platform, which has every chance to replace banks in providing these services. Already, the project has high marks on popular sources. I want to wish good luck to the team of this project!
My Name on BountyGuru: Nikita Grig