Overview of ICO | Distributed Credit Chain
Living in the 21st century it's hard to find a person who would not contact the services of banks, agree to conveniently store your savings in the bank. After all, you do not have to carry around with you and constantly bills and worry that you have lost something or not counted, now it is enough to have a regular credit card and with the help of it you can buy anything. But the main income for the bank is brought by people who take money on credit or in installments, well, for example, you did not have enough money for a new phone or for new sneakers, and you can easily pay off with bank money. Have you ever thought about why a bank should give you money for your purchases? After all, it's unlikely they are good guys who just want to help you, everything is just a banking system arranged in such a way that when you become a client of the bank, you are already laying the expenses that you can do in the future, and in this case it does not matter whether you use with credit money or not, you will in any case pay interest not to know about it. There are a lot of people who do not return money to banks and just these holes are closed at the expense of absolutely all customers of the bank. Today I will tell you about the new generation of the banking system, which is based on blockbuster technology, and this project is called Distributed Credit Chain.
Distributed Credit Chain (DCC) is a platform that will offer financial services based on block-system technology with a decentralized system, by type of loan or credit score. As it was mentioned above that the traditional banking system is not able to distinguish unscrupulous borrowers from loyal customers, DCC offered its solution in the form of a transparent credit history of each of its customers, which will be encrypted under a trust key. In this way, DCC excludes the factor of dishonesty on the part of the occupier. The process itself will look like this when the platform client requests credit, then lenders can request your credit history from the blockbuster, this method takes place in minutes and does not require any effort and expectations for about a week as it happens in conventional banks. This method optimizes and accelerates the work of creditors excluded from the system bureaucratic papermaking, which saves both time and money, respectively.
Since DCC is primarily a decentralized system, the platform will have an independent ecosystem with various automated mechanisms. For example, on the platform there will be a self-moderation process, the lender if he finds out that a particular application can not be considered for lending then the lender will be rewarded with the form of the domestic coins of the platform. In this way, the maintenance of a high level of the platform will be regulated constantly. Also, certain minimum thresholds will be set in the form of internal DCC coins for processing applications for the loan. In turn, the employer can also regulate this threshold in order to speed up the processing of his application or push it to the back burner if he is a nexpex. By this method, this self-moderation will bring the highest-priority applications to the top, guaranteeing the speediness of credit decisions.
If in the traditional banking system, banking institutions are usually located on a local basis, that is, within the framework of one or two states, then there is no such framework with blocking technology. The biggest problem in this case is obtaining a license to provide financial services within certain states.
The algorithm of working on the platform itself will look like this. The first thing you do is register in the DCC application and apply for a loan, your application will be processed automatically and you will only have to wait for the application to get credited. They will review your information and check it, according to the relevant assessment, if all is well and you are suitable their evaluation, then you get a loan. It's simple.
I do not see the meaning of the ICO itself because the project has already collected Hard-cap for a long time and, as a matter of fact, has already ended prematurely, I can only say that this project is supervised from China, and according to the latest trend in crypto-currencies I can say that projects from China are quite good and cheerfully feels on the stock exchanges so I advise you to take a closer look at this coin when it appears on the stock exchange. The coin is also called, as is the reduction of the DCC project, it is based on the protocol of the company etherium, ERC-20. The coin itself will be used purely on the DCC platform for operation inside the network and payments, so the coin is quite promising if the demand on the platform is large.
The project team mainly comes from China, they are young people, experts in their field who already have, as well as experience in financial structures, and education, probably at the best universities in the world in economic fields.
In the end, I want to say that the project is quite promising and I have no doubt that in just six months the course of this coin will be several times higher than its cost at the start of sales. I am sure that this project will introduce a new vision in the field of banking and lending, perhaps this project can open its eyes to the technology of blocking. And I hope that such projects contribute to the development of this technology and maximally generalize it among the masses. Thank you for your attention still count.
White paper: http://dcc.finance/file/DCCwhitepaper.pdf
ANN : https://bitcointalk.org/index.php?topic=3209215.0
ETH address: 0xEc2a6Ca26840644817a8728381ea0c42acab7Afb