DISTRIBUTED CREDIT CHAIN ICO REVIEW
In the modern world of lending, customers and the company can benefit, but often, the lender gets a big profit. What are the disadvantages in the modern banking system? There are three main disadvantages:
- Inefficient system of checking borrowers, which leads to bank losses;
- The huge interest rates that banks establish lead to the fact that the client loses the ability to pay debts;
- In the event of non-payment or delay in the loan, banks use collection services that may harm the property or health of the client.
- Many entrepreneurs who open their first business face financing problems, which is why they are forced to seek help from the bank. In the bank of the businessman waiting for a paper red tape, which can completely discourage the desire to conduct business.
Distributed Credit Chain will solve these problems once and for all.
The company set a goal: to create the most loyal economic environment, which will allow both customers and the platform to develop equally. The main purpose of the Distributed Credit Chain is to reduce the impact of banking monopolies that harm healthy competition and prevent young companies from developing because of high interest rates. What tasks did Distributed Credit Chain set for itself?
Distributed Credit Chain is working to create a decentralized credit system, which uses modern technology of blockchain.
The company seeks to reduce the level of monopoly influence in the credit sector. Because of the decrease in the influence of banks, there will be robust competition, interest rates on loans will decrease, and new business projects will have the opportunity to develop with minimal costs.
One of the most important tasks is to create a secure money transfer system. To solve this problem, special smart contracts built on the blockchain system will be used.
Creating conditions for solving the main problems of modern lending, for example - long-term loans. To solve these problems, a blockchain system will be used, which will greatly simplify the task.
Advantages of Distributed Credit Chain
In addition to the obviously correct tasks, the project has significant advantages, such as:
After reducing the influence of monopolies in the banking sector, the platform will attract start-up entrepreneurs who need financing, which will significantly increase the popularity of the Distributed Credit Chain.
The introduction of blockchain technology into the banking structure will avoid a huge number of paper documents. The transfer of the entire banking system to the Internet will greatly facilitate the lives of millions of people
Thanks to the blockchain, the platform will be able to cover the whole world, which will open the possibility of free communication between creditors and borrowers.
The blockchain system also allows you to keep the data unchanged, which will make the transaction history completely transparent and secure.
By raising the bar of quality, the platform will improve the quality of financial services around the world. Competition in the banking market will bring great benefits to all young entrepreneurs.
The platform works as follows. The client registers on the site, after which all information about it is sent to the system. Of course, all communication channels and all data are protected by unique encryption. After the user registers, he can choose the function he needs (the platform provides several types of financial services, in addition to lending). In the event that the client draws up a loan on the platform, a unique smart contract is concluded between it and the lender. Thanks blockchain all further transactions - completely safe and transparent.
The platform uses a unique coin - DCC (Distributed Credit Chain), built on the basis of Ethereum. The token uses the standard type: ERC-20. On May 28, ICO was launched, with a hard drive of 26,500 ETH (about 16 million US dollars), it is noteworthy that the ICO was completed - ahead of schedule, as the necessary amount was collected. The price of one DCC token, at the time of the ICO, was 0.000073 ETH. A total of 500,000,000 DCC coins were issued. They were distributed as follows: 25% for marketing and reserve, 5% for ecosystem and consulting, 10% for business support, and the remaining 30% for the project team.
In conclusion, I want to say that the Distributed Credit Chain is a very promising, large project, with an excellent team. Developers pursue good goals and set themselves the right goals. It is encouraging that the project very quickly collected the necessary investments and received support from large companies. I believe that Distributed Credit Chain is definitely worth your attention.