Distributed Credit Chain-Financial Services in Blockchain

When our financing is unstable we often turn to banks to provide credit services. But it requires a lot of documents, time and credit rating. When it comes to your credit rating, we have very little control over what transactions are put through in your name, nor do you have clear visibility on how the rating is computed. Also, all decisions depend on large companies whose financial operations are built in such a way that the client is obliged to pay them too large operating fees and due to the ineffective system of client verification, often there are huge losses of financial resources of this or that company. What if there was a better way using cryptographic technologies.

DistributedCredit Chain (DC) represents the world's first decentralized system, which seeks with the help of technology, the Blockchain, to organize all participants in financial services.In nutshell, Distributed Credit Chain brings credit to the blockchain and restores possession of information to people. It intends to make a series of suburbanized monetary services comparable to Loan Registration, client Loans, and Blockchain credit cards.


The main goal of the project is to improve all available financial scenarios, due to which:

• Any borrower will be able to log in to the blockchain system without any problems for interaction with suppliers, as well as data transfer;

• It will be possible to extract different characteristics of the data, as well as to clean them, avoiding the biggest problems in the future;

• The platform will eliminate such problems of the centralized system as long-term borrowings, and will also allow them to be settled, at the expense of a transparent blockchain system;

• Any funding provider will be able to earn with DCC easily and conveniently, as well as manage their business safely and securely.

The use of Blockchain technology can permit DCC to vary the standard course of operations in banking systems, which is able to cause a permanent increase in communication not solely between totally different regions of individual components of the state, however additionally round the world. This approach can permit to remodel the complete existing structure, setting new standards, increasing the general level of business worldwide.


Why a Distributed Credit Chain (DCC) 

Privacy and data protection

 With a decentralized system, information all the information is not in one place, even if one system is hacked, it does not compromise the entire ecosystem. With DCC, there is a real-time log of transactions, such that if your identity has been stolen, you will know sooner rather than later because you will have visibility on all the credit applications made using your profile as they happen.  

With a decentralized system, information all the information is not in one place, even if one system is hacked, it does not compromise the entire ecosystem. With DCC, there is a real-time log of transactions, such that if your identity has been stolen, you will know sooner rather than later because you will have visibility on all the credit applications made using your profile as they happen. 


Prevent wrong credit reporting and geographically constrained

If you are an individual who moves countries or a company seeking to raise capital, your access to credit is geographically constrained. If you think about the dynamics of globalization and how integrated the world is today, this is an artificial constraint. Because blockchain is a distributed ledger, credit providers and borrowers can interact from anywhere in the world and transaction data is available to every member of the ecosystem regardless of their location.so DCC will be a useful tool.


Prevent the monopoly of large financial institutions

Blockchain enables distributed banking by supporting an ecosystem of interlinked buy separate financial. No one monolithic entity holds all the data in a blockchain system and all players can see complete transaction records. Presently, each of the Big Three and other credit bureaus is separate privately held companies with disparate closed systems. They do not share data and have different methodologies for computing individual credit scores. Additionally, as an individual consumer, you do not have direct, real-time access to your own information. Blockchain technology enables an effective disintermediation of credit scoring those results in lower transaction costs to businesses and individuals alike.

DCC ICO Information

• Token: DCC

• Standard: ERC: 20

• Type: Utility token

• Accepted currencies: BNB and ETH

• Hard cap: 36,500 ETH

• Soft cap: 14,500 ETH

• Full token supply: 500000000


Team

Advisors 


Conclusion

The financial regulatory system is not ideal, and undoubtedly, it still has much to grow. DCC has all chances to be the first to occupy this niche using high technology blockchain. Decentralized credit chains also minimize fraud and the risk of identity theft. In the current framework, individual job seekers, credit applicants, and prospective homeowners are left at the mercy of a flawed model in the credit reporting industry. A critical first step would be to give consumers visibility, in real time, on how their data is collected and used. Distributed credit chains address this. The idea would seem very simple, but incredibly popular and bold.


Contact information of the project:

• Official site - http://dcc.finance

• Whitepaper - http://dcc.finance/file/DCCwhitepaper.pdf

• Facebook - https://www.facebook.com/DccOfficial2018/

• Twitter - https: // twitter .com / DccOfficial2018 /

• Telegram - https://t.me/DccOfficial

Prepared by:

Bitcointalk Username: chamika888

Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1261329  

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