Distributed Credit Chain (DCC) is the world’s first distributed banking public blockchain with a goal to establish a decentralized ecosystem for financial service providers around the world. ICO LIVE!
The sphere of lending has been around for a long time. With the spread of the Internet, a huge portion of the credit segment is controlled by a huge analysis of information. But today's credit industry has significant problems. Responsible for management are the fragmented parties, which have their own centralized system.
In any country on the planet there is a monopoly on loans. The bank takes a percentage of the loan. This causes the client to reimburse the risks.
The credit industry has such a structure that ordinary people will never be offered a favorable condition for obtaining a loan. They will be charged interest.
Such conditions are offered by the latent monopoly of the transnational banking segment, where there is no real competition and political opportunities for the industry's curators.
Now let's take a closer look at this project.
Distributed Credit Chain is a project with a decentralized banking system that can unite service providers and customers. The project is based on Blockchain technology, which operates worldwide. It will change traditional financial services and make them simple and convenient. This will become available thanks to the transparent Blockchain system, which allows you to save information and provide it to all users. All entries stored in Blockchain can not be changed. Any regulator will be able to look at the underlying assets in real time and determine what is happening at the moment. Also, regulators will be able to monitor industry risks and, in which case, immediately respond to them.
This financial method of work is special and it has very significant differences from existing methods that are used in the banking business today, but the creators of the project see it as an entire ecosystem with financial services.
The project selected Ethereum as the basis for decentralization and Smart Contracts.
The DCC Token will act as a universal payment currency, uniting participants from all over the world. He will undertake the following important functions:
Any reporting documentation of users, companies, enterprises or bank agents, which is stored in a blockchain, there will be an opportunity to buy. This is necessary for analyzing the risk and optimizing the production processes.
Credit agencies that need an international certificate will be able to pay for tokens.
During the taking of a loan by the client, he contributes a part of the amount at the time of applying for a loan. The larger the amount, the faster the application for credit will be reviewed and approved. Some small percentage goes to the incentive fund for a timely payment. This will serve as an incentive and motivation to pay the debt faster.
The company has a very strong, competent and successful team, which already has experience in banking, and with implementation there should be no difficulties. On the other hand, Distributed Credit Chain can bring the sphere of crediting to a new, high level and make a revolution in the banking and credit spheres.
Having studied this project, it can be concluded that it will be realized to the full and will reach the big market. We will observe with interest its development.