Distributed Credit Chain [DCC] is a blockbuster project aimed at changing the financial sector through a platform for converting distributed credit reporting, debt registration, capital management and asset management. Distributed Credit Chain wants to return the power of financial services to users bypassing the traditional banking system. With plans for the first entry into the credit business before the expansion of distributed banking services, business contracts will be used to settle services and allocate funds, respectively in a safe manner.
Currently, there are many problems in the credit services market that need to be addressed, which are mainly caused by the centralization of organizations. Online credit agencies are known for using privileged information and circling around making profits, not innovations. The credit industry has several players who make it monopolistic and because of the different payment structures in its model, this industry is extremely harmful to people. The main problems with these credit services are: cost, efficiency and borrowers.
Credit organizations earn their money by charging extra people. They do it to pay for a bad debt, which is very irrational, Distributed Credit Chain developers are sure. The effectiveness of these services is also in question, as most borrowers are not aware of the requirements. Credit reporting services reduce the effectiveness of service provision by recommending products to consumers based on their credit rating. While credit systems in some countries are often underdeveloped, which leads to higher interest rates and duties, the likelihood of coming to an increase in bad debts, which as a result can not be repaid, increases. People who fall into this chain also often do not know how the credit system works, interest rates of the borrower can confuse him. It is also important that the user may not be aware of their rights. This system forces people to borrow money in an endless cycle, eventually tie it to this system forever.
Distributed Credit Chain offers solutions for creating multiple plans to address the above problems. To preserve information about the real attributes of operations, applications for loans, loans, redemption and bank cards, a system for identifying user accounts will be created. This information will be stored through private keys and will use the signature technology through the block system to ensure that the information will not be used.
On the credit side of the Distributed Credit Chain platform, a data transfer verification (SDV) implementation will be created, which will be easily introduced into the user's risk management system. The data chain that is collected with the SDV will automatically update the order confirmation. The entire life cycle of user transactions is stored and analyzed with each request, so it is accurately assessed, effectively creating a secure decentralized credit system for lenders and borrowers.
Distributed Credit Chain has an impressive list of serious blockbuster investors. Among them: Nirvana Capital; AlphaCoin Found; Transferense Fund; LD Capital; Ceyuan Digital Assets; Starp; Crypto Vision; Whales Capital; DFO; Evolotion; Fusion Capital; StarWin Capital; Gvc.pe; BA Capital; Consensus Lab; TFUND and other large investors.
Conclusion. Problems in the financial sphere today are very acute. I believe that the Distributed Credit Chain project will bring really good changes to our world. The team has excellent solutions and opportunities for their implementation. Distributed Credit Chain is one of the most attractive projects for investment.
With all the subtleties of the project Distributed Credit Chain, you can read through the links at the end of my article.
Thank you for attention
Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
Website: http://dcc.finance/
Twitter: https://twitter.com/DccOfficial2018
Author: Cristina ngocok
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