Distributed Credit Chain [DCC] is a blockchain project that aims to change the financial space using its platform to transform distributed credit reporting, debt registration, wealth management, and asset transactions. Distributed Credit Chain wants to bring back the power of financial services back to the users and away from the traditional banks. With plans to first entering the credit business before expanding into distributed banking, business contracts will be used to settle services and distribute funds accordingly in a safe and secure fashion.
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Visit website for more details: http://dcc.finance/
Distributed Credit Chain has a long list of serious blockchain investors
Currently the credit service market has a myriad of issues that need to be solved; which are mainly caused by the centralization of the organization. Online credit agencies are known for taking advantage of privileged information and are circled around profiting - rather than innovating.
The credit industry only has a few players which make it more of a monopoly and because of the different fee structures in its model, it has been extremely damaging to individuals while highly profitable to the corporations who run it. The main issues with these credit services are - cost, efficiency and borrowers interest
The credit services make their money by charging people extra fees and in non-interest structures such as client training, data, and credit reviews. They do this in order to pay for the bad debt, which is very irrational. The efficiency of these services is also in question since most borrowers don't have knowledge of the requirements. Services for credit reporting reduce the efficiency of service delivery by recommending products to consumers based on their credit score. While credit systems in some countries are often underdeveloped, resulting in higher interests and fees, which in turn, results in more bad debt that cannot be paid off. These people are also often un-aware of how the credit system works, won't be able to establish themselves because the borrower’s interest rates can be confusing to calculate, and the user might be un-aware of their rights.
This system puts people borrowing money in an endless loop - where a majority cannot leave
Distributed Credit Chain is making the solution
Distributed Credit Chain plans on creating a lot of implementations to solve the problems above. A user account identification system will be created in order to save the information about real-world attributes, loan request, loans, repayments, and bank cards held. This information will be held through public-private keys and will use signature technology through the blockchain to ensure that the information does not get exploited.
In the lending portion of the platform, a Submitting Data Validation (SDV) implementation will be created in order to be easily inputted into a user’s risk control system. The chain data that is collected along with the SDV will automatically update the approval of the order and the application will be submitted by the user with their signature that contains the information on real world attributes. The entire lifecycle of a user's transactions are saved and analyzed with each request and so it is accurately assessed, effectively creating a safe and secure decentralized credit system for lenders and borrowers.
It’s no secret that traditional banking is about to make its final bow! Ever since blockchain technology was introduced back in 2008 people are flocking towards a haven based on mathematical principles rather than a “trusted” third party institution that might or might not keep your money safe. So why choose blockchain instead of traditional banking?
The reasons are quite simple, it is significantly less expensive, and transactions are exponentially faster, not to mention the human bias of bank tellers. Fintech companies are coming up with solutions for our everyday lives based on blockchain cutting out any expensive middlemen by streamlining the existing processes.DCC or Distributed Credit Chain is one of these companies.
Distributed Credit Chain: Enabling the Finances of Tomorrow!
DCC aims to become the first publicly distributed banking blockchain that provides financial coverage to countries around the world. With an inclusive approach, DCC will cater to the unbanked, connecting them to the global financial market and promoting prosperity on a worldwide scale. What are some of the services that the DCC platform offers?
Users can register on the platform, and through specific blockchain procedures, they can borrow.
Data Services Source
Users can integrate their data on the DCC platform, create data sets and sell it further.
Computation and Algorithmic Analysis provider
Interested parties can borrow computation power to extract meaningful insights based on data.
Credit History Track and Funding Providers
The platform will feature a comprehensive credit history database and give the opportunity to lend funds.
The New Age of Banking is here to stay!
With its financial products, the DCC platform aims to disrupt the traditional banking monopoly and put the customer back into focus. Blockchain Banking, by many experts around the world, is the way to achieve an inclusive financial system that everyone can participate in. By also employing the decentralised architecture, DCC will facilitate cooperation across vast regions and sectors of interest.
Due to the tamper-proof nature of the transaction records, regulators can check the validity of any transaction in real time, on demand. With the help of Big Data Analytics, companies will be able to asses any upcoming risks or respond in a proactive manner to any market needs.
The DCC platform is currently a self-sustainable endeavour as all work done to improve and adapt the core functionalities are paid in DCC coins. Providing a best-in-class service, DCC expects organic growth in the following period thus substantially increasing the available liquidity on the platform.
AI systems and Deep Learning safeguards your funds
Another innovative feature of the DCC ecosystem is the AI risk management protocol; this anti-fraud algorithm provides scalable safety solutions to the users when it comes to processing personally-identifiable data. Lending eligibility is also run through AI systems providing a more transparent view to the lenders. The benefits of these systems are evident as the overall transaction efficiency increases and the running costs are also slashed significantly.
Additional Investor Information Resources
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