Empowering Credit Systems with a Public Blockchain - Distributed Credit Chain (DCC)

prasannpr143 (51)in #banking • 6 years ago

After reading and understanding about DCC, I decided to write and express some of my opinions in my blog space, Here. According to my opinion banks are the most impolite Financial Institution I have dealt with. Everyone loves the outfit and showoffs of banks until they borrowed a loan.

I remember the day, which I create my credit card from a famous local bank. More than 2 hours of my precious working time was wasted due to the outdated dragging procedures in the KYC process and in other transaction processes. But this much of heavily technological developed era, It was just bad and impolite for any customer. In the other way, credit levels offering from the bank is so limited for most of the bank users. It will take years of time to increase this credit levels to a certain level, but I can clearly say that level will not even be doubled from the initial value.

Just as I do, I think many people have very bad expressions about current traditional financial institutions and their outdated systematic procedures. If you are or not you can clearly identify Distributed Credit Chain (DCC) as the savior of the humiliated clients of the existing crediting system.

Foundation of the DCC is a distributed public blockchain. Unique qualities of blockchain technology like seamless coverage, trustless transactions, efficient performances will enhance the disrupt create by the DCC.

DCC will change the crediting systems from highly centralized state to a decentralized status, this will deactivate the monopoly owns by them over the clients. Due to the ability to have numerous debtors in a decentralized system, borrowers will be able to choose a debtor on their demand. Rates of the debts and borrowings will rigidly not affected by third-party interactions.

DCC owns a Distributed Credit Data Management Framework. Simply DCC adopt a Distributed Identity Verification process, where their own personal data will be handled by themselves. Peer-to-peer verification facility is enabled on the DCC with individual to individual or individual to institutions. so they can deal with their data and credits without any intermediate trusted party. That will reduce the costs like banking fees, verification charges etc. In another way, this system can be an effective source of credit data in any kind of business scenario.

DCC direct the world to become seamless among the humankind, where trust and understanding magically immerge beyond all regions, sectors, subjects, and accounts. The proof will be the fact that DCC ICO has raised it's full hard-cap easily. You can participate with DCC to change the world.

Here are the links for more information,

Website: http://dcc.finance

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

Telegram: https://t.me/DccOfficial

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

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

Bounty: https://bitcointalk.org/index.php?topic=4185316.0