An insight into DCC : Distributed Credit on The Blockchain
DCC has a new concept that is going to disrupt the traditional banking system : a distributed banking system that uses smart contracts, new business standards and a variety of distributed financial business.
The establishment of this new concept will be time consuming, it will take years to implement the solution but the result will really benefit the community involved.
The first step will be to conduct credit business on DCC,and reconstruct the business ecosystem of traditional credit through decentralized thinking and distributed technology.
WHY DISTRIBUTED CREDIT CHAIN ?
Hunny Kaushal made a simple video about DCC on Youtube; it is an animated video quite interactive and funny.
The dilemma with credits from traditionnal business are :
COST : Huge additional costs for borrowers which charge the "good guys" who can pay back the money.
EFFICIENCY : Significant amounts of time and energy are wasted in verifying the credit of borrowers, which leads to resources waste and drastic decrease in efficiency.
BORROWER INTEREST : Time consuming process to determine credit worthiness.
JOINT DEBT : Unbalanced level of credit reporting.
PROFITEERING : A centralised credit model.
The advantages of DCC is the use of decentralisation to eliminate monopoly and profiteering, protecting privacy reasonably, eliminating data monopolies, improving data validation, reducing costs, create a Datamarketplace, AI risk control. Distributed Credit Chain applies the above solutions with Blockchain technology in real business scenarios, and develop a new super credit ecosystem that benefits the world.
This article only highlight what DCC is going to achieve over the few years. All the aspects have been carefully detailed in the whitepaper.
According to the website, the crowdsale has ended and from Hunny's video, the ICO sold out in 20 minutes. Again, that's a sign that the project is very promising.
The team is made of business entrepreneurs, professors, corporates who are reputed and have already significantly contributed to the ecosystem.
I wrote this article to contribute to the promotion fo this project.
By the way, regulars folks will be able to play around the platform and see what it's all about. STAY TUNED ! :)
Useful Links:
Website : http://dcc.finance/
Whitepaper : http://dcc.finance/file/DCCwhitepaper...
Platform : http://open.dcc.finance/
Telegram : https://t.me/dcc_official2
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