Distributed Credit Chain is the pioneering distributed banking system for public blockchain establishing a decentralized ecosystem for financial service providers across the world. The ecosystem of DCC associates with the lenders and borrowers depending on the original relationship by the decisions making through the participation in the ecosystem.

Participants to DCC Ecosystem

The independent bilateral cooperative model is being reduced greatly by the complexity of the system. These are interconnected and made the system go easy for the credit technology system to be deployed rapidly.

The service is provided as the standardized modules for the credit services according to the credit standard system as it is deployed rapidly. There is no set of barriers to the access based on the openness for the participants of the ecosystem. So far it has reached to the intention of the cooperation regarding several basic services related to the fields with some outstanding services providers in the world.

Advantages

The DCC ecosystem is confined with several advantages which are related to:

• The uniqueness and tamper-proof identity system.

• The credit reporting system does not enable the data island or data monopoly.

• Being efficient and needs to have a low-cost credit business system.

• The system has cross-entity with the permanent data storage for the shared creditors along with the rights to record.

• It ensures the asset securitization with excellence for the asset liquidity.

• The liberalization process effects on the interest rate for the information mechanism

Issues

The traditional financial industry is centralized and the financial transactions are relying heavily on the endorsement by the support of larger financial institutions. This substance the transaction fees to be paid for the institutions. The monopolistic financial institutions are facing the issues with the lending rates for borrowers and it reduces the interest income for the lenders like:

• Cost: It is the core model for a credit agency and they are sharing the costs to the nation interest-earning by the elements and bad debts are charged for the good guys as they can pay back the money and the borrowers can bring it through the additional cost.

• Efficiency: According to the credit agencies, it requires time and efforts as it can be wasted during the verification process for the borrowers and unless they meet with the agencies of the risk criteria. It may lead to the waste for the resources and decrease the efficiency.

• Profiteering: Being a centralized credit model, it entices the financial institutions to deviate from the primary purposes to serve the customers with an aim of profit deducting the lenders. This may need the borrowers to expand the profits based on the customers.

Solutions

DCC also has solutions for all the issues arise to set up the organization. The borrowers can have the individuals for specific demands establishing the blockchain account by the authorization for the data service provider initiated by the borrowing request.

The data service provider integrates the data through the chain ensuring standards. The algorithms and computation service providers should extract characteristics being judgmental on policies. The credit history feedback approves the generated blockchains preventing long-term borrowing problems. The funding providers without any direct involvement for lending and the risk assumption institutions will operate a credit business through earning specific risks, managing loans in progress and collecting loans.DCC is empowering credit of blockchain technology with the mission of transforming different financial scenarios realizing finance.

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