The modern sphere of financial services has reached a high level in it's development. The need to save money for the purpose of buying an expensive product has disappeared for a long time. Nowadays you can get what you want right away, and pay off later. But customers of traditional banks often encounter bureaucratic difficulties, a long waiting period for approving a loan, an endless list of requested papers, checked by the banking security service and authorized employees. And the more money you need to borrow, the more problems arise in the way of getting them. Employees of credit institutions, for their part, try to avoid contracts with unreliable borrowers, the number of which is constantly growing. Doing a lot of actions, banks lose resources, replenishing them at the expense of customers, often raising lending rates.

To create any structure, you need a very solid foundation. The economy of the country effectively works on solid bases. But the truth of the main foundation in the form of banking institutions has become clear in recent decades, when they, at their global scale, failed to provide quality basic banking services to the world's population. Developing countries are at the most vulnerable stage when millions of people still do not have bank accounts and lose the opportunity to obtain basic banking services.
The total population in countries such as the Philippines, Africa, Indonesia, and Peru, which still can not normally use banking and financial services, is staggering. But, in order to create an equal society, where all have equal opportunities, this indicator must be reduced. The financial ecosystem must be changed for a new system and capabilities. And here it's very handy, the talented developers are presenting the project DCC (Distributed Credit Chain), which is very effective to cope with these problems.

• Absence of reliable methods of confirming the solvency of a probable borrower.
• A large number of cases where the client does not fulfill the obligations undertaken to repay the loan.
• Forced use of the services of so-called collectors, helping to collect debt from an unscrupulous client (not always effective), associated with additional costs.
• Tedious procedure for approving the loan with applications to different organizations for the required bank references.
• Large interest on loans, covering the bank losses incurred by unscrupulous borrowers.

The DCC team proposed an innovative way to provide financial services, which allows to solve these problems with the benefit for each participant.

Distributed Credit Chain is the world's first distributed banking public blockade, aimed at creating a decentralized ecosystem for financial service providers around the world. By providing loans using blockchain technology and returning ownership of data to individuals, DCC is going to transform various financial scenarios and make inclusive finance real. The project starts with a distributed credit chain, surpassing the business ecology of a traditional loan, taking advantage of decentralization and distributed technologies, ensuring openness, accessibility, and rationality of transactions.

In the ecosystem of the project, creditors, borrowers, insurers will appear. In this system, interest rates will be determined transparently in accordance with the balance of demand and supply. Confidentiality of personal data of creditors will be protected. During the initial registration, personal data will be checked, and in the subsequent processes, no bureaucracy will be created. Lenders will be able to determine the requirements for credit financing at their discretion. The best part is that lenders and borrowers meet on a decentralized site under the DCC guarantee, without any intermediaries.

The project is based on the block-infrastructure of the Ethereum. In this regard, the advantages of blocking technology have been adapted to the financial sector. As you know, smart contracts are used in blockchain technology. The infrastructure of this project also includes smart contracts. In this context, therefore, there will be no need for banking institutions as a third party. All transactions will be performed automatically on the DCC platform in accordance with the specified rules. All operations will be recorded on the block of flats to the smallest detail. Thus, the process will become defined in the network of blocking. All transactions will be transparent and open, arbitrary bank calls will no longer be the subject of transactions.

Monopoly on the other side of the current financial sector will be removed from the scene. As you know, the current system is completely a banking monopoly, and you know that eliminating a monopoly means getting rid of banks. This will open the way for competition in the financial sector, and each will receive great benefits. In this connection, the Distributed Credit Chain project is a sign of a revolution that challenges the bank.

DCC token will be used on the DCC platform. These tokens will be used specifically for any commission for a transaction that will be made on the platform. Especially in the case of credit transactions, authentication information will be checked by certificate providers using these tokens.

The project is being developed with the support of Cyber Sheng Foundation Ltd, based in Singapore. Members of the project team have big names in the financial sector. The main participants of the project have experience in the financial sector. And they are especially active in China and the United States.

People trust their financial well-being to the government and banks. It is wrong on many sides that people who want to borrow money are forced to work with banks since they are the only legal entities. People are often subject to high credit rates. I support and follow the project because we will get rid of the banking monopoly thanks to the DCC project, based on the network of the blockbuster. With all the subtleties of the Distributed Credit Chain (DCC) project, you can read through the links below. Thank you for attention!