Distributed Credit Chain and Distributed Banking – changing the face of traditional financial institutions through blockchain technology.

Currently, the global market is based on traditional, Fiat-based financial institutions, those of the like that have been around for many years and are often steeped in centralized technology. The Financial institutions that currently run the global marketplace have a monopoly on the way in which transactions occur, with raised lending rates and exchange rates, and increased transaction fees costing all who use these a lot of money. The way in which the current financial market operates really only supports the financial institutions that have this monopoly, and doesn’t benefit the borrower or lender.

The Distributed Credit Chain is looking to change all of this, through the use of decentralized blockchain technology. The platform already has reliant early investments from companies such as JRR Capital, a professional investor and entrepreneur company, and BTX Capital, a global crypto find. Having this investment already in place lends itself nicely to the idea that the Distributed Credit Chain platform is an excellent investment proposal. The Platform also has some big-name partnerships, including TONGNIU Tech, JUZIX and Deepfin amongst others. The platform aims to act in the way of a credit agency, and solve some core issues experienced by traditional centralized credit agencies- those of Cost, Efficiency and Profiteering.

The platform has cleverly utilised a wallet mechanism which is identical in appearance to that of Ethereum, using the ‘elliptic curve algorithm’ to create and generate private vs public keys. This added level of security ensures that the transaction process from both sides is covered by the highest level of data protection offered from blockchain technology. By including what the platform calls its DCCmarket contract, it will mean that the costs expended by credit institution and individuals alike will be subject to paying this cost. However, due to the decentralized nature of these, the cost to all will be significantly and greatly reduced. By distribution and transacting the data through the blockchain based technology, the need for the third-party brokerage is eliminated, reaping benefits for all who are using the technology.

The ecosystem that the platform creates will allow for all providers and users alike to be able to partake in what can only be called ‘truly exclusive finance’ The smart contract feature of blockchain technology will mean that the data and information provided and shred will be safe from hacking and tampering, increasing profit and reliability and trust in all of the financial forum. The DCC blockchain tools to reconstruct the entire financial hive mind through it's decentralized and transparent nature. The DCC platform readily admits that within the emergence of ‘BIG DATA’, there has been a huge growth I the market share in the financial sector taken on in the wake of this big data market flood. Centralized methods are open to fraud, hacking and tampering, and the ‘BIG DATA’ suffers because of that, becoming ineffective, worthless and untrustworthy. The way in which the current credit situation is, it is also favourable to the lenders, and indeed the bug companies who have the monopoly on the whole system. The DCC platform wants to change the whole system, through the algorithm of the blockchain.

Improving the way in which data is shared will lonely always result in efficiency for companies and increased cost benefits. Single-handedly, the platform will be able to increase the value of decentralized blockchain technology to the companies using it, eliminate the monopoly that traditional centralized financial institutions g=have, protect borrowers and lenders privacy, thanks to the encrypted smart contract nature of blockchain technology, also eliminating the monopoly that such institutions have in the distribution and sharing of data, and of course – create a valuable and trustworthy Data marketplace.

Solving the Centralized Credit Problem is a very worthy cause, and Distributed Credit Chain does this succinctly and in a viable manner. The digital signature technology that they offer at every step of any data exchange partaken on the platform is extremely foolproof and secure, offering the user of the technology the reassurance that there is no repudiation of their individual chain, or indeed any institution-chain data interaction. It is extremely exciting to see such a coherent and a cohesive use of blockchain technology in this platform, and the way in which the platform has run itself through predictive model applications is extraordinarily reassuring to see.

Dcc has the ability to provide what they term as DCDMF protocols, Distributed Credit Data Management Framework, it simply is an open source personal credit data management framework, allowing borrowers to improve their data, increasing credit ratings, making them more appealing to lenders and borrowers. The wallet form the DCC protocol supports this further and increases the reassurance experienced by either side of the lending/borrowing scale. The inclusion of the DIV protocol, Distributed Identity Verification will also mean that all individuals have complete ownership of their data – something which is severely lacking in today's current centralized fiat-based financial institutions.

The whole premise of this exciting new platform is the emphasis on the importance of decentralization, and how valid it is to the financial market. A decentralized peer-to-peer verification system also increases the security one can feel when using this excellent protocol. The whole platform will alter the way in which the personal credit system is viewed and maintained, and will be able to integrate huge amounts of the valuable ‘BIG DATA’ that exists in the marketplace. The whole system flows incredibly smoothly and works extremely transparently to ensure that any and everyone borrows request, credit inquiry and the like is able to be processed in real-time and extremely securely and accurately. The addition of an MPC platform with universities and colleges in China also helps to integrate and calculate the data that is generated through the DCC ecosystem, assisting the way in which data protection operates and exists and lowers the risks of data abuse.

Any system that offers tamper-proof identity systems, low-cost credit business systems, safe and secure Data storage, asset security and a liberalized interest rate formation protocol is incredibly worthwhile and one to watch. The way in which this platform operates is incredible, smashing through the barriers set up by traditional, centralized fist based financial institutions. A coherent, cohesive universal credit platform has long been needed, and the Decentralized Credit Chain platform is exactly what we have been waiting for.

WEBSITE: http://dcc.finance
TELEGRAM: https://t.me/DccOfficial
WHITEPAPER: http://dcc.finance/file/DCCwhitepaper.pdf
FACEBOOK: https://www.facebook.com/DccOfficial2018/
MEDIUM: https://medium.com/@dcc.finance2018
TWITTER: https://twitter.com/DccOfficial2018/
ANN THREAD: https://bitcointalk.org/index.php?topic=3209215.0
Article was written by frankiemalton
Bitcointalk username:frankiemalton
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