Decentralized Credit Chain – Empower Credit, Enable Finance

The world as we know, is run entirely through finance. At every point in time, goods and services are exchanged for agree values – which could be monetary or assets. Finance can be likened to the grinding gears of economic development. It is the springboard that launches startups, companies and every other industry.

The history of finance is closely tied to that of human existence. People have always have needs and these needs are satisfied through exchange of values. Those with surpluses exchange money for goods and services, and in turn the recipients also exchange money gotten for their own needs as well. It’s an unending circle.

In every economy – developed or undeveloped, there is always a central body that manages the cashflow in that economy and regulates its availability. These finance institutions also provide services such as loans, credit, mortgages and so on. The interest rates associated with these services are entirely at their own discretion. The inflexibility at which these financial institutions dictate equity proffers zero chance for competition and hence enjoy the benefit of a monopolistic system.

The backlash to this system is that only the well-to-dos enjoy these privileges. Hence the infamous adage that ‘The rich gets richer, and the poor gets poorer’. Startup companies with bright ideas may not capitalize on such wonderful opportunities like loans because of the high interest overheads that may nip the bud off their investments even before it sees daylight, thereby causing debt accumulation that could run into thousands and even millions of dollars. There’s been attempt to overthrow these financial institution, but they are being rooted deep with the Government that leveling the playground will become an almost impossible task.

With the rapid development of ICT technology and most notably, Blockchain technology, the way we see finance has been revolutionized. Making what used to be a herculean task such as acquiring loans, assets, mortgages and so on become an entirely easy process, thanks to the world’s first entirely distributed public blockchain – The Distributed Credit Chain (DCC).

WHAT IS DCC?
Let me start with this anecdote – Few years back, acquiring a loan from any financial institution will require bureaucratic legal processes, assessment of collateral to ensure it qualifies for the loan, and very high interest rates that discourage almost 90% of borrowers. But with the DCC, acquiring loans is as easy as reading this article. Powered by the defying blockchain technology, DCC does not only tend to improve on credit financing, but the overall improvement of the technology itself.

THE DCC SOLUTION
• Truly Decentralized – The borrower’s option is no longer limited to a hand few of finance institution, but from the multitude of debtors available on the network. Giving the healthy competition, pricing power will rest within the market
• Accessibility – Without the overhead protocols involved in acquiring loans form financial institutions - thanks to the DCC, users now has access to loans in minutes following DCC ecosystem model from borrowers to lenders.
• On-chain regulation – Given that every data is stored on the blockchain and due to its highly decentralized and immutable nature, essential regulatory bodies will handle the associated industry risks more efficiently.
• Secured – Owing to the fact that in the verification process, the data that is being verified is passed exclusively to individuals and data agencies. The algorithm used on the chain is irreversible, and therefore there is zero risk of data decoding on the chain.

WHERE IS DCC APPLICABLE?
DCC as a financial solution can be applied in but not limited to these areas:
• Consumption loans
• ABS Asset distribution
• Loan registration service
• Consumption installment
• Blockchain credit card
• Mortgage claim registration
• Token loan service

MEET THE TEAM

Visit website for the full team list https://dcc.finance/

USEFUL LINKS
Follow DCC onsocial media to stay up to date on information and promotions
Website - https://dcc.finance/
Telegram - https://t.me/DccOfficial
Facebook - https://www.facebook.com/Distributed-Credit-Chain-425721787866299/
Medium - https://medium.com/@dcc.finance2018
Reddit - https://www.reddit.com/r/dccofficial/
Twitter- https://twitter.com/DccOfficial2018/
The DCC Github Project - https://github.com/DistributedBanking/DCC