DISTRIBUTED CREDIT CHAIN - Paving Ways for Quality Financial Services

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DCC (Reduction from Distributed Credit Chain) is a unique project, the main direction of which is the development of the financial and financial industry in general. This is a very popular solution, as a large number of modern companies experience certain inconveniences and problems. Financial structures that are centralized have a huge number of shortcomings. The most striking example is the need for approval from the state financial institutions, which entail considerable expenditure on the payment of costs and commissions.

The DCC Finance platform will allow users to decide for themselves what data should be provided for public disclosure, and what data will remain private. Users will decide who and what data to provide. In other words, in the DCC Finance ecosystem, users own their data, which will significantly weaken the monopoly of large banks. The DCC Finance project consists of several working together mechanisms: a distributed structure that will manage credit data, a system for identifying personal user data, a system for general data verification, a credit reporting mechanism, and a credit assessment model. All this will create a holistic and functioning ecosystem of DCC Finance - a distributed credit system.

The DCC platform provides a medium which eliminates substandard credit services provided by centralized banking systems, through its systematic way of bringing both the credit borrowers and lenders together on its platform.

The DCC advocates for a much more efficient financial ecosystem. One that replaces the major banks monopoly over banking with an array of equivalent options available by smaller financial vendors. This model empowers the individual participant(s) by having more control over their credit data.

Distributed Credit Chain plans on creating a lot of implementations to solve the problems above. A user account identification system will be created in order to save the information about real-world attributes, loan request, loans, repayments, and bank cards held. DCC allows you to further develop the economic infrastructure, focused on the relationship of suppliers with borrowers. Along the way, the entire economy is developing, because thanks to the integration of the site, it is possible to add convenience and benefit to the work, in comparison with centralized companies. The platform can be quite in demand, because due to smart contracts, all user data is stored unchanged, and thanks to the blockbuster it is possible to maintain the transparency of the entire process of interaction.

TOKEN ANALYSIS

The DCC platform tokens are based on the Ethereum blockchain system and are basically compatible with the ERC-20 standard. They are designed to pay for access to data and credit reports. Financial companies use tokens to pay for the verification of customer's data. The size of payment is set by borrowers themselves, and credit organizations can set a minimum threshold and regulate applications' priority.

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