Distributed Credit Chain (DCC) - an open, decentralized, credit platform
Distributed Credit Chain (DCC) is an open, decentralized, credit platform.
The consumer credit market is undergoing changes. And in this there is nothing unusual. So it was already, and not once.
Economics in any era could not exist without the participation of loan capital (lending).
The main industries are built on credit relations.
The concept of "mortgage" is familiar to mankind since the days of Ancient Greece. The ruler of Athens, Solon (6th century BC), carried out the reform and replaced the borrower's personal responsibility for the property, in the form of a land plot on which the pillar (mortgage) was put, where they indicated everything about the borrower, the amount of the pledge and the repayment period. Since then, this word means real estate.
Then the posts were replaced by mortgage books. Especially the Romans tried to develop the mortgage business. An interesting fact, in ancient Rome, mortgage deals are often densely accompanied by all sorts of frauds, since the principle of publicity was not respected.
In the 2nd century BC during the reign of Antony Pius, a law was passed for mortgage banks. Already in those days there were 50 banks and 800 usurious organizations.
German law changed the form of the "Roman" mortgage, adding publicity and introducing mortgage books.
Since the end of the 17th century, special legislation has already been introduced that regulated the rights to real estate.
Loans for real estate at first provided only private traders, then bankers and banking houses.
Thus, in England in the 18th century, this type of activity involved a whole group of Westend banks. In Bavaria - the Bavarian Mortgage Bank. And in France, the mortgage was managed by the bank "Land Credit".
Currently there are two credit systems: one-level and two-tier. Each country chooses the most convenient for it.
So, in this form, the mortgage came to us through the Middle Ages, the times of slaveholders and feudal lords.
I wonder how the mortgage will change in ten years ..
The Bureau of Credit Histories Ekvifax conducted a study, and the forecasts are as follows: by 2027 the number of future borrowers aged 25-34 will significantly decrease, by 43%, as a result of the demographic processes that we observed at the end of the 20th and beginning of the 21st century.
According to the forecast, there will be a decrease in the number of borrowers of pre-retirement age and the number of people in the "gold" group for banks of age, by 19%.
Also, the Bureau "Equifax" predicts a significant decrease in deposits in mortgages by 17%. People in the future will be interested in not expensive car mortgage loans, but short credit programs.
And with all this, banking institutions will soon collide.
Modern banks will have to rely on new borrowers with their new desires and needs.
Modern technologies are increasingly being introduced into all spheres of our life, including the banking sector.
Already today, thanks to the new digital technologies of Blockchain, the financial business has an opportunity to carry out a better and cheaper audit of future customers, to receive data online, which significantly reduces the time spent and optimizes the staff.
Banks today are still constrained in their actions by the existing business model, the need for strict regulation and therefore can not quickly adapt.
New modern technologies allow remote offering of high-quality financial services to customers, thanks to the automation of customer search, the introduction of electronic document management, the automation of the issuance and return of loans. This all eliminates the need for the borrower to physically contact the bank's employees and reduces the number of intermediaries, which ultimately reduces the costs of conducting financial transactions.
Online lending is already going by leaps and bounds in all of the world's largest financial markets. In the first place is, of course, China, then the US and Europe.
The market of online lending continues to grow from year to year.
According to forecasts on the prospect of further development of online lending in the UK banking system, by 2025 growth from 15 to 40% is expected.
Therefore, for successful work, banks today need to look for new ways, new business models, the introduction of innovative technologies, to enter into partnerships with companies working in the field of online lending.
Distributed Banking will completely transform and offer new models of cooperation in the financial sphere and will increase the efficiency of the financial business.
Distributed Credit Chain (DCC) offers on its platform to combine the experience and knowledge of mortgage business professionals with the latest
Blockchain technologies .
Distributed Credit Chain (DCC) is launching a distributed credit chain on its platform, DCC aims to establish business standards.
The project positions equal cooperation between the borrower and the creditor on an open and independent basis.
The DCC ecosystem is an efficient, inexpensive, credit-based business system.
DCC provides a loan registration service for C2C loans, loans between the borrower and the lender in the offline mode, as well as loans where the borrower pre-applies for a loan.
Distributed Credit Chain provides its platform for processing consumer loans used for education, housing, cars, etc., where it will be possible for the bank to assess the credit status of the borrower through a decentralized arrangement of credit data, assess all its risks and only then make a decision about the loan.
DCC offers users a credit card, thanks to which, based on the DCC contract, any financial institution or individual can issue a loan.
DCC has created a system of distributed credit reporting in the field of lending to digital assets, thus contributing to the expansion of this market. Users with different digital assets (BTC, ETH) can reinvest them through a credit card.
All loan agreements concluded on the DCC site are decentralized, protected from unauthorized access and connected to a decentralized credit reporting system.
DCC will greatly facilitate the work of credit agencies in many countries and suggests making DCK token a well-known currency.
DCCID accounting system (wallet) will use a mechanism identical to ETHEREUM and will consist of a secret key, public key and address. The algorithm of the "elliptical curve" used is the safest and takes up little space.
A lot of useful and interesting information about the Distributed Credit Chain you can find here .
Useful links
Website: http://dcc.finance
Telegram: https://t.me/DccOfficial
Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
Facebook: https://www.facebook.com/DccOfficial2018/
Twitter: https://twitter.com/DccOfficial2018/
ANN: https://bitcointalk.org/index.php?topic=3209215.0
Writer: honpaulo
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