DISTRIBUTED CREDIT CHAIN: the financial blockchain services

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This is a financial blockchain ecosystem ,it has the highest internet speed ,increased digitization all over the world and it uses blockchain technology. This platform has a vision to use the blockchain technology in credit reporting,debt registration,wealth management and also assist transactions.

The reason why they want to make use of the blockchain is because it will enable participants from all over the globe to be able to provide financial services in a seamless manner.

With the help of the blockchain technology and also the team members that is behind the platform ,they hope it will lead to the emergence of distributed banking virtual agency.

THE AIM OF THE DCC PLATFORM

The main aim of this interesting and awesome platform is to break the monopoly that is been enjoyed by the traditional banks. This platform is going to serve as a new type of banking system that will be able to reward everybody that participates in the ultimate growth of the platform.

So basically through this way they will be incentivized and help grow the ecosystem. So the end goal is simply the creation of an inclusive financial system through the use of decentralization,this digital banking model will change the corporation model that is used by the current financial institutions.

This platform will have peer to peer model of business that will be able to give anyone from any region the opportunity to participant in the business model and the platform will also change the numerous ways we debt,asset and intermediary business structures.

This numerous liability in the business structure is going to be replaced by the distributed wealth management in terms of the tree-like management structure that is currently utilized by traditional banking department will also be evolved.

The blockchain technology will handle the regulations and also storing of records inside the system and this means that they cannot be change.

This options will enable any available regulator to look at the underlying assets in real time and also determine what really is going on and also by utilizing the big data analysis organizations, the regulations will be able to see the industries that are at risks in good time and also respond.

THE CURRENT FINANCIAL SYSTEM

The financial industry can be traced back since the dawn of man, without the financial industry the progress of human civilization would not have been possible.

Way back the 18th century ,most loans were contract loans and all of them relied in collateral and it was until 19th century that a new ear of loans came out and this new era lead to tjje development of a centralized loan institutions.

Most importantly ,with the recent development of the internet ,the financial system is been controlled by a big data analysis and this is because the current financial system has flaws. The major cause of this flaws is because it is been managed by some fragmented parties and each have their own centralized systems.

THE DACC PLATFORM

The platform consist of the following component account system that is the wallet,smart contracts,platform based applications,open platform for exchange of information and other components that is less important.

The decentralized platform based applications which is also known as (Dapp) is used for application development from credit companies.

The account system which is the wallet is used for transactions such as mortgage leading when it comes to this component security is very important,so the generation of passwords is based on fairly complex scheme.

The smart contract is the backbone of the network because it allows the interaction between its participants in terms of financial transactions.

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