Currently, the financial sector is highly centralized, that is, any financial transaction is done through the aid of a middle man who in turn charges a commission for their services. This centralization issue is just one of the many issues plaguing the financial sector and it's customers.
The Credit industry which is also a part of the financial sector and is in charge of issuing out loans also suffers such problems, the borrowers, loaners and lenders inclusive.
Some of these problems are;
EFFICIENCY:A credit agency have to verify the credit of a borrower before the loan can be given, this verification is done to make sure that the borrower meets up with the agencies risk criteria. In some cases, some borrowers do not often meet up to this criteria and this results to waste of resources and decreased efficiency on the agency.MAKING PROFIT:Some credit agencies tend to deviate from their primary aim of serving their customers and instead they deduct lenders while squeezing borrowers for more profit and expanding their customer base.COST:The essential model of a credit agency is to distribute the worth of elements that don't earn any interest and bad debts by charging the "good guys" who van easily pay back the money which brings about extra cost for borrowers.
The above listed problems are only few of the problems plaguing credit agencies globally.
What is Distributed Credit Chain (DCC)?
DCC is a decentralized blockchain based ecosystem for credit agencies all over the world. By backing up credit with the Blockchain Technology and it being decentralized, all of the problems plaguing financial service providers and it's customers will be eliminated. This decentralized system will change the cooperation model in current finance services, creating a peer to peer model of cooperation across the finance sector and due to DCC being a blockchain based platform it will benefit the following users;
BORROWERS:All borrowing request will be done on their already established blockchain account so as to initiate borrowing petition and authorize data service providers.DATA SERVICE PROVIDERS:The merging and storing of a person's data will now easily be done on the blockchain which will offer even better security.
DCC also aims to breach the monopoly of current finance institutes and give back earnings from financial services to consumers so that they too may share the returns from ecological growth. DCC banking will truly revolutionize the finance sector because if applied to financial areas, it will definitely transform business structure and the evolvement of a decentralized bank will be established.
DCC also aims to bring many features into the distribution ecosystem among which is a Decentralized App (DApp) and it has already been launched and currently in use while other features such as;- The Blockchain Credit Card
- ABS Asset Distribution and many more are to be launched soon.
DCC TOKEN
This is an Ethereum [Erc20] based utility and security token. This token will be the internal cryptocurrency of the DCC platform which will be used to pay for jobs/services done within DCC ecosystem. The increased use of this token will boost DCC ecosystem and the token itself will have more liquidity on it's holders. DCC token will greatly reduce verification costs and total cost of the borrower.
The token sale is currently live and it will help in funding the adoption and development of DCC platform.
The token's total supply is 10,000,000,000 DCC tokens.
Token Distribution
For further research, click on the links below;
Website: http://dcc.finance/
Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
Facebook: https://www.facebook.com/DccOfficial2018/
Telegram: https://t.me/DccOfficial
WRITER'S INFO
Name: thaddaeus
Bitcointalk username: beneze
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2190968;sa=summary