Distributed Credit Chain (DCC) | Review
Distributed Credit Chain, abbreviated as DCC, is currently the only blockchain, which supports the distributed banking in order to create a complete system for convenient provision and receipt of financial services.
The main goal of DCC is to transform completely the financial scenarios, for example, to provide users with loans based on the blockchain.
Basics
The distribution of digital technologies, the acceleration of data transmission speed, the accumulation of distributed computing resources and cryptography are considered to be the factors that help to understand that blockchain, decentralization and confidentiality will very soon be at the forefront.
The public chain DCC will be used for distributed type of credit reporting, debt registration as well as asset management. This will allow users of all over the world to provide all financial services conveniently. In other words, «distributed banking» is formed and it is radically different from the traditional one.
The basic concept is to break the monopolies of habitual financial organizations and to create an incentive system in which each participant will be rewarded for his/her contribution to the system.
Advantages of a decentralized banking system
What positive aspects will be brought to society by the distributed financial system:
Elimination of monopolies and speculation. Everyone can choose a borrower. In a decentralized market, the power will be based not on intermediaries, but on the market in general. And all participants will profit, helping to make calculations on the blockchain.
Reasonable protection of confidentiality. Personal data should not be stored for a long time in any institution. It is much safer to organize local or encrypted storage in the cloud, which will be accessed through convenient local addressing.
Lack of data centralization. Blockchain allows individuals to own and to use their data, and also prevents leakage or misuse.
Te increasing of the efficiency of data verification and reducing the cost of using them. Due to secure automation, organizations do not need to ask repeatedly the consumers for their personal information in order to use it.
Creating a «market data space». A standardized data market will help to create brands and niches of high value with the ability to process large amounts of information.
Risk control through AI. The blockchain contains the algorithms for smart defenses against fraud and the system of in-depth training work. It allows financial institutions to form a truly effective risk control.
In addition, the distributed banking will support the function of feedback and credit history so that the parties can be confident in each other.
The economic model of the ecosystem
DCC tokens are used to pay for work in a distributed network. Any work that goes to the network benefit must be paid for. The balance is managed through the DCC contract token to maintain a total fixed amount.
As the financial services system grows, certain business scenarios are increasingly introduced, and as a result the liquidity increases significantly. Payment for DCC is based on the DCCpayment contract, which is responsible for the correct payment with the participation of several payers.
Project links:
Website: https://dcc.finance
White Paper: https://dcc.finance/file/DCCwhitepaper.pdf
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/
GitHub: https://github.com/DistributedBanking/DCC
ETH: 0xc656ce68D311ab51fBa74d3Fe3f106B14B5f07FD
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When I first got acquainted with this project for me it was, as often happens with new ICO projects, an incomprehensible set of words, but now having spent several hours studying this project, my opinion-the project is definitely worth knowing about it!
I liked the fact that this project will eliminate the monopoly of the banking system when it is necessary to get a loan
I'm just starting to run my business. For me, the DSS project is beneficial in that all credit operations will be transparent.
DSC system I really liked .For its transparency and openness,the economic model of the ecosystem allows financial institutions to form a truly effective control over risks.
Everything is written beautifully, let's see how the team will cope with the tasks. Thanks for the review
In my opinion this project looks promising. I hope it will be successful in the future!
It looks like a special project with promising potential. It will be very interesting let's guys contribute in this great ico. Make all your dreams come true with this ico.
The super team must bring the idea to a high level.
It's time to make the transition. The old system has already outlived itself and has a number of serious shortcomings, such as centralization and monopolization.