DISTRIBUTED CREDIT CHAIN (DCC) : REVIEW

ABSTRACT

Distributed Credit Chain (DCC) is a platform/ecosystem backed by blockchain technology (decentralized system) designed to disrupt and change the traditional model of banking of giving out financial services, loans and credit services to Individuals (which has been reserved for a selected few and the government officials and inaccessible to the majority). It hopes to employ a Peer-to-peer model of operation devoid of race, religion and sects discrimination making funds readily accessible for all. The Distributed Credit Chain framework also aims to join all members of budgetary administrations around the globe by providing them credits blockchain innovations and Information.

As at the time of this Review, Business, Firms, Cooperative societies and financial institutions run a centralized system of banking and has gotten this monopoly of information and hidden “unwritten” Information they keep silent while giving out loans and credit services leaving the borrowers in the dark with increased interest rate, unnecessary high cost and plenty of paper work to be done. Distributed Credit Chain hopes to break this monopoly and operate a fair and transparent system.

HOW DISTRIBUTED CREDIT CHAIN (DCC) FUNCTIONS

Distributed Credit Chain is known to be the World’s first public banking system backed by blockchain technology. It is aimed at solving the problems of the traditional financial management being operated by banks, financial houses and Governments as a whole. It is also aimed at returning the use of Data and finance tools to the “commoner” by providing credit through a decentralized Blockchain platform. Furthermore, it hopes to change the model of collaboration that exist amongst traditional financial institutions and then make provision for an entire new model of communication with all those involved using the decentralized method.

To make Distributed Credit Chain effective and efficient in their plan work, they hope to functions in the following ways;

• Interests rate is flexible and can be tweaked to suit all parties involved, this is achieved by allowing the borrower decide the amount of money he/she can afford and the credit agencies then go ahead to attend to the borrower according to the borrower’s application. Fair enough if you ask me.

• It also functions by providing a cross – border and cross – currency credit services of numerous digital assets to people of different country and race. This will be about integration of different countries and facilitate the growth of multinational businesses of Lending services globally even at a more affordable rate.

• Distributed Credit Chain will be making available a Credit pool that will form the total reward pool with fixed incentives by collecting a portion of an expected loan from the borrower.

Also, worthy of note is that Distributed Credit Chain will be setting up business guidelines, accomplish accord on books, convey business contracts, execute liquidation and settlement administrations etc for different dispersed money related exchanges.

TOKEN AND ICO INFORMATION
The DCC token is the native currency and Token of the Distributed Credit Chain platform. It is the medium of all transactions on the platform. It is built on Ethereum platform of the blockchain technology and ERC20 compliant. It is a utility token and tradeable across exchanges all over.
During the token generation event, The Cyber Sheng Foundation intends to issue an aggregate of 10,000,000,000 tokens of the encoded computerized money DCC to be available for sale.
During the private round of sale, only celebrated qualified financial specialists in the fields of credit and saving money will be welcomed for the speculation, with the gathering pledges rate close to 18%, and with minimum of 100ETH worth. At this time only 25% of the total DCC will be made available before sale and another 25% later in the year.
While during the ICO sale, only 200,000,000 DCCs will be issued to Non-Chinese and American financial specialists. All these will be specifically flowed.

Token Symbol : DCC

Token Standard: ERC-20

Type: Utility token

Token Price: 1 DCC = $0.05

Platform: Ethereum (ETH)

Accepted currencies: BNB and ETH

Hard cap: 36,500 ETH

Soft cap: 14,500 ETH

ICO start: 28th May 2018

ICO send: 28th June 2018

Total Supply:10,000,000,000 DCC

Restricted Areas: USA & China

For More Information

Website: http://dcc.finance/

Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf

Twitter: https://twitter.com/DccOfficial2018/

Facebook: https://www.facebook.com/Distributed-Credit-Chain-425721787866299/

Telegram: https://t.me/DccOfficial

Medium: https://medium.com/@dcc.finance2018

Reddit: https://www.reddit.com/r/dccofficial/

Github: https://github.com/DistributedBanking/DCC

Bitcointalk Bounty Thread: https://bitcointalk.org/index.php?topic=4185316.0

Reviewed by: Joygalzz1

Bitcointalk profile url: https://bitcointalk.org/index.php?action=profile;u=1984580