Have you ever wondered why we believe so much in the blockchain technology so much so that we envisage that it will take over the world of technology and change the way we do things?
Well, I will say wonder no more because, on close observation of the technological advancement of the world as we know it today, the things that we term as innovations have these characteristics hut not limited to these though.
Faster internet speed, my personal favorite for obvious reasons.
Accelerating digitization as well as improvement of computer resources among others, these are all essential qualities of the blockchain along with.
Openness, autonomy, privacy, and decentralization amongst others.
Well like they say, it can only get better from here on, hence we come with a financial house on the blockchain that aims to deal with transactions, wealth and asset management and control, credit report as well as debt registrations. We all know that these kind of transactions are time and space bound right now, because a man I Nigeria who has a business partner say in China has to go through series of procedures and processes to get any of the former transactions done, but with us it can be done in a matter of seconds or minutes.
One may be tempted to ask if decentralization of the banking sector is truly essential or just another way of in operating the blockchain to something else, but in actual sense there are fewer institutions with a more dire need for decentralization, putting into consideration of the monopoly that exists in the banking sector, it is sometimes annoying when you are so sure of what you want to do but the stringent rules and authority that exist in these banks as regards how you access their services can be annoying and guess what?
We'd have to deal with that because we are truly out of options as they are all operating on the same principles.
But with the distributed banking you can be your own bank on the blockchain technology.
Distributed Credit Chain (DCC) is the world’s first distributed banking public blockchain with a goal to establish a decentralized ecosystem for financial service providers around the world. By empowering credit with blockchain technology and returning ownership of data to individuals, DCC’s mission is to transform different financial scenarios and realize true inclusive finance.
It is apparent that the credit system of the world is ravaged by several loopholes that make it really inefficient and very expensive and sometimes really cumbersome for some of us to understand.
Why would the same interest rate apply to everyone? And all businesses, a large-scale business, and a small one cannot operate on the same interest rate.
Loans and credits are as old as man and have been evolving over time, and it is only wise for us to see that the direction of the world banking and loan system is tilting towards decentralization with these problems evident in it.
Cost
Efficiency
Borrower's interest
Profiteering
And joint credit.
And the value that introducing blockchain into the financing sector are also enormous as it curbs monopoly and promotes transparency among others.
The lender's corner
It will be pretty unfair for us to concentrate on getting the money without protecting the interest of the lender hence with the open source tech. In collaboration with the SDV(Submitting data validation). Will provide updated data on the potential risks of lending to someone.
It goes beyond institution to provide data about persons in relation to the business at hand.
The advantages of keying into the DCC innovation are,
Unique and tamper-proof identification system.
Low-cost loan system
Permanent storage system.
Good security system and asset liquidation.
Liberalized interest rate.
The brainchild behind this amazing project, the Cyber sheng foundation has planned to issue a total of 10,000,000,000 digitally encrypted token DCC in batches.
In the private round renowned professionals in the field of credit and banking taking no more than 18% of the total issued token.
At the previous stage, DCC will be locked and another 25% unlocked at the beginning of exchanges and another 25% unlocked after 2 months with the remainder left for another 6 months before total unlocks of the DCC token.
Tue DCC token will be exchanged in ETH.
For team members as well as the major components of the DCC team you can check the >whitepaper as well as the schedule of activities.
Also for more info you can check out the website here