What is a Distributed Credit Chain (DCC) – How Does it Works? (Easy To Understand)

What is a Distributed Credit Chain (DCC)? – In this article, we will tell you about the Distributed Credit Chain (DCC) project, which is somewhat similar to Libra Credit – you can read about it here.

What is Distributed Credit Chain (DCC)

DCC is a digital token that reflects the value of the Distributed Credit Chain credit platform. This platform wants to destroy the current credit monopoly, for this the project team creates a decentralized credit ecosystem.

The Distributed Credit Chain Ecosystem will consist of 4 categories of participants:

  • Borrowers;
  • Lenders;
  • Fintech application developers;
  • Insurers.

Thanks to the use of blockchain technology and smart contracts, borrowers’ data will be reliably protected, and lenders will be able to create the conditions for the provision of their funds. All of these interactions will be secure thanks to smart contract technology.

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Distributed Credit Chain Features

When implementing this platform, the developers did not need to come up with any special technological solutions, since the blockchain and the smart contract are enough to implement the functionality provided by Distributed Credit Chain.

For the project to be working, the team needed to focus on business models and marketing. And you know, the business model created by them is quite suitable for implementing the specified functionality. The team managed to create such an ecosystem.

The Distributed Credit Chain platform will work approximately as follows. A person who wants to get a loan will be registered in the system, then loads the data necessary for analysis. Downloaded information will be checked using algorithms and calculations, on the basis of the results of which a credit rating will be created and a decision will be issued to approve or disapprove the application.

The loan funds will be issued by the so-called “Providers of financing”, but they will not participate in the provision of a loan directly. How exactly will the financing take place, we could not figure it out. Therefore, you can try to do it yourself, and if you understand, write about in the comments. Here is the official site of the project – dcc.finance.

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DCC project perspectives

The Distributed Credit Chain project is working to solve the monopoly problem in the credit industry. If the project team manages to break this sector, which is extremely important for every business, it will be in the greatest interest of large companies and investors.

It is worth noting that at the head of the project is a strong development team that inspires confidence in us. A number of strategic partners is constantly expanding.

Where to buy DCC cryptocurrency

Distributed Credit Chain tokens are traded at 4 cryptocurrency sites, but we will single out only two: Bibox and KuCoin, since the other 2 are unknown to us. The cost of 1 DCC is 1.3 cents, with a project capitalization exceeding $ 18 million.

Where to buy DCC cryptocurrency

The maximum price indicators were reached on July 3, 2018, when the cost of the token was equal to 4 cents, and the capitalization was $ 35 million.

Conclusion

Friends, get more information about the Distributed Credit Chain cryptocurrency from official sources of the project. And we have it all. Until new meetings.

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