DCC Finance: World's 1st Distributed Banking Ecosystem!
Making of money and accumulating wealth sometimes is no longer a problem but the way and manner to manage it becomes the bigger problem. If we eventually have the opportunity to make some money we send it to the bank for safe keeping, because we see the bank as the safest place to drop and store our wealth. Why our money is being kept in the bank, it will be used by the management for business which you will not be given anything for. And it is not all the activity which is going on in the bank that you will be able to view at any time of your choice. This alone can bring than a man instead of uplifting him. The curiosity on how to solve and resolve this entire problem leads me to a well-decentralized blockchain technology “DCC” https://dcc.finance/ this platform is a multipurpose platform. It is the first decentralized banking platform.
WHAT IS DCC?
Distributed credit chain (DCC) this is the first decentralized platform that helps individuals store and monitor their finance notwithstanding it also allow them to run and give lone with their wealth, it is the world's initially conveyed saving money open blockchain with an objective to set up a decentralized environment for monetary specialist co-ops around the globe. By enabling credit with blockchain innovation and returning responsibility for to people, DCC's central goal is to change distinctive monetary situations and acknowledge genuine comprehensive back. Watch the video below to grab and know things about this project. https://youtu.be/QKF6tqDXXzw
MISSION
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.
PROBLEMS
There are some problems which we are been faced in the world today which is affecting in the aspect of making and keeping our finance. The customary money related industry is profoundly incorporated. Monetary exchanges depend vigorously on the underwriting and support of vast money related establishments, with considerable exchange charges paid out to these organizations. Monopolistic money related foundations have in actuality raised loaning rates for borrowers and decreased the premium salary for banks. Some of those problems are;
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COST
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EFFICIENCY
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PROFITEERING
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The core model of a credit agency is to share the costs of non interest-earning elements and bad debts by charging the "good guys" who can pay back the money. For borrowers, it brings an additional cost.
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From the credit agency's perspective, a lot of time and efforts are wasted in verifying the credit of borrowers who do not meet the agencies’ risk criteria, which leads to wasting resources and decreasing efficiency.
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A centralized credit model entices many financial institutions to deviate from their primary purpose— serving customers. Aiming for profitability, they deduct lenders while squeezing borrowers, and expand their profits by extending their customer base.
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SOLUTION
The best solution to the problems which are listed above is the Distributed Credit Chain (DCC). The diagram below illustrates in details how these problems are been solved.
ADVANTAGES OF THE PLATFORM
As a member or part of the foundation of the DCC platform, there are some certain things which you will be opportune to, some of those things are;
1. Break the Monopoly: With a worldwide conveyed managing an account biological system, DCC plans to break the imposing business model of conventional money related establishments and to return income from budgetary administrations to all suppliers and clients engaged with such administrations so every member may share the arrival of natural development. dispersed saving money will, at last, be an approach to genuinely accomplish a comprehensive arrangement of the back.
2. Decentralized Thinking: Through decentralized reasoning, conveyed saving money will have the capacity to change the participation display in customary monetary administrations, fabricating another distributed and all-interchanges model of collaboration over all districts, divisions, subjects and records.
3. Transform Business Structure: In accordance with business, dispersed saving money will totally change customary managing an account's obligation, resource, and delegate business structure. The tree-like administration structure of the conventional bank will consequently advance into the level structure of a decentralized bank, building up circulated models for different organizations and enhancing general business productivity.
4. Government Regulation: In accordance with control, the way that all records enrolled in the blockchain can't be altered will empower controllers to infiltrate the fundamental resources progressively. Enormous information examination foundations will likewise have the capacity to enable the administrative bodies to comprehend and react to industry hazards all the more immediately in view of blockchain information investigation.
all this and many more which are being listed in the whitepaper; http://dcc.finance/file/DCCwhitepaper.pdf
For more information about this great project please kindly visit the links which will be provided below.
and don’t forget to subscribe to the news feed in their website to enable you never run out of the update.
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