Advantages and problems of credit institutions
The use of lending services has become an integral part of the entire civilized world. People from the earliest times lent to actual values, paid interest or forced property, creating a model of the credit infrastructure. The ability to take credit, simplifies a large number of household issues and helps with emergencies, supports and generates business, helps the world economy maintain balance and develop society. Now the sphere is at a rather high stage of development. It has evolved into a global, multifaceted structure that provides hundreds of diverse services and has huge assets of capacities that make the system work. But along with the globalization of development, the ecosystem has acquired bureaucratic outlines in the space of monopolistic control. This created a lot of problems and put a rigid framework for users, causing a wave of discontent and mistrust.
Among the main problems remain:
Large interest rates for borrowers. This is due to the need to keep the many departments and services involved in the management of the "credit machine".
Low dividends for depositors. This is due to monopoly influence in the whole sphere. This means that the rates are simply mutually pamping at the level of all structures of the sphere.
Barriers to receive funds by users. To obtain loans, we are obliged to provide a bunch of unnecessary bureaucratic elements, to confirm solvency, to seek guarantors, etc.
Security. Keeping a large number of personal data of users in centralized repositories, banking structures threaten the reliability of their preservation.
Other problems - poor quality of service, connection to the state, limited working hours, long processing of data and decision making ...
As we can see, the infrastructure is bursting at the seams, limiting users and adversely affecting its development and globalization. That is why, serious approaches to eliminating problems and effective tools for their implementation are already needed now.
What is decentralized credit?
The credit system is extremely important for the world community. It is designed to help users and work on the basis of equal mutual benefit. Unfortunately, habitual credit systems based on centralized technologies do not cope with the task at hand and, as a result, break the logic and the initial pledges of the sphere.
In contrast to the old approaches, the decentralized credit and banking system is replacing it, it is designed to help users transparently control and dispose of their finances. Also, the purpose of this technology is to optimize the infrastructure, which should lead to the solution of inefficient methods and work processes.
How will it look like
The introduction of Blockchain technology will allow reorganizing the credit system and using tools for the effective use of trust-based technology. DCC intends to lead the revolutionary changes in the sphere and give rise to a new generation of financial services.
DCC will create a market in which financial institutions will offer their services within the framework of healthy competition;
chain system will create a mechanism for secure transactions and make up credit ratings of credit institutions;
Standardization of the system, will increase the efficiency of services, and make them relevant to users' requests;
Avoiding the monopoly of large financial institutions, will give freedom of management and control of data;
Trusted information about the data of users and credit organizations stored in centralized repositories will make it possible in one click to make sure to the parties in the possibility of interaction;
World coverage, not tied to the place of residence, citizenship, social status ...
Such approaches will allow to unload the system from unnecessary departments and services, providing a mobile interaction structure. This, in turn, will greatly affect the cost of services and will help simplify the processes for better understanding and control.Advantages of DCC
A team of banking professionals, studied in detail the market and its problems. Despite the scale of the forthcoming work, which may last for 5-10 years, DCC company deliberately sets the highest goals. For the reformation of the entire structure and the achievement of new spaces of interaction.
Advantages of a decentralized banking credit system:
Based on user accounts in the system - DCCID, access to your credit data will be open without the mediation of third organizations. All information will be in the cloud, which will make it possible to use it anywhere in the world, in any language. This method will provide unprecedented mobility and flexibility for users.
The security of personal data is a particularly acute problem that centralized approaches to the storage of credit agencies can not resolve. Blockchain. has established itself as the technology of the most reliable protection that exists at the moment. This will ensure confidence and prevent possible leakage and loss of data.
Cost of services. The question is worth it - how to make the cost for the use of services acceptable? The answer is simple - to create a competitive environment where large monopolists will provide services along with small organizations. In such a space, it will become impossible to overstate prices, since customers simply stop using the services of the company, with the possibility of choosing an alternative.
Smart-contracts and Artificial Intelligence, will help in automating most processes, increasing their efficiency and allowing you to escape from inaccuracies committed for example by the human factor. Also, it will help to predict, support and direct users based on the processed data.
These are only basic, but not all advantages of DCC. In the process of scalability and development, many more problematic places and methods for their solutions will appear.
Let's sum up the results
Many experts appreciated the project. DCC has every prospect of becoming the most vivid solution to the financial and technology market of Blockchain. In my opinion, the company is predetermined the role of the industry's flagship. Goals are set, they are supported and the community needs them. The matter is left for the professionalism and perseverance of the team and DCC experts. We are waiting for great results and achievement of our plans.
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