In modern society, we often use a variety of financial instruments. But sometimes, to meet some of our needs, we are forced to take out a loan. Crediting has entered our everyday life and is not something bad and incomprehensible. Many countries use this type of family finance so often that they are forced to pay their interest for decades, and even for the rest of their lives.
Sometimes this approach allows you to live and not deny yourself anything. However, the relationship between the borrower and the supplier leaves a lot to be desired, because their current relationship has a number of flaws as below:
As demonstrated by practice, all decisions depend on large corporations whose financial operations are built in such a way that the client is obliged to pay them for excessive operating costs.
Are very often given loans and their interest rate is not returned to the issued organization, after which they must contact the collector agency who intend to return the borrower's money. This process is always accompanied by an additional cost to the company, which is sometimes even not covered.
Because the client's verification system is ineffective, there is often a huge loss of the financial resources of this or that company.
Let's get rid of the above problems and let's join a team of professionals developing the Distributed Credit Chain (DCC) project. Let's consider what kind of project and how is the solution?
Distributed Credit Chain (DCC) - Is the world's first decentralized system, which seeks, with the help of Blockchain technology, to manage all financial service participants.
The main objective of this project is to improve all available financial scenarios. As follows:
Each borrower will be able to authorize without problems in the blocking system for interaction with suppliers, as well as data transfer.
It will be possible to extract different data characteristics, and also to clean it up, avoiding the biggest problems in the future.
Platforms will exclude issues such as centralized systems as long-term loans, and will also enable them to be resolved, due to a transparent blocking system.
Any fund provider, can obtain from DCC easily and conveniently, and manage their business safely and reliably.
The essence of the project:
To build a new system that seeks to bring into the world of financial lending, a clean and transparent relationship between borrowers and suppliers. Therefore, DCC plans to drastically change the entire monopoly structure there is a traditional market of financial institutions, in the future, each participant in this sector should indeed be able to get in the growth of the environmental system.
The use of Blockchain technology will enable DCC to change the course of normal operations within the banking system, which will lead to an inevitable growth of communication not only between different regions of each country but also around the world. Such an approach would allow to change all existing structures, while setting new standards, increasing the overall level of business worldwide.
Regarding the country's settlement, due to its transparent structure, Blockchain provides open access to data that you know can not change, at the expense of smart contracts. Thanks to this, organizations that request verification data will easily and quickly be able to understand and assist with various data storage, as well as to prevent any sectoral risks.
The conclusion of this project:
The entire Distributed Chain Credit system has enormous potential. This model can be applied absolutely in every part of the financial industry. The specialist team works on the project, which clearly sees their purpose and knows where to develop it. Therefore, I suggest you learn the concept of this project in more detail, and also take an active part in it. Because they are closely related to each day in various financial institutions and do not understand how often they sometimes use us, while achieving their own goals. I think it needs to be changed, enough to be their doll, it's time to end. In addition, there is now an excellent alternative to traditional systems - Distributed Chain Credit platforms.
See their presentation in the video below:
And more information, visit the link below:
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