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As soon as blockchain appeared on the horizon, it started being introduced into various spheres of our life, and banking is not an exception. Indeed, the modern credit system is far from perfection, and advanced technologies wouldn’t hurt to make it more customer-friendly. For this purpose, DCC project was established, but before we start observing it, let’s underline key problems of modern credit system.

## Deficiencies of modern credit system

The main aim of the modern credit market is to adjust the funding shortfalls, and the assets and capital should be more properly allocated to make functioning of this system smoother. Although banks are shifting towards the data-driven business model, the system has a lot of drawbacks at each stage of credit and loan-granting process. These problems include:

-   Lack of transparency in rights and interests.
-   High fees and operating expenses.
-   Inefficiency of operations.
-   Privacy violation.
-   Lack of trust to credentials.

Role of data in modern credit system cannot be overrated. Data monitoring and analysis allows for making informed decisions and adjusting marketing strategies according to customers’ demands and preferences. But provision of services is performed via different centralized systems, which increases the risk of counterfeiting. Besides, the fact that data is fragmented makes up for high trust costs. Besides, when data is not properly encrypted and not authorized by customers during the process of partnership, privacy abuses can take place.

### Can blockchain help?

What is the role of blockchain in the process? Using it, we can implement an open consensus mechanism and provide the banking industry with a better solution. Blockchain can provide us with the following advantages:

1.  Fast digitalization and integration of advanced solutions
2.  Rapid data transfer speed;
3.  Optimization of computing power;
4.  Introduction of cryptography and mathematic techniques.

Therefore, with a blockchain solution, we can enjoy a better privacy protection, openness, decentralized approach, independence, and irreversibility.


<center>![лого3.png](https://cdn.steemitimages.com/DQmPQxxkGYf7mjD4m7qSdbsUUszrwZjCyCQsS8RVYBdFFQ3/%D0%BB%D0%BE%D0%B3%D0%BE3.png)</center>

## What is DCC platform?

Distributed Credit Chain (DCC) serves as a decentralized environment for banks and financial organizations globally. It returns the data ownership in the hands of individuals and implements new approaches.

The blockchain lying in the foundation of DCC will serve for:

-   real-time debt report system;
-   registration of debts;
-   control of personal wealth.

Since DCC will function as a decentralized system of banks, it will destroy the monopoly of the modern financial organization, and allows businesses from all over the world to render their services in a more efficient, user-friendly way. Thanks to P2P (peer-to-peer) communication, no middlemen are required to perform credit operations. At the same time, every participant of the platform can be rewarded for help and participation.

![1.jpg](https://cdn.steemitimages.com/DQmY35FQnfpkguipQjwv3M8cU4arYFTADZnGfzjATK4PUAA/1.jpg)

## Solutions provided by DCC

The project has the following useful features and services:

-   Rating system. Participants will get feedbacks to build a credit history. The reports generated and stored on blockchain help to prevent some issues, such as long-term borrows.
-   Risk assuming. Users can earn reward by managing loans, bearing certain risks, and collecting after loan.
-   Additional funding providers.

In order to understand the principles of DCC functioning, let’s highlight the main participants of DCC project:

1.  Users who want to order a loan, fall into the category of “Borrowers”. They should create an account and specify some personal data. As soon as a service provider is found, a borrowing request is initiated.
2.  Data service providers are responsible for integrating personal data, collecting and storing it in the chain. Besides, they need to make sure that the data is always clean (get rid of unnecessary data), and complies with standards.
3.  Computation service providers can make judgments according to policies.

![2.jpg](https://cdn.steemitimages.com/DQmPFfMW8C85o1YDmPoqZxJULwSpN15mmpjnLFrKq9kd6dw/2.jpg)

## Is DCC worth trying?

Since the company has achieved the hard cap during the main token sale, it has enough financing to be developed and improved. Banks and financial companies interested in borrowings made on a decentralized platform should definitely consider buying DCC tokens and participating in the project. This is a perfect chance to find new corporate partners and customers, as well as to try blockchain technologies.

Although DCC is available all over the world, at the initial stages of its growth, it’s targeted on Asian countries. Most probably, European and other markets will be entered further on, and only time will show whether a decentralized credit system can replace the traditional ecosystem.
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[Website](https://dcc.finance/) | [Whitepaper](https://dcc.finance/file/DCCwhitepaper.pdf) | [Telegram](https://t.me/DccOfficial) | [Bounty](https://bitcointalk.org/index.php?topic=4185316.0)

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