Today it is clear that the people are not satisfied with the banking sector in terms of the efficiency and profitability. This is clearly understood from the credit lending activities that are at the focal point of banking transactions. Borrowers from banks are unhappy with the lending service due to unbalanced interest rates and extra charges. On the other hand, the vast majority of bureaucratic procedures in the process of borrowing are also a separate question. Those who make deposits for bank lending also regret the low income.

The part which always wins is the bank, in any case. Banks take more money from customers than they deserve. In this case, as in other sectors, the paradigm shift is necessary for the banking sector as well. We can even say that it’s time the banks eliminated. For this, the Distributed Credit Chain (DCC) Project which is a decentralized blockchain project is really promising. In this article, I will try to examine this project, which brings a new vision to the finance sector and credit operations.

How is the Distributed Credit Chain (DCC) Ecosystem?

There will be lenders, borrowers, insurers in the ecosystem of the project. In this system, interest rates will be determined transparently according to the supply and demand balance. The confidentiality of the personal data of the lenders will be protected. During the initial registration, personal data will be verified and a new bureaucracy will not be created in the subsequent processes. The lenders will be able to determine the credit funding requirements as they wish.The best part is that lenders and borrowers meet at a decentralized venue under DCC platform guarantees without an intermediary.

Advantages of Distributed Credit Chain (DCC

The project is based on the blockchain ethereum infrastructure.In this respect, the advantages of blockchain technology have been adapted to the financial sector.As it is known, smart contracts are used in blockchain technology.The infrastructure of this project will also be a smart contract.In this context, so there will be no need for a bank as a third party.All transactions will be performed automatically on the DCC Platform according to predetermined rules.All operations will be recorded on the blockchain down to the last detail.Thus, the process will become definite in the blockchain network.All transactions will be transparent and predetermined; arbitrary applications of banks will not be the subject of transactions.

The monopoly on the other side of the current financial sector will be removed from the scene. If you think that the current system is completely bank monopoly, you know that the removal of the monopoly means getting rid of the banks. This will open the way for competition in the financial sector and everyone will get bigger slices from the pie. In this regard, the Distributed Credit Chain Project is a sign of a bank-challenging revolution.

Conclusion

It is a capitalist tyranny that people who want to borrow money are forced to work with banks since they are the only legal entities. Because people are subjected to high credit rates. I support and follow the project because of the fact that thanks to the DCC Project which is based on blockchain network we will get rid of banking monopoly.

For More Information Please Visit

Website: http://www.dcc.finance/

Whitepaper: http://www.dcc.finance/file/DCCwhitepaper.pdf

Telegram: https://t.me/DccOfficial

Facebook: https://www.facebook.com/DccOfficial2018/

Medium: https://medium.com/@dcc.finance2018

Twitter: https://twitter.com/DccOfficial2018/

Githup: https://github.com/DistributedBanking/DCC