Published 2 years ago by /u/ElactixNova

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DCC stands for Distributed Credit Chain. The platform which is based on blockchain technology aims to become a parallel banking channel rather than just the institutions which are currently controlling the entire finance industry. With the help of decentralized platform, banking services can be provided by the various different stakeholders rather than just the registered banks. When you look at the services of the banks that is providing loans as well as allowing to invest in various assets and other avenues, hardly any other institution is able to provide the same range of services. This makes the banks create a monopoly. However, monopoly is bad for any kind of business. That is why this platform is trying to create an ecosystem for distributed banking. Only with the help of distributed banking, the competition will increase and the level of service which will be provided will be higher. This is one of the main reasons why distributed banking holds such a lot of promise. This platform will actually create different stakeholders so that such services can be provided. It will also be identifying the individuals or the consumers with their real-world identities. As a result, fake accounts cannot be created. With the help of the real-world identities, ID will be provided to the consumers which will be known by the name of DCCID. With the help of this ID, the stakeholders will be able to decide whether the individual can be allowed to invest in different projects or whether the individual can be granted a loan. All of this information will be available to the stakeholders which are providing the services to the individual. The exact identity of the individual will not be revealed. Moreover, there will be a proper credit system for the stakeholders to decide whether the banking services can be provided or not. Also, based on the cryptocurrency Holdings of the individuals, the loans can be provided as well. With the help of these collateralized loans, the interest rate which the individuals will be able to get will be on the lower side. Also, there will be proper tracking of the repayment capability. As a result, it will become easier for the stakeholders to grant bigger and bigger loans depending on the credit history. Currently, the platform is coming out with an ICO.