Distributed Credit Chain (DCC), aims to decentralise the credit system. It wants to take the monopoly out of the hands of large financial institutions and establish a decentralised and distributed P2P network. It wants to secure and prevent privacy breaches, whereby the user’s data is not in danger of being exploited. The DCC platform enables faster transactions, with lower transaction costs and the assurance of secure information regarding the parties involved.

DCC is led by a team of highly experienced and regarded experts in the field of internet finance, payments and lending. DCC is not a bank, instead it is a distributed banking ecosystem which serves both lender and borrower. It functions to make all records concerning an individual’s credit history more transparent while enabling the individual to avoid high intermediary costs involved with current centralised practices.

DCC complies with the law and regulatory practices in each country of establishment, i.e. China, Korea, Vietnam and the U.S. Data entry is carried out through the open source framework SDV (Submitting Data Validation), which enables institutions to easily input user data into their existing risk control system. SDV continuously updates the data and verification regarding the party in question on its DCCID (Distributed Credit Chain Identification).

Contracts on DCR (Distributed Credit Report) will enable a history index in the DCC system, which will consist of records regarding the individual subject’s entire history of loans, repayment, collection and bad debt. The retained data on DCC is tamper-proof and ensures security and accuracy of the exchanged information.

The openness of the DCC ecosystem sets no limits for people participating in the ecosystem and ensures equality in the terms provided to parties when asking for cooperation and further involvement.

Directional loans between a lender and borrower materialise when the two parties reach an agreement on the loan off line, then respectively download the required receipt software and add each other’s certification, and finally process the loan by signing an electronic loan contract on the Distributed Credit Chain, where payment partners complete the monetary transfer simultaneously.