MLG Blockchain Consulting is committed to supporting unique and upcoming ICOs on their journey towards successfully integrating their blockchain technology. And we know many of you are curious to dive deep in the minds behind these novel blockchain projects.

That’s why we decided to kickstart ICO Start-ups — Meet the Founders Series. In this series, we aim to support your learning progression of upcoming and current ICOs by asking insightful questions to the founders themselves! Today, meet DCC’s Stewie Zhu — a finance executive and scholar who is devoted to improve the fintech industry.

How did you first get involved with the blockchain century?

The first time I heard about blockchain was on the news in China in 2013. At the time that the Chinese were fascinated by Bitcoin. The topic was all over the news and you couldn’t avoid seeing it.

Meanwhile, I was working in fintech providing small cash loans online, bringing new tools to customers, and simplifying transactions. I was looking for fundamental solutions to problems I encountered in the industry. In fact, I experimented with game theory for a while, but I was not satisfied with the answers I found there. When I discovered blockchain technology, I found the sort of comprehensive solution that I was seeking.

2. What inspired the idea of your blockchain company, was it spontaneous? Was it an idea you had for a long time?

Most of my adult life has been spent on studying and understanding economics and finance. There have always been challenges in these fields that I had not been able to find solutions for. Every time I thought I had figured it out, it wasn’t quite right or not quite comprehensive enough. With blockchain technology it all kind of fell into place and that’s when I decided to start Distributed Credit Chain (DCC). It just all finally made sense.

3. What did you do before starting DCC? Did you demonstrate prior expertise in blockchain?

Before DCC, I was the CEO of TaiCredit but I didn’t give it up when I started DCC- I’m still the CEO at TaiCredit. Also, after completing my Masters in Financial Economics at Oxford, I became a PhD candidate in Finance at LSE where I focused on behavioural finance and game theory.

When I decided to launch DCC, it was in response to the frustrations that I had with the traditional financial system. I guess you could say that DCC is my idea of how financial systems should operate in the future. Though I didn’t have any formal expertise in blockchain before founding DCC, I did a lot of research before deciding that it was the best tool to create solutions to complex problems in the financial world.

4. Who is the team behind DCC and why are they awesome?

Our core team is a small, but highly educated and experienced group in the world of finance. We also work with an amazing group of consultants that help augment the experience and diversify the perspective of those currently on the team.

On our team we have Vanessa Cao, Stone Shi and Daniel Lu. Vanessa, a CFA with expertise in fintech, was a former director at Keywise Capital and partner at Bridge Capital. In those roles, she focused on mergers and acquisitions of China’s A-listed companies. She leverages that experience and focuses on the ecological development of DCC’s programs.

As for Stone Shi, he used to work at J.P. Morgan and focused on quantitative research, derivative pricing and quantitative model risk. His background in computer science and math has provided DCC with an extremely valuable perspective in the quantitative domain.

Finally, Daniel Lu has a PhD in Mathematics from Yale, and his focus on his post doctoral research is in Financial Engineering. His research and expertise have made him a highly sought after keynote speaker and an expert in the global finance field.

5. What problem does your ICO plan to solve?

Simply put, DCC intends to transform the banking industry by building distributed banking and distributed credit, rather than the centralized systems that we have today. Our goal is to break the monopoly of traditional financial institutions. We plan to do this by returning profits made from financial services to all providers and users involved in transactions such that each participant that has participated in the growth or success of a service is remunerated. Digital banking will be a vehicle for creating an inclusive financial system.

And, while on the topic of inclusivity, decentralized banking will allow for businesses and individuals to access financial services globally quickly and conveniently.

6. Please walk us through the user experience of someone who would use DCC.

The first thing we do when someone joins DCC is transfer the individual’s credit history onto blockchain. Whenever individuals want to get a loan, they send their data to a credit agency for a credit report, and this will be the primary user interaction. On DCC, when people receive their credit report they will decide whether to save it as a personal data asset in the cloud or locally. In the background, a hash summary of the report is sent to the DCC via smart contract to be recorded on the chain. At the same time, a verification report will be sent to the credit agency. Once approved, the data is labeled as authentic and rapidly uploaded on the chain.

Most of the transactions happen in the background. Users will mainly just use DCC to apply for their credit reports. They will then have access to a unique DCC Profile associated with their ID, like at a traditional bank. This ID will hold all of individual identifiers such as names, banking history, credit history, properties, assets and liabilities held. Everytime a user engages in credit activity the profile will be updated automatically to reflect changes, leading to comprehensive credit profiles that will be accessible globally. Therefore, if someone relocates, they will be able to access their credit profiles quickly and efficiently.

7. How big is the market you are addressing?

Our market is massive. Just think about how much operates on credit and everything the industry encompasses. That’s our market, so there’s a lot of opportunity.

8. Who are the major investors behind DCC? (for cross-promotions and endorsements)

There are four major investors behind DCC. The first is JRR Capital, a community of professional investors and entrepreneurs who are driving blockchain-based innovation. JRR Capital was actually an angel investor for Binance as well. Our second investor, Guicheng Xiong, was another of Binance’s big investors. Our third investor is Sen Hu, a serial entrepreneur who was named one of Forbes ’30 under 30’ and who used to work at Google. Last, is Ying Wu who is the UTStarcom Founder.

9. Where is your blockchain company registered? Which country?

We’re still waiting on confirmation, but we’re hoping to be registered in Singapore.

10. What is your favourite blockchain that was created and why? Do you use it yourself?

There are a couple of projects that I really like right now. One of them is DATA, which is an advanced project which works on data verification. Essentially, it wants to get rid of fake data and it works really well; I use it both professionally and personally and I quite like it. In general, I like projects that solve actual problems; otherwise, I’m always inclined to think it might be a scam.

11. If you had the opportunity to meet the mysterious Satoshi Nakamoto, what is the one thing you would want to ask him?

The question I would ask is: When you wrote your paper in 1998, did you expect there to be such massive disputes between asset mining companies, such as what is happening in China right now?