Distributed Credit Chain (DCC) is an open source personal credit data management infrastructure — DCDMF (Distributed Credit Data Management Framework) on top of secure cloud storage.

The Purpose Of The Distributed Credit Chain

The purpose of the Distributed Credit Chain — to break the monopoly enjoyed by traditional banks, you to convert various financial scenarios and implement democratic financial flows in a transparent and fair chain Blockchain. In addition, this new type of banking system will reward all those involved in the growth of the ecosystem. Thus, the rapid development of the ecosystem will be achieved, while creating an inclusive financial sphere. Inclusion (from inclusion) is the process of increasing the degree of participation of all citizens in society, primarily those with difficulties in physical development.

Thanks to the decentralized approach, virtual banking DCC plans to change the usual model of financial services, by introducing an innovative scheme in p2p communications. Now each user will have direct access to their personal data, which previously had the right only credit agencies.

The decentralized system of DCC is designed to create significant competition to credit agencies and banks, as well as to change the model of cooperation in the traditional financial sector, building a new model of interaction on the principle of "equal-equal". Transactions and credit information will be protected from unauthorized access, and all real-time activities are easily tracked from any anguish of the world.

Centralized credit and its problems

Banksters have driven the world economy into a dead end, the future financial crisis will be very painful for everyone — a possible alternative would be cryptography and blockchain in General.

Alliances uniting whales of the global banking system, is easy enter into an agreement and manipulated the market. With the release of DCC and similar decentralized projects on the global financial market, the share of alliances will inevitably decline, reducing the power of whales, which will have a positive impact on smaller players and, as a result, lead to social and economic progress.

One of the key problems of centralized banking structures is that storing information in one place often leads to security breaches, failures and the risk of losing all savings. Credit banking system Distributed Credit Chain will allow users to control their finances 27/7 and stay in full confidence that the savings will not be frozen or stolen through the fault of the Bank.

The Advantages Of A Distributed Credit Chain

Access to personal information from anywhere
DCCID is a decentralized accounting system, its generation is independent of any single DCC node. Any person, organization or company can generate DCCID offline. DCC uses digital signature technology at every stage of data exchange, which fully guarantees the continuity of data interaction between individual or organizational chains. In addition, the information will be stored encrypted in the cloud for easy access from anywhere.

Single credit address
In DCC, each individual or Agency has a single DCCID for the formation of addresses generated with a key pair. This address acts as an identifier of a participant in the traditional Internet system, linking the various attributes of the real world (such as authentication real user ID, Bank card and information about owned property) and a credit chain request for the loan, repayment, etc.

Ecosystem
The DCC uses the block chain to extend the initial credit link, consisting of many centralized systems, into a flat credit ecosystem in which blocked smart contracts serve as a common means, and where all participants are treated fairly. The openness of the DCC ecosystem allows each participant to cooperate on an independent and equal basis. Further cooperation between previous lenders and borrowers will not depend on the initial relationship, and the decisions made by any participant in the ecosystem will be completely independent of others, creating a truly incompatible gaming environment. This two-way model of cooperation will significantly reduce the complexity of the system connection.

Security
Data breaches undermine confidence in Central credit and banking institutions. The purpose of hackers becomes personal information (social security numbers, Bank card numbers, Bank accounts, etc.), which is highly appreciated on the black market. This problem occurs only because the information is stored in a centralized location, such as a credit Agency. In a decentralized credit system, the information will be stored in parts in several places at once, providing a higher level of information security for users.

Competition and cost reduction
The decentralized system will also eliminate speculation by credit agencies and banks by increasing competition. If there are only a few large players in the lending market, it is easy to create an Alliance that allows all companies to increase their profits. However, if DCC provides similar services to banks and credit agencies in the market, these enterprises will be forced to return to a competitive market. The limited power of large institutions will also allow smaller players to re-enter the market to promote social and economic progress.

Efficiency
With DCC on the blockchain avtomatiziruete processes, allowing to increase the effectiveness and adoption of reasonable decisions on lending. For example, AI will be used to control risks, which will allow better to direct borrowers to possible credit institutions, and not to ensure that they disclose personal information to creditors, which they are not entitled to. The DCC will also increase the transparency of credit actions by creating a credit history report on the chain. This provides access to all parties that need credit information, while preventing problems such as re-borrowing.

Subtotal:
These are just some of the advantages of an innovative credit system. Decentralized credit of the future will be more secure and accessible to customers. DCC will allow users to completely abandon intermediaries such as credit agencies and the costs associated with these models, creating a fair ecosystem for all who want to use DCC's financial services around the world.