Generally traditional credit business follows activity
Holder of the currency lends some amount of money agreed upon interest rate to a borrower who repays the principal and interest according to the terms and period as agreed.
Many credit agencies will get huge profit from interest spread. It can reach low as 3-5% for individuals to 7% for small- and medium-sized enterprises
Due to intermediates like banks and credit agencies, lenders and borrowers are losing trading opportunity.
Distributed credit system:
DCC is aiming to break the monopoly of traditional banking. In the decentralized credit chain (DCC) each individual or institution has been given one DCCID generated through Public-Private key. DCC provide an open source personal credit data management framework-DCDMF (Distributed Credit Data Management Framework)
It uses Advanced Encryption Standard (AES) to encrypt the data with private key and password.
It follows cyclic way from borrowers to data providers then algorithm and computational service providers, then risk assuming institutions to funding providers so that finally user gets funds from lenders after successful completion of each stage.
Data in the DCC stored distributed in the hands of users, that means it is returning control of credit to customers
The DIV framework of DCC enables the change from centralized management by credit reporting agencies to decentralized individual ownership, which will fundamentally alter the original landscape in which the personal credit reporting system is maintained by centralized credit information systems in each country and region.
It Improves data validation efficiency and reducing data used cost
Providing AI risk control where anti-fraud and modelling algorithms are provided on the blockchain which is to help financial institutions process personal data without storing data.
It provides solution for Eliminating Monopoly and Profiteering, Creating Data Marketplace, AI Risk Control, Disclosing Lending Behaviours, Positive Data Feedback.
Benefits of DCC Ecosystem:
• It is very efficient and low cost based credit business system
• It has tamper proof identity system
• Asset securitization with excellent asset liquidity
• Liberalized interest rate formation mechanism
Verdict:
Pros:
• Core team members are well experienced in financial filed as well as IT
• Its MVP is already available in iOS
• Overall idea of the project is good as it is already raised $50M hard cap.
• Roadmap is clear explanation
• Social media hype is very good, it has 35000+ members in telegram community
Cons:
• White paper is very complex as it explained in core financial terms
• Team members are not experienced in blockchain technology
Team:
Stepwise Zhu – Founder
He is a serial entrepreneur in the internet and Fintech industry. He has led a leading SaaS financial technology company in China to develop internet-based credit systems for over a dozen of trusts with multibillion USD annual loan facilitation amount, which was successfully sold to a publicly-listed company in three years.
Daniel Lu – Chief Innovation Officer
He holds PhD in Mathematics, Yale University, USA; Postdoctoral Research in Financial Engineering, focusing on the Representation Theory, University of Leipzig, Germany. He has years of experience in financial institutions at home and abroad, working successively at Deutsche Bank headquarters and Finance Department at a joint-stock bank headquarters.
Stone Shi - Co- Chief Researcher:
He worked in J.P. Morgan as Vice President handling Quantitative Research focussing on Derivative Pricing and Quantitative Model Risk. He has majored in Computer Science and Applied Maths.
Token Matrix:
Token - DCC
Token Type - ERC20
Total Supply - 10 Billion DCC
Price - 1ETH = 14700 DCC
Accept - ETH
Soft Cap - $8.7M USD
Links:
Website: http://dcc.finance/
Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
Telegram: https://t.me/DccOfficial
Twitter: https://twitter.com/DccOfficial2018/
Bitcoin talk Username: anushkamehta0902
Bitcoin talk profile link: https://bitcointalk.org/index.php?action=profile;u=2039767
ETH address: 0xd1c62C22C078A0C6B1E42F7200F0b082EE81a64a
Glad to be in this growing project. This project has a very good plan. The most important thing is to show all your investors and customers the value and importance of the product you are working on.