Financial blockchain projects – the first ICOs to reach mass adoption
DCC is a project in the field of finance. As you have probably noticed, the crypto world is in its very early stages of development. It is dominated mostly by speculators, traders, hedgers, lenders, borrowers and all kinds of people that are here for nothing else, but to make a quick buck. The real use applications are not being built yet. It takes time for the apps and platforms to get released, tested and made operational.
On the other hand, financial projects like DCC are usable from the get-go. Once up and running, the user base is already here. The niche is full of traders and speculators, lenders and borrowers. This was proved by a lot of projects that developed decentralized exchanges, trading bots, arbitrage bots, lending services and we even had a few outright Ponzi schemes like Bitconnect. But either way, the point here is that there is a huge demand for financial services in the field.
Banking the unbanked
Another key point is that one of the most needed applications of blockchain is to bank the unbanked. The third world countries and people there, most of whom are potential borrowers. And they don’t have a credit rating, because there are no banks currently on their disposal. DCC may have a solution in hand. It is not a coincidence that the efforts of the company are targeted at countries like Vietnam, that have a large percentage of unbanked population.
DCC are pretty ambitious in what they are trying to build. If we see their list of services we encounter loan registration service, consumption loans, consumption installment, blockchain credit card, token loan services, mortgage claim registration, ABS asset distribution and more to come. The scope is huge.
The benefits of decentralized credit system
DCC will solve key problems in the financial sector. Lowering the costs of the financial services will be just one of the results.
We can say that banks are doing exclusive finance. They are developing very complex products, long contracts with hidden fees and rules. All in order to confuse the users and benefit. And also, to protect their leading position. It was possible until recently, just because there was not an alternative. If you didn’t like how the banks worked or treated you, you had no other choice. So you keep going with them. Not anymore.
DCC and the blockchain technology are creating an alternative. An alternative, in which individuals keep the ownership of their data. What it means? A credit agency collects a lot of data in order to evaluate the risk score of a borrower. It is a costly process that manifests itself in the price of the services the credit agencies provide like loans, fees and interest rates. What DCC is proposing is that every individual has its credit history saved on the blockchain, which is tamper proof. Credit agencies then join the DCC system to obtain more users and data. We are having a decentralized credit investigation system. No data monopoly is formed by banks or institutions.
ICO
The ICO is targeted more at institutional and finance circle rather the mass users. We can clearly see that from the higher level of sophisticated language and terms used both on the DCC website and whitepaper. Both provide enough information and make the ideas clear.
There are a lot of flashy ICOs out there who try hard to impress with flashy websites, proud statements and big promises. What I like in DCC is their professional and serious presentations. Nothing worth of value needs aggressive marketing and cheap tricks. DCC are being quite clear and simple in their delivery. I like the brand and everything seems pretty consistent.
The DCC token is needed, because the individuals that require data or reports from data institutions need to pay DCCs. Credit institutions also need to pay DCCs to the certification body when verifying the validity of the data.
VC investors
Probably the most important factor when evaluating ICOs are the investments from VCs and institutions. DCC obviously passed their assessment, because a lot of funds invested in the project, like JRR Capital, NirvanaCapital, AlphaCoin Fund, LD Capital and others.
Community
DCC have some substantial followings. The Telegram group has over 60 000 members, 11 000 twitter followers, and over 7 000 facebook fans. The team members and admins are opened and collaborative in the telegram channel at all times. The communication with the community is really professional and on point.
Team
The core team is mainly Asian and is comprised of 8 professionals with very solid bios and experience in the finance sector. They also have community managers for the biggest Asian countries. The team has links with academic people and close relationships with universities for research work. Some professors can be seen on the list of advisers, too. The team seems to have excellent business connections, too. This is important for every start-up project.
Conclusion
Given the institutional support and the track record of the people behind the DCC project, I believe this is one of the best credit/finance projects in blockchain and they can easily end up being one of the winners in the race, especially on the Asian market.
DCC Official Website: http://dcc.finance/
DCC Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1446481
My Username: Paradoxall