The existing problems of traditional financial systems
The subject of issuing of credit loans is very relevant today. Almost every adult of the planet has faced loans during the life. However, the current system of issuing of credit loans has a number of certain disadvantages. For banking institutions, the problem is the ever-increasing rate of non-payers due to the lack of a centralized database of unreliable borrowers.
This, in the end, results in high interest rates on loans to compensate for their own damage. High interest, in turn, leads to increased monthly payments and the emergence of new delinquencies. Non-repayment of a credit loan threatens individuals to transfer their confidential data to collection agencies that make the most diverse efforts to obtain their own benefits. It is also worth mentioning the additional banking services that institutions impose on all truths and fouls. For legal entities, traditional financial systems require an impressive package of documents for obtaining a loan. And, of course, it is necessary to call in mind the established monopoly of large institutions. Developers of the DCC platform plan to solve the above problems and create really favorable conditions for all market participants.
How will the banking standards change with DCC?
The Distributed Credit Chain project on blockchain is designed to destroy the existing monopoly of traditional banking institutions. Thanks to this platform, each market participant will be able to get real benefits in the case of successful development of the ecosystem.The developers plan to create an inclusive financial system within the project. Taking the advantages of the decentralized platform for blocking, the very model of digital banking will change qualitatively. A more modern business model - peer-to-peer - will be on the site of the traditional system. Any user will have the opportunity to use the services of a decentralized platform, regardless of the location. Commercial banking institutions can more effectively approach the issue of analyzing existing debt obligations, valuing assets and using intermediary financial services.
The mechanism of distributed capital management will replace the existing liability system. Further impetus for development will also be received by the traditional tree management system. Its place will be occupied by a horizontal business structure. All this will help improve the efficiency of the new business model. Thanks to the capabilities of the technology of blockchain, there will be real levers for managing and processing all the economic processes that are taking place.
Conclusion
The DCC project strategy on blockchain is of interest primarily because of its usefulness and structuredness. The project offers effective solutions to existing problems in the field of financial lending, and can also contribute to the development of a global change in the current economic system. Therefore, potential investors should pay careful attention to the DCC.
Learn more information about the project and technical features is available in the WHITEPAPER
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