The modern financial system has many shortcomings. While it appears to be working well, it has many shortcomings, and this is the very cause of Bitcoin's creation. A mass of developers has taken the lead to carry the revolution forward by developing platforms that hope to eventually decentralize the industry.

The peak of achievement would be when anyone could lend to anyone else without the need of an intermediate financial institution. Whether such a system can be achieved some day is to be seen, but it is undeniable that the current blockchain infrastructure needs to be further developed to sustain p2p lending.

Given that the financial system has many shortcomings, progress is possible even when blockchain technology needs further development. Decentralized Credit Chain is offering an innovative solution to a long-standing problem faced by the financial industry: limited competition.

More Competition

There are thoudands of banks across the world but most consumers have access to services from only a few of them. In an era when communication is so easy, banks are the only businesses that consumers have limited reach to.

Competition breeds improvement but there is a natural entry barrier that allows a limited number of banks to be physically present in a specific place. The natural barriers being the fact that only a few possess the capital needed to establish a bank. Thus, most people can only get loans from a only a small number of banks (in or near their vicinity). Consequently, banks can decide prices as an olligopoly, leaving consumers to merely decide upon which bank's unrealistic loan rates to accept.

Even within the banking industry, there's a hierarchy of power as banks with a larger source of capital, and thus more power, are able to limit the abilities of small banks. This is the factor that Decentralized Credit Chain hopes to exploit in benefit of the consumers. DCC aims to increase the competition among banks by an even playing field, in terms of market reach, for both large and small banks.

Access Without Borders

Decentralized Credit Chain is going to offer banks the ability to exist on an open credit network. Consumers will have access to this network and would be able to compare the loan rates of one bank with the loan rates of another bank. This fuels a natutal state of competition in the industry at a scale that has never been achievable before.

People will no longer be limited to banking facilities by physical peremesis. Every single bank in the world would be able to compete for clients on one platform. The Decentralized Credit Chain will increase people's ability of choice while providing them with access to better loan terms eith respect to fees, interest rates, and repayment timelines.

Additionally, as the financial system is a two-way mechanism, the savers will also benefit. Decentralized Credit Chain will place all the banks' offers for saving and people will have the opportunity to choose the best savings rate being offered by any bank in the world.

DCC Essential Links

🌐 Website: http://dcc.finance/
💡 Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3558425.msg%msg_id%
💻 Telegram: https://t.me/DccOfficial

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