Overview:
Distributed Credit chain is using blockchain technology to change the banking system and convert it to decentralized platform from centralized platform. This platform will reward the users who help its ecosystem to grow. The main aim of this project is to convert the current management structure of banks into a flat system with distributed banking. The project will bring changes in the credit system of banks which is in place today to overcome all the limitations and problems of the credit system.
Centralized Credit Service:
The centralized credit service providers such as credit agencies gain lot of profits. The borrowers need to pay high interest rate on borrowed funds and lenders gets less returns on their capital which they lend. Many borrowers have less or no information about application requirements, their own credit worthiness, and accessible services. This bring is more intermediaries such as credit agencies to carry out the process.
Decentralized Credit Business:
By making the credit system decentralized the intermediaries will be eliminated which will also save the time to carry out the process. The borrowers can also get privacy and security as they no longer need to share their financial information to any third party. The blockchain technology will prevent any user or third party to misuse the data of other users. The borrowing behaviour will be stored in blockchain and this information will be available to other investors who can see it thus preventing the problem of long term or repeated test borrowing.
Advantages:
• Disrupting the Monopoly:
DCC aims to remove the monopoly of traditional financial institutions and thus returning the earnings to everyone involved in financial services.
• Decentralization:
Using decentralized platform transparency and ownership of the data to the users are provided which prevent problems such as handing personal financial data to third parties.
• Government Regulations:
With the help of blockchain data analysis institutions can help regulatory bodies to take actions on industry risks at a faster rate.
Team:
• Stewie 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
Verdict:
Pros:
• The social media hype of this project is very strong. It has around 10,000 followers on Twitter and around 35000 members on Telegram.
• The team members have qualification and background in Finance, Statistics and Computer Science.
• There are 5 advisors in the team who have good experience and background in Finance sector.
• The MVP of this project is available on the Apple store.
• This project raised around 50 million USD from its ICO.
Cons:
• The team should also consist of members who have good experience and knowledge on blockchain technology.
• The whitepaper should consist of more simple language. It was explained in financial terms which was difficult to understand if the reader is from non-finance background.
• Apart from advisors they have only three team members. They should include more members from blockchain background.
Website: http://dcc.finance/
Whitepaper: http://dcc.finance/file/DCCwhitepaper.pdf
Telegram: https://t.me/DccOfficial
Bitcointalk Username: rshetty3344
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1907004
ETH address: 0x137F3CC2750C9b9bF639Cd4Bf8CB63c56823aC3c