Blockchain, a technology behind bitcoin or cryptocurrency is a hot topic of conversation in the world. Blockchain technology is a technology that uses distributed ledger concept that allows data to be distributed at every point connected in it efficiently and accountably, so that all parties including blockchain members can exchange data in real time. Blockchain technology becomes one of the right solutions that can be applied to the banking industry.
The use of blockchain on trade finance transactions can provide ease of access and validation of documents that can be done in real time through an integrated system between members. As for remittance transactions such as for the exchange of data in real time and secure because the data has been encrypted to all members of blockchain.
In 2012, due to the USA monopoly the President of the World Bank is planning to retire. This is certainly a big question of what the monopoly is. Before discussing about it, we need to know the characteristic of monopoly company, that is:
1. There is only one seller in the market.
2. No substitutes can be supplied by others. In English referred to as no close substitute.
3. The price of the product / service is governed by one company.
4. A monopolist is a price maker.
5. Other companies (new competitors) will find it difficult to enter the market.
6. Consumers have no alternative to switch service providers (vendors).
7. Monopolistic practices can of course cause injustice or harm to society.
8. Generally monopolist companies have relatively small advertising (and marketing) budgets.
Of all things above the monopoly and often occurs in the banking world. Limitations of consumer knowledge often make people lose from fund placement or service utilization in financial services institutions. However, that does not mean manufacturers can casually lure consumers with sweet promises. In addition, even business relationships can cause disputes.
In a state of monopoly in this banking world, the market has fallen into the hands of only a few financial institutions, which controls the credit data of all individuals and determines the flow and interest rates of all funds, resulting in great profits for themselves.
To overcome such a centralized financial system, in this era of blockchain technology, a new, decentralized system was established, one of which is the Distributed Credit Chain (DCC). With DCC, credit data is no longer controlled by the bank, but goes back to everyone’s ownership. Clients can now match their needs with many financial institutions and trade on a blockchain platform based on the same standards.
As a result, transaction costs are drastically reduced and individual users will gain equality with service providers. The traditional banking is only one service provider, not monopolizing the market and gaining excess profits. Meanwhile, a large number of small financial institutions can finally bring their unique advantages in playing and earning a decent profit from the market.
Distributed Credit Chain implements solutions with real Blockchain technology business scenarios, and developing a new super credit ecosystem that benefits the world. DCC is a decentralized open credit platform. Any platform with traffic and scenarios can submit his own Dapp application to DCC, provided this submission is based on the Distributed Loan Chain standard. In the early stages, to ensure health and ecosystem stability, the Foundation will review the Dapp release app. That The Cyber Sheng Foundation encourages various scenario platforms to enter DCC ecosystem to provide Internet financial consumption scenarios through Distributed Credit Chain ecoystem.
In DCC systems, individuals who need data or reports from data agencies must pay with DCC. Credit agencies also need to pay DCC to the certification body when verifying the validity of data. In such way the results and profit wheels can continue to spin and minimize borrower costs.
Hard Cap: 1 billion DCC Tokens
Soft Cap: 500 Million
There will be a total of 10,000,000,000 DCC in supply
30% foundation, 20% management team, 10% ITO, 20% private purchasers, 10% market cooperation agency & consultants, 10% ECO reward
For more information, click the links below:
eth address: 0x5028c92a61501183ba956e6ccac2275429f17809