DCC AND ITS ROLE IN THE CREDIT CHAIN BUSINESS: [Essay Example], 838 words GradesFixer
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DCC AND ITS ROLE IN THE CREDIT CHAIN BUSINESS

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We live in a society where the importance of financial benefits/aids cannot but be overemphasized. In a world where one cannot be 100% financially able, a world incapacitated by heavy financies which cannot but be scaled except with the aid of a public credit business used for distributed credit chain. This invariably makes the importance of the credit chain system one that cannot be swept under the carpets as it has proven to be more than just a financial service for example, many exist which cannot single handedly cater for their financial needs without the aid of the credit/loan sector which could either be financial institutions say banks etc who provides them with the necessary funds to solving this needs with a “pay-back”grants/credit cards.

Loaning has become an “everyday” thing that we can’t avoid. The more we try to avoid it, the more situations arise that would entail us taking loans in order to meet up and solve our urgent financial needs. A “financial need” is a need of whatsoever that can be solved with “money”, and checking around our present day economy, you will find out that Lending/loaning has become our culture and indeed cannot be avoided. However, this isn’t as mouthering as we think, as the credit business is still being disrupted and ladened by some circumstances as the credit chain business in each country is filled with loopholes at every phase of the process such as; the issue of monopoly, high operational costs archaic and analogous cooperation model, centralization, lack of privacy protection and breach in privacy. These glitches partly lie in the delivery of services through a centralized systems etc. A future for an underlying public financial credit business becomes more and more necessary and needed. It was for this reasons that Distributed Credit Chain was born. Hence, Decentralized credit chain, a new and advanced decentralized credit business presents a new and convenient way to servicing the credit business. This system boasts of being more than a traditional financial system, but an integrated ecosystem of distributed financial services.

WHAT IS DCC

Distributed Credit Chain abbreviated to (DCC) is the number 1 world’s ever distributed banking public blockchain born with the aim to revolutionizing and and creating a decentralized ecosystem for financial service providers around the world. DCC’s vision lies with the need to establish the public credit chain system, while it’s mission is to transform and implement different financial scenarios and realize true inclusive finance in the ecosystem. In other words, Distributed credit chain (DCC) is what I tag “the game changer”.It is a virtual ecosystem empowered by blockchain technology to bridge the gap between the traditional credit business and modern credit business making effective use of the distributed credit reporting, debt registration, wealth management, and asset transactions etc.

HOW DCC SEEKS TO SOLVE THE PROBLEM

To any problem, lies a solution (s). The problems faced with the financial credit business is what didn’t start today. In the bid to making the ecosystem purposeful, user friendly and welcoming, DCC then steps in to put off some shackles and to bring a resolution to the ecosystem in the following ways;

Bridging the monopoly of traditional financial credit business.

Eradicating the traditional cooperation model and introducing the new and advanced peer-2-peer cooperation model across the globe.

Transforming the traditional debts and assets business to distributed wealth management.

Ensuring a privacy data management through the use of blocking. This is because, any data or information coded by blockchain cannot be altered.

Eradicating data monopoly.

Etc.

The efficient use of blockchain technology would create an enabling environment for DCC to make an effective chain in the banking, financial and credit business all together thereby leading to an instantaneous sharp surge in the operation and communication in the ecosystem. This will also go along way transforming the old cooperation model and bringing in a new model of cooperation in the banking and credit businesses around the globe.

In conclusion, Distributed credit chain (DCC) will be the next big thing happening in the crypto space, as it will impact a positive change through its solid potentials with the help of the Team. A close look should be paid to the technological innovations behind the concept of DCC and that of the credit chain system. And you will agree with me that DCC is what we need to scale through the hurdles of the monopolistic,centralized and data-leakages habouring in the credit chain business.

The token sale will find the development and adoption of the DCC platform. The tokens will be able to be exchanged by eth.

In summary, The DCC’s payment is conducted based on the DCC smart payment contract, which is responsible for the DCC payment guidelines for multi-payer input. In DCC system, the individuals that need data or reports from data establishments need to pay DCCs. Such system will help in transforming the unique way data establishments create revenue, which is, from making profit through amassing and reselling user data and providing better services to consumers and many more.

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GradesFixer. (2019, May, 14) DCC AND ITS ROLE IN THE CREDIT CHAIN BUSINESS. Retrived November 19, 2019, from https://gradesfixer.com/free-essay-examples/dcc-and-its-role-in-the-credit-chain-business/
"DCC AND ITS ROLE IN THE CREDIT CHAIN BUSINESS." GradesFixer, 14 May. 2019, https://gradesfixer.com/free-essay-examples/dcc-and-its-role-in-the-credit-chain-business/. Accessed 19 November 2019.
GradesFixer. 2019. DCC AND ITS ROLE IN THE CREDIT CHAIN BUSINESS., viewed 19 November 2019, <https://gradesfixer.com/free-essay-examples/dcc-and-its-role-in-the-credit-chain-business/>
GradesFixer. DCC AND ITS ROLE IN THE CREDIT CHAIN BUSINESS. [Internet]. May 2019. [Accessed November 19, 2019]. Available from: https://gradesfixer.com/free-essay-examples/dcc-and-its-role-in-the-credit-chain-business/
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