Review "Distributed Credit Chain" by Gucci Flip Flops. Join to ICO! $
Hi friends, my name is Amur and my bitcointalk username is Gucci Flip Flops. I prepared this article for you about Distributed Credit Chain - http://dcc.finance
In this article i wanna to get more acquainted with the question of in which real life spheres it is possible to apply the solutions of this system and thereby answer the main question: can this platform for the majority of consumers of financial services fully become a substitute for the currently existing proposals of classical financial institutions.
Consumer loans.
First of all, the system is designed for issuing consumer or individual loans. For the repair of housing, the purchase of necessary goods, training, everything that a modern person can not do without. The applicant sends the necessary data, compiles the application and sends it to the network. After passing the evaluation algorithms, the company offers him a loan with a certain interest rate. Like other services of the system, they differ possible interregionality. That is, a client with a good credit history, say from Europe, can get a loan at a more favorable interest (rather than in local credit companies) than, for example, in North America.
Payment of consumer fees.
The most striking example is the situation when the buyer enters into an agreement with the seller, according to which the consumer is obliged to pay for a consignment of the goods within a certain specified period. After they reach an agreement, the seller sends the buyer the first shipment of the goods. Before making a decision to send the goods, the seller has the right to verify the personal data of the buyer, to assess its solvent status.
Application as a service for registration of loans.
In this case, the following data will be written into the chain: sum; the duration of the loan agreement; fixed interest rates; Personal data available for public storage, but protected from unauthorized access; information on the integrity of payments and so on.
All recorded data in the future can be used to assess the client's creditworthiness and make a decision to grant a loan.
Issuance of credit block cards.
The system can not ignore such a popular phenomenon as a credit card. The platform users will be able to issue credit cards, which have full functionality and are linked to the technology of blocking. In future plans, DCC plans to become the largest credit card issuing organization in the world.
Regulation of asset securitization process
It is one of the most important tools of the world of finance, whose misuse has become, I recall, the main cause of the global financial crisis of 2008. What is it and how to apply it correctly, you can read here. As a result, it is quite clear that one of the main tasks for maintaining financial stability around the world is to ensure a high level of transparency in this process.
Service registration of mortgage loans.
Ownership of certain assets, be it real estate, car and so on, are registered in the chains of the system. Therefore, with each subsequent resale, all the milestones of the life cycle of any asset will be stored in the database of the system, which will avoid issuing a second mortgage for the same asset.
Providing a distribution system for asset-backed securities
Asset-backed securities (in the original - ABS, Asset-backed security) - this is a certain type of securities, based on a set of assets, pooled in one pool and secured by a constant flow of cash. Assets are just mortgages, receivables, etc. Thanks to DCC, such assets will significantly increase their level of transparency, which will eventually lead to an increase in their liquidity.
Conclusion
As we can see, the capabilities of the system are truly comprehensive: a full set of tools from clear for everyone in the form of credit programs, to complex schemes for asset securitization. In addition, the company's management says that this is only the beginning, and further we are waiting for even more functions for a larger number of target groups of customers.
by Gucci Flip Flops https://bitcointalk.org/index.php?action=profile;u=2110427