*Distributed Credit Chain*, abbreviated as DCC, is currently the only blockchain, which supports the distributed banking in order to create a complete system for convenient provision and receipt of financial services. ![img](https://imgp.golos.io/0x0/https://cdn-images-1.medium.com/max/800/1*fYLqgJPtXBQGsmKKR7D8vA.jpeg) The main goal of DCC is to transform completely the financial scenarios, for example, to provide users with loans based on the blockchain. ### Basics The distribution of digital technologies, the acceleration of data transmission speed, the accumulation of distributed computing resources and cryptography are considered to be the factors that help to understand that blockchain, decentralization and confidentiality will very soon be at the forefront. The public chain DCC will be used for distributed type of credit reporting, debt registration as well as asset management. This will allow users of all over the world to provide all financial services conveniently. In other words, «distributed banking» is formed and it is radically different from the traditional one. The basic concept is to break the monopolies of habitual financial organizations and to create an incentive system in which each participant will be rewarded for his/her contribution to the system. ![img](https://lh4.googleusercontent.com/KacqRTMeXXIRuz3RQMm7EDepb7ETAQ9YZr7Kvb9DghRbsLik94Mb1NjyE08pmom7D1FvBNe58gbOdIUYiLqD3C34iHURS3pzArKTMNmA3ILSPAxCf81AXuC7b1vxMesquzc5dLVr) ### Advantages of a decentralized banking system What positive aspects will be brought to society by the distributed financial system: 1. Elimination of monopolies and speculation. Everyone can choose a borrower. In a decentralized market, the power will be based not on intermediaries, but on the market in general. And all participants will profit, helping to make calculations on the blockchain. 2. Reasonable protection of confidentiality. Personal data should not be stored for a long time in any institution. It is much safer to organize local or encrypted storage in the cloud, which will be accessed through convenient local addressing. 3. Lack of data centralization. Blockchain allows individuals to own and to use their data, and also prevents leakage or misuse. 4. Te increasing of the efficiency of data verification and reducing the cost of using them. Due to secure automation, organizations do not need to ask repeatedly the consumers for their personal information in order to use it. 5. Creating a «market data space». A standardized data market will help to create brands and niches of high value with the ability to process large amounts of information. 6. Risk control through AI. The blockchain contains the algorithms for smart defenses against fraud and the system of in-depth training work. It allows financial institutions to form a truly effective risk control. In addition, the distributed banking will support the function of feedback and credit history so that the parties can be confident in each other. ### The economic model of the ecosystem DCC tokens are used to pay for work in a distributed network. Any work that goes to the network benefit must be paid for. The balance is managed through the DCC contract token to maintain a total fixed amount. As the financial services system grows, certain business scenarios are increasingly introduced, and as a result the liquidity increases significantly. Payment for DCC is based on the DCCpayment contract, which is responsible for the correct payment with the participation of several payers. ![img](https://lh5.googleusercontent.com/tepF2VmullJCCYkLlLCfnxGuCFMMOPjZ-IALkd_-v6HwMvdEgMIvou5ZggFF7NstfZATuA-r9u0awPeaUiPk36OXvMFLhc0dCGFALRg02l-Tz_QC9xbl9aiBOxfOfLNnVv3Bl7lA) ####

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