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Distributed Credit Chain (DCC) is a distributed banking public blockchain employing an infrastructure to interact with banking service providers and create a decentralized ecosystem for the greater financial services industry. By empowering credit with blockchain technology, DCC aims to transform financial transactions between lenders and borrowers, businesses and individuals, across regions and industries.
The concept of Distributed Banking is to break the monopoly of traditional financial institutions through fair financial serviced and return earnings from financial services to all providers and users involved, so that each participant who has contributed the growth of the ecosystem may be incentivised, thus truly achieving inclusive finance.
Through decentralized thinking, Distributed Banking will be able to change the cooperation model in traditional financial services and build a new peer-to-peer and allcommunications cooperation model across all regions, sectors, subjects and accounts.
As it pertains to business, Distributed Banking will completely transform traditional banking's debt, asset, and intermediary business structure through replacing liability business with distributed wealth management, replacing asset business with distributed credit reporting, debt registration and replacing intermediary business with distributed asset transaction with . The tree-like management structure of the traditional bank will evolve into the flat structure of Distributed Banking, which will establish distributed standards for various businesses and improve overall business efficiency.
As it pertains to distribution, decentralization is disintermediation, a way of breaking up original excessive premiums that result from information asymmetry among intermediaries, and returning such premiums to ecosystem participants, thus achieving the redistribution of ecosystem value as well as fair distribution among participants through digital consensus algorithm.
As it pertains to regulation, the fact that all records registered in the blockchain cannot be tampered will enable regulators to penetrate into the underlying assets in real time. Big data analysis institutions can also help the regulatory bodies understand and respond to industry risks more quickly based on blockchain data analysis. It will be possible to develop a new "Basel Accord" on the management system of blockchain-distributed banks.
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