DCC: INTRODUCING THE NEW SYSTEM AND PHASING OUT THE OLD AND TRADITIONAL SYSTEM OF CREDIT SERVICES.

The ideal system of monopoly and also centralization based on the traditional system of banking is basically considered to be one of the major hindrances to the scalability of the traditional system of banking. Whereby all decision taking coupled with flow rate and interest rate and also credit of all the registered users or individuals under the said system is under the sole control of few financial or institutions that make all the decision to generate more profits and revenue for themselves. But with the development of blockchain its sole application in almost all aspect of life is solely designed to bring improvement, scalability as well as enhance revenue and profit and also reduce cost in all the areas it has been applied or incorporated to.
Blockchain has however been also been applied in the traditional banking sector to help transform it in such a way that the aspect of decentralisation will be phased out and also returning the possession and control of credit cards back to the sole owner the owner has full control of his or her credit card and also in the same time reducing cost and also giving individuals the same equal rights with the service providers. All this is said to be achieved under the directives and supervision of a platform DCC.

DCC PLATFORM

DCC is basically refered to or defined as distributed credit chain in full which is a platform that has made resolving the issue of centralization and also monopoly from the traditional system of banking and the platform is said to acheive this through the use of blockchain. It tends to break the issue of monopoly by carrying out a fair financial service and also return the financial earnings from the financial providers back to the users and individuals who will be incentivized if he or she contributes solely to the growth of the credit ecosystem. And also by applying the ideology of decentralisation, DCC aims to phase out the cooperation architecture or design of the traditional way of banking and then provide a peer to peer as well as an all communication cooperation model across all regions, subjects as well accounts.

Also bringing in the buisness aspect, dcc will transform all the traditional assets, debts as well as the mediator or agent buisness structure by basically replacing the liability aspect of business with distributed wealth management and also phasing out asset buisness and incorporating distributed credit reporting and as well phasing out intermediary business structure and replacing it with distributed asset transaction.

STRATEGY TO BE USED BY DCC TO ACHEIVE THEIR TARGET OF PHASING OUT CENTRALIZATION PECULIAR TO TRADITIONAL CREDIT SYSTEM.

USER ACCOUNT IDENTIFICATION SYSTEM:
In the dcc system, each individual or institution registered on the platform will be given one DCCID which is generated through a public private key which is paired to form an address. The address is used as a member Id just as in the traditional internet system and also for identifying as well as associating real-world benefits like: real name, number of properties owned and also as source of information on credit card.
DISTRIBUTED CREDIT MAINTENANCE SYSTEM:
This aspect of the dcc platform basically redefines the process of exchange of personal credit. Individuals are said to be in full control of their data through the use of DIV( distributed identity verification)and as such individuals are said to have the liberty of determining the use, presentation and also the storage of their personal data. Data services institutions basically generates profit by providing quality data services to individuals instead of storage of data but DIV is said to protect data from falsification as well as deception by the use of signature and also data digest as well in the circulation web.
THE BLOCKCHAIN-BASED LENDING SYSTEM:
DATA ENTRY: With the use of SDV (submitting data validation) which is an open source framework, the lending institution can basically find it easy in inputting individual data to their risk control system.
LENDING PROCESS: Suggestions are been made by dcc for lending institutions to use chain data to facilitate as well as maintain the lending process. The users can submit their loan applications directly to the chain by use of signature and the lending institution will then obtain the information through the use of SDV and then updates the approval and result to the corresponding order.
CREDIT REPORT: Through the use of contacts on DCR (distributed credit report) there will be generation of credit index in the dcc platform which will record the individual's whole life cycle status on the platform from the application of the loan, loan reviews, repayment, loan overdues, collection even down to bad debts.
NON-COOPERATIVE GAME BETWEEN PARTICIPANTS:
With the use of blockchain, dcc sets to expand the interlinked credit ecosystem relationship said to consist of many centralised system into a flat credit ecosystem whereby smart contracts and also blockchain serves as the shared medium and also all participants are thus treated fairly with no atom of biasness.

ADVANTAGES OF THE DCC PLATFORM
The advantages of dcc is said to include:

It offers efficient and also a low-cost credit buisness system.
It offers asset securitization coupled with excellent asset liquidity.
It offers a Liberalized interest rate formation mechanism.
There is a unique as well as tamper-proof identity system and also a credit reporting system without data island or data monopoly.

THE DCC PLATFORM TOKEN AND TOKEN DISTRIBUTION

The dcc platform is said to use a utility token which is a digital currency and also e Cyber Sheng foundation is said to issue a total of 10,000,000,000 tokens of the encrypted digital currency DCC. Which will serve as the main medium of exchange on the platform.