DCC will eradicate the lack of effective personal credit information association between the world of data assets and the traditional world, results in no accumulation of historical credit and there also lacs effective means to avoid risk before, during and after loan processing. Conduct pre-credit risk control, manage performance during loan, and foster the expansion of the digital asset lending market. With the credit rating information generated through the algorithm and computation of algorithm service providers on the chain, the borrower’s first-degree friends (friends can be automatically added through DAPP authorization or both parties actively approve the friend relationship on the chain) can access the borrower's application and decide whether to lend. If they confirm to lend, both parties sign an electronic loan contract and the credit contract on the chain.
Topic: Distributed Credit Chain Making The Change in Credit System (Read 67 times)
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