Dunia Crypto: Distributed Credit Chain: Empower Credit, Enable Finance

What is Distrinuted credit chain?

Distrinuted credit chain is the world’s first distributed banking, public chain, distributed banking it is built on the fundamentals of the blockchain technology, decentralized, open,irreversible, autonomous and private.

To transform and evolve the banking industry in various aspects. A distributed bank is not a traditional bank, but rather an ecosystem of distributed financial services. So Unlike the traditional financial service, the distributed banking ecosystem creates a true P2P and all communications model of cooperation across all regions, sectors, subjects and accounts. It will enable business participants in different countries to provide financial services in more convenient efficient and powerful way.

How does distributed Credit chain work?

They will begin by tabbing into the credit business on DCC, the history of the credit industry goes back a long way and credit played an essential role of the exponential of the human civilization which in turn, has put credit efficiency, privacy and cost reduction under the spotlight.

about Blockchain:

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data.By design, a blockchain is inherently resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

Blockchains are secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability[ or voting.

Blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.

ICO

What is ICO Initial coin offering

An initial coin offering (ICO) (derived form initial public offering) is a means of crowdfunding centered around cryptocurrency, which can be a source of capital for startup companies. In an ICO, a quantity of the crowdfunded cryptocurrency is sold to investors in the form of “tokens”, in exchange for legal tender or other cryptocurrencies such as bitcoin or ethereum. These tokens supposedly become functional units of currency if or when the ICO’s funding goal is met and the project launches.

ICOs provide a means by which startups avoid costs of regulatory compliance and intermediaries, such as venture capitalists, bank and stock exchanges, while increasing risk for investors. ICOs may fall outside existing regulations depending on the nature of the project, or are banned altogether in some jurisdictions, such as China and South Korea.