The emerging technologies are making a number of innovations and blockchain and cryptocurrency lies on them. The concept of virtual currency or digital currency systems. The system works as a disruptive and innovative way and it underlying with the technology of distributed ledger. The transaction system gives assurance to the secure, stable and chronologic ways for possible application. This facilitates the Distributed Credit Chain or DCC for establishing the business standards reaching to the consensus for the deployed business contracts. This will have the implementation for the liquidation of the settlement services with the variety of distributed financial businesses.

Traditional Credit Business

The credit business activates the credit activities will hold a certain currency through the positions of temporary lending for an agreed-upon interest by the rate for the borrowers to repay the principals and interest according to the terms and period. The important activities are related to the financial market orderly management through the huge positive by the impact of the development of the society.

The fundamental function will be credited to the market by the adjustment for temporary or long-term funding through the shortfalls. This will be done in economics according to the players’ surplus having extra funds by the wish increasing their current expenditures. This might have the deficits due to the search for spending due to the fail because of the liquidity crunch. The credit market will allocate the assets and capitals properly by the allocation of smoother functioning to the economic system.

History of Credit Industry

The credit industry should go back a long way to find out the traces for the credit systems. The concept will add interest from the beginning of human civilization. The history is 3,000 years old when it was written for the loan contract from Mesopotamia. After that, the practical application will be making payment for the economic activity. This will have the practical application of making an economic activity to demonstrate. This will credit the expansion and progress through the human civilization in the United States propelling the industrial revolution.

The utility will be provided due to the loans for the community as it is enormous for the enabling greatest projects. The lenders were utilizing the collaterals until the 18th century and then the key type of loan became a contractual loan. The 19th century has to usher as the new era of loans in a more equitable platform. This will have the establishment in 1816 where the Philadelphia Saving Fund Society as it was the initial savings for the loan association.

It is highly centralized for financial intermediaries aimed by providing the average Americans without any savings and loans resources. It will have the assessment to the mortgages nearly 90% lenders by the use of FICO. It is recommended by the Federal National Mortgage by the Association of Federal Home Loan Mortgage Corporation while the lenders will begin using FICO in 1959 officially by the use of FICO scoring method by making it informed for the credit decisions.

DCC will have the conduct for the credit business on DC by the reconstruction to the business ecosystem for the traditional credit through the decentralized through the process as well as the distributed technology.

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