The Ethereum Blockchain is becoming world famous for creating positive change in the micro-finance sector. Traditional banking institutions aren't willing to get involved in extending loans to lesser developed countries for many reasons. The Ethereum Blockchain provides a perfect solution to this! Below, we're going to list the top reasons banks have declined to help Third World countries with micro-finance needs in the past :
1. Inaccurate Borrower Data - One of the biggest problems facing microfinance is borrower data inaccuracy. Crime, poverty, and the lack of access to mainstream financial institutions all contribute to inaccurate Third World data stores. The immutable properties of the Distributed Credit Chain prevent data from becoming inaccurate or corrupted. It also provides genuine data mapping and forecasting ability.
2. Needless Dependence On Manpower - The Distributed Credit Chain uses automation technology to eliminate dependence on centralized employee manpower. The Ethereum Blockchain is almost completely automated, which turns microfinance into a genuinely profitable business venture. Wasted capital spent on employee salaries and risk-protecting intermediaries can now be saved.
3. Heavy "Containment Strategies" - While it would be nice to believe microfinance loans help set people free of poverty, statistics prove otherwise. When aspiring foreign entrepreneurs are faced with overcoming their own poverty, it turns out to never be that simple. Societal issues contributing to a "containment" mindset and operational status of a country aren't healthy, but it isn't the banks demanding this "containment" in the first place. Financial "containment" is produced BY ITSELF by the harsh economic reality of living in a Third World country.
Battling to improve the socio-economic status of a country isn't easy. Releasing high tech Internet program technologies that build on top of what basic Internet can provide HELPS A LOT. The Distributed Credit Chain overcomes previously insurmountable microfinancing problems using automation technology and eliminates manpower-based, zero-profit scenarios for good. With no "middlemen" involved in the Distributed Credit Chain, there's also nearly zero overhead cost.
Distributed Credit Chain (DCC) - Using Automated Processes To Eliminate Wasted Spending
The fully automated design of the Ethereum Blockchain prevents banks from having to dedicate manpower to microfinancing they know isn't going to produce a return on their investment. Without the Ethereum Blockchain, microfinancing ISN'T ABLE to result in a profitable outcome, only "containment". And according to our current "manpower fueled" centralized banking system, there aren't any microfinance provisions designed to help make Third World finances work out for the best. Until now! The Distributed Credit Chain is the microfinance provision everyone's been waiting for!
Also, loans provided by banks according to a "shared cost" scenario don't work out correctly for mainstream America either. The idea of providing everyone with equal treatment loans (and low-interest rates based on best business practices), doesn't equate to a healthy contribution to their centralized borrowing system laced with crime and "hidden" illicit habits.
Our current banking system is flawed because centralized technology is OUT OF DATE. The Blockchain-powered Distributed Credit Chain provides REAL tech upgrades, which collect and retain 100% accurate data, propelling the microfinance arena forward! And Ethereum Blockchain technology has significant benefits for Europe and the USA and is already a big part of the European Union. (see PSD2 Banking Directive)
For more information, visit the official Distributed Credit Chain website at
http://dcc.finance/ and join the Telegram