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How attractive is the spontaneous token of CTC mining credit scenarios in the financial public chain?

Time : 31/01/2022 Author : n7j3f1 Click : + -
        In the track of blockchain, new projects roar past, and trendy players strive to show the drift function from Internet companies to blockchain applications. At a time when cloud computing is still the mainstream, you may not think that these new projects have great achievements. Both the capital and the entrepreneurial team behind them have a blockchain effect. In this new track based on blockchain technology, projects such as finance, e-commerce, consumption, environmental protection, and government affairs are frequently seen. As the public opinion said, all major players play various tricks like wearing roller skates, and even ordinary people can quickly become masters. In the face of the global credit market of "10000 credit institutions + 1 billion users + 8 trillion US dollars", will you be excited? This really attracted a blockchain company.
 
        This start-up company is wecredit tag limited, headquartered in Singapore. As early as April this year, it released a blockchain product credittag chain (hereinafter referred to as CTC) for credit industry applications. In the same period, the company also released a wallet app based on the main network & mdash; WeCredit。 "Credit scene landing + financial public chain" is the first reaction of public opinion to this company. You will immediately think that they all come from a heat wave & mdash& mdash; Blockchain. What kind of story does this wecredittag limited want to tell after determining the strategic goal of entering the credit scene?.
 
        In the field of P2P platform, facing the market policy of strong supervision, there are various chaos in P2P network lending. For example, illegal fund-raising, customer information disclosure, and the risk of lenders being unable to repay, etc. blockchain technology can help solve these problems. When the blockchain emerged around financial technology, the strategic investment for the online loan scenario in 2018 began to intensively discuss a key issue & mdash& mdash; Which direction should we go in the future?. The credit risk of P2P online loan industry has increased due to the illegal fund pool, illegal loan and imperfect credit system of some platforms. What is surprising is that blockchain technology can provide a platform for direct transactions between lenders and borrowers.
 
        For example, btcjam evolved to a technical form closer to the blockchain in 2018. This is a P2P lending platform based on bitcoin blockchain. The borrower only needs to create a loan list on btcjam. The lender can manually select the borrowing (bitcoin) object, or establish a smart contract to automatically lend to the eligible borrower. In terms of credit, btcjam will score the credit according to the repayment performance of users. The credit score will affect the amount and priority of each loan, which can reduce the default risk of the borrower to a certain extent. When a loan is unable to repay the principal and interest on maturity, the smart contract can be automatically enforced, including the disposal of the collateral, which is conducive to protecting the interests of the borrower.
 
        The asymmetric encryption technology of the blockchain can ensure the transaction security of customers. The distributed intelligent identity authentication system of the blockchain helps to protect the privacy information security of customers on the basis of ensuring the authenticity and reliability of the identity of the platform participants. Through the case of btcjam, the industry still finds a new problem. Although blockchain technology has great application potential in the financial field, its application is still in its infancy, and it still faces many challenges in future practical applications. So, how can blockchain technology penetrate into different financial scenarios? What are the main problems currently facing? It is understood that the first is the limitation of the blockchain technology itself.
 
        Secondly, the artificial interference of the smart contract makes it impossible to make up for the loss in time when the system has problems. Third, although P2P greatly improves the efficiency of cross-border clearing, the transaction and storage efficiency of the blockchain is not high in daily transactions. At present, payment and settlement centers such as Alipay and wechat can handle tens of thousands of transactions per second. The Shanghai Stock Exchange, Shenzhen Stock Exchange and Hong Kong Stock Exchange have the ability to handle hundreds of thousands of transactions per second. In contrast, the processing capacity of the current blockchain technology cannot meet the needs of large-scale payment scenarios. With the integration of Finance and blockchain technology, it is inevitable to create more and more new business models, new applications, new processes and new products.
 
        At present, the blockchain application can solve some pain points faced by the financial industry and improve the efficiency of traditional finance. However, on the whole, the financial scenario application of the current blockchain technology is still in the initial stage. Credittagchaincmo Shan Cheng is a doctor of the National University of Singapore. He has studied and worked in Singapore and South Korea for more than 10 years and has long studied blockchain and finance. As the main product of Shan Cheng, how does credittagchain realize the landing of credit scenarios? What is the business logic of the CTC scenario?. The single pair interval set indicates that the blockchain can enable the CTC project of financial upgrading to bring a revolution in the vertical field of credit, Internet and loan by using the blockchain technology.
 
        At the same time, CTC attaches great importance to the implementation of the credit reporting scenario, which is one of the important manifestations of the project value. From the application level, CTC is a global credit asset value network based on blockchain technology, aiming to fundamentally solve a major development obstacle of the credit industry. The business logic of CTC is divided into three aspects:. 1) Loan users obtain loans from credit institutions by freezing a certain amount of CTC (token). The loan behavior data of users will be registered and linked through smart contracts to help their credit construction and make the credit information searchable and traceable. According to Shan Cheng, CTC will face the global credit market of "10000 credit institutions + 1 billion users + 8 trillion US dollars".
 
        CTC will bring a more profound impact on the global credit industry mainly from the following aspects. CTC is a decentralized service network. Through the CTC credit slip agreement, the loan relationship between loan users and credit institutions is more intuitive, transparent and difficult to tamper with. By building a distributed credit investigation system, CTC helps all loan users improve their credit information construction, solve the information asymmetry among lending institutions, and realize the scale of credit. Loan users of CTC system can obtain loans through mortgage credit, and credit institutions can reduce credit risk, thereby serving a wider group of loan users, and providing loan services with lower interest rates for loan users to realize inclusive finance.
 
        At present, CTC network is in initial operation. Unlike many other proposed credit business solutions, CTC is more focused on applying real business scenarios than ICO. In the next few months, CTC's blockchain and smart contract technology will open up online credit business cooperation with many companies in Southeast Asia. Facing the dividend issue of the holders concerned by investors, CTC has made it clear that some of its private digital assets are fully used for technology development and business development, so as to start the whole ecological construction of CTC. From this perspective, it is closely bound with the rights and interests of token holders. In order to allow token holders to fully obtain the project development dividend, CTC has designed a unique loop POS dividend mechanism.
 
        90% of the profits generated from smart contract services and data query services provided on CTC network will be returned to all equity holders according to the POS distribution principle, and 10% of the profits will be used to encourage new users to join the ecosystem, thus forming a circular incentive growth ecosystem. Logically speaking, CTC is not a lending company, but a blockchain company that can provide services for lending companies. Shan Cheng said that the credit market is very large, and CTC is willing to help institutions and companies gain a favorable position and reduce risks in the competition through blockchain technology. While CTC's own development vision is far more than the credit scenario itself. CTC will expand to the financial scenario including supply chain finance in the future to support lending including BTC, ETH, LTC and other digital currencies, with a view to ultimately realizing the global digitization of financial assets and the all-round and circulation of lending and borrowing of digital assets.
 
        In terms of current functions, wecredit wallet supports BTC safe storage, transaction and transfer, and is also docking with mainstream currencies including Eth and LTC. Users can use the wallet to safely and effectively manage more digital assets. As the director of credittagchain project, Shan Cheng also released his own views on finance and blockchain public chain, which has attracted wide attention. Shan Cheng believes that the competition of blockchain projects has become a red sea trend. The project parties are repeating the history of the Internet subsidy war, but in a sense, they have ignored the original intention and ultimate mission of blockchain is to serve the real economy. For the blockchain project, the landing is a significant manifestation of its value realization.
 
        Unfortunately, the research on blockchain in many projects is still at the theoretical stage, and there is still a big gap from the actual implementation. Shan Cheng even predicted that 90% of the public chain projects would be eliminated in the next two years because of difficulties in landing. Blockchain projects must be able to use blockchain technology to bring changes to the vertical field, or they will be in vain. Blockchain should be the service provider first. Only after providing qualified and excellent services can the blockchain project assume the corresponding transformation role. Credittagchain believes that it is a service provider. Only by adhering to the positioning of a service provider can it polish truly valuable products and finally grow into a innovator in the field or industry.
 
        Credittagchain uses blockchain technology to improve the credit process, open up the data of credit parties, and enable users to obtain high-value loans with small mortgages. Relying on its rich experience in the credit industry for many years, the project uses CTC tokens as the medium of user mortgage loans. The borrower only needs to freeze a small amount of CTC to obtain higher value loans from credit institutions. The whole process of lending is implemented through smart contracts. The behavior data of both parties, including lending, freezing and unfreezing, will be recorded on the blockchain. All information cannot be tampered with, and can be traced and queried, greatly reducing the risk and cost of credit institutions. It is understood that the founding members of CTC are mainly from Southeast Asia and Silicon Valley of the United States, with strong financial, technological and business backgrounds.
 
        CTC's management even made bold statements and vowed to be a credit umbrella for 1 billion borrowers. Shan Cheng said, "in terms of business, we do not contact with the provision of legal currency. We only link lending information and behavior.". In his opinion, CTC is a global credit asset value network based on the blockchain and a public chain based on the efficient dpos consensus mechanism; It is committed to solving the risk control problems related to mortgage guarantee in the traditional credit industry and providing an overall solution for the credit data query service. Up to now, CTC has obtained strategic investments from such institutions as aelf, hyperfund and super chain capital, and completed credit business docking with credit institutions in many countries including Southeast Asia, such as idong in Vietnam and Dana rupiah in Indonesia.
 
        In May this year, credittagchain token CTC began to land on major exchanges; On June 5, it landed in the ETH trading area of Canada bcex exchange.
 
        
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