Project Description
DLCC – A Blockchain Based Platform for Lending and Borrowing Money.
About
About
DLCC is a blockchain-based crypto lending application. It lets its users lend and borrow cryptocurrency and digital assets. This application is made for the Digital lending Capital Corp that aims to provide tools to hedge funds managers and institutional allocators for managing risk and hedge funds.
It aims to provide end to end automated solutions to its clients for making it easy for them to manage the risk of assets and digital securities. It is a blockchain-based solution in the finance domain that lets users lend and borrow money.
Challenges
Challenge
Since earlier we have already developed the blockchain-based solution, the only challenge we faced here was to ensure the liquidity of the assets in the application, since in financial applications, crypto investors do look for the same. Also, we needed to make sure that all features are regulatory compliant and the process is easier for lending and borrowing.
Solution
Solution
Regulatory Compliance
Everything in DLCC is built under the regulatory compliance that follows best practices than the traditional asset markets. Since we do believe “Crypto Need Rules”.
Exchange Based solution
A basic solution provided to all the hedge fund managers and institutional allocators that allows them to manage and hedge investment risks.
AML and KYC
In order to use DLCC, a user needs to verify its KYC or AML, as an initiation. It will determine the credit eligibility of the respective person.
Secured Solution.
It is a focused blockchain lending solution built under compliance and all the security infrastructure requirements are taken into account.
Smart Contracts.
DLCC provides smart contracts that reduce the chances of any frauds and errors. It automates the process of settlement by digitizing traditional contracts.
Technology Stack
Technology
React JS
NodeJS
Mongo DB
Ethereum Blockchain
Outcome
Since the launch, DLCC has gained positive traction. It is highly secured and cannot be hacked. It has also reduced the disbursal time for crypto lending, loans and made the process easier.