KC Chain, which was developed with an aim to build a pan-financial and large-scale blockchain for the Lending Industry, was recently officially launched at a tech event held in China. The developers of the blockchain claimed that the breakthrough technology would help the holders of funds to use their funds with increased flexibility and to enjoy the numerous benefits of appreciation value of digital assets. They also maintained that if the blockchain is deployed in the Lending Industry operations, potential borrowers would be able to obtain low-cost loans in safe and convenient way.
At the press conference held after the launch of the blockchain for lending industry, one of the developers said, “Borrowers and lenders need to sign a digital contract to choose the different financial products. The loan they will receive in digital currency would be equivalent to the loan product. Also, borrowers can enjoy the added value of digital assets when they hold the asset. The borrowers just need to repay the loans according to the contract they need to sign with the lender. Also, if the borrower fails to repay the loan, the tokens in borrowers account would automatically be locked.”
According to the developer, KC Chain is a blockchain-based pan-finance decentralized technology that does not involve third parties in the lending or borrowing process but provides a point-to-point exchange infrastructure for both borrowers and lenders. Since they use asymmetric encryption channels, the whole transaction process is completely sage, the developer claimed.
At the press conference, the Chief Technology Officer of KC Chain, Jeremy Zheng said that the smart contracts on the blockchain ensure transparency in all kinds of transactions. “Both borrowers and lenders have to sign the contract to initiate a transaction and no third party can intervene. The rules are open and complete and we aim to tailor the digital asset services to the digital assets holders”.
According to him, the self-sustaining system has 1,800,000,000 KC in total and also maintained that no additional safety or inconsistency issues have been reported to date. He added that lenders can read the white paper published on their website to know the technicalities.
About the Company
KC Chain is a breakthrough technology based on blockchain developed for the Lending Industry.
To know more, visit https://www.kcchain.net/.