DRC Distributed RegTech Collaboration Platform
https://i.imgur.com/JqbXGh5.pngWhat is the DRC?
Distributed Regtech Platform (Abbreviated for DRC) is a professional and intelligent risk control and management platform based on blockchain, which sets up an “autonomous, mutually trusted, professional and transparent” distributed network for regulators, innovation projects and professional risk control agencies.
DRC, “Autonomous”, “Distributed” and “Shared” in spirit, will dedicates itself to building an ecosystem with manageable risks and transparent regulation.
Why do we need DRC?
The exponential emergence of blockchain projects and applications has, up until now, baffled institutional and individual investors. Investment institutions often make wrong judgment on promising projects due to investment managers restricted knowledge, experience, capacity and resources available. External rating teams or agencies, liable to manipulation or lacking transparency in their working procedures, lack credibility. On the other hand, technical startups do not have guaranteed capacity. Some of them are too preoccupied with technology development to focusing on publicity and promotion, while others are dedicated to promotional operations but lack the ability for application and execution. Investors aspire to find capable and promising teams, and achieve a tradeoff between high risk and high return.
Value Proposition
In order to manage risks beforehand, manage risks actively and permeably throughout the whole stage of the project, this platform will provide users with due diligence, information disclosure, risk assessment, dynamic monitoring as well as many other professional services.
By doing so, DRC aims to drive the development of blockchain industry to be more standardized, healthier and more transparent.
DRC advocates spirits of “autonomy”, “distribution” and “sharing”.
Meanwhile, it’s dedicated to build a community environment aimed at manageable risks and transparent regulation!
How the DRC ecosystem is built?
https://i.imgur.com/qlxleLN.png | https://i.imgur.com/qlxleLN.png | The DRC ecosystem acts different roles with different social responsibilities:
- Contributor: Suppliers of professional services and run the brand stores in DRC platform;
- Requestor: Originators requiring for professional services;
- Actors: Community or non-community members choose to undertake related assignments;
- Fans: Onlookers;
- SME: Professionals with certain influential and recognition in different fields; the “Tutors”
- Arbitrators: Authority figures holding authority and credibility; the “Arbitration Committee Member”
All the roles need to follow specific governances in the social system and these governances are executed automatically by smart contract and the main parameters are determined upon discussion and consent of representatives elected from the board of governors, including:
- Incentive Mechanism: Proof of contribution (POC) and related design philosophy are adopted here, encouraging and advocating professionals to earn more DRC coins by providing premium contents;
- Membership Grade Mechanism: Membership is the comprehensive manifestation of expertise, credit, contribution and activity.
- Experts Review Mechanism: “Expertise” of professionals indicates the contribution and recognition of professionals in the eyes of community members;
- Credit Rating Mechanism: DRC encourages the community members to observe their promises; the “performance bond” will be charged against “dishonesty” for clear awards and punishments.
- Arbitration Mechanism: Disputes are inevitable. Dispute arbitration procedures will be initiated here and final award will be made by the arbitration committee.
- Voting Mechanism: “Thumb up” and “Thumb down” are encouraged to express whether you are satisfied at the outputs. DRC chooses “Diminishing voting power” mechanism.
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Vison & Goals
Distributed Regtech Collaboration Platform (DRC) is a blockchain-based specialized in smart platform for professional services. Constructing a distributed network that features “Autonomy, Mutual trust, Professionalism, and Transparency” among regulators, technical start-ups, and professional investors, DRC offers services including due diligence, information disclosure, risk assessment, valuation & pricing of digital asset, and dynamic monitoring. The
concept of “Proactive, Procedural, and Functional Monitoring” is applied throughout the full lifecycle of project, which aims to facilitate regular, sound and transparent development in the blockchain sector.
DRC sets a goal of “Building a Wall Street for the Digital World”. Utilizing blockchain technology, it will construct a
self-governed, shared, and coordinated ecosystem, open up bottom-layer blockchain technology, and install a
token incentive mechanism. DRC will enable more professional service providers to offer shared professional services to experts and
community members within its blockchain-based financial service ecosystem.
How it workshttps://i.imgur.com/pd06kLo.pngApplied technologies
DRC applies blockchain technology, smart contract, cryptography, big data analysis, and machine learning to professional application scenarios, e.g. using blockchain data structures to verify and store data, so that information is traceable and tamper-proof; using distributed nodes to update data to related nodes, such as investors, technical startups, or regulators; using cryptography to secure data transmission and accessing; using smart contracts based on the automated script code to program and operate data; and using big data to analyze and automatically obtain public information.
The DRC TOKENThe blockchain-base DRC token represents a right to use products and services. Under the core values of “Pay For What You Need”, “Receive For What You Do”, “To Each According To His Need”, “Get Paid For What Is Done”, and “Automatic Service
Trading Between Supply And Demand”, DRC is the medium for delivering the values of professional services. It also represents the creation of value in service provision, allocation and transfer of value, and the cashing and appreciation of value. In addition,the DRC incentive mechanism encourages the positive actions of community members,and adopts a stable currency mechanism to avoid impacts of price changes on professional service providers;
