• Data Provider Data Consumer 3rd Party

  Data Provider refers to an individual within the MCC ecosystem. After passing the KYC procedure, an individual can join the ecosystem Data Provider provides the following data to the ecosystem.

  Traditional credit information (annual income, asset status, credit score, etc.)

  Personal data (social media activities, expenditure on personal consumption, phone bill, etc.)

  Social/reputation data derived from the Seed Networking

  Data Consumer refers to a corporation in the MCC ecosystem. All Data Consumers are required to satisfy the basic rules and conditions for authentication to join the ecosystem. They can have an access to the data, specifically targeted fro their business purposes, as they pay the data subjects in MCC tokens.

  3rd Party refers to any individual or enterprise that processes the data generated within the MCC ecosystem for various purposes, e.g., data scraping technology provider, big data analyst, credit bureau, etc. 3rd Party will register the reasons for providing the data in the MyCreditChain ecosystem and ensure the integrity of it. Its reliability is examined and verified by MyCreditChain.
  3rd Party provides technologies and analytical data, and acts as a node operator within the ecosystem. 3rd Party will be compensated for contributing such features to the platform.

When Personal data is collected, it is cut into pieces, encrypted and stored in IPFS and on a personal device. Cutting data into pieces and storing each part separately enable safe storage of and quick access to the collected data. The collected personal data is accessible only if all pieces of it are aligned, thereby increasing its security. Thus, data breaches on IPFS will not leak the stored data. Information generated from the MCC Seed Networking will be encrypted and stored secure in a private blockchain.

Any participant can request an access to Trust Data from data subjects. To have a proper access to Trust Data, a requestor must get data subjects’ consent and pay them. When Data Consumers make a request for Trust Data, they shall set out terms and conditions for the request. Data subjects with the corresponding data will receive a notification. The Data subjects can check the terms and conditions, and consent to or veto the request via MCC App.

You cannot make changes to your personal information in the MCC ecosystem because your personal information stored within the ecosystem is directly collected from various organizations’ websites, by using MCC’s data scraping engine. Thus, the data handled within the MCC ecosystem is accurate and most up-to-date. If you were to make changes to your personal information in the MCC ecosystem, you must make changes to your personal data stored in the original sources.

Trust Data refers to the data generated within the MyCreditChain platform. Trust Data, verified its reliability and applicability by MCC, reflects a multi-dimensional depiction of an individual’s trustworthiness, which can be utilized for various purposes. It can be categorized into three types.

General Trust Data Data specifically targeted for Data Consumer’s needs, e.g., annual income, years of working, financial stability, social media information, etc. Data Consumers can use General Trust Data to implement their marketing strategy, and target their customers.

Packaged Trust Data Data Set selected from the entire data within to platform based on the need of a Data Consumer. With Packaged Trust Data, Data Consumers can get multi-dimensional depictions of their customers.

MCC Reliability Measure MCC Reliability Measure is generated via MCC Seed Networking. When MCC Reliability Measure and MCC Trust Data are combined, a new type of information that reveals individuals’ interpersonal networking is created. This unique quality of information, then, can be used for various purposes, such as loan service, recruitment, etc.

Any MCC user can join the MCC Seed Networking.

An individual will be given 5 seeds per day but there is no limit on the number of fruits one can receive from other users in a day.

• Seeds Fruits MCC Tokens

  Every individual within the MCC ecosystem is given five seeds at 00:00. They can be given to anyone in and outside the MCC network. Seeds do not have value in themselves unless they are given from someone else. If seeds are not given to someone within 24 hours, they will be evaporated. Also if one receives seeds from the same person two or more days in a row, the value of seeds will decrease.
  The seeds are to give and build relationship among MCC participants. The transactions of seeds and their flows will be utilized for MCC Reliability Measure.

  Fruit is a 1 : 1 ratio to MCC tokens, and is a medium of exchange within the MCC ecosystem. Seeds turn into Fruit when they are given from someone else. If one receives seeds from the same person two or more days in a row within 10 days, the value of fruit will decrease as follows.

  When receiving seeds from the same person two days in a row, the value of fruits received on the second day will be decreased to 1/10 of the initial value.

  When receiving seeds from the same person after 9 days, the value of fruits received on the 9th day will be decreased to 9/10 of the initial value.

  There will be no decrease in value after 10 days have passed from the initial receiving.

  It is an ERC20 based token and can be converted to a 1:1 ratio with the fruit. One can get MCC token by Seed Networking, or purchasing it from exchanges. 10,000 MCC tokens are distributed through the Seed Networking each day.