What are the 7 C's of credit?

Can you elaborate on the importance of the 7 C's of credit in the world of finance? Are these factors solely applicable to traditional lending or do they also play a role in the realm of cryptocurrency lending and borrowing? As a seasoned professional in this field, I'm curious to understand how these C's - Character, Capacity, Capital, Collateral, Conditions, Credit History, and Common Sense - can impact an individual's or a business's ability to secure funding, both in traditional and digital currency markets. Could you provide some real-world examples of how these principles are applied and how they differ in the cryptocurrency space?