P2P Lending System on Blockchain

Authors

  • Linesh Patil  Department of Computer Engineering, Marathwada Mitra Mandal's College of Engineering, Pune, Maharashtra, India
  • Allan Pillai  Department of Computer Engineering, Marathwada Mitra Mandal's College of Engineering, Pune, Maharashtra, India
  • Shreejeet Honrao  Department of Computer Engineering, Marathwada Mitra Mandal's College of Engineering, Pune, Maharashtra, India
  • Prof. Jagruti Wagh  Assistant Professor, Department of Computer Engineering, Marathwada Mitra Mandal's College of Engineering, Pune, Maharashtra, India

DOI:

https://doi.org//10.32628/CSEIT228336

Keywords:

BlockChain, Smart Contracts, P2P lending, Ethereum

Abstract

Shared lending (P2P lending) have turned into a predominant elective supporting course for people and independent ventures with close to nothing or poor record of loan repayment. These financial technology items are strongly disrupting the way lending works and along these lines testing the strength of formal banking and monetary foundations. Blockchain 2.0, has a few fundamental elements for example, smart contracts, public and private layers and so forth that can improve P2P lending process by making the whole interaction more consistent, reducing handling time, lowering or in any event, wiping out middle monetary mediators and so forth. A Blockchain upheld framework is proposed in this paper by investigating the utilization of Blockchain 2.0 features in the P2P lending context , for example, in the job of data stream, advanced contracting, stage execution also, interface, risk the executives, systematization and guideline of P2P markets and so forth. While blockchain does not actually decrease credit risk, it can possibly further lower the time required to circle back in loan processing, lessen functional dangers in this way working on the proficiency of financing through decentralization, confided in records also, better estimating (of loan costs) for the moneylenders.

References

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IInternational Journal of Scientific Research in Computer Science, Engineering and Information Technology

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Published

2022-06-30

Issue

Volume 8, Issue 3, May-June-2022

Section

Research Articles

License

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This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

[1]
Linesh Patil, Allan Pillai, Shreejeet Honrao, Prof. Jagruti Wagh, " P2P Lending System on Blockchain, IInternational Journal of Scientific Research in Computer Science, Engineering and Information Technology(IJSRCSEIT), ISSN : 2456-3307, Volume 8, Issue 3, pp.120-125, May-June-2022. Available at doi : https://doi.org/10.32628/CSEIT228336