Scribd
Upload
270 views11 pages

Blockchain-Based Loan Management System With Smart Contracts

This document proposes a blockchain-based loan management system using smart contracts. The system allows admins to manage customers and loan requests, customers to apply for and receive loans, and all transactions to be securely recorded on the blockchain. It aims to provide a simpler, faster and more secure loan process compared to traditional systems. The system uses a backend of ASP.NET with MSSQL database and frontend of HTML, CSS and JavaScript. It follows a waterfall development model.

Uploaded by

Paras
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
270 views11 pages

Blockchain-Based Loan Management System With Smart Contracts

This document proposes a blockchain-based loan management system using smart contracts. The system allows admins to manage customers and loan requests, customers to apply for and receive loans, and all transactions to be securely recorded on the blockchain. It aims to provide a simpler, faster and more secure loan process compared to traditional systems. The system uses a backend of ASP.NET with MSSQL database and frontend of HTML, CSS and JavaScript. It follows a waterfall development model.

Uploaded by

Paras
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 11

Blockchain-based Loan Management System

with Smart Contracts

1) Background/ Problem Statement

n this paper, we proposed a loan


management system based on
blockchain namely
DApp. In real-time, the system
securely shares the details about
transactions by
organizing the network, this action
prevents the fraudsin the system.
Our proposed
system maintains the privacy of the
valuable customers by eliminating the
attackers or
frauds who injecting vulnerable data.
By our proposed system, the banks
in India can
be completely digitalized without
any hesitation from the hackers and
the attackers.
Thus, the integration of blockchain in
the loan management system
incorporates easier,
faster, and cheaper solutions, which
can be adapted by the existing banking
systems for
experiencing the high-level security
and privacy.
Providing a loan should be a simple process. One should check the
client’s eligibility to get the loan and then approve or deny the loan.
Once approved, the customer should receive the funds. However, in
traditional systems, this process is often chaotic for valid reasons. As
the customer base increases, servicing loans becomes complex.
Every customer has different terms and payment dates. Loan
management systems help automate the entire loan lifecycle. A
blockchain offers different protocol networks so the development of
the blockchain and its transactions do not interfere with live
transactions. These networks are used to develop, test, and deploy
smart contracts and other transactions.
Our Loan Management System based on blockchain with smart
contract securely shares the details about transactions by organizing
the network, this action prevents fraud in the system. In cirrus’s core
wallet, the admin creates an account for each user and updates the
wallet information in their profile and the transaction is done using the
Cirrus API.

2) Working of the Project

In this system, the admin can log in/log out from the system. They have
the authority to view, approve, block and delete the customers and
manage their requests for a loan. The list of all the customers can be
viewed by the admin those who have requested approval from the
admin and a contract will be created. The loan amount can also be
transferred to the customer.
The system will list down all the customers who have successfully
received loans and their payoff details to the admin. All the transactions
done by the customers can be viewed by them. Cirrus Core dashboard
contains all the information about cirrus core and the wallet details of
customers and the admin and they can view all the feedback of all the
customers.
The customer will need to register to log in to the system to apply for a
loan. The system will display the reminder of the pay-off date. The
customer can request a loan by sharing all their details such as the
reason for a loan, amount, duration of pay-off, personnel and income
details. The contract details and the transaction loan amount details
can be viewed by the customers.
All the transaction history can be viewed and the customer can share
their feedback with the admin. In this project, the front-end involves
Html, CSS, and JavaScript and the back-end involves ASP.NET. The IDE
used is Visual Studio and the database is MSSQL.

3) Advantages

- It is easy to maintain.
- It is user-friendly.
- The customer can easily apply for a loan.
- The integration of blockchain incorporates easier, faster,
and cheaper solutions.
- The system maintains the privacy of valuable customers by
eliminating attackers or frauds who inject vulnerable data.
4) System Description
The system comprises 2 major modules with their sub-modules as
follows:

 ADMIN

• Login
- The admin needs to log in to the system using login
credentials.
• Manage Customer
- Admin can view, approve, block and delete the customer
from the system.
• Manage Loan Requests
- The loan requests are listed here.
- Admin can view, approve and delete the loan requests.
• Create Contract
- The customers who have requested approval from the
admin will be listed and the contract will be created.
- Also, the loan amount can be transferred from this module.
• Customer's Details
- The list of customers who successfully received loans and
their payoff details can view by the admin.
• Transaction History
- The admin can view all the transactions made by customers.
• Cirrus Dashboard
- The cirrus dashboard will contain information about cirrus
core wallet details of customers.

• View Feedback
- Admin can view feedback of all customers.
• Logout
- The admin can log out from the system after finishing their
work.

 CUSTOMER

• Login
- The customer will log in to the system using their login
credentials.
• Register
- They will need to register to the system to apply for a loan.
• Home
- The main page of the customer module system will show the
reminder of the pay-off date here.
• Loan Request
- Customer can request a loan with details like (reason,
amount, Duration to pay off, Personnel and Income details).
• Contract Details
- Customer can view the Contract Details (Date, Time,
Duration, Interest amount, Loan amount, Admin wallet
details) and the transaction of loan amount details.
• Make Transaction
- Customer can make transactions from this module.
• Transaction History
- The transactions history will be listed in this module.

• Feedback
- The customer can share their experience of using the system
and suggestions about the loan facilities.
• Logout
- The customer can log out from the system after finishing
their work.
5) Project Life Cycle

The waterfall model is a classical model used in the system


development life cycle to create a system with a linear and sequential
approach. It is termed a waterfall because the model develops
systematically from one phase to another in a downward fashion. The
waterfall approach does not define the process to go back to the
previous phase to handle changes in requirements. The waterfall
approach is the earliest approach that was used for software
development.
6) System Requirements

I. Hardware Requirement

i. Laptop or PC
 Windows 7 or higher
 I3 processor system or higher
 4 GB RAM or higher
 100 GB ROM or higher

II. Software Requirement


ii. Laptop or PC
 Visual Studio 2019
 SQL Server Management Studio’s latest

7) Limitation/Disadvantages
- The user must add all their personal details and valid reason
when applying for the loan, otherwise, the loan will get
rejected.

8) Application – This application helps in loan management and


provides loan transaction security.

9) Reference
- https://www.researchgate.net/publication/333253621_LoC_-
_A_new_financial_loan_management_system_based_on_smart_con
tracts
- https://www.researchgate.net/publication/
355347165_Decentralized_Loan_Management_Application_Using_S
mart_Contracts_on_Block_Chain
- https://www.sciencedirect.com/science/article/abs/pii/
S0167739X18324233

You might also like