Blockchain based Loan Management System with Smart Contracts

Blockchain based Loan Management System with Smart Contracts

Abstract:

This project develops a blockchain-based Loan Management System with Smart Contracts. To simplify and speed up loan approval. As customer base grows, traditional loan management systems struggle to handle complex loan servicing. This system automates the loan lifecycle using blockchain and smart contracts to protect transactions.

Introduction:

Eligibility checks and loan approval should be simple. Existing systems struggle to handle the growing customer base and their varied terms and payment dates. A blockchain-based solution addresses these issues. Blockchain provides protocol networks for developing, testing, and deploying smart contracts and other transactions without disrupting live transactions.

Objectives:

This project will create a Loan Management System using blockchain and smart contracts to simplify and streamline loan approval. The system automates tasks and secures transactions to improve efficiency, fraud, and customer experience.

Project Details:

Blockchain-based Loan Management System with smart contracts organizes the network to securely share transaction details, preventing fraud. The admin creates user accounts and updates wallet information in user profiles using Cirrus’s core wallet. Cirrus API transfers funds securely and seamlessly.

The admin can log in/out, view, approve, block, and delete customers, and manage loan requests. The admin can see all customers who have requested approval and create contracts for them. The admin can also transfer loan amounts to customers and view a complete list of loan recipients and their payoffs. System users can view their transaction history. The Cirrus Core dashboard displays customer and admin wallet details. The dashboard displays all customer feedback.

Register and log in to apply for a loan. Customers can keep track of loan repayments with pay-off date reminders. Customers can request a loan by providing the reason for the loan, the desired amount, the pay-off period, and their personnel and income information. Customers can view contract and transaction loan amount details. Customers can also view their transaction history and give admin feedback to improve.

The front-end uses HTML, CSS, and JavaScript, while the back-end uses ASP.NET. MSSQL is the database management system, and Visual Studio is the IDE.

Conclusion:

The blockchain-based Loan Management System with Smart Contracts aims to streamline loan approval. The system automates loan-related tasks using blockchain and smart contracts, ensuring secure and efficient transactions. The system simplifies user experience, transaction tracking, and fraud prevention for admins and customers. This project provides a digital loan management solution with its front-end and back-end technologies.

Note: Please discuss with our team before submitting this abstract to the college. This Abstract or Synopsis varies based on student project requirements.