Implementation of Blockchain in P2P Lending

Running head: BLOCK CHAIN
BLOCK CHAIN
Name of the Student
Name of the University
Author Note

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Abstract:
The purpose of this study is to find out the implementation of block chain in P2P lending.
The blockchain is geared up to reconstruct the model of the peer-to-peer disposal platform by
transfer a lot of trust and transparency to the system. firms like SALT disposal, Lendoit, and
Jibrel Network have already launched a peer to look disposal platform victimisation
blockchain and good contracts. It can be concluded that Using blockchain in peer to look
disposal might facilitate take away intermediaries from this system.

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Table of Contents
Introduction:...............................................................................................................................3
Translations:...............................................................................................................................4
Smart contract:.......................................................................................................................4
Ethereum networks:...............................................................................................................4
Collaterals:.............................................................................................................................5
Tokenization:..........................................................................................................................5
Proof of work:............................................................................................................................5
Network:.....................................................................................................................................6

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1 Introduction:
. For the previous few years, blockchain has seized the worldwide monetary markets
with its unquiet power to rework numerous industries. whereas multiple sectors have skilled a
positive impact on the blockchain, the disposal market is additionally able to be a component
of it. The blockchain is geared up to reconstruct the model of the peer-to-peer disposal
platform by transfer a lot of trust and transparency to the system. firms like SALT disposal,
Lendoit, and Jibrel Network have already launched a peer to look disposal platform
victimisation blockchain and good contracts (Beck et al., 2016). But why we have to
implement the blockchain in peer to look disposal and what may be the pain points within the
ancient lending process. In an ancient disposal method, folks need intermediaries’ sort of a
loan officer, banks, underwriter, and loan processor to create the trust. however, adding
middlemen and rules to the method of disposal results in the high fees. Using blockchain in
peer to look disposal might facilitate take away intermediaries from this system. Let’s
perceive however P2P disposal blockchain platform might facilitate create the lending
method a lot of economical (Böhme et al., 2015). Cost Reduction: Blockchain might scale
back the prices by permitting the borrowers to cope with lenders directly. Blockchain might
connect borrowers and lenders from everywhere the planet through a decentralised platform.
the complete P2P disposal blockchain method might become seamless and trustworthy.
The block chain has been becoming one of the hottest technologies at present day as
well as it is altering the traditional ways. The payments and coins have been the use cases that
is initial for block chain. Most of the services related to the block chain that are available,
revolving around those functions. The service like remitting services, coin exchanges and
processing of payment are presently maturing that the companies can explore confidentially
supporting the crypto currencies in the respective business of them. The bitcoin is also