Block-Chain Based Crowd-Sourcing Loan Platform with Settlement Process Optimization

ABSTRACT

The platform has undergone a comprehensive security examination that highlights its ability to withstand common cyberattacks and operational concerns. The examination shows the robustness and efficiency of the platform through numerical results and simulations. The platform guarantees the preservation of data integrity and user privacy through the utilization of sophisticated encryption techniques and consensus procedures. Furthermore, by using smart contracts, the platforms reliance on blockchain reduces the danger of loan default. These agreements provide an extra degree of protection for both lenders and borrowers by automatically enforcing the terms of the loan agreement and often including options for loan forgiveness under particular circumstances.

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