Loan Management Systems in PHP

Abstract:

Current financial loan management systems are usually deployed in a single-service mode, also the transactions are not transparent and traceable to most of the roles participating in the process. Their data privacy protection mechanisms are not robust enough facing various cyber attacks. To overcome these challenges, we propose loan on blockchain (LoC), a novel financial loan management system based on smart contracts over permissioned blockchain Hyperledger Fabric. We use the Chinese poverty alleviation loan as the case study. We design a digital account model for the transfer of assets between centralized and decentralized ledgers; and propose locking and unlocking algorithms for smart contracts. We introduce digital signature and oracle to protect the data privacy. Performance evaluations on chaincode and unlocking codes show that our system is applicable in the real financial loan setting.