Blockchain

D-Lending Blockchain

Project Overview

While blockchain has pulled in world’s consideration as a result of its relationship with Bitcoin, it is presently being viewed as a practical innovation for the financial services industry. Right? So by observing this situation client came to InnovateInfinite with making a software application which makes a process of Lending and Borrowing cryptocurrency simpler and whoever is in need of some cryptocurrency they can make request in this portal and the lender could help by lending some cryptocurrency to the borrower.

This entire procedure of lending and borrowing is done in Decentralised way and no middleman charges are to be given to anyone. This blockchain project is a major shelter for money lenders and borrowers.

Is it accurate to say that it isn’t time when you let the blockchain do a large portion of the hard work?

Key Features

• Fast & easy
• No early Repayment Fees
• It is Trustworthy
• No middleman charges
• Efficient way for lending.

Business Requirement

• Client wanted a software application that helps lender & borrowers to lend cryptocurrency in easier way and with no middleman charges are to be given.
• Client also wanted to have a system which validates all the users and after the proposal is accepted from both the sides only then the lending can be done.
• Client also wanted to have 2 separate accounts for borrower & Lender

Development

After having a detailed information from the client, our analyst team & blockchain team have worked closely with the requirements and came up with idea of developing this easy to use software application for the lender & borrower.

Our Blockchain Team at InnovateInfinite used Ethereum & Metamask for the development and also decided to use smart contracts with help of which system can provide accurate results and also fast & secure cryptocurrency lending between the lender & borrower.

Solution:

On the basis of the detailed specification we at InnovateInfinite came up with a Blockchain & Smart Contract based solution. We decided to give 2 separate accounts for the lender & borrower and when the approval for the proposal is been accepted from both the sides only then the lending can be done for the cryptocurrency over some interest rates.

We decided to use Ethereum & Metamask because metamask provides the facility of wallet and also the address can be shown with addition to this, we have also written Smart Contract so that lender & borrower can determine if both the parties has accepted the proposal. After the confirmation from both the lender & borrower the crypto currency will be lended between them as agreed in the smart contract, no one can even change the contract after the publishment of it to blockchain.

Technologies:

• Ethereum
• Metamask
• Angular
• Smart Contracts

Reach us out If you need help with your Startup/Idea !

info@innovexxia.com