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2022 | OriginalPaper | Chapter

Trading 4.0: An Online Peer-to-Peer Money Lending Platform

Authors : Christian Malakani, Antoine Bagula, Olasupo Ajayi, Hloniphani Maluleke

Published in: e-Infrastructure and e-Services for Developing Countries

Publisher: Springer International Publishing

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Abstract

Online money lending platforms also referred to as peer-to-peer lending platforms are a mean of lending and borrowing money between private individuals mostly via an online web-based platform. Transactions are often done without the direct arbitration of financial institutions, such as banks or other financial agencies. In 2005 the first money lending platform called Zopa was created in the United Kingdom, and several other have since followed. The exponential growth of Internet has been instrumental to the widespread adoption of peer-to-peer lending, as transactions can now be carried from anywhere via the Internet. However, despite the comfort, security of transactions and fraud prevention is still a challenge. The objective of this paper is to develop a Cloud-based money lending platform using both direct and reverse auction mechanisms based on blockchain technology to secure transactions between lenders and borrowers. The developed prototype uses knapsack and perfect sum algorithms in both direct and reverse auctioning mode, to determine the least compromising match between loan requests and offers. After rigorous testing, obtained results showed that indeed the system can meet user requirements in a secure manner.

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Metadata
Title
Trading 4.0: An Online Peer-to-Peer Money Lending Platform
Authors
Christian Malakani
Antoine Bagula
Olasupo Ajayi
Hloniphani Maluleke
Copyright Year
2022
Book
e-Infrastructure and e-Services for Developing Countries

Print ISBN: 978-3-031-06373-2

Electronic ISBN: 978-3-031-06374-9

Copyright Year: 2022

DOI
https://doi.org/10.1007/978-3-031-06374-9_10

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