A decentralised money lending platform built on the Ethereum blockchain.
Objective: To implement an effective decentralized money lending platform. Implementation: We thought of implementing an decentralized money lending platform with deadline and asset storage and verification facilities. We implemented it's basic version using Ethereum (a decentralized Blockchain platform). Our current project supports lending, borrowing, paying debts currently it does not support deadline facility. We have also built basic Asset declaration smart contract which maps a document hash (Assuming every property has a document, whose hash is uploaded to the Blockchain for verification purposes. The contract simulates a company taking money from the lenders and lending it to borrowers and thus earning commission in the process.
Future Improvements: We are planning to improve our asset storage and verification process, also we are planning to add deadline facility in near future which will help the contract owner as well as borrower the facility of alarm which will inform him about paying debts.
Quick guide: Instructions to run the code Basic requirements: i) testrpc ii)npm,node-js, web3js iii)truffle Steps to follow:
1) Start "testrpc" in one terminal by typing just 'testrpc'.
2) Open another terminal and go into project directory then run the following commands one by one: i) run the command: > truffle compile (this will compile the contract codes in /contract directory)
ii)run the command: > truffle migrate (it will deploy the contract locally)
iii)runt the command: > System.deployed() (Copy the contract address from o/p and initialize each 'contract_address' variable in all js files(i.e first line variables of : public/javascripts/lenderjs.js and public/javascripts/borrowerjs.js).
iv)run the command: > Asset.deployed() (copy the contract address from o/p and each 'contract_address' variable in asset.js and verify.js files stored in 'public/javascripts/' directory.
3) Now start another terminal and go to the project directory and run the project using nodejs using the command: > node server.js (this file will start project on localhost:8000).
4) Now can be accessed using:
i)localhost:8000/lender (this will open lender services such lend,withdraw, register etc)
ii)localhost:8000/borrower (this will open borrower services such as borrow,pay_debts,register etc)
iii)localhost:8000/asset (this will open the asset registration form)
iv)localhost:8000/verify (this will open the page to verify the ownership of asset)