TrustLend: Using Borrower Trustworthiness for Lending on Ethereum

Wisnu Uriawan, Wisnu Uriawan, Youakim Badr, Omar Hasan, Lionel Brunie

2022

Abstract

The practice of personal lending, also known as Peer-to-Peer (P2P) lending, has been increasing globally. However, providing unsecured loans to peers without requiring collateral remains a challenge. We present a platform called TrustLend, which enables using borrower trustworthiness as an alternative to collateral in personal lending transactions. TrustLend is a blockchain-based platform implemented on Ethereum. We introduce a borrower trustworthiness score with variable selection rules to help lenders decide on reliable candidates as borrowers. We describe the prototype implementation, which is a Decentralized Application (DApp) that uses smart contracts. The prototype demonstrates fundamental features and supports borrowers, recommenders, and lenders/investors in establishing loans and approvals. Finally, the prototype shows how end-users can easily access loans with minimum collateral without hidden costs and swift transactions.

Paper Citation

in Harvard Style

Uriawan W., Badr Y., Hasan O. and Brunie L. (2022). TrustLend: Using Borrower Trustworthiness for Lending on Ethereum. In Proceedings of the 19th International Conference on Security and Cryptography - Volume 1: SECRYPT, ISBN 978-989-758-590-6, pages 519-524. DOI: 10.5220/0011151900003283

in Bibtex Style

@conference{secrypt22,
author={Wisnu Uriawan and Youakim Badr and Omar Hasan and Lionel Brunie},
title={TrustLend: Using Borrower Trustworthiness for Lending on Ethereum},
booktitle={Proceedings of the 19th International Conference on Security and Cryptography - Volume 1: SECRYPT,},
year={2022},
pages={519-524},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011151900003283},
isbn={978-989-758-590-6},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 19th International Conference on Security and Cryptography - Volume 1: SECRYPT,
TI - TrustLend: Using Borrower Trustworthiness for Lending on Ethereum
SN - 978-989-758-590-6
AU - Uriawan W.
AU - Badr Y.
AU - Hasan O.
AU - Brunie L.
PY - 2022
SP - 519
EP - 524
DO - 10.5220/0011151900003283