A consortium blockchain paradigm on hyperledger-based peer-to-peer lending system

Abstract

This paper focuses on how to use consortium blockchain to improve the regulation of peer-to-peer (P2P) lending market. The partial decentralized consortium blockchain with limited pre-set nodes can well improve transparency and security, which is suitable for financial regulation. Considering irregularities of the P2P lending market, the Hyper-ledger-based Peer-to-Peer Lending System (HyperP2PLS) is proposed. First elaborate the application scenario and business logic of the system, where a national P2P Lending Trading Center will be established to integrate all transactions and information of P2P lending market. Then construct the system architecture consisting of the blockchain network, HTTP server, and applications. The algorithm of implementation process and the web application for users have been well illustrated. The performance analysis shows that HyperP2PLS can guarantee the reliability, safety, transparency and efficiency.