Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans
This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science, 2023.
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Brac University
2023
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| Mynediad Ar-lein: | http://hdl.handle.net/10361/21985 |
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10361-21985 |
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10361-219852023-12-17T21:02:25Z Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans Tasin, Md. Ishmam Hossain, Md. Rabib Chowdhury, Nahin Alam, S.M. Azwad-Ul- Ferdous, Md Sadek Department of Computer Science and Engineering, Brac University Microfinance Decentralized finance Blockchain Smart contracts Decentralized autonomous organization Decentralised application Ethereum Crypto wallet Uncollateralized loan Blockchains (Databases) Digital currency This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science, 2023. Cataloged from PDF version of thesis. Includes bibliographical references (pages 50-54). Microfinance, providing essential banking services to low-income and unbanked individuals, faces numerous challenges such as high-interest rates, cumbersome intermediary processes, and lack of transparency. Decentralized Finance (Defi) has recently been identified as a transformative technology with the potential to ameliorate these concerns and advance microfinance. In this paper, we present a layered Decentralized Application (DApp) designed using Defi to alleviate the security issues intrinsic to conventional microfinance. Our model enables uncollateralized lending to the unbanked population, thus tackling one of the significant barriers in traditional microfinance. In addition to discussing its design and architecture, we demonstrate the DApp on the Ethereum (ETH) network that supports open-source DApps. We then propose a detailed roadmap to reduce intermediaries, lower costs, improve loan accessibility, and engender a more transparent lending environment using blockchain technology. We also examine sustainable methods for uncollateralized loans in the microfinance space, focusing on regions such as Bangladesh. This research underscores the transformative power of Defi and blockchain in reshaping the microfinance landscape. Md. Ishmam Tasin Md. Rabib Hossain Nahin Chowdhury S.M. Azwad-Ul-Alam B.Sc. in Computer Science and Engineering 2023-12-17T06:37:15Z 2023-12-17T06:37:15Z 2023 2023 Thesis ID 23141062 ID 23141064 ID 19141004 ID 22341064 http://hdl.handle.net/10361/21985 en Brac University theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. 65 pages application/pdf Brac University |
| institution |
Brac University |
| collection |
Institutional Repository |
| language |
English |
| topic |
Microfinance Decentralized finance Blockchain Smart contracts Decentralized autonomous organization Decentralised application Ethereum Crypto wallet Uncollateralized loan Blockchains (Databases) Digital currency |
| spellingShingle |
Microfinance Decentralized finance Blockchain Smart contracts Decentralized autonomous organization Decentralised application Ethereum Crypto wallet Uncollateralized loan Blockchains (Databases) Digital currency Tasin, Md. Ishmam Hossain, Md. Rabib Chowdhury, Nahin Alam, S.M. Azwad-Ul- Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans |
| description |
This thesis is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science, 2023. |
| author2 |
Ferdous, Md Sadek |
| author_facet |
Ferdous, Md Sadek Tasin, Md. Ishmam Hossain, Md. Rabib Chowdhury, Nahin Alam, S.M. Azwad-Ul- |
| format |
Thesis |
| author |
Tasin, Md. Ishmam Hossain, Md. Rabib Chowdhury, Nahin Alam, S.M. Azwad-Ul- |
| author_sort |
Tasin, Md. Ishmam |
| title |
Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans |
| title_short |
Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans |
| title_full |
Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans |
| title_fullStr |
Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans |
| title_full_unstemmed |
Revolutionizing microfinance: a blockchain-driven decentralized finance (DeFi) model for collateral-free loans |
| title_sort |
revolutionizing microfinance: a blockchain-driven decentralized finance (defi) model for collateral-free loans |
| publisher |
Brac University |
| publishDate |
2023 |
| url |
http://hdl.handle.net/10361/21985 |
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