Proof of Concept of Blockchain Integration in P2P Lending for Developing Countries

Blockchain in Finance: A Systematic Literature Review

“…While existing blockchain infrastructures are generally used, specialized blockchain infrastructures such as Dizar [21] are also used. Among the infrastructures for the use of blockchain in finance, Ethereum is seen in 14 studies [20,23,26,28,34,35,38,[40][41][42]45,[47][48][49], Corda R3 in 6 [18,26,30,32,37,48], Hyperledger Fabric in 5 [18,24,29,36,37,48], Ripple in 4 [26,30,44,47], Eos in 3 [20,23,42], Hyperledger Sawtooth in 2 [24,29], Stellar in 2 [20,30] and different blockchain infrastructures in others.…”

“…That's why, blockchain is often mentioned together with distributed ledger technology. As seen in Figure 7, the "Distributed Ledger" is expressed 20 times [22][23][24][25][26][27][28][29][30][31]33,37,40,41,43,44,[46][47][48]51], the "Financial" 3 times [44,46,47], the "Building information modeling" 2 times [39,50], the "Government" 2 times [41,43], the "Internet" 2 times [29,45] and other technologies is seen one time each. Figure 8 shows the relationship between blockchain infrastructures and the technologies used with blockchain.…”

“…As seen in Figure 9, the "Transparency" expression is included in 11 papers [22][23][24][25]27,37,[46][47][48][49]51], the "Low cost" expression in 11 papers [26,28,30,32,42,[45][46][47][49][50][51], the "Security" expression in 8 papers [24,25,32,34,36,38,47,49], the "Without intermediaries" in 8 papers [18,20,22,23,26,40,42,48], the "Immutability" in 5 papers [18,24,37,40,48], the "Resilience" in 4 papers [22,24,41,48], the "Decentralization" in 4 papers [23,…”

“…As seen in Figure 12, among the permission types for the use of blockchain in finance, the "Permissioned" is seen in 18 studies [18][19][20][21][22][24][25][26]28,31,32,36,38,40,41,45,47,48], and the "Permissionless" in 13 studies [20,23,24,26,30,34,36,40,42,[45][46][47][48] in the papers. Some blockchain infrastructures provide either permissioned or permissionless functions, while others provide both.…”

“…Potential future applications of blockchain technology in finance is seen Figure 14. Among these, the "Loans" is mentioned 3 times [20,34,50], the "Smart cities" 3 times [19,41,51], the "Anti money laundering" 2 times [26,43], the "Crowdfunding" 2 times [20,40], the "Know your customer" 2 times [23,26], the "Stablecoin" 2 times [20,44], the "Token-based economy" 2 times [46,49] and the other future applications once in the papers.…”