Decentralized Loan Management Application Using Smart Contracts on Block Chain

The most shocking events were was the recent discovery of the fraudulent activities in the Punjab National Bank. This is due to frequent systemic failures that detect human errors. Blockchain technology is the greatest solution for this issue. It is surprisingly common for the information settlement mechanism like SWIFT to be on a isolated ledger from the payment settlement mechanism. If the banks uses a ledger that stores information settlement distributed across all the participants, then the fraudulent user may reflect on all the available participants in the transactions, auditors and regulators. Our Paper is a Decentralised Loan Management Web Application (DApp) built on Ethereum blockchain which targets on preventing such fraudulent attacks on Loans sanctions by decentralising the processes. The security features authentication of the user identity, authentication of bank officials and multiple levels of verification of details are implemented using Public Key Infrastructure (PKI).