Review of Peer-to-Peer (P2P) Lending Based on Blockchain

Victory, Timotius and Yazid, Setiadi (2024) Review of Peer-to-Peer (P2P) Lending Based on Blockchain. Jurnal Ilmiah Teknik Elektro Komputer dan Informatika (JITEKI), 9 (4). pp. 1154-1167.

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Peer-to-Peer (P2P) lending is a financing business model that has gained popularity in recent years due to the ease of loan application, disbursement, and repayment processes. The volume of Peer-to-Peer (P2P) Lending transactions has a significant growth with more than $103 billion in 2020, according to The Cambridge Centre for Alternative Finance (CCAF). A key distinguishing factor from traditional methods is the integration of technology in both application and repayment. One such technology gaining traction in Peer-to-Peer (P2P) lending is blockchain technology. The popularity of blockchain technology lies in its ability to enhance the transparency of the transaction process. This literature study aims to address three main questions: What are the characteristics of blockchain suitable for Peer-to-Peer (P2P) lending, the benefits of implementing blockchain technology in Peer-to-Peer (P2P) lending, and the challenges of Peer-to-Peer (P2P) lending based on blockchain. This paper uses a systematic literature review guided by well-defined inclusion and exclusion criteria to answer those questions. The findings reveal that there are characteristics of blockchain that can be applied to Peer-to-Peer (P2P) lending such as decentralized, transparency. It can bring numerous benefits to the overall Peer-to-Peer (P2P) lending process, such as eliminating intermediaries in the lending process. However, challenges persist in the implementation of blockchain technology in Peer-to-Peer (P2P) lending like implementing cross-platform, alternate collateral, and others. This research contributes by identifying key blockchain characteristics for Peer-to-Peer (P2P) lending integration, evaluating the benefits of blockchain in Peer-to-Peer (P2P) lending, and examining challenges faced comprehensively. These insights enhance the understanding of blockchain's role in Peer-to-Peer (P2P) lending.

Item Type: Artikel Umum
Subjects: T Technology > TK Electrical engineering. Electronics Nuclear engineering
Divisi / Prodi: Faculty of Industrial Technology (Fakultas Teknologi Industri) > S1-Electrical Engineering (S1-Teknik Elektro)
Depositing User: M.Eng. Alfian Ma'arif
Date Deposited: 04 Apr 2024 12:50
Last Modified: 04 Apr 2024 12:50

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