A blockchain-based loan application and result tracking system

Abstract

This invention relates to the field of financial technology, specifically to a blockchain-based loan application and result tracking system, comprising: a blockchain network, a multi-node network structure, smart contracts, a user front-end application, a data encapsulation module, a data recording module, a data encryption and access control module, and a query interface. The blockchain network enables decentralized data storage and sharing, with nodes including financial institutions, lenders, regulatory agencies, and third-party auditing institutions. The smart contracts are used to automatically execute the loan approval, recording, and notification processes. Users submit loan applications through the front-end application; after preliminary review, financial institutions encapsulate the data into data blocks and submit them to the smart contract for review. The data encryption and access control modules ensure the security of sensitive data. This system achieves high efficiency and transparency in loan approval, ensuring the immutability and security of data.

Description

Technical Field

[0001] The present invention relates to the field of financial technology, and in particular to a loan application and result tracing system based on blockchain. Background Art

[0002] In the field of financial credit, the application and management of loan results are important parts of the business process. However, in the loan application process of the existing credit system, the data authenticity verification cost is high, the processing time is long, and it is difficult for users to trace the results of the loan. In addition, once the information is stored in a centralized system, there may be a risk of data loss or tampering. To solve this problem, blockchain technology has been introduced into the field of financial credit with its decentralized, tamper-proof, and transparent distributed ledger characteristics. Blockchain technology can be used to verify the authenticity of loan application information, reduce transaction costs, and speed up processing. In addition, on a decentralized network, it can effectively prevent data from being tampered with at will, further improving data security and transparency.

[0003] The technical problems to be solved by the present invention are:

[0004] 1. Improve data authenticity and security: How to use blockchain technology to improve the authenticity of data involved in loan applications and prevent data tampering.

[0005] 2. Improve process transparency and account traceability: How to use blockchain to trace the entire process of loan applications and results, so that users can check the status of their loan applications.

[0006] 3. Reduce manual audit costs: How to automatically perform audit tasks through smart contracts to avoid time and cost losses caused by excessive manual intervention.

[0007] 4. Quick loan approval and feedback: How to improve the speed of loan approval and quickly feedback the approval results to users. Summary of the invention

[0008] The present invention relates to a blockchain-based loan application and result tracing system, which aims to solve the problems of low efficiency, lack of transparency and data security in the traditional loan approval process. By introducing blockchain technology, the full-process automated review and transparent recording of loan applications can be achieved.

[0009] System Architecture The system adopts a private blockchain or alliance chain architecture, including multiple participating nodes: financial institution nodes, lender nodes, regulatory agency nodes and third-party audit agency nodes. Each node participates in network maintenance and data storage through peer-to-peer communication technology to achieve decentralized data storage and sharing.

[0010] Smart Contracts Smart contracts are the core module of the system, responsible for automating the review, recording and notification process of loan issuance. Smart contracts contain review rules and logic, such as interest rate ranges for loan requests and credit score requirements for applicants. Through smart contracts, the loan approval process can be automated, paperless and real-time, reducing manual intervention and improving efficiency.

[0011] Loan application process

[0012] Users submit loan applications through the financial institution's front-end application, including basic information such as loan amount, term, interest rate, etc.

[0013] The financial institution conducts a preliminary review of the user's application. Once the review is passed, the application information is packaged into a data block and submitted to the smart contract on the blockchain network for further review.

[0014] Smart contracts automatically review the content in the data block according to the predetermined review rules and make a decision to approve or reject. If the application passes the review, the smart contract automatically approves the loan and records it on the chain. If the application is rejected, the relevant rejection information and reasons are recorded on the blockchain.

[0015] Data Recording and Security All loan processing results (whether approved or rejected) are permanently recorded on the blockchain, forming an unalterable record. The system uses data encryption and access control mechanisms to ensure the security of sensitive data and that only authorized parties can access specific information.

[0016] The query and traceability system provides a query interface, and the user interface allows users to query the status and results of their loan applications. At the same time, regulatory audit agencies can access all loan records on the blockchain through an open API to check compliance and conduct audits.

[0017] The push notification system automatically notifies users by email, SMS or other means when their loan applications are approved or rejected. In addition, regulators can send notifications to financial institutions based on audit results to ensure compliance with regulations.

[0018] Through the above-mentioned architecture and process, the present invention greatly improves the efficiency and transparency of the loan approval process, enhances user experience and data security, and achieves the effect of loan processing in seconds and instant information disclosure.

[0019] Beneficial effects of the present invention:

[0020] 1. Improved loan approval efficiency: Smart contracts are used to automatically handle the review process under unified standards, significantly shortening the approval time.

[0021] 2. Enhanced security and transparency: The data cannot be tampered with and is traceable, which increases the security and transparency of the system.

[0022] 3. Data authenticity is verifiable: Users and regulators can ensure the authenticity of loan information by cross-verifying data on the blockchain.

[0023] 4. Enhanced user trust: It adds a foundation of trust to financial credit activities, because users can be confident that the information they provide can be processed accurately and the approval process is open and transparent.

[0024] Through this system, institutions can provide users with fast and reliable loan services, significantly improving user experience while reducing operating costs and risks. BRIEF DESCRIPTION OF THE DRAWINGS

[0025] In order to more clearly illustrate the technical solutions in the present invention or the prior art, the drawings required for use in the embodiments or the description of the prior art will be briefly introduced below. Obviously, the drawings in the following description are only for the present invention. For ordinary technicians in this field, other drawings can be obtained based on these drawings without paying creative work.

[0026] Figure 1 It is a schematic diagram of the overall process of an embodiment of the present invention. DETAILED DESCRIPTION

[0027] The present invention is described in detail below in conjunction with the accompanying drawings and specific embodiments. At the same time, it is explained here that in order to make the embodiments more detailed, the following embodiments are the best and preferred embodiments, and those skilled in the art may also adopt other alternatives to implement some known technologies; and the accompanying drawings are only for more specific description of the embodiments, and are not intended to specifically limit the present invention.

[0028] It should be noted that the references to "one embodiment", "an embodiment", "an exemplary embodiment", "some embodiments" and the like in the specification indicate that the embodiments described may include specific features, structures or characteristics, but not every embodiment may include the specific features, structures or characteristics. In addition, when a specific feature, structure or characteristic is described in conjunction with an embodiment, it should be within the knowledge of a person skilled in the art to implement such feature, structure or characteristic in conjunction with other embodiments (whether or not explicitly described).

[0029] In general, a term can be understood, at least in part, from its use in context. For example, depending, at least in part, on the context, the term "one or more" as used herein can be used to describe any feature, structure, or characteristic in the singular sense, or can be used to describe a combination of features, structures, or characteristics in the plural sense. Additionally, the term "based on" can be understood as not necessarily intended to convey an exclusive set of factors, but can instead, depending, at least in part, on the context, allow for the presence of other factors that are not necessarily explicitly described.

[0030] Example 1

[0031] like Figure 1 The process of this system is as follows:

[0032] 1. User submits application: The user submits a loan application through the interactive interface.

[0033] 2. Financial institution interface: Financial institutions conduct preliminary checks and verify information based on the applications received.

[0034] 3. Generate data blocks: Financial institutions will encapsulate the reviewed application information into data blocks and prepare to upload them to the chain.

[0035] 4. Smart contract review: The smart contract is responsible for automatically reviewing the content in the data block and deciding whether to approve or reject the loan application.

[0036] 5. Loan application on-chain: If the loan application passes the review, the smart contract will add the information to the blockchain network.

[0037] 6. Rejection of loan application: If the loan application is rejected, the relevant rejection information will also be recorded and notified to the applicant through the notification system.

[0038] 7. Secure data storage: All relevant data (whether it is the application or its review results) are stored in the blockchain to ensure the permanence and security of the data.

[0039] 8. Result query and traceability: Users and regulators can access stored data through the query interface to understand the application status.

[0040] 9. Regulatory audit query: Regulators can access the system in real time to query all loan records stored on the blockchain to ensure the compliance and transparency of the system.

[0041] 10. Notification push service: The system will automatically send notifications to users to inform them of the review results of their loan applications.

[0042] 11. User receives notifications: Users receive all notifications from the system, whether they are approved or rejected, ensuring a closed-loop communication and user satisfaction.

[0043] Through this flowchart, we can clearly see the operation process of the entire system. Through the refinement of interaction and information flow, each module can work together efficiently to realize the functions of loan application, result tracing and risk management, ensuring the efficiency, security and reliability of the system.

[0044] A blockchain-based loan application and result tracing system adopts the following technical solutions:

[0045] 1. System construction and blockchain network deployment

[0046] 1. Build a blockchain network:

[0047] Building a private blockchain or consortium chain involves multiple parties such as financial institutions, lenders, regulators and third-party auditors.

[0048] The network uses peer-to-peer communication technology to achieve decentralized storage and sharing of data.

[0049] Example:

[0050] Suppose a financial alliance includes 4 banks, 1 regulator and 2 auditing agencies. These institutions jointly form a blockchain network, and each institution has a node to participate in network maintenance and data storage.

[0051] 2. Define smart contracts:

[0052] Develop smart contracts to automate the review, recording and notification processes of loan issuance.

[0053] The contract defines the rules and logic that need to be followed in the loan process.

[0054] Example:

[0055] A lending smart contract might stipulate that a loan will be approved only if the interest rate requested is within a certain range and the applicant’s credit score meets certain standards.

[0056] 2. Submission and uploading of loan applications

[0057] 1. User submits application:

[0058] Users submit loan applications through the financial institution's front-end application, including basic information such as loan amount, term, interest rate, etc.

[0059] Example:

[0060] User A wants to apply for a loan of 100,000 yuan for daily consumption with a term of 5 years.

[0061] 2. Financial institution review and data packaging:

[0062] Financial institutions conduct preliminary compliance and authenticity reviews of users' applications.

[0063] After the review is passed, the application information will be encapsulated into a data block.

[0064] 3. Submit data blocks to smart contract for review:

[0065] The financial institution submits the packaged data block to the smart contract on the chain for further review.

[0066] 3. Smart Contract Processing Application

[0067] 1. Smart contract review:

[0068] Smart contracts automatically review the content in data blocks and make approval or rejection decisions based on different parameters and rules.

[0069] Example:

[0070] The smart contract checks A's credit score (credit data already available at the financial institution) and finds that the score is 700, which meets the loan requirements. At the same time, it proposes a loan interest rate of 3.5%, which is in line with the market interest rate range.

[0071] 2. Execution of loan or rejection:

[0072] If the application passes the review, the smart contract automatically approves the loan and records it on the chain.

[0073] If the application is rejected, the relevant rejection information and reasons will be recorded on the blockchain.

[0074] 4. Data Recording and Secure Storage

[0075] 1. Record the loan results on the blockchain:

[0076] Whether approved or rejected, all processing results are permanently recorded on the blockchain, forming an unalterable record.

[0077] 2. Data encryption and access control:

[0078] Encrypt sensitive data for added security.

[0079] Access control mechanisms ensure that only authorized parties can access specific information.

[0080] 5. Result Query and Tracing

[0081] 1. Provide users with query interface:

[0082] Provide a user interface that allows users to check the status and results of their loan applications.

[0083] Example:

[0084] User A received an email notification and logged into the system to see that his loan application had been approved. He could also see the entire application and approval process on-chain.

[0085] 2. Regulatory audit interface:

[0086] Regulatory auditing agencies can access all loan records on the blockchain through open APIs to check compliance.

[0087] 6. Notification Push

[0088] 1. Real-time push notifications:

[0089] When a loan application is approved or rejected, the system automatically notifies the user via email, SMS or other means.

[0090] 2. Audit Notice:

[0091] Regulators may also send notices to financial institutions based on audit findings to promote compliance operations.

[0092] Through the implementation of this series of steps, financial institutions can effectively improve the efficiency and transparency of loan approval, and users and regulators can also conduct real-time queries and audits through blockchain technology, thereby achieving loan processing in seconds and instant information disclosure.

[0093] The present invention covers any substitution, modification, equivalent method and scheme made on the essence and scope of the present invention. In order to make the public have a thorough understanding of the present invention, specific details are described in detail in the following preferred embodiments of the present invention, but those skilled in the art can fully understand the present invention without the description of these details. In addition, in order to avoid unnecessary confusion about the essence of the present invention, well-known methods, processes, procedures, components and circuits are not described in detail.

[0094] The above is only a preferred embodiment of the present invention. It should be pointed out that for ordinary technicians in this technical field, several improvements and modifications can be made without departing from the principle of the present invention. These improvements and modifications should also be regarded as the scope of protection of the present invention.

Claims

1. A blockchain-based loan application and result tracing system, characterized in that: include: Blockchain network for decentralized data storage and sharing; Multiple nodes, including financial institution nodes, lender nodes, regulatory agency nodes, and third-party audit agency nodes, each of which participates in network maintenance and data storage; Smart contracts are used to automate the review, recording and notification process of loan issuance; A front-end application for users to submit loan applications, which include basic information such as loan amount, term, interest rate, etc. The data encapsulation module is used to encapsulate the application information approved by the financial institution into data blocks and submit them to the smart contract on the blockchain network for further review; Data recording module, used to record loan results on the blockchain; Data encryption and access control module, which is used to encrypt sensitive data and ensure that only authorized parties can access specific information through access control mechanisms; The query interface and user interface are used by users to query the status and results of their loan applications. Regulatory auditing agencies can access all loan records on the blockchain through the open API.

2. According to the blockchain-based loan application and result tracing system of claim 1, it is characterized in that: The smart contract automatically reviews loan applications and makes decisions on approval or rejection based on parameters such as the user's credit score and loan interest rate.

3. According to the blockchain-based loan application and result tracing system of claim 1, it is characterized in that: The query interface provides the function for users to view their loan application and approval process after logging into the system.

4. According to claim 3, a blockchain-based loan application and result tracing system is characterized in that: The data encryption and access control module uses an asymmetric encryption algorithm to encrypt sensitive data.

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