Paper 2018/655

Loamit: A Blockchain-based Residual Loanable-limit Query System

Lijing Zhou, Licheng Wang, Yiru Sun, and Pin Lv

Abstract

Currently, the blockchain technology is experiencing an exponential growth in the academia and industry. Blockchain may provide the fault-tolerance, tamper-resistance, credibility and privacy to users. In this paper, we propose a blockchain-based residual loanable-limit query system, called Loamit. Firstly, to the best of our knowledge, it is the first work to prevent that a client, who lacks the ability to repay, borrows an un-repayable amount of money from independent banks without releasing the personal privacy of client. Specifically, if a client wants to borrow a certain amount of money from a bank, then the bank can get the client's residual loanable-limit in the alliance of banks without knowing details of the client's previous loans and repayments. Secondly, most of data in Loamit is verifiable. Therefore, malicious banks can be checked out. Thirdly, Loamit is fault-tolerant since it may work smoothly as long as a certain number of banks are active and honest. Finally, we deploy the Loamit system on the Ethererum private blockchain and give the corresponding performance evaluation.