B-BANK: An Integrated, Advanced IT Solution for Enhancing Fund Flow to Borrowers with Financial and Goods Traceability and Transparency

Abstract

The primary reasons for the rise in bad loans are asymmetric information, poor monitoring of projects, and a lack of detailed profile evaluations of borrowers. Hence, it is necessary to improve the quality of information available to the lenders for monitoring both the project as well as profile details of the borrowers. The present study describes the usability of a blockchain-secured system (B-BankTM) for easily availing loans along with secured loan repayments, wherein the complete inventory, cash flow, and project progress can be monitored on a real-time basis. B-BankTM enables the optimisation of credit risk capital and empowers economic development. Pilot testing of the software also indicated a high degree of construct, usability, and reliability. Hence, this tool complies optimally at both theoretical as well as practical levels to bring about a positive change for loan borrowers and lenders along with ample opportunity for the government to gain tax through the GST payments.

Keywords: Traceability, Monitoring, Blockchain, Security, GDP, Finance

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