uLoan

Problem Statement

uLoan is a marketplace, where supply of capital (provided by lenders) meets capital demand (represented by loans from borrowers). uLoan sits in the middle abstracting away the loans from lenders and the capital provided from borrowers. In effect, lenders only see investment opportunities, while borrowers only see a rate at which they can borrow. The absence of collateral is mitigated by a credit score system (that isn't yet present in the project at the time of submission).

Solution

uLoan is composed of 3 parts: 1) a smart-contract were the core of the on-chain logic lives (see https://github.com/nathandem/uloan/blob/master/apps/uloan-contract/contracts/ULoan.sol), 2) a UI that both lenders and borrowers use to interact with the protocol (see https://github.com/nathandem/uloan/tree/master/apps/uloan-web), 3) a backend service in charge of finding match between loans and capital provided by lenders, this service is off-chain because matching is a computing intensive task (this service isn't ready at the time of the submission). Note: we plan to rely on a third-party for the unique identification and credit scoring of lenders (probably through a solution like bloom.co).