SMALL DESCRIPTION OF PROJECT
Hi before we can proceed I will explain you what I need in my application. Basically we want to create a Peer 2 Peer platform, where borrower can put there crypto currency as collateral and take short term or long term loans, where lender gives loan according there budget. While they are receive only stable coins like USDT. For that we want unique wallet address for Bitcoin and USDT for every of my user.
PRODUCT NEED FOR PROJECT
1. Android Apps for borrower and lender(only one app)
2. Web based Admin Panel for administration purpose.
1. SMS Notification.
2. Internal Message System.
3. Push Notification System.
4. Both (Bitcoin & USDT) Wallet Security.
1. This project is mainly based on mathematically loan calculation and API for Crypto currency Rates.
First borrower can put there Bitcoin in there wallet and apply for the loan, as soon as borrower apply for the loan (short term or long term) it’s get reflected to lender dashboard. When borrower apply the loan the Bitcoin in its wallet get freeze until any lender transfer USDT to borrowers wallet or borrower cancel it. After successful disbursement of loan borrower have to pay there due amount before due date. If he fails it will goes to auction where lenders can bid for that collateral Bitcoin and after that winner bidder get auction bitcoin and transfer USDT to lenders wallet.