Conference Paper2025

Enhancing Consumers’ Financial Accessibility with Blockchain-Powered Credit Scoring: A Decentralized Method for Approval of Personal Loans

Sanjidul Alam Chowdhury, Md Hadiur Rahman Hamim, Shohan Islam Joy, Md Shakil Ahmed, Md Junayed Hossain, Ashraful Islam, Sanzar Adnan Alam

2025 7th International Conference on Blockchain Computing and Applications (BCCA)

IEEE, pp. 603-608

  • Reduced Inequalities — Relevance: 77%
DOI: 10.1109/bcca66705.2025.11229632URL

Abstract

Credit allowances for individuals who are seeking financial opportunities are vital for their growth and sustainability. Traditional credit scoring systems don’t allow them to get personal loans, as individuals lack collateral or have a limited financial history. This paper approaches a novel solution that makes use of blockchain technology to overcome these issues and improve individuals’ access to financing. The main benefits of blockchain technology are transparency, security, and decentralization, which have the potential to completely transform the credit rating system. We aim to develop a decentralized credit scoring system that incorporates a wide range of parameters by combining international standard scoring systems like FICO and EQUIFAX to make it more efficient. Moreover, the decentralized credit scoring system ensures data integrity and security, reducing the risk of fraud and manipulation in the credit scoring process.

Keywords

  • credit scoring
  • consumer credit
  • Equifax
  • fraud prevention
  • Financial inclusion
  • Blockchain
  • data integrity

CCDS Authors

Ashraful Islam, PhD
Ashraful Islam

Ashraful Islam, PhD

  • Center Director, CCDS
  • Director, HCI Wing

Assistant Professor

Department of Computer Science and Engineering

Independent University, Bangladesh (IUB)

Published at

CHI, UIST, UbiComp, IJCNN, ICIP, HCII, ICDMW, BLP, IEEE Internet of Things Journal, JMIR, JMIR Human Factors, JMIR Formative Research, IEEE Access, Smart Agricultural Technology, Diabetes Research and Clinical Practice, PLOS ONE

Research Interests

Human-Computer Interaction, AI for Social Good, AI for Public Health, AI for Impact

Sanzar Adnan Alam
Sanzar Adnan Alam

Sanzar Adnan Alam

  • Co-Director, IPT Wing

Senior Lecturer

Department of Computer Science and Engineering

Independent University, Bangladesh

Published at

HCII

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