A Blockchain based framework for Lending Digital Assets implemented using NFT
M. Darshan, S.R Raswanth, Priyanka D. Kumar, Gautam Srivastava · 2023
In recent times, digital assets have been on the rise. Crypto-enthusiasts have been investing in this market segment for quite some time. The returns from these investments for the investors cannot be fathomed. Blockchain Technology is one of the main pillars of the Industry 4.0 revolution. As of now, the entities can buy or sell digital assets but the ability to lend/rent a digital asset is still a question that needs to be addressed. With this motivation, we have proposed a framework as a solution that will allow owners to lend their digital assets to buyers by determining the ownership rights of the asset dynamically. This research work presents the comprehensible approach to the buyer-seller protocol using NFT smart contracts and blockchain technology, to provide proof of ownership and secure transferability in the marketplace.