CALOSYS — A Robust Blockchain-based Marketing Loan Ecosystem for Small Businesses
Kiarash Shamsi, Koosha Esmaeilzadeh Khorasani, Sara Rouhani, Cüneyt Gürcan Akçora · 2023
Entrepreneurship is on the rise due to technological advancements, greater access to funding, and a growing emphasis on innovation and self-employment. However, attracting customers in a highly competitive market remains a significant challenge for many small and medium-sized enterprises (SMEs). While seeking loans for marketing operations may seem like a viable solution, there is no guarantee for success due to various challenges, such as audience reception, market competition, and shifting trends. To address these issues, we propose a groundbreaking system called “Calosys,” a blockchain-based P2P lending platform that employs augmented reality (AR) and smart contracts to create a token-based loan system that caters to entrepreneurs' marketing needs. Our system employs innovative lending processes, utilizing smart contracts that ensure secure transactions while allocating loan money for small business marketing activities. By utilizing augmented reality (AR), Calosys enhances customer engagement, boosting success rates and benefits for all stakeholders involved.