The problem creditCrunch solves

In today's expensive age, pocket money is sometimes insufficient for meeting everyday needs. There are sometimes cases where students are in urgent need of money while they are living in hostels and PGs and even if they are day scholars. So there is a need for such a platform that can provide small amounts of loans to students or similar groups of people. So that they can use it and repay that amount later.

Challenges we ran into

1. How to lower the interests of borrowers and maximize the profits of the lender
   Solution - We came up with the idea of scratch cards and refer and earn for this purpose.

2. How to maintain a good recovery rate
   Solution - Increase interest rate if not paid within the stipulated time period which is already sufficient for the given amount limits, Notifying users about repayment through SMS and Calls. In case not repaid after many notifications and increasing the time limit in case of emergency, the CIBIL will be affected.

3. How to ensure the safety of money of lender
   Solution - The platform will be based on blockchain and all the transactions will be through trusted and secured payment gateways only.