The problem Open Bank solves

Banks serve as intermediaries between borrowers and lenders in today's world. Bank officials have the decision-making authority rather than the free market appetite. Loans were based on the borrowers caste, race, religion, and gender rather than their financial statement credibility.
There are a number of issues with centralised banking systems. Banks generally demand a higher safety mortgage when giving loans; this results in limited growth opportunities for small-scale companies that could otherwise thrive. Thus, Open Ocean offers a medium in which the borrower can receive loans only and only on the basis of their financial credibility.

Challenges we ran into

One major issue faced by us was that one of our smart contracts failed to function due to JSON module. We re-wrote the JSON module and solved the issue.