Roles and Tasks of Peer-to-Peer Lending Platforms in Activating Green Finance

Abstract

AbstractThe peer-to-peer (P2P) lending platform utilizes new processes to provide financial resources from fund providers to financial consumers. In Korea, the “Online Investment-Linked Financial Business Act” was enacted for the first time globally to vitalize the P2P lending platform. Through this, a legal definition for P2P finance was “online investment-linked finance business.” As seen in the cases of P2P lending platforms in Korea, Sweden, the United Kingdom, and the United States, P2P lending platforms can contribute to the vitalization of green digital finance because they utilize information technology and the Internet in the lending market. However, given that the P2P lending platform is a new financial service, it will take time to be activated because of various regulations and obstacles. In the case of green digital finance, the P2P lending platform is a new industry business model, so it is necessary to gather information as a fundraiser from the beginning. It is considered that P2P lending platforms will create a productive synergy by combining new technologies such as the Internet of things, big data, and artificial intelligence.KeywordsP2P lending platformOnline investment-linked financial business actGreen digital finance