Utility Framework for Keeping Track of Organizational Funds

Third parties typically lack openness and trustworthiness when it comes to financing a project or research in many firms or organizations. The scope of the problem is not just restricted to companies/organizations but also government grants, college/university grants, or any entity where funds are involved. Blockchain technology can help to solve this problem by providing a secure and transparent platform for project financing. Our implementation makes use of an existing blockchain called Ethereum, and self-executing contract also known as smart contracts on which a semi-decentralized application relating to our subject is constructed. On many occasions, funds allocated for projects/research are not spent appropriately. So, we set out to create a project model that addresses such critical issues. The solution considered is to develop a semi-decentralized application that considers security features of decentralization and convenience of centralization on an existing blockchain that suits well which supports our cause. The result obtained can track the flow of funds in and out of any organization/company which can prevent many queries associated with the origin and destination of the fund.