Crowdfunding Platform Based on Blockchain Technology

Crowdfunding was born as an online fundraising strategy for small donations to support creative projects. The proposed solution uses blockchain technology to solve the current problems of crowdfunding sites. Unlike current platforms that lack donor guarantee policies and donor control over donated funds, the blockchain-based approach ensures safe, secure, and transparent crowdfunding. The work introduces interactive forms for creating, donating, and approving a campaign, which simplifies the process for campaign creators and donors. Donors can track their donations through recorded transactions that are stored as blocks on the blockchain. To curb the disadvantages of traditional fundraising methods, such as fees, risk of failure, and lack of control, blockchain is emerging as a decentralized solution to crowdfunding. This approach aims to eliminate the potential risks associated with traditional crowdfunding by using consensus-based segmentation, a digital wallet, and the security features inherent in blockchain technology. This paper includes studies of different crowdfunding platforms. The paper presents the proposed framework as a solution of the issues in traditional crowdfunding platforms. Further, paper shows flow of ethers in the proposed model and a smart contract which implements this proposed crowdfunding platform. This paper can be used in the organizations need for fundraising.