Sustainably empowered crowdfunding through blockchain-enhanced security technology

¹ Department of Information technology, GRIET, Bachupally, Hyderabad, JNTUH, Telangana,India,500090.
² School of Applied and Life Sciences, Uttaranchal University, Dehradun, 248007, India

^* Corresponding author:

Abstract

A sustainable crowdfunding smart contract is a specialized type of smart contract that empowers individuals to contribute funds towards a specific work or venture while ensuring ecological and ethical longevity. The smart contract is meticulously programmed to establish the parameters of the crowdfunding campaign, encompassing the total funds requisite for project completion, the quantity of available tokens for acquisition, campaign duration, and token valuation. In alignment with sustainable principles, the contract orchestrates the transparent collection and distribution of funds. It unequivocally designates the blockchain address for fund allocation and delineates how these funds will be equitably apportioned among the project’s development team, thus promoting sustainable practices.Furthermore, the sustainable crowdfunding smart contract features a built-in mechanism to restore funds to contributors in the event that the project fails to achieve its funding target within the stipulated time frame. Upon campaign culmination, the smart contract autonomously dispenses tokens to contributors and allocates funds to the project’s development team, fostering an environment of trust and accountability. This sustainable approach leverages the power of smart contracts to streamline and automate the entire process, assuring contributors that their resources will be judiciously utilized for their intended purpose. A pivotal advantage of this innovative approach lies in the elimination of intermediaries, fostering heightened security for assets through a human-intervention-free programmed process. By combining blockchain technology as the foundational backend and leveraging solidity for smart contract implementation, this sustainable solution exemplifies the pinnacle of accuracy and reliability. Through this seamless integration of technology and sustainability, the paper presents a progressive paradigm in crowdfunding that resonates with environmentally conscious and ethically mindful principles.