An approach for crowd funding using blockchain

¹ Professor , Department of Computer Science and Engineering, Easwari Engineering College[Autonomous] , TamilNadu , India ,
² Department of Computer Science and Engineering, Easwari Engineering College[Autonomous], Tamilnadu , India ,
³ Department of Computer Science and Engineering, Easwari Engineering College[Autonomous], Tamilnadu , India ,
⁴ Department of Computer Science and Engineering, Easwari Engineering College[Autonomous], Tamilnadu , India ,

¹ Correspondingauthor: skmishra@iisermohali.ac.in

Abstract

Contributing to charity is universally regarded as the moral thing to do. Moreover, billions of dollars are contributed every year as a result. Since the methods used by charitable organisations to collect donations are not always transparent to the public, they frequently struggle to gain the trust and attention of donors. This emphasises how crucial it is to address these problems to improve the transparency of the fundraising process and spending for contributors. A system built on the blockchain might be the solution to this issue. The shortcomings of the current distribution system served as the inspiration for this idea. We present a blockchain-based crowdfunding platform that we believe will be effective, open, and safe. This approach enables recognised charities to post their identities for investor verification in order to aid donors in avoiding funding to fake organisations. This is because blockchain limits other parties' capacity to tamper with, or even view, data, which is crucial for any organisation looking to increase the trust of its donor base. Nobody other than the trusted entity can edit or remove data once it has been stored in a blockchain. Investors, fundraisers, and fundraising platforms are all involved. Through the site, fundraising and charitable efforts are facilitated.