Crowdfunding using Blockchain Technology
Bhogineni Sankha Chakradhar, V. Hari Sai Vinathi, Sandeep Kumar, S. Nikhil, Vellampalle Pravallika, Y. Deepika · International Journal of Advanced Research in Science Communication and Technology · 2023
Crowdfunding is an online method of raising funds that was initially intended for individuals to contribute small amounts of money to support innovative projects. This fundraising method allows people to invest in entrepreneurial ventures through an intermediary platform. However, the current issue with traditional crowdfunding methods is that the third-party intermediaries do not guarantee the money invested by the backers, and the investors do not have control over their contributions. This paper proposes a blockchain-based crowdfunding solution to provide a private, secure, and decentralized platform for crowdfunding. The main aim of this paper is to enable investors to contribute to any project efficiently by creating smart contracts that give them control over their invested funds. Additionally, both project creators and investors can effectively manage and allocate funding for the project