Crowd-funding Website using Blockchain
Prof. Ritesh Shrivastava , Mohammad Faiz , Sayed Adeeb Ali, Mohammad Amish Sheikh, Mohammad Avesh Sheikh, Ziya Ur Rehman, Zherosh Sheikh
Department of Computer Science & Engineering, Anjuman College of Engineering & Technology Nagpur ,Maharashtra ,India
Abstract- The Crowdfunding has become a popular way for individuals and organizations to raise funds for their projects and initiatives. However, existing crowdfunding platforms have limitations such as high fees, lack of transparency, and centralized control, which can discourage potential donors.
To address these limitations and create a more inclusive and accessible fundraising platform, a crowdfunding website using blockchain technology can be developed. Blockchain provides a secure and decentralized platform where donors can directly contribute to projects without intermediaries.
The blockchain's tamper-proof nature ensures that all transactions on the platform are transparent and secure. It also eliminates intermediaries, reducing transaction costs, and increasing the speed of transactions. Smart contracts can ensure that funds are allocated appropriately, and project creators meet their fundraising goals before receiving funds.
The crowdfunding website will provide an intuitive interface where project creators can list their projects, set fundraising goals, and offer rewards to donors. Donors can contribute using various cryptocurrencies or fiat currencies and will receive tokens representing their contributions.
To ensure donors have confidence in the projects they support, the website will have a rating system where donors can rate projects based on quality and potential impact. This system will ensure high-quality projects receive the necessary funding.
In conclusion, the crowdfunding website using blockchain technology can revolutionize the crowdfunding industry by providing a secure, transparent, and decentralized platform. It can empower individuals and organizations to raise funds for their projects and initiatives and democratize the fundraising process.
