Crowd Funding Website using Blockchain Technology

Crowd Funding Website using Blockchain Technology

1Prof. Nilesh Kambale, 2Tushar Varal, 3Saurabh Yamgar, 4Shubham Padwal , 5Girish Sharma

Sinhgad Institute of Technology and Science, Pune 411041, Maharashtra, India

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Abstract

This paper introduces a novel approach to crowdfunding through the integration of blockchain technology. Traditional crowdfunding platforms often face challenges related to trust, transparency, and security. By utilizing blockchain, a decentralized ledger system, these issues can be mitigated, fostering a more efficient and secure crowdfunding environment.

The proposed platform leverages smart contracts to automate and enforce the terms of crowdfunding campaigns, ensuring that funds are released only when predetermined conditions are met. Additionally, blockchain enables transparent tracking of funds, providing donors with real-time visibility into how their contributions are being utilized.

Furthermore, the decentralized nature of blockchain eliminates the need for intermediaries, reducing transaction costs and allowing for direct peer-to-peer interaction. This not only enhances the efficiency of the crowdfunding process but also democratizes access to funding opportunities, particularly for projects in underserved communities or regions.

Through a combination of blockchain technology, smart contracts, and decentralized governance mechanisms, the proposed crowdfunding platform offers a secure, transparent, and inclusive ecosystem for individuals and organizations to raise funds for a diverse range of initiatives. This paper discusses the technical architecture, key features, and potential benefits of such a platform, highlighting its potential to revolutionize the crowdfunding landscape.

Key Words:  Blockchain, Smart Contracts, Crowd Funding, Trusted Payment System, Ethereum, Solidity