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CROWDFUNDING APPLICATION USING BLOCKCHAIN

Authors:

Prem Singh, Priyanshu Rander, Reece Rodrigues, Kashish Patel

Abstract—The value and sensitivity of people's data can be greatly altered by blockchain technology. Every transaction is irrevocably logged and time- and date-stamped. Smart contracts even have the ability to automate transactions, which will increase efficiency and hasten the process even more. The transaction or process advances to the following stage when pre-specified requirements are satisfied. With smart contracts, there is no longer any need for human intervention or reliance on outside parties to confirm that the terms of the contract have been met. The desire to provide a trustworthy, secured, transparent, and decentralized solution is achieved by developing a block chain-based crowd-funding web application. Transparency and security are issues that are of the utmost importance in any organization, especially those that provide crowd-funding platforms. This crowd-funding tool provides backers with the assurance that profits will be guaranteed, making it different from other applications that simply allow users to contribute their money. The application will also promote open communication between investors and start-ups so that investors can stay informed about how the projects of the various start-ups they funded are progressing. If the project is abandoned in the middle, the money will be returned to the backers.

Keywords—Blockchain, Crowdfunding, Smart Contract, EthereumAPI