Blockchain-Based Crowdfunding Platform

Abstract

Crowdfunding has revolutionized fundraising for startups and social organizations by shifting from traditional approaches involving banks and investors to online platforms hosted on social media or dedicated websites. However, the proliferation of fraudulent fundraisers and illicit investors has eroded trust among governments and social workers. The emergence of blockchain technology in recent years has introduced a promising solution, ensuring fraud-free transactions between investors and fundraisers. Numerous blockchain-based crowdfunding initiatives have successfully raised funds through cryptocurrencies. This study focuses on a crowdfunding platform that harnesses the power of blockchain technology to facilitate decentralized, fast, and secure transactions. By employing arbitrary nodes within a network pool, this platform aims to overcome the challenges posed by fraudulent activities and establish a trustworthy ecosystem for fundraising. This research explores the implications, benefits, and potential challenges of such a blockchain-based crowdfunding system in the context of modern fundraising dynamics.