Fundraising Platform Using Smart Contract

Abstract

In recent years, blockchain technology has emerged as an innovative solution to transform systems across various fields. One area where blockchain shows immense promise is fundraising. Traditional fundraising methods often lack transparency, have inefficient fund disbursement processes, and remain vulnerable to fraud. These persistent issues undermine the trust of donors causing a huge decline in fundraising. To address these challenges, a fundraising platform utilizing smart contracts on a blockchain network might be a good solution. Due to the transparent nature of blockchain, all transactions involving the contract can be publicly viewed. This transparency prevents any potential misinformation or deception regarding the movement of funds in and out of the smart contract. The tamper-proof nature of blockchain provides security against manipulation or tampering. Moreover, since the smart contract is simply a program stored on a blockchain, it can contain a predefined set of functions to automate processes such as automatically transferring fund to fundraiser without the need of any third parties. All of this highlights the benefits of the smart contract and that is the purpose of the thesis, is to create a fundraising platform leverage these advantages of smart contract. This system aims to mitigate fraud, misuse of funds, and delayed distribution issues prevalent in traditional fundraising.