Blockchain Integrated Crowdfunding Platform for Enhanced Secure Transactions

ABSTRACT

Building a project starts with innovation and idea but funding is a part that decides the evolution of the project from idea to product. During the last decade funding campaign and project via crowdfunding has become a common theme. With the COVID situation, it has become a necessity for NGOs, campaigns, projects, start-ups to consider the concept of crowdfunding and build seed funds through it, therefore organizations are trying to create a safe, secure, and fraud-proof gateway for people to get funds and as well as provide funds, which is hard in the current time of pandemic and technical advancements. It has become quite easy to fall into a trap and lose your hard-earned funds with cybercrimes as identity fraud, theft of financial data, and internet fraud. This work is an attempt to create a secure, efficient, and viable tool for crowdfunding. The solution proposed has Blockchain integrated to build trust among the funders and those raising these funds, with its characteristics as decentralized, irrefutable, distributed ledgers, consensus, and faster settlement. The proposed model has been built on the smart contract protocol, created for crowdfunding transactions, campaigns for the proposed model was implemented on remix ide, this will create a campaign for those in need of funds and for donors to donate funds to these campaigns. The campaign master has the right to reject or accept requests thus creating fraud and a tamper-proof environment. The model has been subjected to positive negative unit and integration tests on mocha, the efficiency of the model obtained is at par with existing solutions with an added edge on security via smart contract protocols. © 2021 IEEE.