International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 09 Issue: 05 | May 2022
p-ISSN: 2395-0072
www.irjet.net
Block Chain - Based Crowd Funding Using Ethereum Ayush Sharma, Prashant Sharma, Nitin Goel, Ramendra Singh Ayush Sharma, MIET College , 157/3 Nehru Nagar, Meerut Prashant Sharma, MIET College, 33/1 , Gandhi Nagar, Meerut Nitin Goel, MIET College, 302/1 Panchsheel colony, Meerut Asst. Prof. Ramendra Singh, Dept. of Information Technology, MIET college, UP, India ---------------------------------------------------------------------***---------------------------------------------------------------------
Abstract - Crowd funding has changed the way startup or
organisation. Not to mention a non-profit organisation that leverages technology for sending money with trust and simplicity.
any social working organisation used to raise funds for its operation in the society. Crowdfunding have innovated to the way start ups have to raise fund by roaming around banks or investors now they just have online their idea on social media or website they start raising funds. But due to false fund raisers or illegal investor have lower the trust of government and social workers in the society . Blockchain, emerge in few year of time which guarantee fraud free transaction between investor and fund raiser. Many block chain based crowd funding have already start raising funds in term of crypto currency successfully. Our study based on crowd funding platform which use decentralize, Fast and secure transaction by using arbitrary nodes in the pool.
This research based on the processes that help investor for fundraising with the help of blockchain technology. This will automat fundraising process without worry of fraud or wrong place allocation of fund. By using smart contract technologies. This technique can be employed in the communications and medical industries.
Key Words: BlockChain,Crowdfunding,Decentralize, Ethereum
1.INTRODUCTION Crowdfunding (CF) is a general phrase that mean obtaining funds, typically in small amounts, from a vast population known as the crowd in order to support a business initiative, cause, loan, or other financial necessity via the designated platform. In the present Covid-19 pandemic crisis, practically every country faces the same challenge in dealing with this problem, particularly in terms of the cash required. Many techniques have been implemented by the government in order to manage government money in order to combat the Covid-19 epidemic. This situation induced community for donations to assist the government in combating the Covid-19.
By using block chain technology it raises confidence and trust of investor along with recipient of fund can validate the fund source by insuring in legalities of fund itself. The technique used in this study, according to the statement above, is library research. To give references for this study, it draws on sources from international and national periodicals, as well as other similar works.
Of fact, raising funds is a difficult procedure since it involves confidence between many parties, including funders, middlemen, or organisations that serve as a location to hold temporary cash. Trust is the key capital for fundraising organisations which built credibility of investors to commit their monies to fund recipients.
1.1 System Design Crowdfunding Flow Process (Traditional) Each fundraising group must have its own set of rules and methods. The entity inside the organisation, on the other hand, is inextricably linked to the four primary entities: the donor, fundraiser, depository fund (Bank), and fund receiver. The following is a broad description of the connection between entities in a fundraising organisation:
Many non-profit invest for help, as in the case of the Covid19 pandemic. This important factor for investor which is TRUST it convince investor to provide money to the
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