FundTrack by Block: Decentralized Fund Management and Tracking System using Blockchain

NGOs often face a lack of financial expertise within their organizations. Limited access to professionals skill in financial management, budgeting and accounting practices can impede accurate financial reporting, budget planning, and resource allocation. This hinder effective decision making and expose organizations to financial risks. Also, the Donors who wishes to donate to this organizations are not sure if the NGOs are credible. Therefore, the proposed work makes use of blockchain technology to ensure accountability, efficiency, and transparency. The system’s central component is a mobile app that allows donors to make convenient and secure contributions to a variety of organizations. All financial transactions and activities are immutably documented by incorporating blockchain technology. As this is a mobile application even a person with less expertise for financial management can view and track their donations. Donors can easily follow the progress of their contributions with the smartphone app, ensuring that money is going to the right projects, empowered by this transparency because they know their money is being used wisely and in line with the organization’s objective, giving them confidence. To automate and streamline fund administration procedures, the system makes use of self executing contracts built into the blockchain. Donation collecting, money distribution, and expense tracking are all governed by these contracts. Eliminating intermediaries and automating these procedures lowers administrative costs and lessens the possibility of misappropriation. The proposed solution combines blockchain technology and a user friendly mobile app to offer a decentralized fund management system for NGOs. The mobile app’s convenience and transparency also foster donor engagement, promoting sustainable relationships between NGOs and their supporter.