Crowdfunding System based on Blockchain

Journal: GRENZE International Journal of Engineering and Technology
Authors: Rashmi Jain, Hrushikesh Panchabuddhe, Amaan Ranapurwala, Aniruddha Kate, Atharva Gaikwad
Volume: 10 Issue: 1
Grenze ID: 01.GIJET.10.1.308 Pages: 668-676

Abstract

Blockchain was first only utilized to support cryptocurrencies, but as time passes, more and more industries are embracing this new technology. Several other crypto currencies started to emerge piecemeal from bitcoin. With the use of blockchain technology and smart contracts, Defy Systems increases the power of websites. Blockchain is expected to be used as an efficient method of conducting online transactions as technology matures. One of the diligences to which blockchain technology may be applied is crowdfunding sites. A brand-new and cuttingedge method for funding many kinds of bets is crowdfunding, in which the bets' individual writers can ask for money. With the advent of the internet and social media, new platforms emerged. For charitable organizations and business owners looking to grow their wealth, the internet and social media are crucial. In this study, it is proposed as a cutting-edge hybrid blockchain crowdsourcing platform called CrypFunds to further explore the benefits of merging blockchain and crowdsourcing. Cryptocurrency donations, whether they are made to a political party or an association, are frequently accepted in the Contributions in cryptocurrencies can give organizations access to a new group of implicit philanthropists who would rather give via blockchain than some of the more conventional methods that might enable them to avoid capital gains taxes

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