Venturing Crowdfunding using Smart Contracts in Blockchain

Abstract

Crowd funding is an online cash raising technique that started as a path for the people to contribute limited quantity of money to enable innovative individuals to fund the venture. Using crowdfunding, people can put resources into pioneering businesses through a middle medium or platform. The issue with the current crowd funding technique is that, third party medium don't give the assurance of the money investor contributed for the project and investor don't have control over the cash they contributed. This paper proposes the blockchain based crowd funding by using which the platform can give a private, secure and decentralized path for crowdfunding. The main objective of this paper is to let investors contribute to any project effectively by creating smart contracts through which the contributors can have a control over the invested money and also both the project creators and investors can effectively make and reserve funding for the project.