Decentralized Financing for Artistic Expression: A Crowdsourcing Model Powered by Blockchain Technology

Abstract

The blockchain with its decentralization, security, and transparency has disrupted the contemporary society. Another donor-based technique, crowdfunding, started as a way to fund projects with limited donations over the Internet and has also changed. Present scenario is that, currently people can put their money to work in startup ventures through brokers or digital wallets. Current crowdfunding sites have little control over where the money goes, and donors often do not have guarantees. In this paper, we present a potential solution as a blockchain and decentralized crowdfunding system.