FUNDAID: A Smart-Contract Based Decentralized Autonomous Organization for Philanthropy

Abstract

Abstract: Crowd funding has come to a popular form of collaborative backing, in which small donations or investments, made by groups of people, support the development of new systems in exchange for free products or different types of recognition. Social network spots, in this paper, we present Fundaid, a block chain-grounded decentralized platform that combines social relations with crowdfunding mechanisms, allowing any user to raise finances while getting popular in the social network. Being erected over the ethereal block chain, Fundaid is structured as a Decentralized Autonomous Organization (DAO) that fosters crowdfunding without the intervention of any central authority, and recognizes the active part of benefactors, enabling them to support artists or systems, while making gains