A Smart Contract-based Service Platform for Trustworthy Crowd Funding and Crowd Innovation

Abstract

Crowd funding and crowd innovation can boost creativity of creators at a low cost. However, how to protect rights and benefits of relative stakeholders during the process in a credible way remains a problem. By introducing fungible tokens, non-fungible tokens and on-chain governance based on blockchain, we propose a set of smart contracts supporting crowd funding and crowd innovation to better reward participants and govern the process in a trusted way. Furthermore, based on these smart contracts, we abstract and encapsulate a series of common operations and implement a service platform for trustworthy crowd funding and crowd innovation.