A SECURE PLATFORM FOR CROWDFUNDING PROCESS

Abstract

Crowdfunding is an online fundraising method whereby individuals contribute small amounts to support the startup projects or businesses of young entrepreneurs. The emergence of crowdfunding sites has improved the financing process. Individuals, business owners, and innovators can now reach a worldwide audience to raise money for their ideas. In addition to examining the emergence, important models, and societal impact of crowdfunding platforms, this abstract offers a succinct summary of their many facets. Building confidence between donors and recipients is important, especially in light of the increasing number of scams. Donating to unknown parties generally scares people since they don't know if their money will go towards the appropriate causes or not. Thus, the development of a safe crowdfunding platform is required. Blockchain technology has revolutionized a number of industries by bringing previously unheard-of levels of security, transparency, and decentralization. The aim of this research paper is to examine how blockchain technology integration might improve transparency, build confidence between project creators and backers, and solve current issues with crowdfunding platforms. The decentralized ledger technology of blockchain guarantees the security, accountability, and transparency of project creators and backers. This presentation concludes by outlining the revolutionary potential of crowdfunding platforms to change financial dynamics and promote inclusive financing process involvement.