Solving Kickstarter Scam Problem By using Blockchain

Abstract

In the security aspect blockchain play a vital role, it can solve many problems for people and also provide a new way of trade. Blockchain is all about trust in determining and deciding who you want to trust. People like to exchange things of value. We see this in transactions all over the place in real life so people perhaps trade one item of value for another or maybe they are going to use some type of currency to pay for something. So they render currency and they get something back for their product or service thus this value exchange relies on trust, so to solve trust issues people have to pay somebody in the middle and that is where blockchain fits an interest. Blockchain can remove the middleman and also provide a trustful environment. In the blockchain, there is a concept ” smart contract” of Ethereum which is written generally in solidity language using which we can solve the trust-related issue. On Kickstarter online fund is raised to complete any project. The person who donates money to complete that project becomes a contributor. After donating money contributors don't have control over donated money because of which scam happens. In this paper, we shall propose a solution where the product maker has to take permission to spend donated money. The product maker has to give all the details where he wants to spend money so that contributors can decide whether they want to give permission to spend money or not if the majority of contributors are not satisfied with the given details then they vote against the request because of which money can not be spent.