Blockchain crowdfunding projects evaluation using GRA-TOPSIS

Abstract

Purpose This paper aims to propose a novel blockchain crowdfunding projects evaluation approach using extended techniques for order preferences by similarity to ideal solution (TOPSIS) under fuzzy environment. Design/methodology/approach By analyzing the characteristics and operation process of blockchain crowdfunding model, this paper formulates the evaluation index system from three dimensions of human resources, capital and publicity. In addition, the entropy method is used to calculate the weight of each indicator to avoid subjective judgments; different alternatives are evaluated using the grey correlation analysis (GRA) and TOPSIS-integrated method which considers the distance and similarity between alternatives simultaneously. Findings By analyzing the characteristics and operation process of blockchain crowdfunding model, this paper formulates the evaluation index system from three dimensions of human resources, capital and publicity. In addition, the entropy method is used to calculate the weight of each indicator to avoid subjective judgments; different alternatives are evaluated using the GRA and TOPSIS-integrated method which considers the distance and similarity between alternatives simultaneously. Originality/value Blockchain crowdfunding has become a new model for fund-raisers to raise funds from public investors. This paper proposes a novel blockchain crowdfunding projects evaluation approach using extended TOPSIS under fuzzy environment.