Crowdfunding Using Blockchain

Abstract

There are lots of developments in the fields of science and technology but even in these days very important agreements  related to properties, Crowdfunding are made on paper which is not at all safe as they can be duplicated or forgery can be done. Even if the agreements are digital they can be hacked if no security surrounds them. But if agreements, applications are made using smart contracts the security will be increased by a large scale.In normal crowd funding the entire amount is directly in the hands of manager and also the amount used by manager doesn’t involve investors opinion. So, there is no security ensured in this case. The proposed methodology creates a smart contract in such a way that the entire funding amount will be inside the smart contract and when the manager wants to make use of funding amount and buy something from a vendor, he/she has to make a spending request and then investors have to vote on that request. If the contract gets majority amount of votes the amount will be automatically sent to the vendor. In this way process of crowd funding can be made better and trustworthy.