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ISSN 2063-5346
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ADVANCED GENERATION OF PRIVATE AND COMMUNITY CROWDFUNDING PLATFORM FOR INVESTORS

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Prasad Kanade1*, Aditya Wakase2, Hrishikesh Pujari3, Rajnee Shenkar4, Renuka Suryawanshi5, Sumedha Sirsikar6
» doi: 10.48047/ecb/2023.12.si10.00465

Abstract

Lately, many creative people are using Crowdfunding to raise money for their ideas through the use of an online platform. The use of third-party middlemen who cannot guarantee the investor’s money and the lack of investor control over how their money is used are two issues with the current crowdfunding approach. On the other hand, blockchain technology is safe, trustworthy, and decentralised network has become highly popular across many varieties of organisations due to its effectiveness when compared to more traditional ways. However, older techniques have a lot of issues and challenges because of their complex and less secure networks. We can address and avoid these issues if we start incorporating blockchain technology. Blockchain technology can be used to address these problems since it provides benefits including increased security, transparency, efficiency, and reduced fraud risk.

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