MBA Journals Peer-reviewed management research from Consortium e-Learning Network

NOLEGEIN Journal of Operations Research & Management

Blockchain is Changing the Face of Crowdfunding

  1. Keerthana S
  2. Renukananda T D
  3. Rashmi M R
  4. Yashwanth Yadav P S
  5. Suhas K C
  6. Kumar
  7. Swaroop N C

Abstract

This study explores the potential of using blockchain technology and Solidity programming language to create a transparent, secure, and efficient crowdfunding platform. The project developed a smart contract using Solidity that includes a commission structure for campaign managers and the ability to reward managers with non-fungible tokens (NFTs) as an incentive for successful campaigns. The study conducted several tests to evaluate the effectiveness and efficiency of the smart contract, which showed a higher success rate for crowdfunding campaigns. The results demonstrate the potential of using blockchain and Solidity for crowdfunding platforms, providing a secure, efficient, and transparent way for individuals and organizations to raise funds for their projects. With further development and refinement, this platform has the potential to become a popular choice for crowdfunding campaigns.
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