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A Transparent, Distributed, and Secure Crowdfunding Platform Based on Blockchain

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Integrating Blockchain and Artificial Intelligence for Industry 4.0 Innovations

Part of the book series: EAI/Springer Innovations in Communication and Computing ((EAISICC))

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Abstract

Crowdfunding refers to a way of raising funds from individuals and/or firms for business purposes. Conventionally, it is a manual process, in which, the collected fund is available with a single entity (firm or an individual). In such cases, it has been observed that the funds could be diverted elsewhere or misused. Online crowdfunding platform powered through blockchain technology brings in transparency and accountability to such transactions, which could possibly improve the scale of business since more and more people would now like to fund the ventures as each individual is aware of the utilization of the funds. The blockchain technology builds upon the Industrial Internet (Industry 4.0), a transparent and secure environment for the people and the transactions. In this chapter, one such application based on blockchain technology is proposed that has the potential to improve the security and reliability of the transactions. Since the control in blockchain-based technology is decentralized, it effectively addresses the monopoly over the funds and improves the accountability of the one who is making the investments.

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Author information

Authors and Affiliations

  1. Department of Electronics and Communication Engineering, Indian Institute of Information Technology Kota (IIIT Kota), MNIT Campus, Jaipur, India

    Vinita Tiwari

  2. School of Science, Engineering, and Technology, RMIT University, Hanoi, Vietnam

    Sam Goundar

  3. Department of Electrical and Electronics Engineering, BITS Pilani, Pilani Campus, Pilani, Jhunjhunu, India

    Karri Babu Ravi Teja

  4. Department of Computer Science and Engineering, Indian Institute of Information Technology Kota (IIIT Kota), MNIT Campus, Jaipur, India

    Basant Agarwal

  5. Department of Mathematics, Indian Institute of Information Technology Kota (IIIT Kota), MNIT Campus, Jaipur, India

    Priyanka Harjule

Authors
  1. Vinita Tiwari
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  2. Sam Goundar
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  3. Karri Babu Ravi Teja
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  4. Basant Agarwal
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  5. Priyanka Harjule
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Corresponding author

Correspondence to Vinita Tiwari .

Editor information

Editors and Affiliations

  1. School of Science, Engineering, and Technology, RMIT University, Hanoi, Vietnam

    Sam Goundar

  2. Department of Computer Science Engineering, Vels Institute of Science, Technology, and Advanced Studies (VISTAS)Pallavaram, Chennai, Tamil Nadu, India

    R. Anandan

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Tiwari, V., Goundar, S., Teja, K.B.R., Agarwal, B., Harjule, P. (2024). A Transparent, Distributed, and Secure Crowdfunding Platform Based on Blockchain. In: Goundar, S., Anandan, R. (eds) Integrating Blockchain and Artificial Intelligence for Industry 4.0 Innovations. EAI/Springer Innovations in Communication and Computing. Springer, Cham. https://doi.org/10.1007/978-3-031-35751-0_12

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  • DOI: https://doi.org/10.1007/978-3-031-35751-0_12

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-031-35750-3

  • Online ISBN: 978-3-031-35751-0

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