Rasheed Mohammad Nassr
Universiti Kuala Lumpur

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Journal : Indonesian Journal of Electrical Engineering and Computer Science

Blockchain based crowdfunding systems Md Nazmus Saadat; Syed Abdul Halim; Husna Osman; Rasheed Mohammad Nassr; Megat F. Zuhairi
Indonesian Journal of Electrical Engineering and Computer Science Vol 15, No 1: July 2019
Publisher : Institute of Advanced Engineering and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11591/ijeecs.v15.i1.pp409-413

Abstract

Initially, blockchain is only used as a foundation of cryptocurrency, but today, we can see the rise of this new emerging technology are being implemented in many industries. In the future, most technologies around the world are expected to use blockchain as an efficient way to make online transactions. One of the areas that blockchain technologies can be applied is crowdfunding platforms. The most common problem with current crowdfunding scene in around the world including is that the campaigns are not regulated and some of the crowd-funding campaign turned out to be fraud. Besides, the completion of some projects also was significantly delayed. This project aims to solve these problems by applying Ethereum smart contracts to the crowdfunding site to that the contracts will be fully automatically executed, thus preventing frauds and ensuring that the projects can be delivered within duration given.