Open AccessEthereum Blockchain based Smart Contract for Secured Transactions between Founders/Entrepreneurs and Contributors under Start-up Projects
Author(s) -
Namrata Thakur,
Vinayak Shinde
Publication year - 2021
Publication title -
international journal of scientific research in computer science, engineering and information technology
Language(s) - English
Resource type - Journals
ISSN - 2456-3307
DOI - 10.32628/cseit2174140
Subject(s) - blockchain , database transaction , smart contract , business , process (computing) , computer security , loan , the internet , commerce , finance , computer science , world wide web , programming language , operating system
Many implementation of blockchain technology are widely available today. This Project explains how blockchain technology improves efficiency and builds faith in funding process of startup process which affect today’s business and industries. Designing Block chain based a decentralized, distributed ledger, which records transactions or events of funding process in Start-up is discussed.Start –ups facing an issue of raising a required fund. Although there are many sources are available to entrepreneurs who wish to begin new businesses or expand existing ones, like family, friends, friends of friends, bank loan, use of internet, online crowd funding platform and many more. However, to look at the proper distribution and utilization of money and to keep track of it is main problem. This proposed system may provide the solution with blockchain technology for issues related to crowdfunding contract. Through the notion of smart contract automated interaction between and existing transaction system is discussed. A solution for the issues like security, abuse of investor and illegal transactions in crowdfunding process is prompted in this project.The idea behind model is to use ethereum based smart contract for securely and effectively handling connection between fundraisers,vendors and project manager/idea person. Blockchain enabled,distributed platforms is used to avoid fraud and to view proper utilization and distribution of money raised by different contributors.