Fundraising Portal using Smart Contracts in Blockchain using Group Signatures
M. V. Ranjith Kumar1, Arpit Shukla2, Saket Agarwal3

1M. V. Ranjith Kumar*, Assistant Professor, Department of Computer Science and Engineering ,SRM institute of Science and Technology, Chennai
2Arpit Shukla, Department of Computer Science and Engineering, SRM institute of Science and Technology, Chennai.
3Saket Agarwal, Department of Computer Science and Engineering, SRM institute of Science and Technology, Chennai

Manuscript received on March 05, 2020. | Revised Manuscript received on March 16, 2020. | Manuscript published on April 30, 2020. | PP: 531-533 | Volume-9 Issue-4, April 2020. | Retrieval Number: D7029049420/2020©BEIESP | DOI: 10.35940/ijeat.D7029.049420
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Abstract: Generally, to make a campaign,startup, or any innovative idea successful requires some amount of donation. Fundraising or let us say Crowdfunding is an efficient way to raise money for your ideas, campaigns, startups etc. There are a lot of platforms available online and they provide space for setting up your own campaign so that you can gets funds for your campaign. people can go and contribute to any idea they like and get benefit from the pledge that you make. Certainly, there are lot of drawbacks to this model. There is no transparency and no assurance that your money is being put to the right use, there are charges to use the platform and many other issues. We try to over come these issues by making a fundraising platform using smart contract in solidity. This will be more secure as it uses Ethereum blockchain to make all the transactions and all the transactions are ethereum based. Not only this but the contributors have the right to vote for a transaction and only when a minimum consensus is achieved the requested transaction can be made.Contributors can have their own pool of contributors which can be achieved by multi-signature wallet.By creating a multisigned wallet , there will be two factor authentication mechanism to access funds, which are related more to security concerns. This not only enables a transparent transaction but also develops trust in the users of the platform. This not only resolves major drawbacks faced in the current live non blockchain based platforms like Kickstarter but also brings in more efficient platform to serve the purpose.
Keywords: Fundraising,Crowdfunding, Blockchain, Ethereum, Kickstarter, Consensus, Smart contracts, startups, campaign, transactions, transparency, Group signatures.