International Peer-Reviewed JournalOpen AccessISSN 2456-8880
irejournals@gmail.com+91-7433024337

Home / Current Issue / Paper 1705387

1705387 Vol 7 · Issue 7 Download Paper

Crowd Impact: A Blockchain-based Crowdfunding Platform for Impact Token

Sinchan J Shetty Dr. S Senthilkumar

Subject area: Science,Engineering and Technology  ·  Area of research: Blockchain

Abstract

The practice of crowdfunding, a type of collective fund raising whereby small contributions or investments are made by groups of individuals in exchange for free goods or other accolades, has gained popularity. A class of tokens known as impact tokens uses blockchain technology to symbolize the beneficial social and economic effects of particular actions. CrowdImpact streamlines the impact token investment process by fusing Ethereum's smart contracts, blockchain technology, and a user-friendly React.js UI. This strategy tackles a crucial issue in the broad sector, where there are few excellent investment possibilities and large levels of market risk.

Keywords

Crowdfunding, Impact tokens, Blockchain, Sustainable Development Goals (SDG), Impact investing.

References

[1] M. S. Benila, V. Ajay, K. Hrishikesh, and R. Karthick, “Crowd Funding using Blockchain,” GRD Journals-Global Research and Development Journal for Engineering, vol. 4, 2019, [Online]. Available: www.grdjournals.com

[2] B. Chen et al., “Blockchain-based Decentralized Co-governance: Innovations and Solutions for Sustainable Crowdfunding,” Jun. 2023, [Online]. Available: http://arxiv.org/abs/2306.00869

[3] Y. Xu et al., “A decentralized trust management mechanism for crowdfunding,” Inf Sci (N Y), vol. 638, Aug. 2023, doi: 10.1016/j.ins.2023.118969.

[4] V. Patil, V. Gupta, and R. Sarode, “Blockchain-Based Crowdfunding Application,” in Proceedings of the 5th International Conference on I-SMAC (IoT in Social, Mobile, Analytics and Cloud), I-SMAC 2021, Institute of Electrical and Electronics Engineers Inc., 2021, pp. 1546–1553. doi: 10.1109/I-SMAC52330.2021.9640888.

[5] E. Mollick, “The dynamics of crowdfunding: An exploratory study,” J Bus Ventur, vol. 29, no. 1, pp. 1–16, Jan. 2014, doi: 10.1016/j.jbusvent.2013.06.005.

[6] H. Liu, J. Li, S. Yuan, W. Cao, and B. Li, “A Smart Contract based Crowdfunding Mechanism for Hierarchical Federated Learning,” May 2022, [Online]. Available: http://arxiv.org/abs/2205.06101

[7] “aWEshkar_March_2018”.

[8] M. Nazmus Saadat, S. A. Halim, H. Osman, R. M. Nassr, and M. F. Zuhairi, “Blockchain based crowdfunding systems,” Indonesian Journal of Electrical Engineering and Computer Science, vol. 15, no. 1, pp. 409–413, Jul. 2019, doi: 10.11591/ijeecs.v15.i1.pp409-413.

[9] M. Zichichi, M. Contu, S. Ferretti, and G. D’Angelo, “LikeStarter: A Smart-contract based Social DAO for Crowdfunding,” in INFOCOM 2019 - IEEE Conference on Computer Communications Workshops, INFOCOM WKSHPS 2019, Institute of Electrical and Electronics Engineers Inc., Apr. 2019, pp. 313–318. doi: 10.1109/INFCOMW.2019.8845133.

[10] D. H. Jhaveri, “CROWDFUNDING AT INDIA A STUDY OF INDIAN ONLINE CROWDFUNDING PLATFORMS.” [Online]. Available: www.ketto.org

[11] C. Mohit Bahal, “Role of Crowdfunding in Financing Start-Ups and SME in India,” 2017.

[12] V. Buterin, “Ethereum: A Next-Generation Smart Contract and Decentralized Application Platform.”

[13] S. Damle, M. H. Moti, P. Chandra, and S. Gujar, “Designing Refund Bonus Schemes for Provision Point Mechanism in Civic Crowdfunding,” Oct. 2018, [Online]. Available: http://arxiv.org/abs/1810.11695

[14] “Our work supports Sustainable Development Goal 13 and 14.”

[15] R. Prasad, Y. Satyasai, J. Nanda, P. Singh, R. Meng, and H. Lim, “Algorithms for Intelligent Systems Proceedings of the International Conference on Paradigms of Computing, Communication and Data Sciences PCCDS 2022.”

How to cite this paper

Sinchan J Shetty, Dr. S Senthilkumar "Crowd Impact: A Blockchain-based Crowdfunding Platform for Impact Token" Iconic Research And Engineering Journals Volume 7 Issue 7 2024 Page 312-320
Sinchan J Shetty, Dr. S Senthilkumar "Crowd Impact: A Blockchain-based Crowdfunding Platform for Impact Token" Iconic Research And Engineering Journals, vol. 7, no. 7, Jan. 2024
Sinchan J Shetty, Dr. S Senthilkumar (2024). Crowd Impact: A Blockchain-based Crowdfunding Platform for Impact Token. Iconic Research And Engineering Journals, 7(7).
Sinchan J Shetty, Dr. S Senthilkumar "Crowd Impact: A Blockchain-based Crowdfunding Platform for Impact Token" Iconic Research And Engineering Journals, vol. 7, no. 7, Jan. 2024.
@article{1705387,
      author = {Sinchan J Shetty, Dr. S Senthilkumar},
      title = {Crowd Impact: A Blockchain-based Crowdfunding Platform for Impact Token},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {7},
      number = {7},
      pages = {312-320},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1705387.pdf},
      abstract = {The practice of crowdfunding, a type of collective fund raising whereby small contributions or investments are made by groups of individuals in exchange for free goods or other accolades, has gained popularity. A class of tokens known as impact tokens uses blockchain technology to symbolize the beneficial social and economic effects of particular actions. CrowdImpact streamlines the impact token investment process by fusing Ethereum's smart contracts, blockchain technology, and a user-friendly React.js UI. This strategy tackles a crucial issue in the broad sector, where there are few excellent investment possibilities and large levels of market risk.},
      keywords = {Crowdfunding, Impact tokens, Blockchain, Sustainable Development Goals (SDG), Impact investing.},
      month = {January},
  }