Blockchain-based Distributed Secure Crowdfunding and Decision-Making Platform for Large-scale Business Projects in Public and Private Sectors
AbstractBusiness projects are one of the major pillars of the economy of any country. People may have excellent business ideas, but they may not have money to start them. Getting a loan may not be an easy task for a novice businessman. On the other hand, there can be many people who are seeking investment opportunities. However, they may not have sufficient funds to invest in business alone. When investing as groups, conflicts in negotiations will rise. Moreover, the issue of trust will increase. This research, we are proposing a new crowdfunding and decision-making platform for major projects in public and private sectors using blockchain technology. A businessman can submit his business plan and invite people to invest in if they like the given agreement. Investors can invest any amount and propositionally attend on decision making of each activity in the project by casting their votes. This platform helps to invest in large business projects over the lack of trust and issues of the existing investment methods. Because the reliability and the security of the system are higher as the agreement and the votes are written in the distributed ledger permanently, and decision-making happens without the involvement of humans.Key words: Blockchain, CrowdFunding, Secure Voting, Distributed Computing, Large Business Projects
Copyright (c) 2020 W.K.M. Mithsara, T.M.K.K. Jinasena
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