Web3 and blockchain applications for real world problems
In recent times, there has been increasing skepticism among donors about the proper utilisation of their donations, with fear that funds could be misappropriated for suspicious activities or even terrorist projects. This crisis of confidence has led to a phenomenon termed 'donation-phobia'...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2024
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| Online Access: | https://hdl.handle.net/10356/175043 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | In recent times, there has been increasing skepticism among donors about the proper utilisation of their donations, with fear that funds could be misappropriated for suspicious activities or even terrorist projects. This crisis of confidence has led to a phenomenon termed 'donation-phobia',
This project explores the implementation of a Blockchain-based Donation System (BDS) as a solution to this problem. Blockchain technology, known for its decentralized and secure nature, offers a way to re-establish donor trust by ensuring transparency, immutability, and efficiency in the donation process. This project introduces a novel track donation model, which involves the use of smart contracts and a live full track of the donation process, enabling donors to see exactly where and how their funds are being utilized. This model includes the creation of a user-friendly website for both big screen and pocket-friendly devices, which facilitates easy access to the BDS.
It offers a transparent accounting of operations, enabling donors, charitable foundations, and recipients to track and monitor the flow of resources. The use of blockchain technology eliminates the need for third-party intermediaries, thus reducing the costs associated with donations and minimizing the risk of funds being diverted to unauthorized campaigns. |
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