A Blockchain Solution for Crowdfunding and Cost Analysis

Abstract

Crowdfunding services help many people to carry out projects for the most diverse purposes and are easily found on the internet. There are several ways to make donations or payments, such as bank transfers and credit cards. However, it is not known exactly whether the investment was in fact for the proper purpose. In this scenario, blockchain stands out with cryptocurrency applications and smart contracts, adding credibility to the transactions carried out even if in a decentralized manner, and providing traceability. The objective of this work is to propose a solution to the problem of traceability of money invested by financiers, in addition to an analysis of financial costs and transaction times, helping investors to understand where the funds raised go. To meet the objective, an architecture was designed and the Ethereum blockchain was used in the experiments, concluding that it is necessary to evaluate the cost benefit of the solution and the size of the data to be stored in the blockchain, as well as the variations in the ether values at the time of conversion to the local currency.