Volume 17, No. 1, 2020
A Transparent And Decentralized Approach For Crowdsourcing Using Blockchain
Sukhwinder Singh Sran, Harmandeep Singh
Abstract
Crowdsourcing is a mechanism that has gained widespread popularity in recent years. Crowdsourcing raises concerns on some issues such as high fees, limited accessibility, and lack of transparency. This paper presents a crowdsourcing system that uses blockchain technology to overcome traditional crowdsourcing issues. The proposed system utilizes contract-based model which enable transparent, secure, and efficient transactions among fundraisers and investors. Blockchain technology makes sure that the transactions are transparent and unchangeable which will eliminate intermediaries, reduce fees, and improve accessibility. The proposed system also includes a reputation-based mechanism that encourage honest behavior by all the parties and reduce the risk of fraud. A prototype was implemented on the Ethereum blockchain and tested using various scenarios to ensure the effectiveness of the proposed system. As a result, the system displayed the abilities of secure, transparent, and efficient Crowdsourcing platform over existing platform alternatives. This paper ensures an encouraging method to deal the limitations of present or traditional Crowdsourcing using blockchain technology. The system proposed offers a transparent and decentralized approach that could be an advantage for investors, fundraisers, and the overall Crowdsourcing ecosystem.
Pages: 640-651
Keywords: Crowdsourcing, blockchain technology, smart contracts, Ethereum blockchain, security, transparency