Review of Innovative Crowdfunding Mechanisms Unlocking the Potential of Blockchain Technology

Abstract: Crowdfunding, indeed, has become the lifeline for entrepreneurs to fund their innovative ideas and projects. Despite its fantastic popularity, a traditional crowdfunding platform has been known to face plenty of challenges, including opacity, high transaction cost, and fraudulent activities. To this end, this paper reviews five innovative approaches that unlock blockchain technology for the reliability and efficiency of crowdfunding systems. Analysis of these methods would then lead to a framework of a more efficient crowdfunding model that will mitigate the existing problems while still leveraging the benefits of decentralized finance.

Keywords: Tokenised Crowdfunding, Peer -to- Peer Funding, Blockchain Crowdfunding Campaign, Transparency & Anti-Fraud, Immutable Records.