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CrowdCoin: Secure Investment Solutions

Crowdcoin proposes using blockchain technology to make e-payment transactions more transparent and secure. By storing transaction histories on a distributed ledger that all network participants can see, it aims to reduce vulnerabilities from hacking. It also allows project creators to only access funds raised if a minimum number of contributors vote to approve the requested use, helping ensure money goes toward the project rather than luxuries. The platform is built on technologies like NodeJS, React, Solidity, MongoDB and FastAI and features include secure investment information, voting power for contributors over funds, automatic profit distribution to investors, and an investor community.

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ambrose
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20 views5 pages

CrowdCoin: Secure Investment Solutions

Crowdcoin proposes using blockchain technology to make e-payment transactions more transparent and secure. By storing transaction histories on a distributed ledger that all network participants can see, it aims to reduce vulnerabilities from hacking. It also allows project creators to only access funds raised if a minimum number of contributors vote to approve the requested use, helping ensure money goes toward the project rather than luxuries. The platform is built on technologies like NodeJS, React, Solidity, MongoDB and FastAI and features include secure investment information, voting power for contributors over funds, automatic profit distribution to investors, and an investor community.

Uploaded by

ambrose
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

#DONTINCLUDE

CROWDCOIN
Archit Aggarwal, Prince Gupta, Nishant Chahar, Ishank Jain
PONDER ON THIS
AT THE END OF THE DAY,
THE GOALS ARE SIMPLE -
SAFETY AND SECURITY
- JODI RELL
Defining the Problem
TAKE IT FROM YOUR INVESTORS.
WHAT INVESTORS SAY WHAT WE PROPOSE
Although stringent measures such as symmetric Making transaction histories more transparent and
encryption are in place to make e-payment safe and secure through the use of blockchain technology.
secure, it is still vulnerable to hacking. Because Blockchain is a type of distributed ledger, all
network participants share the same documentation as
Enterprises with in-house e-payment systems must incur opposed to individual copies.
additional costs in procuring, installing and maintaining
sophisticated payment-security technologies. Contributors can decide Where to invest and can
Acknowledge the requests for money made by the
There is no guarantee that people who post projects on Project Creators through their [Link] creator can only
Kickstarter will deliver on their projects, use the money to use the money if a minimum number of contributors
implement their projects, or that the completed projects approve a certain request. It will make sure the money is
will meet backers' expectations. used for Necessities rather than Luxuries.
TECHNOLOGY STACK
NodeJS: NodeJS is a JavaScript runtime built on Chrome's V8 JavaScript engine. As
anasynchronous event driven JavaScript runtime, Node is designed to build scalable
network applications.
- React: React is a JavaScript library for building user interfaces. React can be used as a base in
the development of single-page or mobile applications. Complex React applications usually
require the use of additional libraries for state management, routing, and interaction with
an API
- Solidity: Solidity is an object-oriented programming language for writing smart
contracts. It is used for implementing smart contracts on various blockchain platforms.
MongoDB is a cross-platform document-oriented database program. Classified as a NoSQL database
program, MongoDB uses JSON-like documents with schemata. MongoDB is developed by MongoDB
Inc. and licensed under the Server Side Public License (SSPL).
FastAI: The fastai library simplifies training fast and accurate neural nets using modern best
practice, and includes support for vision, text, tabular, and collab models
KEY FEATURES

SECURE VOTING PROFIT INVESTOR


INVESTMENT POWER DISTRIBUTION COOMUNITY
Information is stored The creator can only use The owner of the startup is Cut through the noise
across a network of the money if a minimum required to periodically enter with quality, peer-
computers instead of on number of contributors details about revenue reviewed investment
a single server, makes it approve a certain generation. Any profit that is research from top
very difficult for hackers request. It will make generated is automatically analysts and rising stars
to compromise the sure the money is used distributed among the in the fund industry.
transaction data. for Necessities rather investors providing investors
than Luxuries. with additional layer of security.

ZIMCORE HUBS | DESIGN THINKING

Common questions

Powered by AI

Enterprises with in-house e-payment systems face challenges such as additional costs for procuring, installing, and maintaining payment-security technologies. Despite stringent measures like symmetric encryption, systems remain vulnerable to hacking. The need for more secure and cost-effective solutions motivates the transition to blockchain, which offers enhanced security through its decentralized nature and shared documentation among network participants, reducing the risk of data compromise .

Blockchain technology improves transparency and security by utilizing a distributed ledger system where all network participants share the same documentation rather than maintaining individual copies. This decentralized approach makes it challenging for hackers to compromise transaction data. Moreover, blockchain enables contributors to vote on monetary requests from project creators, ensuring that funds are used appropriately and adding further security measures to the process .

React can be used to develop user-friendly interfaces for e-payment applications, ensuring responsiveness and ease of use. Solidity is instrumental in writing smart contracts, which are crucial for automating and enforcing the security protocols within a blockchain system. MongoDB provides a scalable and efficient database solution for storing transaction data, ensuring that it is easily retrievable and manageable as JSON-like documents. FastAI can support the implementation of AI models within the application, enhancing features like fraud detection or personalized user experiences. NodeJS offers a powerful environment to build scalable network applications that facilitate seamless communication between different components of the system, leveraging asynchronous events for improved performance .

The voting mechanism requires project creators to obtain approval from a minimum number of contributors before using the funds. This ensures that the money is used for necessities rather than luxuries, providing an additional layer of security for investors. Contributors' approval acts as a checkpoint, making sure funds are not misappropriated or misused, thereby enhancing trust in project-based platforms .

In a blockchain-based investment model, profit distribution is automated, providing investors with additional security. The owner of the startup is required to enter details about revenue generation periodically. This transparency ensures that any profits generated are equitably and automatically distributed among investors without requiring manual intervention, reducing the potential for errors or fraud and ensuring trust .

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