for Research in Applied Science & Engineering Technology (IJRASET)

ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538

Volume 11 Issue III Mar 2023- Available at www.ijraset.com

IX. APPLICATIONS

1) By eliminating these middlemen, blockchain technology can assist charities in more effectively managing their financial resources and acting as a marketing tool.

2) Donors would no longer be in the dark about what is happening with their money if blockchain technology were to be included into organisations. Along with donor information, donation information would be stored in blocks.

3) Since blockchain is a public ledger that anybody can see, it would be exceedingly challenging to perpetrate charity fraud because donors can carefully monitor their payments and make sure no data has been altered.

4) Charities may collect donations safely, transparently, and internationally without having to pay exchange commissions.

5) Smart contracts are blockchain-based programmes that have rules and conditions built into them that trigger specific actions when these conditions are satisfied. These contracts may serve as agreements between the giver and the charity organisation in the case of philanthropy. For all parties engaged in the contribution process, this opens up a lot of opportunity and has the potential to fully automate and be uncompromising.

X. CONCLUSIONS

In conclusion, the application of blockchain technology to philanthropy has the potential to significantly raise the efficacy, accountability, and transparency of philanthropic giving. Blockchain technology has the ability to revolutionise the charitable industry and have a good impact on the world by offering a safe and transparent ledger of transactions, automating the transfer of resources through smart contracts, and enabling cross-border donating. According to the literature analysis, there is significant interest in using blockchain technology in philanthropy, and there are a number of initiatives underway to investigate its potential uses and advantages. The suggested DApp model provides a safe, open, and effective platform for resource distribution, enhancing the transparency and effectiveness of philanthropic giving. Future studies should concentrate on the deployment and assessment of charitable systems based on blockchain, investigating the difficulties and chances offered by this ground-breaking technology. The application of blockchain technology in philanthropy has the potential to significantly contribute to the advancement and development of society through sustained research and development.

XI. ACKNOWLEDGMENT

It is our pleasure to offer our heartfelt gratitude to our guide, Assistant Professor Ms. Monika, for his excellent contribution, capable leadership, encouragement, wholehearted collaboration, and constructive criticism during the period of this endeavour.

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