Crowdstart
A Blockchain based Decentralized Autonomous Organization(DAO) for startups to crowdfund from people in form of ethereum/crypto
About
The problem it solves Crowdfunding has become a popular form of collective funding, in which small donations or investments, made by groups of people, support the development of new projects in exchange of free products or different types of recognition. In this project, we present to build Crowdstart, a Blockchain based DAO Platform that combines concept of smart contracts, ethereum with crowdfunding mechanisms. Thus, allowing any user to raise funds while becoming popular in the social network. Being built over the Ethereum Blockchain, Crowdstart is structured as a DAO, that fosters crowdfunding without the intervention of any central authority, and recognizes the active role of donors, enabling them to support artists or projects, while making profits. Via this we will give the power to users as in Web3.0 the main charge is to handle the ownership/decisions to the users itself. Due to the fradualation of funds collected from crowdfunding by any organization & lack of trailing the money, with the help of DAO, the plan to build an innovative platform for startups to get crowdfunded. With a unique way of crypto Whenever crowdfunding goes for startups it can be misutilized so this is a centralized platform where the withdrawal request from startup from the campaign fund collected depends on the approvals of the half the no of contributers. say we have min contribution of 100 wei and we have 100 contributors and we have total 2 eth campaign balance colected from them so if the startup wants to withdraw 1 eth form it then he must specify proper valid reasons and proofs what this money is to be used before and after transaction so that every contributor will get a mail that this startup you contributed to wants to withdraw money so there if we get half of 100 thats 50 approvals then the transaction approval is given else its denied. In long term when the startup grows the contributors will recieve special tokens and returns with gifts form startups for helping them grow big
How it's made
Challenges we ran into Connecting all the backend contracts with the connection to approvers and deniers to accept or reject a withdraw requests Making DAO setuo with 50% approval rate for transaction whose exact images of transactions can be seen in our github repo readme files with the images of entire architectures. Our next challenge which we are integrating is we want to integrate a system where normal people can donate in terms of INR (as we are in India) and that money will get converted automatically to crypto and ethereum and get donated which is a very cool innovation to this and to which we are focusing our next trgets and pitchings.