Vonechain-Trustworthy Crowdfunding

Trustworthy Crowdfunding Solutions

Establishment of trustworthy crowdfunding platform using blockchain technology ensures data information is open and transparent, reduces situation of asymmetrical information obtained from funds which are in the process of crowdfunding and after crowdfunding, introduces smart contract to use funds for special purposes in order to protect rights and interests of investors to the greatest extend.

Plan Advisory

Pain Point

1

Charity Crowdfunding Faces Challenges

Credibility of crowdfunding network has been questioned frequently, review of crowdfunding platform is too lenient, fundraiser fabricates information, etc. have resulted in low willingness to donate among donators. Eventually, many crowdfunding platforms are closing down.
2

Fund and Materials Unable to Trace

Project sponsor and crowdfunding platform cannot ensure the transparency of data during the whole process, therefore suspicion arises regarding the trueness of funds usage, as use of subsequent funds cannot be reviewed by the public.
3

Special Fund not Truly for Special Purposes

Lack of effective means in controlling raised funds causes misappropriation of funds and multipurpose of one fund happen, hence this phenomenon brings many challenges to the public.

Plan Advantages

Avoid Violation Risk of Platform
Ensure Authenticity and Reliability of Data
Special Funds for Special Purpose
Introduce Supervision, Process is Traceable

Avoid Violation Risk of Platform

Ensure Authenticity and Reliability of Data

Multiple data nodes in blockchain crowdfunding platform ensure transaction information, invoice and other key information are on chain, and at the same time behavioural process has a basis, can be inquired, audited and data cannot be tampered.

Special Funds for Special Purpose

Introduce smart contract, write down fund usage and relevant requirements to ensure raised funds are useful.

Introduce Supervision, Process is Traceable

Introduce nodes of regulatory agency so that data query is open to public, capital flows during crowdfunding is transparent, and effective feedbacks will be updated to the donators. Furthermore, regulatory agency can also solve lagging which is the key problem effectively, achieve real-time supervision and ensure healthy development of crowdfunding platform.

Scheme Structure

Set up decentralized crowdfunding platform using blockchain architecture. This system uses multiple nodes and it at least contains 4 types of role nodes. 1.Project sponsor node; 2.Crowdfunding platform node; 3.Investor node; 4.Regulatory agency node; Identity of consortium blockchain node agrees on certification. Key information will be put on chain and is open and transparent to all internal members. Data information of early project is open, transparent and cannot be revised. Transaction information on chain makes matchmaking trade-off information more transparent, whereas receipt information on chain makes checking of expenses easier to carry out.