Love Chain

Leader of the Tianjin Municipal University Student Innovation Training Program.

project introduction

With the rise of the internet, internet donation platforms that have emerged concurrently offer significant advantages over traditional donation platforms, largely avoiding the pitfalls associated with the latter. For example, internet donation platforms can leverage big data mining and applications to analyze information from a larger pool of individuals, automatically deducing the identities of donors, whether beneficiaries meet the platform’s donation requirements, and more. This allows even those in remote and information-restricted areas to seek help. Internet-based fundraising platforms also boast low entry barriers, rapid dissemination, wide-reaching impact, fast interaction, and high efficiency, making them a popular choice for charitable giving in society.

Despite the booming fundraising industry, traditional donation channels suffer from incomplete donation information and opaque fund flows, leading to numerous issues. Without the oversight of a blockchain mechanism, the lack of clarity in fund allocation creates opportunities for some to misappropriate donations, leading to management problems that significantly dampen public enthusiasm for donating. The purpose of this project is to address the issue of unclear donation fund allocation and ensure that every cent reaches those in need, aligning with our initial intention to establish a blockchain-based charitable fundraising platform.

Blockchain technology perfectly resolves the problem of transparent donation fund allocation faced by internet platforms in the current market. Blockchain has two core features: data immutability and decentralization. The first feature effectively addresses the issue of transparent fund allocation. Because blockchain data is difficult to tamper with, storing user donations on the blockchain and splitting them into new blocks when needed ensures that every bit of funding can be traced from start to finish. This achieves complete transparency in the allocation of donations, making the financial transactions of donation platforms publicly accessible and meeting users’ demands for openness and transparency.

Compared to traditional databases, blockchain technology offers advantages such as traceability, distribution, decentralization, openness, and independence and has found extensive applications in various fields of life. Monitoring the financial information of charitable fundraising platforms through blockchain technology, tracking the sources and destinations of funds, and making these transparent contribute significantly to the credibility of internet-based charitable fundraising platforms, which is the main research significance of this project.