MUMBAI, India, Sept. 7 -- Intellectual Property India has published a patent application (202541018416 A) filed by Hindusthan Institute Of Technology on March 03, 2025, for Crowdfunding Allocation Using Blockchain.
Inventors include Dr. C. Natarajan; R. Banu Priya; B. Manikandan; Gunasekaran. A; Kaviyarasu. S; Sukesh Bala. K; and Sajin. R.
The application for the patent was published on September 04, 2026, under issue no. 36/2026.
Abstract: 7. ABSTRACT OF THE INVENTION: This invention introduces a blockchain-based system for ensuring secure, transparent, and efficient fund distribution. Traditional crowdfunding platforms often suffer from issues such as fraud, fund mismanagement, and high transaction fees due to intermediaries. The proposed system leverages blockchain's decentralized ledger and smart contracts to automate and secure the allocation of funds. Smart contracts execute transactions based on predefined conditions, ensuring that contributions are disbursed only when project milestones are met.By integrating cryptographic security, the system prevents unauthorized access, ensuring that all transactions remain immutable and traceable. Tokenization can also be incorporated, allowing backers to receive digital assets representing their contributions, which can be used for rewards or governance participation. Aaaitionally,-ifie system rea"uc"'e"'s,.-------1 operational costs by eliminating third-party intermediaries, making crowdfunding more efficient and accessible.This invention enhances trust between project creators and contributors by providing real-time transparency and accountability. It is applicable across various sectors, including startups, social initiatives, and charitable fundraising. Future enhancements may include Al-driven fraud detection and improved scalability. This blockchain-based crowdfunding allocation system revolutionizes the fundraising process, offering a secure and decentralized alternative to traditional crowdfunding methods.
Disclaimer: Curated by HT Syndication.
