Blockchain technology for accounting and distribution of contributions from a charitable foundation

Authors

DOI:

https://doi.org/10.15587/2706-5448.2021.239019

Keywords:

smart contract, blockchain technology, distributed ledger, Ethereum platform, decentralized web application, charitable foundation, Solidity, Remix, MetaMask

Abstract

The object of research is software for financial accounting and distribution of funds in a non-profit charitable foundation using smart contracts of the Ethereum platform. The work is aimed at designing and implementing a software application for a charitable foundation, which allows to exclude the misuse of funds of a non-profit charitable foundation.

The paper proposes an implementation of the Ethereum smart contract for the software of a charitable foundation. In the app, users can apply for financial aid or make a charitable donation. The request for financial support is confirmed by administrators to avoid abuse by those seeking help. Anyone who has a crypto wallet can become a sponsor by transferring funds from its account to a selected request. The sponsor remains incognito when making a charitable contribution. After collecting the entire declared amount, the funds are automatically transferred to the crypto wallet of the request’s owner.

A smart contract and a corresponding decentralized web application for interacting with it were experimentally deployed, and their joint work was tested. To implement the smart contract, the Solidity programming language was chosen; developed smart contract converted to bytecode using remix. The resulting bytecode is ready to be deployed on the Ethereum platform. Decentralized web application for interacting with the contract is implemented using Web3.js, Vue.js. A rough estimate of the cost of deploying a project on the Ethereum platform has been made. The deployment and operation of smart contracts and web applications comes with a certain overhead, which is most dependent on the cost of ether. However, this is a justified price to pay for the transparency of transactions and the shadowing of the turnover of funds of the charitable foundation.

The results of the research can be used as a basis for further transformation into full-fledged software with the ability to submit all reporting documents to the relevant government agencies and sponsors.

Author Biographies

Oksana Herasymenko, Taras Shevchenko National University of Kyiv

PhD, Associate Professor

Department of Network and Internet Technologies

Valeriia Bachynska, Taras Shevchenko National University of Kyiv

Department of Information

References

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Published

2021-09-23

How to Cite

Herasymenko, O., & Bachynska, V. (2021). Blockchain technology for accounting and distribution of contributions from a charitable foundation. Technology Audit and Production Reserves, 5(2(61), 9–14. https://doi.org/10.15587/2706-5448.2021.239019

Issue

Vol. 5 No. 2(61) (2021): Information and control systems

Section

Information Technologies: Reports on Research Projects

License

Copyright (c) 2021 Oksana Herasymenko, Valeriia Bachynska

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