Web Crowdsourcing for Collective Intelligence

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Nara Vamsi Krishna; S Uttejitha; P Vamshi Goud; W Sharanya

Web Crowdsourcing for Collective Intelligence

Authors: Nara Vamsi Krishna, S Uttejitha, P Vamshi Goud, W Sharanya

Unique Paper ID: 171522
Volume: 11
Issue: 8
PageNo: 513-517

Keywords: No Keywords Found

Abstract:
Crowdsourcing investment platforms have revolutionized access to capital by enabling startups and small businesses to connect with a broad base of investors globally. These platforms have expanded the reach of entrepreneurs, allowing them to attract funding from a diverse group of supporters, rather than relying solely on traditional financing channels like banks or venture capital firms. However, early versions of these platforms had several limitations, such as lacking sophisticated matchmaking algorithms to help investors find relevant opportunities. This often led to a less efficient process for both parties, with investors unable to easily locate startups that aligned with their specific interests or risk tolerance. Additionally, secure communication channels were underdeveloped, raising concerns about data privacy and the confidentiality of sensitive information exchanged on these platforms. Minimal trust-building mechanisms also left investors hesitant about the credibility of the investment opportunities presented to them.While today’s crowdsourcing platforms have become more inclusive and accessible, allowing investors of varying experience levels to participate, many platforms still face challenges.ragmented and limited matching processes often hinder the connection between investors and suitable startups. In most cases, personalization features remain basic, providing a generalized experience rather than targeted recommendations that could improve investor satisfaction and startup outcomes. Transparency issues also persist, as many platforms lack the necessary depth of information to enable well-informed investment decisions, which can result in investor reluctance. Security vulnerabilities, likewise, continue to pose risks, creating barriers to participation and hindering the trustworthiness of these platforms. To address these challenges, this project proposes the creation of a full-stack web application for crowdsourced investment that leverages blockchain technology to improve security, transparency, and trust. Unlike traditional platforms that use simpler marketplace models, this proposed application will feature a range of advanced functions designed to enhance the user experience and build confidence. Blockchain will serve as the backbone of the platform, ensuring that all data and transactions are tamper-proof. The immutable records created by blockchain technology will enhance transparency and accountability, providing both startups and investors with the reassurance that all information is accurate and secure. By integrating these innovations, this platform seeks to improve the efficiency, security, and reliability of crowdsourced investments, fostering a more dynamic and trustworthy investment ecosystem. Investors will benefit from a secure and transparent platform where they can explore opportunities with confidence. Startups, on the other hand, will gain access to a more sustainable and supportive fundraising environment, helping them achieve long-term growth. Ultimately, this project aims to create a more robust, secure, and efficient investment experience that empowers businesses of all sizes to access the capital they need to succeed.

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Cite This Article

ISSN: 2349-6002
Volume: 11
Issue: 8
PageNo: 513-517

Web Crowdsourcing for Collective Intelligence

Available:https://ijirt.org/article?manuscript=171522

Impact Factor
8.01 (Year 2024)

UGC Approved
Journal no 47859

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