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Smart blockchain networks: Revolutionizing donation tracking in the Web 3.0
(Elsevier, 2024) Nairi, Chaimaa; Cicioglu, Murtaza; Calhan, Ali
A donation-tracking system leveraging smart contracts and blockchain technology holds transformative potential for reshaping the landscape of charitable giving, especially within the context of Web 3.0. This paper explores how smart contracts and blockchain can be used to create a transparent and secure ledger for tracking charitable donations. We highlight the limitations of traditional donation systems and how a blockchain-based system can help overcome these challenges. The functionality of smart contracts in donation tracking, offering advantages such as automation, reduced transaction fees, and enhanced accountability, is elucidated. The decentralized and tamper-proof nature of blockchain technology is emphasized for increased transparency and fraud prevention. While elucidating the benefits, we also address challenges in implementing such a system, including the need for technical expertise and security considerations. By fostering trust and accountability, a donation-tracking system in Web 3.0, empowered by smart blockchain networks, aims to catalyze a profound positive impact in the realm of philanthropy.