TY - GEN
T1 - Developing Blockchain-Based Crowdfunding Model for Property Investment
AU - Berawi, Mohammed Ali
AU - Radjilun, Mohamad Khaerun Zuhry
AU - Sari, Mustika
N1 - Funding Information:
The authors would like to thank Indonesian Ministry of Research and Technology for the support given to this research.
Publisher Copyright:
© 2021, Springer Nature Switzerland AG.
PY - 2021
Y1 - 2021
N2 - Crowdfunding is an approach that has been widely used to raise capital from individuals to finance a venture, known for its ability to reach a large pool of new capital gathered from the crowd. Though it has been extensively applied to finance property developments in real estate industry in some countries, crowdfunding method still has some drawbacks in regard to the accountability and transparency of the platform. Hence, this study attempts to propose a crowdfunding model for property investment that takes into account blockchain technology addressing those shortcomings. Both qualitative and quantitative methods are used to achieve the objectives of this study through literature review, questionnaire surveys, benchmarking study, and expert interviews. As a result, the features of crowdfunding platform utilizing blockchain technology that can improve the accountability and transparency are determined, and the design of the operational workflow for the blockchain-based property crowdfunding platform is proposed as an alternative to the conventional crowdfunding platform, therefore addressing financial issues in property investment.
AB - Crowdfunding is an approach that has been widely used to raise capital from individuals to finance a venture, known for its ability to reach a large pool of new capital gathered from the crowd. Though it has been extensively applied to finance property developments in real estate industry in some countries, crowdfunding method still has some drawbacks in regard to the accountability and transparency of the platform. Hence, this study attempts to propose a crowdfunding model for property investment that takes into account blockchain technology addressing those shortcomings. Both qualitative and quantitative methods are used to achieve the objectives of this study through literature review, questionnaire surveys, benchmarking study, and expert interviews. As a result, the features of crowdfunding platform utilizing blockchain technology that can improve the accountability and transparency are determined, and the design of the operational workflow for the blockchain-based property crowdfunding platform is proposed as an alternative to the conventional crowdfunding platform, therefore addressing financial issues in property investment.
KW - Blockchain
KW - Crowdfunding
KW - Operational workflow
KW - Platform features
KW - Property investment
UR - http://www.scopus.com/inward/record.url?scp=85113710121&partnerID=8YFLogxK
U2 - 10.1007/978-3-030-84845-3_2
DO - 10.1007/978-3-030-84845-3_2
M3 - Conference contribution
AN - SCOPUS:85113710121
SN - 9783030848446
T3 - Communications in Computer and Information Science
SP - 23
EP - 39
BT - Innovations in Digital Economy - 2nd International Scientific Conference, SPBPU IDE 2020, Revised Selected Papers
A2 - Rodionov, Dmitrii
A2 - Kudryavtseva, Tatiana
A2 - Skhvediani, Angi
A2 - Berawi, Mohammed Ali
PB - Springer Science and Business Media Deutschland GmbH
T2 - 2nd International Scientific Conference on Innovations in Digital Economy, SPBPU IDE 2020
Y2 - 22 October 2020 through 23 October 2020
ER -