Developing Blockchain-Based Crowdfunding Model for Property Investment

Mohammed Ali Berawi, Mohamad Khaerun Zuhry Radjilun, Mustika Sari

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

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.

Original languageEnglish
Title of host publicationInnovations in Digital Economy - 2nd International Scientific Conference, SPBPU IDE 2020, Revised Selected Papers
EditorsDmitrii Rodionov, Tatiana Kudryavtseva, Angi Skhvediani, Mohammed Ali Berawi
PublisherSpringer Science and Business Media Deutschland GmbH
Pages23-39
Number of pages17
ISBN (Print)9783030848446
DOIs
Publication statusPublished - 2021
Event2nd International Scientific Conference on Innovations in Digital Economy, SPBPU IDE 2020 - Virtual, Online
Duration: 22 Oct 202023 Oct 2020

Publication series

NameCommunications in Computer and Information Science
Volume1445
ISSN (Print)1865-0929
ISSN (Electronic)1865-0937

Conference

Conference2nd International Scientific Conference on Innovations in Digital Economy, SPBPU IDE 2020
CityVirtual, Online
Period22/10/2023/10/20

Keywords

  • Blockchain
  • Crowdfunding
  • Operational workflow
  • Platform features
  • Property investment

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