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Donation Model Development Based on the Methodologies of Blockchain
Abstract
In order to solve the problems occurring in the current donation systems, the methodologies of blockchain include decentralized data storage, transaction hash, digital signature, blocks connection within the chain are adopted to the donation model, called blockchain donation model (BDM). In BDM, all donation transactions are recorded in detail and stored permanently; they are not allowed to change, modify, or delete. In addition, donors could indicate the specific groups for donating directly because of the peer-to-peer transmission method. All the information is sealed through the secure mechanism; only donors and donees could decrypt it with their own keys. BDM records transaction flows starting from receiving to spending the donation in detail. BDM is not only a place for listing details of donations but also a secured transaction storage. The blocks are connected together with a strong chain which is maintained by all nodes in the blockchain network. Thus, BDM is a platform dealing with the donation issue under a well secure mechanism, no intermediaries, and a permanent storage.
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