Kyung Wook Heo’s scientific contributions

Crowdfunding is a great way of financing across industries and is widely used in the entrepreneurial world, education, health, and social causes. However, traditional crowdfunding is not devoid of certain problems such as data breaches and scams related to the undertaken projects. This paper aims to increase the security and transparency of crowdfunding, where blockchain and federated learning can be implemented. Contributor data are given private treatment in operations that involve Secure Multi-Party Computation (SMPC) to preserve anonymity and secure the transaction. Using the concept of smart contact-based crowdfunding in this paper, the author has analyzed the available literature, to gain an understanding of how to unlock the disbursement of funds based on specific milestones assisted by smart contracts on the Ethereum platform. The paper offers a wide framework of reference that points out the best practices and potential flaws of the envisaged blockchain crowdfunding ecosystem used in the paper.