NFTs for Trustless Donations

Abstract

University donations currently require a level of trust that funds are used according to their intended purpose as specified by the donor. Blockchain technologies, to include non-fungible tokens (NFTs), enable the design of new systems featuring transparency, verification, and immutability. Combining this technology with encryption technologies can preserve donor and university confidentiality and compliance where required. In this research, we develop a prototype using the Solidity programming environment to leverage the Ethereum as a decentralized ledger. Our design employs smart contracts to transfer currency and provide donors transparency on the actual use of funds. The design is an initial proof-of-concept to explore how blockchain technologies can enhance current university development processes for charitable giving. Presented at the 2023 NC State Undergraduate Research and Creativity Symposium, Raleigh, NC.