Model for improvement of nonprofit student organizations funding by machine learning and digital transition to blockchain

Most student organizations can be classified as nonprofits. Sponsorships are their main source of income and fundraising is a key activity responsible for allocating sufficient funds required for project realization. Typically, companies are the principal outside stakeholders concerned with the success of student organizations' projects and their main sponsors. Financial transparency and accountability for nonprofits are crucial for their public image, mission, and achievement of planned goals. Student organizations cannot be successful and build longterm relationships with enterprises without being transparent in how the donated funds are being spent. By introducing the blockchain-based smart contracts model a student organization could publicly declare the amount of capital required for every project, its distribution as well as fundraising deadlines. As the data on the blockchain is completely transparent it can be effortlessly utilized as an input data set for building machine learning models. By employing the proposed model fundraisers could maximize project income and reduce costs by using generated predictions.