The rising number of frauds in the realm of crowd fundraising is a serious issue. People ask for money to create their product and execute some type of promotion on several popular crowdfunding sites, such as kickstater, and then walk away with the money they've raised. Now it's up to the campaign creator to decide whether to spend the money on the product and deliver some portions to their donors, or to waste it. Now, Fund-it is a blockchain-based project that regulates where the money may be sent by the primary individual.
I want to make it easy for contributors to keep track of the money they've provided by giving them complete control. Contributors to fundit no longer give money to a management or idea person; instead, they submit money to an ethereum contract that governs who may get money from the contract. When a manager wants to spend money, he must establish a spending request in the contract, which will transfer the money to an external vendor if the majority of contributors approve the spending request, and will be refused if not.