Using the Blockchain and Smart Contracts to Manage Grants Jason E. Barkeloo jason@Knowbella.Tech
Simplified Evolution of Network Architecture Centralized Decentralized Distributed
Blockchain Cryptographically secure and globally distributed ledger
Blockchain Immutable: Not changeable by anyone after the fact Transparent: Everyone can see the entry Trusted: Even when the parties who write to it are not trusted by each other, because trust is not needed
What is a Smart Contract?
Smart Contract Computer program that is stored and runs on the blockchain Defines set of rules and procedures relating to a binding agreement between parties like a traditional contract, but unlike its paper counterpart, it can automatically enforce these obligations.
How Smart Contracts Can Improve Grant Funding?
US Patent Filing 62/555,989 Systems and Methods for Providing a Decentralized Platform for Connecting Members of an Open-Science Community
SUMMARY 1. Decentralized platform for connecting members of an open-science community 2. Connecting researchers with collaborators and/ or funders 3. Generating decentralized electronic contract 4. Track progress of research project and direct payment of funds in awarded tranches
Researchers Grantors Have Know-How Have Resources Both share the desire to advance science!
Researchers Grantors Have Know-How Have Resources
Prepare Smart Contract 1. Define a number of tranches of research; each tranche defines: Budget Time frame Description of deliverables 2. Reference immutable copies of original proposal IPFS or Swarm 3. Store all grant monies Ether or Helix. Converts to stable-coin to avoid FX Risk.
Smart Contract Once “Executed” the contract is: 1. Sent to the Blockchain 2. Process starts Immediately, or Pre-determined date
Life-cycle of a Funding Tranche 1. Distribute funds 4. Grantors vote to to researchers accept and continue for current to next tranche tranche 2. Research performed 3. Research results published
1. Continues until all tranches have been completed; Or 2. Some failure occurs: Unexpected discovery; Run out of time; Failure to vote
Safe premature exit 4. Remaining funds returned to grantors
Immediate Benefits Reduced overhead costs to manage grants Increased speed of grant awards Increased collaboration
Contact Jason E. Barkeloo jason@Knowbella.Tech
305: Proposal submitted for community-based project 310: Funds committed by community 315: Community-based peer review and voting of proposal 320: Contract activated and 1st portion of research begins 325: If time met, 2nd tranche of funding unlocked 330: Working toward meeting deliverable goal 335: Working toward meeting deliverable goal 340: Deliverable/manuscript submitted 345: Community votes; “Yes” and next tranche delivered 350: If “No” vote reached, funds redistributed to new proposal
Genesis block blocks
405: Proposal submitted for community-based project 410: Funds committed by grantor 415: Helix token sale; goal met and researcher notified 420: Purchase of Helix tokens recorded 425: Countdown for meeting 1st research goal begins 430: Funds unlocked and provided to researcher 435: Working toward meeting deliverable goal 440: Working toward meeting deliverable goal 445: Deliverable provided and recorded to blockchain 450: Helix holders vote; “Yes” and next tranche delivered 455: If “No” vote reached, funds redistributed to grantors
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