A Decentralized Grant and Bounty Platform

Abstract

We continue to observe in our classes and web-based discussions that traditional grant and bounty systems are a very messy business. They are usually difficult to read between the lines since the money does not get distributed properly, the payouts are extremely slow, and you are left at the mercy of the central bodies which may be biased or simply not do their job.It made this assignment a paper proposing a Decentralized Grant and Bounty Management Platform based on blockchain and smart contracts. The best thing is that the site allows organizations to place grant or bounties on specific projects, and individuals in the community can submit their proposal or solution in a secure and verifiable manner. Then the work is automated with smart contracts that automatically do the grading, the checking and the rewards, and we only have to set up rules that would make this process automatic, thus no human being needs to do the tedious check-lists and we reduce the number of errors or even fraud. The system maintains the safety of transactions, their impossibility to be changed, and the display of all in real time due to its full decentralization, which instills responsibility and makes all more reliable. Overall, it is not only that funding and rewards become smoother with the help of this platform, but that it also challenges the world to collaborate and be more innovative as it gives us a reliable, fair, and easily auditable system to all our grant and bounty requirements.