The Tokenomics of Knowledge

Photo by Timo Volz on Unsplash

Academic research is a noble cause which adds to the repository of public knowledge. But those who undertake academic research take on a lot of personal responsibility and, ultimately, a lot of risk.

  • Risky research can result in career ruin
  • Costly research may fail to raise the necessary funding
  • New discoveries may supersede existing findings

Creators should be directly incentivised to push the boundaries of human knowledge, but existing processes financially reward the big players while the authors generally miss out.

What if there was a way for researchers to recuperate personal and financial costs directly? Maybe even generate revenue from their work? Could researchers generate financial value from their work, even during the research process?

Research Tokenomics

Tokenomics introduces a new method of revenue generation or self-funding without the need of an intermediary or “middle-man”. In a similar way that cryptocurrencies take the bank out of the middle of a transaction between parties, research tokenisation would take corporate funders and publishers out of the academic process.

Micro-Payments for Cited Work

One example of this would be micro-payments for cited work. When an author publishes his/her work, the findings of that work is often used by other researchers in their studies, to validate certain assumptions – building upon the work of others rather than having to create concepts from scratch.

Research tokenomics would transfer a small amount of tokens to the original authors of the work every time it is referenced. The more useful or applicable the research, the more it is cited and the more tokens the authors can expect to earn. (Think of BAT* for content producers but in the academic space.)

(*BAT is Brave browser’s token. You can earn BAT by either watching ads or by authoring content. Others can contribute BAT when they consume content. This can either be a one-off payment or some kind of ongoing subscription. Instead of Google getting revenue for you consuming ads, or for you posting your content to Facebook who then monetise it, the end users are directly rewarded.)

The KnowledgeArc Network platform deploys smart contracts which track the citations of academic works and generate tokens, which are paid out to the original producers.

Researchers Could Raise Tokens Before Research Completed

Potentially, researchers could even raise tokens before and during the research process, introducing a funding dimension to the tokenomic model.

Ultimately, authors would be able to be rewarded for the huge burden they take on as creators of knowledge.

Find out more about how KnowledgeArc Network is revolutionising how researchers can directly profit from their work.

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Coronavirus and The Paywall Dilemma (Information Series Part II)

As the Coronavirus crisis deepens, quality information is critical to individual, community, state and national preparedness. Staying informed should be easily available in the “digital age”, and it is, but with a considerable cost, both financially and in terms of human health.

Some very large publishers have managed to develop very large revenue streams by restricting access to valuable data. Using paywalls and subscription services, these organisations generate large revenue streams for material they do not author.

As the “middleman” they can charge sizeable access fees which are too costly for most individuals and smaller institutions, especially in developing countries.

Subscriptions also require a large upfront payment, something that’s unattractive to someone simply looking for a particular piece of information.

In recent years, there’s been growing concern around the monetisation of academic research which is:

a) in the best interests of the public

b) funded by the public purse

Europe has been taking a strong stance on ensuring publicly funded academic research be available for free and there has been increased scrutiny around the limitations of paywalls and other subscription-based models when accessing medical and other scientific research.

And Coronavirus has only reinforced the negative impact of paywalls on the dissemination of life-saving information and the real world implications it’s having on people’s ability to find quality research.

Researchers and authors do need to be compensated for their efforts but opportunistic “middle-men” should not be entitled to profiteer off of the hard work of others.

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July 2019 in review

July may have been light on news but there have been a lot of developments which will improve KnowledgeArc.Network’s technology moving forward.

Using ARCH for covering Ethereum network costs

We have been investigating the concept of zero gas charges for our upcoming smart contracts. This means that you will not have to hold Ether, the default currency for handling any transaction fees on the Ethereum blockchain, when dealing with our smart contracts. Instead, all fees will be handled using Archive (ARCH) tokens which should aid in onboarding new users to the decentralized archive.

OrbitDB CLI

One of our developers has been working with the OrbitDB community to develop another way to communicate with the decentralized database system. For developers and technical users, you can find out more at https://github.com/orbitdb/go-orbit-db/.

Knowledge Identifiers

We’re working on a decentralized digital asset identification system using Ethereum smart contracts and OrbitDB. Knowledge Identifiers will provide an alternative to existing, centralized solutions such as Handle.net and DOI.

Such a system will provide immutable, permanent identification of digital assets, collections and even users in a trustless way, which means users won’t be beholden to a single point of failure; instead they will be able to manage their identifiers on chain with no 3rd party dependency.

This opens up exciting new use cases; identifiers will no longer simply be permanent links to an item. Instead they could potentially open up licensing, citation and other opportunities.

June 2019 in review

June was an important month in the evolution of KnowledgeArc.Network. We review some of the highlights from the month.

Whitepaper

We released our whitepaper early in June. This was an important step; even though we had been developing features and software for over two years, the whitepaper captured the reason behind KnowledgeArc.Network and distilled what our ecosystem is all about at a higher level.

Deploying our whitepaper to IPFS also highlighted our commitment to distributed technologies.

Exchange Listings

We’re committed to decentralization, distribution and democracy. Therefore, we are excited to see our cryptocurrency, Archive (ARCH), listed on two decentralized exchanges; SwitchDex and Ethermium.

We hope this will make it easier for our community to obtain Archive for ongoing development in the KnowledgeArc.Network ecosystem.

OrbitDB

It’s important for decentralized applications to move forward, and to be actively developed and supported. However, with dApps and other distributed applications being nascent technologies, not all of the underlying architecture is ready for production. As is often the case, software is still going through active development and requires a lot of resources to get it to a stable, production-ready state. This can mean that projects look stagnant even though developers are hard at work on various, related projects.

KnowledgeArc.Network is using IPFS as the underlying storage mechanism. This includes OrbitDB, a decentralized, peer-to-peer database system, which uses IPFS for replication. OrbitDB is a powerful technology and will be one of the cornerstones of the new Web3, similar to what MySQL did for the Internet v1.

OrbitDB will be KnowledgeArc.Network’s decentralized storage layer, storing metadata and other supporting information. The ecosystem will be able to replicate these OrbitDB data stores as well as combine them to form larger databases.

OrbitDB is under active development. That is why we have contributed time and resources to assist with the success of this project. Some of our work includes co-contributing to the HTTP API and field manual as well as maintaining the Go implementation of OrbitDB.

The KnowledgeArc.Network Working Group

We have started a working group, a place for advisors and experts to discuss ways to decentralize archiving, peer review and journalling.

During June, we invited some project managers and librarians who work in the archiving space to join our working group and we welcome these new members. We hope to expand this group of experts and look forward to seeing what insights they can provide to this new ecosystem.

Decentralizing Attribution Using Po.et

Successful management of copyright is integral to an academic repository. Attribution, citation and licensing all depends on clear terms of use as outlined in an archived item’s metadata. Decentralizing attribution using po.et and blockchain technologies is an effective method to achieve this.

Current Implementations use centralized methods to store copyright and licensing terms and these terms can be easily changed or manipulated at any time. What is needed is an trusted, immutable ledger of timestamped items, stored in a way that is accessible to all.

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Archive Token Launch

We have been quietly launching our new utility token, Archive (ARCH). Designed as method of exchange across KnowledgeArc.Network, Archive will be used to power the archiving ecosystem.

Roadmap

We have been working on the implementation of our Archive token for almost 12 months now. We have identified various use-cases which we have grouped into short, medium and long term goals.

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