RE: The Gridcoin Treasury - A Proposal
Here is an idea that could be added under Generating Funds.
Let's say a research institution has a grant that includes funding for computations on a large project, or a private corporation has a need to crunch through a massive dataset. The Gridcoin Treasury could have a mechanism in place for bringing self-funded computational work onto BOINC. The research institution or corporation could propose their idea to the Gridcoin Team. If it passes certain tests (legitimate computational work, etc), then the Gridcoin Team could provide the project with a path to quickly get their project onto a self-funded whitelist. The research institution or corporation could purchase GRC on the open market or directly from the Gridcoin Treasury. The purchased GRC would be used to fund the rewards for those who lend their computers to crunching the BOINC project. The Gridcoin Treasury could charge a fee for providing support to get the project to BOINC and integrating it into the self-funded whitelist.
For example, Company XYZ wishes to test a large dataset of potential biomarkers for genetic research. They see BOINC as a cost effective solution for the computational work. Company XYZ proposes their project to the Gridcoin Team and it is accepted (there may need to be an extra step for helping the Company to get the project into a format for BOINC work unit distribution). Company XYZ buys $1MM worth of GRC on the open market and/or from the Gridcoin Treasury. Their project gets added to a special whitelist for self-funded projects. Gridcoin participants direct their computing power towards the project. The rewards for generating RAC/magnitude are directly withdrawn from the Company's account that is held by the Gridcoin Treasury, i.e., the rewards from this project are not taken from the normal GRC supply awarded each day. The Company may wish to sweeten the pot to attract participants to their project by awarding higher levels of GRC for the RAC/magnitude than is typical with other whitelisted projects. Therefore, Company XYZ gets their computational work completed faster and sees quicker return on investment. When their GRC account is drawn down or the workunits are completed, the project is complete and taken down from the self-funded whitelist.