What’s it like to start a research project on ResearchHub? Edmilson Rodrigues tells us the fascinating story of how he created an open-source research project on the platform and how he got it funded through the power of the platform’s bounty mechanism. Edmilson (Ed) Rodrigues is the CEO of Lovecrypto and holds an MSc in Computer Science from the Federal University of Pernambuco (Recife, Brazil). His start-up Lovecrypto works on the interoperability of cryptocurrencies with CBDCs (Central Bank Digital Currencies) in Brazil. Ed's interest in interoperability between cryptocurrencies and CBDCs led him to discover ResearchHub through a tweet by @AdamDraper. Impressed by ResearchHub's features, especially the incentive mechanism, Ed embarked on his own research project. He posted a description of his project with a call for collaborators, added a 100 $RSC bounty, and hoped for the best.

Ed’s Problem.

In a video interview with us, Ed shared his perspective on ResearchHub: “I am a strong advocate of decentralized science.” Moreover, he points out, “Getting in early in something that has this much potential for growth is very exciting.” As CEO of a startup focused on crypto-CBDC interoperability, he aimed to map the complex interoperability landscape, cataloging global projects addressing this challenge. Given his role as a busy CEO, it was evident that Ed could not undertake the task alone and that he needed funding. Realizing these needs, Ed leveraged ResearchHub's incentive mechanism, offering a 100 $RSC bounty to attract researchers to his project.

“Getting in early in something that has this much potential for growth is very exciting.”

A Remarkable Beginning.

Ed’s plunge into the platform had a spectacular outcome. He outlined his project, invited collaborators, and committed 100 $RSC as a bounty. What followed was outstanding. The ResearchHub community noticed his post and appeared to appreciate his plan, as they quickly joined in and contributed additional $RSC to the initial bounty. The initial bounty multiplied 40-fold accumulating to a substantial 4000 $RSC. “It was very impressive to see how the community came together and funded the project,” Ed tells us.

Ed continues: "Four to five individuals responded, with two showing unwavering commitment, becoming my collaborators." Andy Yee, a fintech expert from Hong Kong, and Mikailu Nador, a civil engineer from Nigeria, joined the team. Andy was certainly no fraud; educated at Cambridge University with previous Fintech experience at Visa and Google, he was a perfect candidate. So was Mikailu, a civil engineer and Web3 enthusiast from Africa’s hottest Web3 hotspot — Nigeria. This diverse team spanned three continents: South America, Asia, and Africa. Reflecting on his team with an enthusiastic tone in his voice and a broad smile on his face, Rodrigues elaborates: “I connected with people from around the world whom I had never met before, collaborated entirely online, and even received online donations from people I have never seen. This embodies the true essence of decentralized science.”

The Complexity of Decentralisation.

However, operating globally posed significant coordination challenges. With team members spread across different continents and time zones, ensuring effective communication and collaboration required careful planning. Nevertheless, in only 30 days, the length of time before a bounty on ResearchHub expires, the team compiled all the information and published it on ResearchHub. Ed explains: “We communicated exclusively via email.”  Together, the three researchers discussed what they needed to do and eventually converged on a simple methodology. The team agreed they would compare all the projects working on interoperability of cryptos with CBDCs on the same eight variables (e.g. Where is the project?, Who is involved? etc… ). They concluded by compiling a table of all the projects they could locate and evaluating them across the eight variables. In hindsight, “extending the bounty expiration date beyond the initial 30 days could prove beneficial.” Ed reflects. Extending the bounty expiration beyond the initial 30 days to three months could offer a more reasonable timeline. Astonishingly, the team completed the project in just one month. The final report and table, you can access via the link below the image.

Nurturing the Seed

With the project completed, the next challenge is sustaining momentum in tracking new initiatives in Crypto-CBDC interoperability. Ed draws inspiration from projects like cbdctracker.org and is considering transforming his project into a website. Alternatively, he might turn it into a living document on ResearchHub (We refer to these living documents as perpetual reviews; check out the example on LK-99, for instance). He envisions naming his project “Interoperability Watch”. Due to the synergy with cbdctracker.org, Ed is even contemplating the direct integration of his project into the CBDC-tracker website.

To ensure the table remains current and up-to-date, Ed will rely on the collaborative efforts of the community. This is where you can play a role, assisting Ed and the team in adding the latest projects and updates to the table. Ed is currently working to encourage the ResearchHub community to initiate microgrants for such projects. If you're interested, connect with Ed on ResearchHub or Twitter.

Conclusion:

In summary, Edmilson Rodrigues accomplished the impressive feat of taking a research project from a proposal to its final publication within just one month. Through crowdfunding efforts, he successfully assembled a diverse team spanning three different continents, which included accomplished Fintech experts. A heartfelt acknowledgement goes out to Andy Yee and Mikailu Nador for their invaluable contributions to this pioneering project. When questioned about the most instrumental features of ResearchHub in this endeavor, Ed emphatically underscores the potency of the incentive mechanism. “The incentive mechanism is very powerful.” He elaborates that, in Brazil, the monthly stipend of a master’s student equates to 5000 $RSC. Illustrating how ResearchHub can truly transform the landscape for researchers in developing nations, Ed concludes "Witnessing the community’s collective effort to fund the project was genuinely impressive. My initial contribution of 100 $RSC combined with the community’s input, resulted in a total of 4000 $RSC".

“The incentive mechanism is very powerful”

If ResearchHub intrigues you, come and join the platform as a researcher. ResearchHub operates much like Reddit but for the realm of science, where the interplay of upvotes and downvotes shapes the communal forefront of scientific knowledge. The platform is overseen by the ResearchHub Foundation, a decentralized global community of scientists responsible for its governance. We, the foundation, consistently seek like-minded enthusiasts who share our visionary pursuits. Should you be interested, consider joining our Discord to become a part of this dynamic community.