Bitcoin Association, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV blockchain, has awarded the 2021 Satoshi Nakamoto Scholarship to the same student for the second consecutive year. Robin Kohze, who is undertaking his PhD in Genetics at the University of Cambridge, has been granted the scholarship.
The Satoshi Nakamoto Scholarship is an annual educational fund awarded “to an exceptional student to support the study and development of blockchain applications that leverage the unique qualities and capabilities of Bitcoin SV.”
Kohze was also chosen as the inaugural Satoshi Nakamoto scholar last year due to his development of the HIVE platform and protocol, an information protocol built on the Bitcoin SV blockchain geared towards creating “an ever-expanding network of context and knowledge.” Kohze was also a finalist in the second Bitcoin SV Hackathon using this concept as an entry, which became a working platform last year at raspora.com.
“The HIVE protocol is all about creating new incentives to generate content in a network-based way. It’s a new model of social media incentivisation. If we look back to 2005-06, we saw companies like Facebook and Twitter coming up, but they all were based on the same core concept: getting views, likes and replies. In those systems, there is a high threshold where you need to have thousands of viewers first before you generate any revenue. That is the status quo, but it doesn’t need to be with Bitcoin SV. Because it doesn’t require any intermediaries, it can cut the costs and fees incurred in-between, meaning that when used correctly, you can directly profit from your content,” Kohze explains in an interview.
Kohze says he plans to use the 2021 award to further improve and develop the protocol and he also aims to publish a research paper delving into the theoretical groundwork of the system. He intends to focus this year on the incentive system so it can be successfully adopted by the Bitcoin SV ecosystem.
“The idea is that you have this dynamically growing incentive system – the more a chain of interactions gets liked, the more profitable it becomes for everyone, so it makes sense to create value around it. At the same time, it’s fading away the spam, because spam generally needs to be low-cost and high impact. Under this incentive system, you are only giving money to those who created actual value,” Kohze states.
It is a system based on merit where people can earn revenues by creating valuable content. This is just one of the innovative use cases of the Bitcoin SV blockchain. There are currently more than 400 projects and ventures in the growing Bitcoin SV ecosystem.