Abhishek Parolkar assigned to participants

Method and System of raising funds using digital currency mining and Micro-Tasks

Description
The main goal of Bureau Of Interchange Networks, also identied as BOIN is to act as intermediary and enable fundraising individuals/organizations in accessing funds which are generated utilizing computing power and/or human ability of the participant (or volunteer).

Abhishek Parolkar assigned to participants

Method and System of raising funds using digital currency mining and Micro-Tasks

Figure 1 illustrates various components and interaction between them which constitutes a system of raising funds for any individual or organization. Bureau of Interchange Network (BOIN) [22] is an intermediary which facilitates the interaction between other parts of the system and acts as catalyst in the process of fund raising. BOIN is also responsible to store digital assets on behalf of parties involved and act as a depository. Fund raising organization [24] partners with one or more Micro-Task Supplier [28] and approaches BOIN to facilitate the further interaction so that tasks from Micro-Task Repository [30] can be assigned to users [38] or their computing device [34]. User [38] who owns computing device [34] instructs the device to act on behalf of the user to accomplish a task which is either running an algorithm or performing a micro-task. A Micro-Task in the context of this system is dened as unit of work which requires up to 15 minutes of human time and/or up to unlimited computer time to accomplish desired result. Internet [32] becomes the medium of communication between parties as illustrated in Figure 1. The results from assigned tasks are stored on device's storage [36] and can also be transferred and held in BOIN's Depository. These results can be in form of digital or virtual currency that can be traded at Currency Exchange(s) [26] or in form of soft goods that can be delivered back to Micro-Task Supplier (28) in exchange of value which is relevant to Funding Organization [24]. Figure 2 Describes the process and steps followed in order to complete the transactions.

Abhishek Parolkar assigned to participants

Method and System of raising funds using digital currency mining and Micro-Tasks