Using ICOs to fund science


The main problem with this approach is that in academia contracts for, e.g., PhD researchers or postdocs are usually for at least 3 years, and hence tying funding to achieving short term milestones is not that easy to realize in practice. That’s why most funding agencies that offer support for basic research typically offer contracts that run for 3+ years. Of course these agencies ask for detailed work package description etc., but they will not stop funding if certain milestones after 1 year are not achieved.