The Bounties Network is created based on the philosophy of Open/Distributed Innovation, a mindset that advocates organization to look beyond their institutional boundaries for innovative solution or industry insights.
Many technology firms have leveraged Open Innovation to create business models that harness ideas for their internal usage. For example, Apple feeds its users with content and apps created by external developers on its Apple Store. Amazon outsources its tasks to global workforce via Amazon Mechanical Turk. Latecomers such as Threadless organizes design competition to identify its best-selling t-shirts. As digital technology increases human connectivity, along with a global supply of technical workforce, open innovation has fueled a new wave of platformization, which has grown stronger across all sectors.  
However, there is an inherent limitation to the platform-oriented business model. As Bergvall-Kareborn and D. Howcroft point out, existing players serve as centralized platform owners that design, control and liason among a Network of external participants. They are the final gateway to consumers, and thus have the final say over who gets to be included and when the game rule gets changed. Besides, there are also issue such as Intellectual Property, Labour, and Payment settlement issues that further complicate the business model. This form of tight control has led some scholars to consider such platforms as “open but not open”. 
A real open network is a decentralized network
To solve the centralization issue of existing crowdsourcing platforms, The Bounties Network leverages blockchain technology, a distributed technology that records transaction in a peer-to-peer fashion. Similar to traditional Open Innovation ideology, blockchain advocates collecting and trusting wisdom from the crowd. But more importantly, through tokenization and smart contract, blockchain adds a flavor of decentralization to Open Innovation, meaning that rather than relying on platform owner to dictate the rule of crowdsourcing, users design the mechanism of how each bounty is created and fulfilled. 
Specifically, through the Bounties Network, users engage directly with each other on problem-solving, voluntary participation, and self-organizing collaboration. For example, the WWF created a bounty that requires any user to pick up trash, submit verifiable proof. Once done so, user will receive 10 DAI token as a reward. There is no criterion or approval agency that controls whether a user’s bounty is valid or not, nor is there dispute over when and whether a bounty is paid out or not. Users have complete control over how initiator and fulfiller wish to manage the bounty 
Most importantly, due to the programmable nature of blockchain, all rules can be written in a smart contract and execute when conditions are satisfied. Audit trail of asset/token ownership is recorded on a shared ledger to prevent potential dispute. 
How to sustain a bounty network?
Blockchain-oriented Open Innovation is still a nascent concept, and faces many challenges both from short term and medium term perspective.
Short term: to initially attract users to the Network, there has to be a diverse range of tasks associated with good rewards. As Lakhani and Panetta emphasizes in their paper, “distributed innovative system is driven by the granularity and diversity of the tasks available in a given context”.  Therefore, the initial set of tasks determine the type of users and tasks dominating the platform in the future
Medium term: once users are on boarded, the key is to continuously engage them so that more bounties are created and fulfilled. After all, why would a firm seek external ideas when it has an internal team to solve problem? For a user to stick with the platform, there has to be either extra insight drawn from the platform, or a sense of identity and community that motivates participation. Therefore, the Bounties Network must design mechanism so that talented users are intrinsically motivated to stay with the community. These can be achieved by assigning extra bounty to exceptionally good fulfillments, or create a social network community so that top performers are recognized, rewarded, and incentivized to stay longer in the community.
It’s all about the community
An ancient Chinese proverb says that “the fire burns higher when everybody adds a little bit wood to it 众人拾柴火焰高”. Indeed, having wisdom of the crowd does not just mean having a larger pool of resources, but having the freedom to work in a complete peer-to-peer fashion.
However, the vision of shifting all future tasks to Bounties is without question, as not all tasks can be fulfilled through external participants.  Therefore, the Bounties Network must be realistic about the type of community it aspires to build: is the community targeting B2B users or B2C users? are the tasks mainly innovation-oriented or lower skill sets? Would people utilize it for crowdfunding or ideation?
Maybe we should put these question as bounties on The Bounties Network.
 L. Christopher. Tucci, H. Chesbrough. F. Piller, and J. West, “When do firms undertake open, collaborative activities? Introduction to the special section on open innovation and open business models,”Industrial & Corporate Change,25, 2 (April 2016): 283-288. DOI: 10.1093/icc/dtw002
 H. Chesbrough .and M. Bogers,‘Explicating open innovation: Clarifying an emerging paradigm for understanding innovation,’in H.Chesbrough, W.Vanhaverbeke and J. West (eds.), New Frontiers in Open Innovation. Oxford University Press (2014): Oxford, UK,pp.3-28 .
 B. Bergvall-Kareborn and D. Howcroft. Crowdsourcing and open innovation: A study of Amazon Mechanical Turk and Apple iOS. Presented at The 6th ISPIM Innovation Symposium –Innovation in the Asian Century, Melbourne, Australia (December 2013).
 M. Cusumano. Platforms and Services: Understanding the resurgence of Apple, Communications of the ACM (2010), 53:10, 22-24.
 Y. Chen. Blockchain tokens and the potential democratization of entrepreneurship and innovation. Business Horizons, Volume 61, Issue 4, July–August 2018, Pages 567-575
 Simona Pop. Bounties for the Oceans: Philippines Pilot. (Accessed: November 2018). https://medium.com/bounties-network/bounties-for-the-oceans-philippines-pilot-db4319b0012
 Mark Beylin. The Importance of Standards for Bounties on Ethereum. (Accessed: November 2018). https://medium.com/bounties-network/the-importance-of-standards-for-bounties-on-ethereum-93b518d14f9c
 K. Lakhani and J. Panetta. The principles of distributed innovation.Innovations: Technology, Governance, Globalization 2, no. 3 (Summer 2007): 97–112
 K. Boudreau and K. Lakhani. How to manage outside innovation. MIT Sloan Management Review 50, no. 4 (Summer 2009): 68–76.