  On-campus activities like positions of responsibility in campus amenities and
participation in research, benefit the students as well as the university,
while also making students financially self-sufficient to a certain extent.
However, this student participation is stymied by lack of awareness and
motivation. Significant impetus to innovation and student participation can be
provided by incentivization of these activities. In this paper, we propose a
system to create a blockchain-based economy, to incentivize students with
empirical benefits or monetary awards calculated using objective algorithms.
The incentivization algorithms have been designed for three promising use
cases: research work, positions of responsibility in universities, and
crowdfunding. The demonstrated implementation of this system utilises VJTI
Chain, an already established Proof of Authority blockchain in VJTI Mumbai,
India. This creates a circular economy within the university which encourages
students to earn more rewards by reinforcing positive feedback.
