Thanks for the kudos and the topic creation @ADALove!
I haven’t posted before now because I wanted to let the ideas percolate a bit first. Here’s what I’ve got so far:
I’d like to see the community get behind an education initiative (Blockchain Education Initiative or BEI) moving forward. I believe we should develop plans for all levels and demographics.
Huge project, right?
Something this big will require a lot of time, resources and work. It will certainly be costly.
Who will do the work?
Who will they be accountable to?
How do we pay for it?
According to the “Monetary Policy” section of the Cardano documentation, 25,927,070,538 ADA have been distributed to the public, leaving 5,185,414,108 in the hands of the principals of the project (Emurgo, IOHK, and the CF) and 13,887,515,354 for minting. Altogether, 45 billion total ADA.
I’d like to suggest that Emurgo, IOHK, and the CF create a fund from their holdings equal to 2% of the total tokens possible – 900 million ADA. Dedicate this fund to staking ADA for the BEI.
My understanding is that minting will initially start out at 5%-10% of delegated stake per year, and reduce as time goes by. It’s also a good bet that the value of ADA will increase for many years. The minting production of this fund might look something like the table below.
Year Mint % Coins Minted USD Value
1 9% 81,000,000 $202,500,000
2 8% 72,000,000 $360,000,000
3 7% 63,000,000 $630,000,000
4 6% 54,000,000 $1,080,000,000
5 5% 45,000,000 $1,350,000,000
: : : :
: : : :
10 2% 18,000,000 $1,800,000,000
As we can see, the funds generated by the initial stake start out large and become enormous quickly, but let me ask: Is 2% of our time, effort, and resources too much to ask for the betterment of society through education?
How do we spend the money?
Create an oversight committee and task it with designing and managing education programs. Hire teams of educators and developers to develop and implement the projects. The oversight committee should be accountable to the greater Cardano community, and the project participants should be accountable to the oversight committee. Transparency at all levels must be provided.
What sorts of programs might we develop?
If we want to foster a fair and equitable society, we might start by encouraging learning, sharing and collaboration. Start with simple programs to teach kids the basics, but add in bonuses for group performance. Example: A child masters a subject and displays excellent understanding of it. That child gets an A grade. However, if the group to which that child belongs performs at a superior level, that child gets an A+. Thus, the children are given incentive to help and encourage all members of their groups.
As students progress, they might learn more advanced subjects such as coding, smart contract development, community governance, project management, and so forth related to blockchain.
A consideration for the initiative might be to create a “student record” system on a side chain dedicated to tracking all students’ academic performance. Code can be developed to create fair distribution of students in groups, so “all the smart kids” don’t end up in the same groups and unfairly skew outcomes. Access to student records might be provided to individuals and organizations only with the approval of the student or their guardian through a multi-sig system.
Systems of rewards for students, educators, and schools might be developed as well. I think we can assume that educators and school administrators will be much more enthusiastic about this idea if we provide incentives!
That’s all I’ve got at this moment. I’d really like to see the community flesh these ideas out, and I would really appreciate feedback from the principals (@jonmoss). Thanks for sticking with me through this long post!