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AcademyCoin — Online education powered by the blockchain
AcademyCoin is a fully functional cryptocurrency operating on it’s own private blockchain. Enabling educators to accept international payments is only the first of many on-chain features being released. The biggest upcoming feature was all over Reddit (/r/ethereum /r/cryptocurrency) this past weekend is called "Proof of Creation."
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@stvmcg What kind of preventive measures are taken to prevent duplication of content?
@htkibar1 great question 👏 "Proof of Creation" POC is still in development and duplicate documents is being tested currently. Keeping track of all the course documents being inserted into transactions on the AC blockchain is actually a pretty fun storage problem to solve.
@alexintosh we're starting with online education. Currently there are active Udemy educators accepting ACAD for digital marketing and design courses. In 2018, ACAD will expand to a few smaller in-person courses. This will be launched once the mobile wallet for IOS and Android is built. Before launching the mobile wallet in universities like Penn State and Stanford the mobile wallet will require heavy testing from smaller in-person courses.
Can't wait to see what you do next!
Pros:Engaging, fun, easy to use educational service
Cons:None, just keep creating
@amirul thanks for the question! Yes the goal is to support both online and in-person education transactions within the next 2-3 years.
@amirul currently only 10% of the educators accepting ACAD as payment have both online and offline courses. Balancing both is difficult but a key component to developing the network.
I liked the whitepaper. When will public mining be available?
Pros:Amazing
Cons:None
Hey Steve, you have a really interesting idea here. I have some questions for you when you have a free minute!
1. You mention it's on a private blockchain - what's your tech stack? Why did you decide against doing an Ethereum-based token?
2. I see a clear benefit for educators earning coins for their work. But what balances the other side of the value equation - what will most tokens be spent on? For example, Teacher Bob gets 10 tokens from Student Alice because she signed up for his online class. What does Bob then want to use those tokens for? Or does he head straight to an exchange and sell them for a different currency?
3. Why are you doing a pre-sale rather than a pure ICO?
4. Right now this seems aimed at online content, which makes sense for a first step. Do you see this helping fund "offline" teachers at public schools in the future? There is plenty of talk about the problem of low teacher pay in the US. This seems like a platform with the potential to help solve that from the private sector, which could have major, positive long-term impacts on the US education system. I'm interested to hear your thoughts on it.
@nneuman great questions!
1 - Starting with a private blockchain allows for a safer/smooth transition to public mining. Given AC is starting with education payments and Bitcoin's blockchain has proven its financial utility far beyond Ethereum at this stage, its built closer to bitcoin's.
2 - Algorithms: X11 and DGW3
Wallet: PyQT
Target time per block: 2 minutes (difficulty recalculation every block)
Block reward: 0.01 ACAD 👈 when mining becomes public this will increase drastically to support miners.
3 - Supporting online educators with multiple features on a blockchain (including payments) opens lots of doors. When educators are paid and ACAD is listed on an exchanges they can buy and sell yes.
4 - AC aims to be the blockchain powering online and offline (in-person) education transactions. You're right that online makes the most sense currently, but in-person transactions within the next 2-3 years.
5 - The AC Token Generation Event is in November
@nneuman creating a network of educators is powerful but POC will create a network of content as well. The AC blockchain is positioned to help educators both offline and online with coursework 👍
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