Photo - eDucat
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eDucat

Developing Human Capital

Ukraine, Kyiv city
Market: Education, training, Blockchain, Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 19.02.2019
Min investment
$  400.000
Total required
$ 400.000
Rating
equalizer 272 из 1000
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Idea

Knowledge is a mean of production in the innovation economics. eDucat increases the number of educated people.
We believe that it is necessary to pay students for learning. Moreover, not just pay, but issue the money by learning process. We develop the eDucat, an educational cryptocurrency and a proof-of-learning protocol.
We decided to use the mind energy-consuming process of learning to mine the currency. Each educational institution can connect to the eDucat system. Each student can mine the eDucats by learning.

Current Status

Project Stages:
(1) Research - done.
(2) System Architecture - done.
(3) MVP 0.1 Development - done.

Short Statistics:
>170 Wallets Registered.
>800 eDucats Mindned.
>130 Transactions Made.
6 Knowledge Centers Connected.
>180 Smartcontracts Signed.

Now we work on developing MVP 0.2 and connecting new Knowledge Centers.

Market

The globe educational market is at a high of 1.9 Trillion USD now. There are 1.37 Billion potential learners in the world. And that's not including grade-school.
Our market include all countries with laws allowing mining cryptocurrencies. Our target customer are people from 20 to 40 years who wish and able to learn. Other segments:
(1) Investors in cryptocurrencies.
(2) Employers.
(3) Organizations developing knowledge and education (corp., gov.)

Problem or Opportunity

(1) Learning is a brain-consuming process, but nobody pay compensation for it. Moreover, students themselves should pay for education.
(2) Student have few time for work during education. But they need the money for living. Employees have little time for learning. But they need new knowledge to succeed in our fast-paced world.

Solution (product or service)

We believe that it is necessary to pay students for learning. We are developing the eDucat, an educational cryptocurrency issued by learning process.
Complementary products:
(1) Digital badges to proof the level of education.
(2) Transaction fee for our investors.
(3) Ability for corporations and government organizations to influence on direction and scope of education.

Competitors

Tutellus, BitDegree, ExtraCredit, Edgecoin and ODEM are our competitors.
Their strength: Some of them already have a product. So, they are some steps ahead.
Weaknesses: Use blockchain, smartcontracts and cryptocurrensies only for transactions between teachers, knowledge centers and students. Some of them are closed platforms that allow only their own training.

Advantages or differentiators

We are only among the educational cryptocurrencies who are developing Proof-of-Learning protocol to issue money by learning process.

Finance

We need USD400'000 and 6 months to develop stable, secure platform; connect about 100 knowledge centers to the eDucat system; and conduct an ICO.
In addition we need USD4'000'000 to develop and implement all ideas of eDucat architecture and connect about 1000 knowledge centers to the eDucat system.
As we plan to have an income from the transaction fee, we need about 1'000'000 wallets to stabilize an organization cash flow and return the investments.
So, the 1 million live wallets is our goal for the next 5 years.

Business model

We are going to build a Multi-Sided Platform and bring together four distinct but interdependent groups of customers:
(1) Learners who generate the eDucat coins by learning process and spend them.
(2) Fee Investors who buy our tokens in order to take fee from transaction.
(3) Knowledge Investors and Employers who buy special knowledge tokens to create incentives for Learners to take knowledge in special areas. After the Learners will took this knowledge, the Knowledge Investors could sold the tokens with connected information about knowledge holders; and the Employers could ask the Learners for a job.
(4) Education Boosters who will buy the eDucat Coins on market and burn them in order to make the education in certain region or knowledge area more profitable in eDucats.
The first group of customer will grow fast because of 'the free money'. Our Multi-Sided Platform will create value by facilitating interactions between the different groups. More Learners involved in the eDucat mining -> the more value for other groups take -> the more income we have.

Money will be spent on

(1) Platform development (team, dev environment, instruments, office, communication).
(2) Marketing (designers, partners, PR, logistics, conferences).
(3) Security (system security, complience with legislation).
(4) Organisation of ICO for 4 million USD.

Offer for investor

(1) Equity in the organization shares.
or
(2) Discount or cashback on ICO.
or
(3) Fee tokens to receive the transaction fee.

Risks

The biggest risk is uncontrolled growth of the eDucat money supply.
Other risk is hacker attacks.

Incubation/Acceleration programs accomplishment

Nope

Won the competition and other awards

Nope

Photos

Photo 1 - eDucat

Website address

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