Questbook is building the world’s first University DAO – one where learning is always free. We’re building the infrastructure so that the teachers aren’t dependent on extracting a fees from the students to deliver quality education.
Early members will get huge bonuses in Questbook‘s native crypto-currency which will be an ERC-20 that can be exchanged for any other coin. I’ll be happy to answer any questions related to Questbook and the future laid out here. Feel free to AMA. If you want to be a part of this future, join in now.
Questbook is powered by a blockchain and a cryptocurrency called Learn Coin. Below we describe how this is going to play out in the next few months.
All the courses that run on Questbook end up with the students getting an NFT. This NFT stores the information about the teacher, the student and the course that led to this NFT.
These NFTs will
- Serve as a certification or a trusted update to a learner’s resume
- Will make the teacher eligible for economic rewards based on success of the students
Learn Coins will double as a Governance Token as well as an application specific Utility Token.
These Learn Coins will be airdropped into the wallets of the early learners, teachers and sponsors of courses, depending on the quality of value added.
Since these are the most important stake holders, they will also be entitled to the governance processes – by virtue of owning the Governance Token.
This dream, this promise will be rolled out in 3 phases to maintain efficiancy.
Phase 1: Centralized Learning App
We’re launching the App (Questbook.app) on the Appstore and the Playstore. This will be run by a centralized server, however the source code will be open.
The app will also have a custodian wallet that can be swapped out for a self-custodian wallet, should the user want to. All the NFTs will be issued on an L-2 chain that can be withdrawn into the Ethereum Mainchain whenever the user wants to. The NFT will still be minted by the central authority, but the NFT itself will be a standard ERC 721/1155 that can be used on all wallets.
In this phase the emphasis is going to be on
- Building great courses for crypto developers
- Polishing the product and getting to product market fit
- Getting a critical mass of users to confidently say the product is working
This Phase is likely to last till November 2021.
Phase 2: Airdrops
Phase 1 will not have any Learncoins. However, we will be collecting a lot of information that will help us determine the dynamics of the Learn Coins in phase 2.
Phase 2 will be determining the air drop rules and incentivizing all the users who added real value to the system in Phase 1.
The rules for airdrops will be objective, data driven and transparent.
This phase is likely to extend till February 2022.
Phase 3: Decentralization
The Learn Coins distributed in phase 2, will act as the governance tokens.
In this phase we will slowly give up control of the decision making. One decision making after another, we’ll delegate to the DAO for voting based decision making.
This is also the phase in which we will give up control of centralized servers. We will open up the apis and allow anybody to host a University DAO server. Questbook will be one of the many such servers. The open APIs will also allow a rich set of applications built on top of the data that gets accrued – i.e. the data about the NFTs.
The entire education stack is going to get disrupted and decentralized. We’ll only provide the infrastructure. Each of the usecases that get enabled will have their own incentive structure to reward the learners as well as the teachers. The following companies will get built on top of the decentralized data and infrastructure, but only 100x more valuable
- A decentralized LinkedIn to find and build a professional network.
- A decentralized AngelList for sourcing and hiring candidates.
- A decentralized Coursera for content distribution.
- A decentralized Quizziz for assessment and evaluation.
- A decentralized neo-bank or DeFi application for financing education
- … many more that we can’t even envision yet.
All the money collected by the DAO will be accrued in a treasury. This treasury will use the funds for improving the product and network even further.