I. Problem Overview
Challenges stimulated by current and future developments in K-12 and higher education, have caused a need for visionary strategies to be developed by these institution leaders. Changes to the federal and state financial aid systems, declining financial support, rising cost of tuition will force these institutions to respond; to maintain their competitiveness in the landscape.
The scarcity of funding has become the most challenging for students wanting a better educational experience. Due to the disorderly and often perplexing way the scarce funds are distributed, has made the process of students accessing the funds too complicated, that millions of students per year who might qualify for aid fail to pursue it.
Kim Clark Staff Writer for US News makes a similar point:
1 “Meanwhile, a growing number of schools and states are choosing to divert scarce financial aid dollars to good but comparatively wealthy students. One researcher estimates that $2.3 billion in state, private, and school scholarships is awarded annually to students from the richest 10 percent of families.”
According to a report written January 25, 2017 the author states that most financial aid systems used by institutions today are outdated and need reform. Theses outdated methods fail in disbursement of funds to address the disparity of the learning body.
II. Project Core Objectives
Throughout the life of this platform the EDU FIN CHAIN Foundation will work to build on better autonomous algorithms and processes to achieve the following:
1. Explore new consensus methods for evaluating and comparing fair practice for education financial aid disbursements using Block chain.
2. Develop new tools on the Block chain to enable government, advocates and policymakers to address more effective and fair funding disbursement methods.
3. Create strategic partnerships to enhance user experience and adoptability
4. Continue to build, strengthen and secure our network with processes and transparent partnership alliances.
III. Tokenized licenses (SET)
The SET (Sustainable Education Token) a tokenized license; will be offered through our early adopters program and later thru other public strategic campaigns. These tokens are used by the EDU FIN Chain Platform to convert value into funding assets. These tokens provide computational ability to the network and identify the holders as authorized users of the platform; simultaneously allowing them to created assets on the platform.
IV. Digital Assets
Digital assets on the EDUFIN CHAIN are used to store related educational resources . These resources can include but not limited to the following:
V. Platform Overview
The EDU FIN CHAIN is a decentralized autonomous financial platform; designed to convert and distribute financial value more securely and effectively; all while making academia funding accessible; to a more diverse learning body.
EDU FIN CHAIN platform is built on top of a peer to peer ecosystem use to create and exchange funding assets freely; powered and denominated by pre-paid tokenized licenses.
The EDU FIN CHAIN platform is what enables the fungibility to happen between the native tokenized license (SET) and the newly created funding asset (SEA). This process happens while securely interacting with software and propagating back to the Block chain.
- Foundation Organization
- Selection of the Board Members and Foundation Officers
- Identify members of the platform core development team
- Commence proof of concept and establish test network
- Develop framework for launch pad workshops
- Identify Key Partners for launch pad workshops and strategic partner program
- Start development of the EDU Fin Chain platform
VII. Early Adopters Program (EAP)
Our Early Adopters Program will allow the purchase of the SET tokens introducing new adopters into the EDU FIN CHAIN community. The community will represent not only users of the EDU FIN Chain but community partners as well. Early adopters will be introduced to Block chain technology, Bitcoin and crypto currency; as well as how it relates to the purpose, benefit and goals for the EDU FIN CHAIN platform. Our education seminars, classes and workshops will be restricted to holders of SET tokens; with the exception of our Launch Pad Workshop, which sets the foundational purposes and goals for EDU Fin Chain.
VIII. EDU Foundation
The EDU Foundation represents the technology and community that drives usage, adoption and benefits of the EDU Fin Chain Project. The Foundation helps to facilitate the technology and integration into the platform. The Foundation coordinates efforts to introduce awareness, education, usage and benefits as it relates to the EDU FIN CHAIN Platform and its community.
Our Mission is to standardize access to educational funding to a broader and diverse learning body; using autonomous processes, algorithms and non bias practices.
Ahmed Abdullah – Founder/CTO
Steve Conley – Founder/CMO
Joyce Coleman – CEO
Abdul-Kaba Abdullah – COO