Please describe your proposed solution.
In a very straightforward explanation, what we want to do is:
- Betting on quizzes
- Build a pretty & easy tool for massive adoption of non-crypto users
- Paying content creators for their work
However, the most relevant goal we can achieve is from the perspective of e-learning. Currently, there is no method for detecting accurately the user knowledge using multiple choices.
MCQ (multiple choices question) is a powerful tool when you want to automatically "filter" for a certain degree of student knowledge (in order to be focused only on who passed a certain threshold). However, for a proper evaluation, an "essay question" is still needed, which is impossible to automate (yes, AI is not yet that powerful).
So, how can we more accurately evaluate still using an MCQ approach?
The solution comes from this white paper https://www.researchgate.net/publication/242679731_Evidential_Multiple_Choice_Questions (and related great researchers Javier Diaz, Maria Rifqi, Bernadette Bouchon-Meunier) that describes Evidential Multiple Choice Question (Ev-MCQ).
Yes, the Cardano community is used to develop products based on research and white paper!
With Ev-MCQ the student answer in an imprecise way, setting the confidence of the correctness for each answer, providing extra valuable information for its evaluation (to process automatically by an AI, yes in this case it can).
Here, the confidence of the user is challenged by the betting process for each answer (if students really don't want to lose money they have to seriously study).
This proposal is looking for support to build BOUNDER, Bet On UNDERstanding, and it will be open source.
BOUNDER is not only fun and economically sustainable for stakeholders involved, but it is also extremely relevant for teaching purposes.
BOUNDER is a fundamental module of a bigger decentralised e-Learning platform we are building through our dedicated e-Learning DAO.
To have a more visual understanding of how it works, look at this wireframe.
A student is asked to bet a certain amount of ADA from a budget received at the start of the assessment. Note that this budget is not paid by this user, it is the potential winning to be received at the end of the assessment phase. This is a "earn to learn" technique, able to promote learning and receiving payment for deserving students. Earn to learn, is extremely valuable in developing countries, where salaries are low and students need support.
However, the evaluated student can ends up consuming all the available budget with bad answers.
If the student does not know the answer, he/she may skip the assessment going to the next Ev-MCQ, paying an ADA little fee as a penalty.
The student can ask for hints for a correct answer in exchange for payment of extra ADA.
All of these ADA are deduced from the available budget, but when it is consumed the student may top-up ADA to continue with the examination. This is how BOUNDER may become lucrative and sustainable.
So, BOUNDER allows the student to save the budget from wrong bets and cashout at the end of the evaluation.
The lost ADAs due to wrong answers will be sent to the evaluators that created the Ev-MCQ. The goal of the evaluator is to provide non-trivial Ev-MCQ, in order to cash out at the end of every examination process, but also not even create impossible questions, otherwise, the student will always skip the assessment, not betting.
The initial budget can come from different sources: patrons, sponsors, employers, parents, and students financially independent.
BOUNDER will improve the quality of knowledge verification, and it will be also fun for many, whereas for someone will be an opportunity.
BOUNDER is an autonomous component that can be implemented and published by itself, however, it is also designed to be one of the main components of a decentralised e-Learning we are building.
Both are under the management and control of the e-Learning DAO
Please describe how your proposed solution will address the Challenge that you have submitted it in.
Today centralised e-Learning platforms monopoly the market, but this proposal has a monetizing impact on an entirely new ecosystem.
BOUNDER will be built through e-Learning DAO, an up-and-running Cardano DAO, that is engaged in managing the development of the decentralised e-Learning platform, distributing ADA to contributors from its growing treasury.
The integration with other LMS (Learning Management Systems) is mandatory in the e-Learning platform field and it is guaranteed by the component PoLiL (in the development stage).
Exposing APIs will allow LMS to interact with BOUNDER, providing further integration.
3rd generation blockchain is not designed only for storing value, Defi and NFT but it is for real-life things and for public good like e-Learning. This is an extremely strategic use case for the Cardano community and the entire ecosystem.
In this case, the market opportunities are enormous. The EdTech projected global market size is $181.3B by 2025
<https://www.marketsandmarkets.com/Market-Reports/educational-technology-ed-tech-market-1066.html>
and $377.85 B by 2028
<https://www.grandviewresearch.com/press-release/global-education-technology-market>
The 1st of the Top 15 Largest EdTech Companies in the World is Kahoot:
15. Boxlight Corporation (NASDAQ: BOXL)
14. Course Hero
13. ApplyBoard
12. Stride, Inc. (NYSE: LRN)
11. Unacademy
10. Duolingo
9. Coursera, Inc. (NYSE: COUR)
8. 2U, Inc. (NASDAQ: TWOU)
7. Udemy
6. VIPKID
5. Zuoyebang
4. BYJU'S
3. Chegg, Inc. (NYSE: CHGG)
2. Yuanfudao
1. Kahoot! AS (Oslo: KAHOT.OL)
<https://finance.yahoo.com/news/15-largest-edtech-companies-world-155126885.html>
<https://www.insidermonkey.com/blog/5-largest-edtech-companies-in-the-world-930988>
BOUNDER is designed to distribute ADA across all the contributors as revenue streams.
A web3 competitor of Kahoot doesn't exist yet. Let's make it on Cardano.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Like every project in the Cardano ecosystem, the risk is always in finding the human resources who write the code. Haskell/Plutus is not common knowledge and because of that, the few developers available are extremely expensive.
This is one of the reasons why we created "e-Learning DAO", to offer not only remuneration for the developers but also ownership of what is built. It should make the scenario more attractive to them.
In the future, less and less developers will work for the "boss" (unless super paid). Many others will receive income from shared ownership of the platforms. WEB 3 is also this.
HOW DO GET PEOPLE TO ADOPT THE SOLUTION
We will build a website (useful also for tracking the progress of the development) where users can play with a demo account.
When the solution is stable and solid, we can start to do marketing campaigns.