Tokenization: Creator Economy

[GENERAL] Summarize your solution to the problem.

Goodwall will develop a token-based in-app economy providing positive reinforcement whereby users are recognized and rewarded for their progress/work and have the possibility to exchange the tokens.

[GENERAL] Summarize your relevant experience.

Goodwall’s mobile-first platform guides over 2 million youth aged 16 to 24 from over 150 countries on their educational and career journeys. Its mission is to leverage its community and an ecosystem of partners to help youth maximize their potential and impact society positively.

[IMPACT] Please describe your proposed solution.

In order for the token system to work, users need to have an account, that account then becomes the wallet, that wallet could be a custodial wallet created by the platform. Wallets would need to be compatible with blockchain use.

How it works.

1. User performs an action that may be eligible for reward (based on the predefined rules of the system).
2. The reward module manages the associated rules and incentives, confirms the rewardable action and at the end of the day applies the transfer of the corresponding tokens to the users wallet.
3. On a daily basis, we have a predetermined number of tokens generated, based on the total daily activity of all network users.
4. The tokens to be distributed to a user is determined based on how much they contribute to the network vs rest.
5. Users can spend the tokens earned to access opportunities. 

Tokens are earned in exchange for engagement with content.

• Reward users for authentic creativity for users who curate engaging content, using transparency and accessibility of blockchain technology so users get paid for creating new and authentic videos to remove the fake news aspect.
• Removing fake news issues - incentivizing users to rank or verify the content correctly. 

[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.

Goodwalls mission is to level the playing field for Gen Z, to help them maximize their potential and have a positive impact on society. With Cardano´s blockchain technology we are able to support youth through their education and career journeys providing a platform where it is possible to certify contributions, create a reward economy and a sense of collective ownership by providing implicit or explicit benefits contributing to its construction. Ultimately it means leveraging the power of people, working together to produce benefits that they can draw from as needed. Empowering the community, where we all in one way or another have benefited from but the benefits users receive have never entirely been equal, in this way we provide a level playing field for youth to have their chance to fast-track their future.

[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?

Budgeting issues - It is necessary to use our project scheduling tool, following the budgeting procedure, and make realistic assumptions to avoid cost overruns.

Limited engagement of stakeholders - Goodwall will collaborate closely with Cardano and other partners to develop this, so their engagement is key.

Lack of Information or resistance by users - users might not understand the purpose of this Tokenization, but we will create informative content (videos and posts) so our community is more aware of what they are earning.

Technical Problems - a lot of time will be dedicated to the development of our project and we will keep a close eye on any potential technical problem in order to find a quick way to solve it as fast as possible

[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.

Program Preparation:

• Definition of requirements
• Create user stories
• Define proposed architecture
• Design front end interface
• Create marketing plan

Total time: 4 weeks

Program Execution:

• Build out smart contracts
• Build front end connections
• Build backend 
• Create algorithm 

E2E testing 

Total time: 12 weeks

Program Results:

Measure user engagement with new token system is increasing

Track usage of tokens

Execute marketing plan

Total time: 12 weeks

[FEASIBILITY] Please provide a detailed budget breakdown.

80 design hours @ $70/hr = $5,600

• Design front end interface and UI

960 development hours @ $100/hr (2 devs for 12 weeks) = $96,000

• Build out smart contracts
• Build front end connections
• Build backend

80 QA hours @ 50/hr = $4000

• E2E testing

GA, PM, marketing 270 hours @ $70/hr = $18,900

• Definition of requirements
• Create user stories
• Create marketing plan
• Execute marketing plan

[FEASIBILITY] Please provide details of the people who will work on the project.

A list of Goodwal’s management team members and their CV’s can be found here, but below are highlighted the colleagues on the tech team who will be taking the Atala Prism pioneer course and leading this project:

Michaela Usakova - Chief Product Manager // https://www.linkedin.com/in/miusakov/

Brian Nelson - Head of Technology // https://www.linkedin.com/in/bnelson365/

Zachary Taylor - Product Manager // https://www.linkedin.com/in/zak-taylor-menendez/

[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.

Goodwall has already submitted proposals on Fund8, two of which are being funded. We aim to continue applying in the next funds with new ideas or with projects that are continuations of funded proposals.

[FEASIBILITY] Are you or any member of your team working on any other proposals in this Fund9?

[FEASIBILITY] Are you or your team working on any other proposals from previous Funds?

[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?

We will implement live dashboards that will track whether user engagement is increasing with the new token reward system. We will also track the usage of the tokens to see what is the most desired use case for our users.

Deliverables :

• Several tests of use-case
• More users aware of this ecosystem and that have access to core information
• We will make a presentation that will summarize all the results that we got during the project

[AUDITABILITY] What does success for this project look like?

Goodwall focuses on providing youth all the possible opportunities to develop in their journey and to become a point of support and guide for its users as they embark on the next chapter of their life. Leveling the playing field and making youth voices matter are fundamental pillars to our work by empowering young people to contribute and work towards the same goal to develop one another. Developing a token based economy whereby users' contributions can be recognised and rewarded, is an effective method of positive reinforcement and motivation for them and can have fundamental implications in the development of our users. 

1. Responsibility - establishing a token economy teaches users the importance of responsibility and taking ownership of their actions which provides a sense of mutual trust and confidence in the platform. Goodwall becomes a safe environment where users can trust the content and maximize their potential with the tranquility that no one is trying to take advantage of them.
2. Flexibility - Having the ability to choose different behaviors/actions to focus on every day allows us to reach all youth around the world by giving them an equal opportunity to level up in their journey and have a chance to fast track their future.
3. Recognition - users are rewarded for engaging in those behaviors and have the possibility to exchange those tokens for a choice of reinforcing rewards. We are able to give youth the choice to level the playing field and develop their careers to maximize their opportunities.

In summary, Goodwall will consider this project successful if:

• It brings an impactful use case for Cardano
• Sees increased quality of existing products & integrations through suggested improvements that is supported by customer feedback or increased usage by the community.

[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

New proposal.

Sustainable Development Goals (SDG) Rating

SDG 1 - No Poverty

SDG 4 - Quality Education

SDG 5 - Gender Equality

SDG 10- Reduced Inequalities

SDG 17 - Partnerships for the Goals