There is a vibrant need for scholars and newspapers to be paid directly and decently for their labour. The News industry is dying around us, and I've paid $75 for an online research article for the last time in my life. It's time to address the ability to share information and generate interest in Cryptocurrency at the same time! It's time for Scholar Coin.
Essentially, every Newspaper article is linked to a webpage, and every article is linked to the DOI. My goal is to make it so that Journalists and Scholars alike can Mint NFTs on the same Blockchain to share with every other human being on Earth for a reasonable fee. In order for Capitalism to have any faint hope of functioning, authors need to get paid for their work. As a Freelancer, I've often wished there was somewhere I could hock my wares directly on the open market. Let's just make one.
This idea uses a large liquidity pool, so upfront investors can prepare themselves to mint existing articles and backlogged articles from the academia. The rest will be kept as a liquidity pool to ensure the market remains solvent. It will be a proof-of-stake system, so Scholars can generate coins by acting as Validator nodes. The coins themselves will be used as the fuel for the L2 system on top of either Ethereum or Solana. They will allow for the minting of the actual NFT Articles and accessing them via PDF download.
The Article itself is just a text document. These things can cost hundreds of dollars for institutions to access, and the original author never sees a dime. I aim to change that by allowing the Minter of the NFT gets paid Scholar Coin every time someone downloads the article. They can set their own download price, or even make it free. The important thing is that we allow our customers ease-of-access to their clients by undercutting the bureaucracy of the currency publishing behemoths.
Lastly, it should be possible for Scholars to sell their product on an open market to encourage competition. That's why the last thing Scholar Coin lets you do is transfer the NFT and its dividend payments to another owner for a fee determined by an NFT auction. This allows Scholars who don't want to mess around with collecting dividend payments for their work to sell them directly to institutions, publishing apparatuses or other scholars.
We are on the cusp of a new world of technological revolutions. Blockchain technology has the ability to free the information economy and commercial publishing from the systems we long thought nourished them. Don't forget that we have only begun to innovate the use-cases of the Blockchain. Our Crypto Revolution has only just begun.
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