Addition of User Story 4.4 #11
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First draft of User Story 4.4 Primary Education Impact Bond
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General comment - it is probably more correct to define this as a Secondary School Education intervention (primary school education is typically early grades).
We want to capture the concept of (Impact Token) NFTs capturing discretely measured outcome states, which have analogue equivalents such as Academic Certificates which can be digitally represented as Verifiable Credentials.
Unique requirements to emphasis here are the need to assure privacy and the need to have a validity period for certain specified types of transactions which can be performed with this tokens.
NFT-RFC-002-use-cases.md
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| @@ -411,12 +411,52 @@ Uncertainty: “How sure are we about the monitoring and quantification methodol | |||
| ### 4.4 Primary Education Impact Bond | |||
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| #### Context | |||
| Ruari is the director of a large education charity which focuses on building and updating infrastructure in low income schools in California. Recently his organization has been investigating a problem they have noticed where a large percentage of schools in the lower income counties have not had their lab equipment updated in close to 30 years, which has lead to, according to a set of studies, an increased disparity in performance and engagement in students in these areas compared to counties which have funded these renovations in the past decade. | |||
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| In an attempt to solve this issue, Ruari’s organization setups what they are calling the New Labs Initiative Impact Bond, and have been able to get the promises of two other local charity groups in Los Angeles, where they will be piloting the program, which collectively have pledged a total of $10 million to the outcome fund. The three charities have collectively set outcome criteria as a function of both number of students serviced by the newly upgraded labs and the location of the school services so that higher rates of returns will be paid if the schools serviced are in what the outcome funding group has defined as schools in areas of “highest need.” In addition to these specific outcome criteria, the outcome funding group has also set a series of meta goals for the project as a whole where additional funding will be released once various percentages of schools have been serviced in the area with a target of reaching 75% of the identified “highest need” schools in five years. | |||
NFT-RFC-002-use-cases.md
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| @@ -411,12 +411,52 @@ Uncertainty: “How sure are we about the monitoring and quantification methodol | |||
| ### 4.4 Primary Education Impact Bond | |||
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| #### Context | |||
| Ruari is the director of a large education charity which focuses on building and updating infrastructure in low income schools in California. Recently his organization has been investigating a problem they have noticed where a large percentage of schools in the lower income counties have not had their lab equipment updated in close to 30 years, which has lead to, according to a set of studies, an increased disparity in performance and engagement in students in these areas compared to counties which have funded these renovations in the past decade. | |||
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| In an attempt to solve this issue, Ruari’s organization setups what they are calling the New Labs Initiative Impact Bond, and have been able to get the promises of two other local charity groups in Los Angeles, where they will be piloting the program, which collectively have pledged a total of $10 million to the outcome fund. The three charities have collectively set outcome criteria as a function of both number of students serviced by the newly upgraded labs and the location of the school services so that higher rates of returns will be paid if the schools serviced are in what the outcome funding group has defined as schools in areas of “highest need.” In addition to these specific outcome criteria, the outcome funding group has also set a series of meta goals for the project as a whole where additional funding will be released once various percentages of schools have been serviced in the area with a target of reaching 75% of the identified “highest need” schools in five years. | |||
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In defining outcome states to be achieved, it would be preferable to measure the academic results of students. This allows for a claim to be made that x number of students achieve y academic performance (e.g. a threshold score on independent testing - like SAT, but specifically for science). If there is a known baseline for the number (or percentage) of students who would likely pass, this allows for targets to be set for expected future state of pass numbers or rate, with investment into the intervention.
We want to be able to tokenise these academic outcomes which would conventionally have an analogue representation, such as an academic certificate of achievement, based on verified claims.
Ideally one token represents a verifiable credential for one student who has achieved the required threshold score for a certificate of a certain grade to have been issued. The token is issued by a trusted issuer (such as the examination authority, or an issuer authorised to act on behalf of the authority).
The outcome payers are then effectively buying these outcomes, conditional to a sufficient absolute number, or percentage relative to the denominator number of students, having been issued.
These NFTs have the requirement that they are linked to independently evaluated and verified claims, with supporting evidence. The tokens must not compromise the privacy of the students (or other private agents and agencies).
NFT-RFC-002-use-cases.md
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| @@ -411,12 +411,52 @@ Uncertainty: “How sure are we about the monitoring and quantification methodol | |||
| ### 4.4 Primary Education Impact Bond | |||
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| #### Context | |||
| Ruari is the director of a large education charity which focuses on building and updating infrastructure in low income schools in California. Recently his organization has been investigating a problem they have noticed where a large percentage of schools in the lower income counties have not had their lab equipment updated in close to 30 years, which has lead to, according to a set of studies, an increased disparity in performance and engagement in students in these areas compared to counties which have funded these renovations in the past decade. | |||
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| In an attempt to solve this issue, Ruari’s organization setups what they are calling the New Labs Initiative Impact Bond, and have been able to get the promises of two other local charity groups in Los Angeles, where they will be piloting the program, which collectively have pledged a total of $10 million to the outcome fund. The three charities have collectively set outcome criteria as a function of both number of students serviced by the newly upgraded labs and the location of the school services so that higher rates of returns will be paid if the schools serviced are in what the outcome funding group has defined as schools in areas of “highest need.” In addition to these specific outcome criteria, the outcome funding group has also set a series of meta goals for the project as a whole where additional funding will be released once various percentages of schools have been serviced in the area with a target of reaching 75% of the identified “highest need” schools in five years. | |||
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'commitment' rather than promises - generally these arrangements need to resolve to contractual obligations
NFT-RFC-002-use-cases.md
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| @@ -411,12 +411,52 @@ Uncertainty: “How sure are we about the monitoring and quantification methodol | |||
| ### 4.4 Primary Education Impact Bond | |||
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| #### Context | |||
| Ruari is the director of a large education charity which focuses on building and updating infrastructure in low income schools in California. Recently his organization has been investigating a problem they have noticed where a large percentage of schools in the lower income counties have not had their lab equipment updated in close to 30 years, which has lead to, according to a set of studies, an increased disparity in performance and engagement in students in these areas compared to counties which have funded these renovations in the past decade. | |||
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| In an attempt to solve this issue, Ruari’s organization setups what they are calling the New Labs Initiative Impact Bond, and have been able to get the promises of two other local charity groups in Los Angeles, where they will be piloting the program, which collectively have pledged a total of $10 million to the outcome fund. The three charities have collectively set outcome criteria as a function of both number of students serviced by the newly upgraded labs and the location of the school services so that higher rates of returns will be paid if the schools serviced are in what the outcome funding group has defined as schools in areas of “highest need.” In addition to these specific outcome criteria, the outcome funding group has also set a series of meta goals for the project as a whole where additional funding will be released once various percentages of schools have been serviced in the area with a target of reaching 75% of the identified “highest need” schools in five years. | |||
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It should be made explicit that the outcome funders are prepared to purchase outcomes. These outcomes are economically valuable and have willing 'buyers'.
As an aside, the outcomes could also be associated with rights - such as admission rights, or scholarships.
| User needs here are broken down for each of the three users presented in the above story: Ellenor, Vicki and Stephen. | ||
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| __Outcome Funder__ | ||
| * Configuration of a clear set of criteria on which to base the outcome payments |
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Define measurable outcome states which can be independently verified
| | Layer | | | ||
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| | **8. Operationalization** | Holder of the verified claim NFT submits a transaction to the bond chain and receive the associated payment | | ||
| | **7. Assertions** | Verifiable claims are assertions by witnesses about the underlying impact claim, which constitute evidence for oracles. | |
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Assertions are not necessarily made by 'witnesses'. For instance, a beneficiary may make their own assertion that they are 'ready to pass the grade'. Independent academic assessment tests this assertion and a qualified authority (the examination body) makes an assertion of the academic performance grade which has been achieved, based on test results
| | **7. Assertions** | Verifiable claims are assertions by witnesses about the underlying impact claim, which constitute evidence for oracles. | | ||
| | **6. Extensions & Restrictions to Rights** | N/A | | ||
| | **5. Instantiation** | A particular token for a particular set of claims asserting the creation of a particular outcome. | | ||
| | **4. Embodied Rights** | Redeemable for a particular outcome payment. | |
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Or transferrable.
Another unique requirement is that it must be possible to 'retire' or deactivate these tokens after a certain period, as they are only valid for trade and payment within the timeframe of the student's academic period
| | **6. Extensions & Restrictions to Rights** | N/A | | ||
| | **5. Instantiation** | A particular token for a particular set of claims asserting the creation of a particular outcome. | | ||
| | **4. Embodied Rights** | Redeemable for a particular outcome payment. | | ||
| | **3. Token Logic** | The NFT created by the verification chain oracle is a cryptographically transferable resource. | |
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Needs modification according to the changes in what is being measured, valued and traded. With validity periods, etc.
| | **5. Instantiation** | A particular token for a particular set of claims asserting the creation of a particular outcome. | | ||
| | **4. Embodied Rights** | Redeemable for a particular outcome payment. | | ||
| | **3. Token Logic** | The NFT created by the verification chain oracle is a cryptographically transferable resource. | | ||
| | **2. Interchain** | The verification chain supports oracles who can produce NFTs which, themselves, can trigger payment transfers on the cryptocurrency chain. | |
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Impact Tokens are transferrable across chains and metadata can be accessed across chains. For instance, the metadata may be written to a confidential storage chain, whereas the NFT is minted on another chain
| | **4. Embodied Rights** | Redeemable for a particular outcome payment. | | ||
| | **3. Token Logic** | The NFT created by the verification chain oracle is a cryptographically transferable resource. | | ||
| | **2. Interchain** | The verification chain supports oracles who can produce NFTs which, themselves, can trigger payment transfers on the cryptocurrency chain. | | ||
| | **1. State Machine** | Cryptocurrency chain for Outcome Funders, Verification Chain for collecting and verifying original assertions of root outcomes. | |
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Ledger records token identifiers, balances and transaction history.
Stateful database stores metadata about claims, credentials and their state.
updates to user story 4.4, rewrite of the context and unique challenges sections. Updates to Distinctive Requirements and the Architecture Model to come
First draft of User Story 4.4 Primary Education Impact Bond