A hackathon was conducted by TH.0, an Innovator's Community, to bring forth ideas on how members who have been integrated into their community can be retained and engaged. This project develops a token reward system to grow the TH.0 community for global innovation by providing a viable and scalable ICO by 2025.
What is TH.0? Or Who is TH.0?
TH.0 is an Innovator's community that aims to create a platform where business entrepreneurs, aspiring professionals, industry experts can come together and connect in a dynamic environment to share knowledge and potential opportunities of mutual benefit, resulting in tandem growth of all parties.
Aim
The outcome of this challenge is to increase the TH.0 community visibility on a global scale. This can be done by providing benefits to community members by achieving a viable ICO.
Research Question
How can the next generation of innovators be integrated and retained in the TH.0 community?
How can the next generation of innovators be integrated and retained in the TH.0 community?
Research
What is ICO?
A company looking to raise money to create a new coin, app, or service launches ICO as a way to raise funds.
A company looking to raise money to create a new coin, app, or service launches ICO as a way to raise funds.
Blockchain is the technology that enables the existence of this cryptocurrency. Using this technology, participants can confirm digital transactions without a need for a central clearing authority.
Problem Statement
Considering both the blockchain technology and the aim of making the TH.0 community gain global visibility, the problem statement can be framed to ask:
Research Question:
How can a token reward system be developed to benefit members of TH.0 community such that they can be retained as long-lasting, engaged members?
How can a token reward system be developed to benefit members of TH.0 community such that they can be retained as long-lasting, engaged members?
Idea
To develop a token reward system that utilizes the blockchain technology to convert the TH.0 assets to tokens. It would promote TH.0 global innovation by rewarding contributors of TH.0 communities via valuable tokens that are earned based on their contribution to global innovation within the TH.0.
This currency is called the TokeTh0n.
The Pitch
TokeThon is a system of converting TH.0 assets utilizing blockchain and assigning these asset tokens to active participants within the TH.0 community. Each and every member of the community has the ability to earn based on their contribution to global innovation within the TH.0. The blockchain is limited with an initial supply of 100,000 TokeTH0ns.
Changing the Hackathon game
- TokeTh0ns cannot be bought.
- Team winners of a hackathon are awarded TokeTH0ns appropriate to their position.
- Participants also receive a minimal token appreciation reward.
- Team winners of a hackathon are awarded TokeTH0ns appropriate to their position.
- Participants also receive a minimal token appreciation reward.
Volunteering to earn TokeTH0ns
Community members can win rewards by volunteering to do some tasks. This can include conducting workshops, participating in panel discussions, mentoring new professionals etc.
Purchasing TokeTH0ns
Community members can purchase tokens. However, these purchased tokens can only be used for certain features. This is to bring members to actively participate within the community. For example, to attend an exclusive corporate webinar.
Investing TokeTH0ns - TokeTH0ns can be used to buy and invest back into the TH.0 community and avail the business services with a network of over 15,000 active registrations within its community.
The Business Aspect
When people within the community start using TokeTHOns in exchange for services at TH.0, the value of the token will rise in due time and will pave way to start the ICO. The ICO involves investment as seen in the pie chart, the distribution of the token bearing in mind that a huge majority of it is reserved for rewards. 10% of it is kept for the founders. Another 10% is for contingency and the 30% of the total tokens will be set aside for token sales.
Prototype Building
For prototype, a visual model of the system architecture as well as the user interface has been created.
The UI design can be accessed through the link provided.
https://xd.adobe.com/view/1f2660c5-77d6-43d3-b0ac-5edcab7a19b9-4a75/
The UI design can be accessed through the link provided.
https://xd.adobe.com/view/1f2660c5-77d6-43d3-b0ac-5edcab7a19b9-4a75/
Learning
The Hackathon highlighted my strengths and areas for improvement. In collaboration with a strong team, I learnt new and user friendly softwares that help achieve the desired result. Working with developers and product owners introduced me to agile thinking and a way to quickly resolve and take decisions on product through fast prototyping. The final result was well received and secured us the 2nd place in the hackathon.
