The Swiss Shakti Foundation: A New – and Better – Crypto Mining Protocol

The Swiss Shakti Foundation has developed a new – and better – crypto mining protocol. In the past, crypto mining was based on a Proof-of-Work (PoW) protocol that measured the computational work

The Swiss Shakti Foundation has announced the creation of a new crypto mining protocol, designed to replace the traditional Proof-of-Work (PoW) model. This new protocol, known as Proof-of-Effort (PoE), will measure the efforts made by families in getting their children to attend school.

Under the PoE model, each day that a child of a participating family attends school, one Shakti Coin will be mined and rewarded to the child’s parents. This will be done through a decentralized blockchain network, ensuring transparency and immutability in the process.

The value of the Shakti Coin will be pegged to the effort put in by children and families, rather than the computational achievement of computers, as is the case with other cryptocurrencies. This is intended to create a direct link between education and economic empowerment.

The PoE protocol is designed to complement the Sustainable Development Goals (SDGs) set by the United Nations, particularly Goal 4 on quality education. By incentivizing school attendance, the Shakti Coin aims to contribute to the reduction of illiteracy, poverty, and inequality around the world.

According to the foundation, the PoE model is the culmination of what Satoshi Nakamoto, the pseudonymous creator of Bitcoin, always envisioned his innovation to become: a driving force for good in the world.

The Swiss Shakti Foundation, a global NGO, is inviting participation from diverse stakeholders, including governments, educational institutions, NGOs, and cryptocurrency exchanges, to join this initiative and amplify its impact.

For more information on the Shakti Coin and the Swiss Shakti Foundation, please visit www.shakticoin.com or email secretariat@shakticoin.com