Ravencoin Crypto College Funds (Restricting/Locking Wallets Until Graduation)
I had an idea that I think would really increase Ravencoin adoption and hodling. Ravencoin has been working to set tags on wallets to specify if certain wallets are restricted for security tokenization. What if when setting up a wallet, a parent could set a limiter or lock that prevented the withdrawing or transferring out of Ravencoin before a certain date or time.
I think this would be critical when you get into securities tokenization because with restricted stock you usually have a window you are allowed to buy and sell in so it's essentially locked until that window is opened. So this feature could be used in other ways.
The idea is a parent sets up the wallet, sets the lock for when their child is set to graduate, this might be 10 years from now for example, and stores away the key. In the meantime, RVN will go through multiple halvings and grow in adoption. They could then give out the wallet address to family to donate RVN to their college fund if they want. They could use the explorer to confirm it is locked by a set date and cannot be just withdrawn immediately for spending or selling. Some would argue it could be a scam and the parent would still later spend it, but if you gave $100 USD to a family members college fund you wouldn't know if the parent would do the same with that either way, so it requires trust. The benefit with this is you can see it locked. This encourages the parent to hodl it and not spend it. So you can transfer in, but cannot transfer out until the lock date that is hard coded on the wallet.
Once this is established, it could be marketed at schools and some could be donated to schools and promoted that it has been established. Parents could be given instructions by the school to setup their wallet and provide the wallet address, one per child, and those addresses could then be funded after confirmed they are locked.
These could then be tracked almost like a time capsule in 10 years from now to see how much they all have for college. I think it would get a lot of good press. When they all grow up, it could be worth so much that it might even do more for them than college. They might start a business with it or use it for a down payment on a house, who knows. But it's at least a start that many people don't get in life.
When the project is rolled out, top Ravencoin whales could donate to their schools of choice if they like and send someone there to get media coverage on it and issue press releases.
Thoughts on this?
submitted by /u/ChiefofStonks
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