The most ethical use of crypto and blockchain is to support freedom and intellectual achievement. This is a bold statement but it speaks to the ethos that spawned the space – an ethos evolved in response to the 2008 financial greed crisis. This ethos demands that we build a new world, and we at ZebPay are committed to doing so.
But world building requires super powers, so we are endowing the best and brightest with crypto super powers in the form of Ethereum validators.
Ethereum validators earn revenue by validating transactions on the Ethereum blockchain. By donating validators to universities, we will provide them with a new and independent source of revenue they can use to support intellectual achievement.
What are Ethereum validators?
For the crypto uninitiated, an Ethereum validator provides 5-10% in annual returns for the amount staked (deposited). It’s basically an interest-producing account programmed onto the Ethereum blockchain, without the overhead or corruptibility of old-fashioned banking.
Currently a validator costs around US$60,000, so universities can expect $3000 in annual returns per validator. This is a modest start, but enough to fund at least 1 student.
ZebPay’s commitment to universities
The ZebPay validator endowment will provide select universities with validators to support academic and research programs in the crypto space. We want to nurture young superheroes who will shape India and the world. You can think of these validators as that tiny radioactive spider that may not get noticed at the start, but could change the destiny of its beneficiary and the neighbourhood.
We will directly grant validators to the universities and use multisig infrastructure to ensure the universities cannot transfer or sell the validator. Revenues from the validators will flow directly to the universities’ crypto accounts to be used as they wish. If universities want to set up and run the validator on their own infrastructure, we will help them.
Prashanth Irudayaraj – ZebLabs
