Perhaps another way to control fake accounts would be a sort of PoS+PoW (where the 'W' in PoW is Work performed completing exercises). It could be something like this:
-student logs in by demonstrating ownership of a particular SMLY coin address
-the reward they earn for completing a task is proportional to the amount of SMLY in the address
The problem with this is that it would also incentivize hoarding, meaning nobody would spend their SMLY at the University cafeteria - bad!
So, instead of basing the reward on the amount of SMLY in an address, the reward is based on the amount of SMLY the address has previously earned from Tutorweb irregardless of whether that amount is still in that address.
That's a new one: One could give minor rewards for the first few lectures and then increase them as students complete more material.
This is definitely food for thought!
The functionality of rewarding with progressively more SMLY as the student finishes more lectures can be done purely within the tutor-web system, i.e. without knowing the payment SMLY address. Until now we have just had the rewards inside the system until the students choose to redeem their SMLY.
But we've learned that most students just ignore the SMLY (which is why we've set a deadline, after which the SMLY just get donated).
Your idea to link the rewards/amounts explicitly to a registered SMLY address gives an added benefit: It would allow us to reward with some bonus those students who have downloaded a SMLY wallet. So we can direct increased SMLY rewards at those who have shown an interest in SMLY.
Cool, really cool.
Unless someone sees a problem, we should just implement this!