The currency of international collaboration.
Crizac does not run rooms. Crizac issues the credential that rooms compete to earn — and controls what it buys. Thirty IEC centres. Three source markets. One ledger.
Three rooms. One failure. No owner.
Internationalisation is an isolated effort. A single institution cannot negotiate, cannot find reliable partners, cannot demonstrate outcomes. No one owns it as a job.
Most students in the room will never study abroad. Any model that rewards only the applicants is worthless to ninety percent of the room.
Study abroad delivery is contested by MSM and others. Parity is not a position.
The room ships. The currency is minted only across borders.
Three moves the model refuses to compromise on.
- I
The room ships.
Every six-week cycle produces an artefact of value to a commissioner who is not in the room and not in education. A delivery date with an external name survives week four. Conversation does not.
- II
The currency crosses borders.
Credits are minted only by attested contribution to shipped work — and only a participant in a different country may attest. Your own countrymen cannot vouch for you.
- III
Crizac sets the terms.
Credits redeem against Crizac's paid inventory — fellowships, summer schools, internships. Not commission margin surrendered. A seat sold to someone who was going to buy nothing.
A six-week cycle. A named commissioner. A delivery date.
Paired IEC centres in two countries deliver a defined artefact to an outside commissioner. Students interact with students — no lectures. One salaried coordinator per centre. Shipped cycles is the KPI.
The Exchange Credit. Symbol XC.
Minted only by attested contribution to shipped work. Attendance mints nothing. Domestic attestation is void.
| Event | XC issued |
|---|---|
| Attested contribution to a shipped cycle | 100 |
| Cycle not shipped | 0 |
| Facilitation, coordination, commissioner handover | paid in cash |
Labour is labour. Credits are for creation, not attendance.
- Attestations are weighted by the standing of the attester — reciprocal rings collapse to near zero value.
- Nothing mints unless the cycle ships and the commissioner accepts handover.
- Per-student issuance ceiling per cycle.
- Issued and verified through Credily — independently checkable by an admissions officer or an employer with no relationship to Crizac.
Paying for time pays for attendance. The student who logs the most hours becomes the one who needs money most — not the one with something to say. The room fills with seat warmers and stops being worth joining.
Points buy tickets. Credits buy seats.
A student who never intends to apply abroad still holds something they want. This is the difference between a currency and a coupon.
- Every credit issued is a liability against a future seat. Issuance is capped per cycle and per centre.
- Credits expire — suggested 24 months — producing predictable breakage.
- Managed seat release. A published number of seats per programme is redeemable per intake.
- Redemption value is set by Crizac and reviewable annually. Crizac controls both sides of the ledger.
Regulatory note · Credits are never convertible to cash. Payable to students who never apply, they are structurally the opposite of inducement.
500+ centres become a league table, not a mailing list.
If only students accumulate, the host institution has no stake and the coordinator is begging for room bookings forever. So the centre accumulates too.
First pick of commissions
Higher-standing centres see the commissioner pipeline before their peers.
First pick of partner centres
The best pairings are earned by shipped cycles, not by proximity or history.
First look at cohorts
Fellowship nominations and cohort placements route to standing.
Every known failure mode has a named control.
Approve the currency and the inventory that backs it.
Everything else follows.
- 01Approval to sign the demand side before any issuance.
- 02Ring-fenced seat allocation from the Socratic Fellowship, summer schools and internships as backing inventory.
- 03Coordinator headcount for Phase 1, with shipped cycles as the sole KPI.
- 04Credily build allocation for issuance, attestation weighting and public verification.