I am confused on how this method can help the student to ease their school financial expenditures..  Among these thousands of participants in that contest, only one will win, and therefore, only one among these students will be given reward and got the possible help needed assuming the amount of prize is huge enough to even accommodate a semestral fee.

I agree with one of the replies here that it was proposed just to amplify himself and impress his students.  Honestly I just can see the relation of his plan on the aspect of students school financial expenditures being eased out.

They have to make money from what they learn, if only remember the subject, then they will forget in what they learned. It's the same as Bitcoin for example us, who follows the signature campaign where get the bitcoin payment every week. If we only learn without receiving bitcoin payment, we're gonna be in trouble in crypto marketing products without anything practice like how to transfer bitcoin to another wallet or exchange. Because I know how quickly knowledge is forgotten if not direct practice.

The idea is good but it will surely need a proper framework before it can be implemented into reality. The issue would start when students will only go on treasure hunts rather than studying and end up with a money-making quest. Lolz I think various universities already have Blockchain-based programs in their modules that are making new-generation programmers for the future. What I mean is, if we just add it as a subject for our students then also the interested candidates would participate in it and study for a career in the blockchain field. Now consider the example of the Avalanche project developed by Math professor from the university itself. I think we will see such progresses all the time if this system is implemented. The only catch is, it has to be on point and not some unplanned treasure hunt.

I don't know it seems like a great idea but if you're having a prize by just hunting a bounty, then for sure students would cut classes just to focus for that bounty. I think it would be better to still connect the subjects to some bounty for them to still focus on studying and the class. There's already a lot of universities that teaches crypto industry and blockchain technology. There's no need for them to force or encourage them with a task just because there's a prize. If they want to learn something they would search for it. Just give them some enough money for a good start consider it as part of the scholarship for the courses under crypto subjects. It can already be consider as work when you're trying to understand and doing stuff just for money.