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Education is the foundation of an evolved society, and it seems like governments and populations around the world have acknowledged that.
People have never been more educated than now. Literacy levels have been consistently increasing worldwide, and as basic education goes up, so does higher education. In the 1970s, 700 mln people with secondary or post-secondary education in the world. That number is estimated to rise tenfold by 2100.
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Yet, there are still worrying inequalities regarding both accessibility and the quality of higher education. Income levels mostly dictate this gap, but there are other factors to be considered, and the country where a student is born is one of them.
The existence of universities has led to the institutionalization of higher education. Sure, universities have been extremely important throughout history, but they are also failing a big part of the population. Be it by enforcing an admission system that often perpetuates inequality or by having outdated programs that don’t equip their students with the highly demanded skills of the ever-changing market, universities can be a very expensive and inadequate way of getting specialized education and training.
Online courses seemed like a promising solution but turned out to be quite limited, as they often require a very active role from students, since there is little guidance over the learning process, and it lacks social and geographical context.
On-Demand Education Marketplace is making education more accessible
The On-Demand Education Marketplace (ODEM) solution was created as an answer to these issues. ODEM provides a platform where educators can create content that suit the students’ needs, and where students can purchase them.
This is the first decentralized education marketplace that provides complete custom education programs and experiences.
The ODEM platform runs on the Blockchain and uses a smart contract-based payment platform to give all members of the education supply chain the opportunity to create a request, design or attend an educational event while having a payment system that offers real-time and transparent financial transactions. The ultimate goal is to make education more affordable for everyone.
To reach that objective, the company is partnering with Excelorators, which also provides education services. ODEM is bringing the Blockchain technology to optimise the services that the enterprise provides, benefiting from Excelorators’ over five years of experience.
By doing so, ODEM can offer a network of over 200 professors, providing a service that combines a real classroom learning experience and the flexibility and agility of online education. The aim is to provide an education service where the absence of middlemen leads to an experience that works best for all parties, as it can be customised to the students’ needs and professors can evolve based on the feedback that they get.
Cryptocurrency for the new era of education
To pay for its services, ODEM is launching the ODEM Token (ODEMT), which can be bought through an ICO that is going live on Feb. 17 and should continue until March 19 or until all tokens have been sold. About 180 million ODEMT will be available for purchase. During the first hour of the main token sale, each user will only be allowed to buy a maximum of 250,000 tokens.
The company is implementing a Know Your Customer (KYC) process to investors who pre-register, which will be used for identity verification of investors. This system, along with Anti-money Laundering measures is being implemented to make sure that contributors can participate in the crowdsale legally.
ODEM is acting on a growing market, since demand for providers of customized training and curriculum has grown among students from Asia (especially China), Africa, South Africa and the Middle East.