It should come as no surprise that ODEM, creator of the world’s first On-Demand Education Marketplace, has filed for provisional U.S. patents on two critical elements of our blockchain-based education platform.
ODEM, which is headquartered in Switzerland, is using blockchain technology and associated digital tokens to automate the organization and delivery of in-person learning experiences. We’re proud to have developed proprietary solutions that will fundamentally change the way students access and manage their education.
Recently, our company and ODEM’s Chief Technology Officer, initiated the process of asserting ownership rights to the technological foundation of the ODEM Platform. We’re seeking patents on the platform’s system of staking, or registering for, academic programs as well as unique design aspects of the system’s digital-token model. The filings were made to the U.S. Patent and Trademark Office.
ODEM’s staking mechanism and digital token model are integral to the operation of the ODEM Platform. ODEM is leveraging artificial intelligence to directly connect educators and students for in-person educational courses.
Students and educators will use ODEM-T to stake, or lock-in, their commitment to particular academic programs. The staking model follows pre-defined conditions to reward platform participants for their course commitments. It also docks fees for backing out of academic offerings. When a program is scheduled and conditions have been confirmed by educators and students, the staked tokens will be unlocked.
The process of staking protects all parties in the ODEM ecosystem by requiring participants to maintain the orderly operation of the platform. Staking effectively discourages frivolous engagement with the platform that would potentially waste time and resources by indicating false demand for a particular course.
ODEM’s staking architecture is based on adoption of the Ethereum ERC-900 interface and has been adapted to accommodate staking characteristics to the ODEM model. Unique elements of the token model shield ODEM Tokens within the platform from external market forces to ensure the integrity of the platform ecosystem.
ODEM, which aims to make higher education more affordable, recently released its technical whitepaper for public consumption. The paper lays out how ODEM is leveraging artificial intelligence to directly connect educators and students for in-person educational courses. We aspire to be the Airbnb of education.
I should point out that ODEM is allied with Excelorators Inc. of Cambridge, Massachusetts, a recognized leader in the organization of high-quality, in person training for international students and executives.
During the first quarter of this year, ODEM sold more than 100 million ODEM Tokens in a crowdsale. The tokens are listed for trading on the Bitfinex and Ethfinex digital currency exchanges. Listing arrangements with other exchanges will be announced soon.
Stay tuned for more updates as we move closer to unveiling the beta version of the ODEM Platform next month.