I spend a lot of time in the air, travelling around the globe spreading the word about On-Demand Education Marketplace, or ODEM.IO. One of the questions I’m asked most often on my business trips is “How will blockchain technology help ODEM to improve education?” My answer: Blockchain gives us the opportunity to go big.
Blockchain, automated smart contracts and artificial intelligence enable us to provide solutions to global problems in education such as accessibility, cost and the removing the inefficiencies caused by intermediaries. For students the result is improved access to a learning that better prepares them for the changing demands of the job market.
“Blockchain, automated smart contracts and artificial intelligence enable us to provide solutions to global problems in education such as accessibility, cost and the removing the inefficiencies caused by intermediaries.”
Distributed ledger technology relies on network consensus for transaction approval, rather than a central authority. This means that we’re able to eliminate the middlemen from education transactions and communications, allowing the education supply chain to reduce costs by communicating in real time.
At ODEM’s core is Excelorators Inc., our business partner and industry leader in providing world-class education. Excelerators has over five years experience providing on-site educational experiences for international students and global executives at top universities and corporate campuses. While arranging courses may not seem like a particularly complex process, it really is a veritable spaghetti bowl of interlinking relationships. The blockchain allows us to manage the complexity, turning Excelerators into a springboard for transforming education on a global scale.
“The blockchain allows us to manage the complexity, turning Excelerators into a springboard for transforming education on a global scale.”
ODEM.IO and Excelorators manage complexity through the smart contracts based on the Ethereum blockchain. By allowing parties to make network commitments, such as agreeing to a specified course curriculum, dates and locations, smart contracts streamline the logistics of education. As a result, the process is simpler and more efficient. Unnecessary administrative costs that would typically be passed on to students are removed.
On top of smart contracts, artificial intelligence automates the process of matching the interests of students with educators and other service providers. Our AI-powered program generator will identify and organize student preferences, creating events and courses that meet necessary requirements.
By removing intermediaries and traditional payment constraints, ODEM will be able to connect many global parties. Connectivity means that interaction and coordination between parties can occur, facilitating education experiences that otherwise likely wouldn’t have taken place. Our system will also make cross-border payments easier and less complex.
With immutable network records, blockchain technology also makes it possible to verify the identities and credentials of participants within the marketplace. This ensures that all parties are who they say are.
Finally, building a decentralized marketplace with blockchain technology will enable greater collaboration on course material for students and educators. Collaboration allows for customized course curriculums, and ultimately, a better experience for students.
I hope my next airline seat mates agree that my enthusiasm ODEM.IO is infectious.
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