Learning on Blockchain
Co-Founder & CEO
On-Demand Education Marketplace (ODEM)
Many people call blockchain web 3.0, the future of the internet. Blockchain technology started in 2008, where an anonymous individual or group of individuals named Satoshi Nakamura, invented Bitcoin, which has the total value of over $1 trillion.
What is blockchain you might ask? Blockchain is a public electronic ledger, like a database, that creates an unchangeable record of transactions between users. Each digital record or transaction in the thread is called a block, and the string of blocks are a chain. Blockchain can only be updated by consensus between participants in the system. When new data is entered, it cannot be erased. This makes the chain a verifiable and unalterable string of records for every transaction ever made in the system.
The potential for blockchain technology has only just begun. Traditional tech giants such as Microsoft, IBM and SAP have invested in blockchain technology. Major industries, such as banking, real estate, travel and even social media are being disrupted by blockchain startups.
How will this take shape in education?
To help shed some light, joining us is Richard Maaghul, the CEO of the on-demand education marketplace ODEM, based in the Switzerland.
Richard is a seasoned Silicon Valley entrepreneur with more than two decades of experience in emerging-and-disruptive technologies. A former software provider to Chevron Corp. and a co-founder of ODEM’s education partner Excelorators Inc., Rich is committed to using blockchain technology to make higher education more accessible and affordable.
Podcast Episode Highlights
Blockchain in a Nutshell
- Imagine a file folder of information that is stored in a file cabinet. But with the distributed ledger, the file folder lives on thousands of computers. They store the records of every transaction throughout history.
- Distributed ledger is the foundation of trust, accountability, and transparency.
- There’s no one entity who has complete control of another person’s information. This is the difference between the centralized and decentralized system.
- From a school perspective, the centralized system is a school or university. We are trying to go away from centralized education institutions who own all the student information as well as education to a peer-to-peer model. In order to do this the ledger has to be leveraged.
- This technology will help companies, organisations, and people we serve in education to gain more power back by the decentralised distributed ledger.
- ODEM is an education market place for built for students and educators.
- It allows students to connect directly with the educator for in the classroom accredited and non-accredited education.
- The market removes costly layers of middlemen.
- ODEM aims to reduce the barriers of education.
- The goal is to lower the cost of education without giving up the high quality of education.
The difference between ODEM and other education markets
- ODEM mirrors the administrative process found at universities and high schools.
- Coursera on the other hand provides on demand videos. Whereby it is not interactive. Therefore, the completion rate is about 10% to 20%.
- What we at ODEM are trying to do is to become “in the classroom” education. Interacting with teachers and other students, keeps both the teacher and the student accountable, builds great communication skills, and it solves the completion rate problem.
- Online education requires a lot of preparation.
- ODEM is designed to help students who are not used to online education, and not prepared for it. ODEM helps learners who need to communicate via follow-up questions.
The Structure of ODEM
- ODEM is focusing on starting in the classroom and eventually move towards the blended approach, where there is a combination of online and face-to-face learning.
- As ODEM aims to be more interactive as it moves forward.
Benefits for the Educator
- Educators will have the opportunity to think out of the box.
- Educators will be able to create their own curriculum and earn money through that. Moreover, when other teachers use their curriculum, they’ll be able to earn royalty from it, and get the IP protection as well.
- How does ODEM help with IP? When the information is put on the blockchain, it will always live on the blockchain, and it will always belong to the person who put it there. If someone tries to take it, there will be a stamp and we would be able to follow the blocks. If someone tries to change it, it can be changed back to its original form.
- Higher education or university students who are looking for alternative solution.
- Students who cannot afford exorbitant fees charged by traditional institutions.
- Students who are looking for a more immediate positive outcome out of education, more skill based education courses, where they can quickly take a course and be able to take a skill and move on.
- Student who have graduated college. Most students who graduate from college, don’t have the skills to move into the workforce quickly.
- Continue education students, adults from the workforce who want to get recertified and grow within an organization.
The future of education with ODEM
- Everyone will have a solid chance.
- Students getting to educate themselves throughout their whole lives.
- Personalization of learning.
- Shorter term programs.
- Focus on pragmatic based skills.
If you would like to get in touch with the organization, you may do so via: ODEM Education Revolution
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