Education System! Well, you are extensively aware of the current education system in India. Let’s have a glance at what we have been taught during various stages of education.
1. Primary Education [7 Years]
- Environment, Basics of Maths(DMAS), Languages(SL)
2. Secondary Education [3 Years]
- Mathematics(trigonometry,geometry etc.), Science, Languages(SL)
3. Higher Secondary Education [2 Years]
- Advance Mathematics(Integration, Differentiation etc.), Chemistry, Physics, Biology
4. Graduation [Bachelor Degree- 4/5 Years]
- Core subjects related to the field of graduation. Memorize + Pass…. (I really don’t know what i have been taught in spite of doing graduation.
5. Post Graduation [2/3 Years]
- Advanced subjects exploring your particular filed only. Again Memorize + Pass…
Conventional Education Model
In India, if you are going to complete these five stages of education, you are going to become either doctor or engineer(or a family disappointment ;)) Under this era of education, we all are going to be explained similar things that have been there since 50-60 years. Understanding nature of all students will not be similar, right? Then why would we be expected to learn what we don’t want to? And we end up with wandering having the resume in our one hand and hope in another one. You seem offensive! Just follow me at least till next real example.
We will be studying Database Management, Computer languages such as C, C++, HTML, CSS, Java, PHP, Data Mining and a lot more in Computer Science Engineering. But what about On-Page SEO, Off-Page SEO, WordPress, Woocommerce, WP Customization, SMO, Adwords etc. which are the actual requirement of recruiting companies. And as a result, when a particular student is supposed to write CSS code for just adding a responsive button or adding/removing specific area within site, he will be confused and this is the fact. Under this course, we are not supposed to learn how to create a website even in wordpress. At the end of the course, we will be having theoretical knowledge of multiple languages aka coding without practical skills. Multinational companies want the best employees having real practical skills and here we are memorizing traditional languages. As a result, there exists a gap between educated labor supply and demand driven by business.
The Internet has enabled us to reach the universal knowledge pool, to interact directly and informally with the greatest minds of our age. However, the entire global education system has become frozen, using centuries-old methods that are virtually ineffective. It is not a surprise to anyone that higher education institutions are failing to fulfill their mission to transfer know-how and let students develop practical skills that are necessary to guarantee successful employment. The current education model faces many problems such as:
- Missing innovation
- Lack of ambition to become entrepreneur
- Parochialism rather than global outlook
- Uninspired and untalented educators
As a part of the solution to this conventional education, Coursera, Udemy, Skillshare, HackerRank etc. offered a centralized platform for tutors and students where any student with his/her area of interest can learn that particular skillset with the help of various categorized courses provided by tutors on these platforms. And Boom! this online education business is now worth around 1 billion. But as the world is now moving towards decentralized platform using blockchain technology, these online education platforms should have to be decentralized. A complete solution to this traditional education system and to decrease labor supply and demand gap, Bitdegree is developing online education platform powered by blockchain. BitDegree review and analysis, in brief, is described below:
What is BitDegree?
BitDegree Education Model
BitDegree is world’s first decentralized education platform powered by blockchain with token scholarships and tech talent acquisition. The bitdegree platform will offer students the best online courses with a clear and transparent blockchain based reward system and achievement tracking. It is also a unique tool for businesses to recruit tech talent and shape global education to their needs. Think of it as Coursera and HackerRank merged together, powered by the decentralized blockchain technology. For better understanding, give your few minutes to attached video.
How Does BitDegree Work?
BitDegree is proposing a digital incentivized studying platform as a new tool to grow the global tech talent. It is the simple 3-step process as explained below:
1] Companies in need of tech talent will provide financial incentives to students willing to participate in training courses and to develop their skills.
2] People/Students looking for new opportunities will learn new technologies, develop practical skills in demand, and get familiar with existing technological solutions provided by solution providers. Students will be able to communicate with other students and course mentors, to pose questions, and seek for more detailed explanations.
3] Companies providing incentives will be able to get in touch with students enrolled in subsidized courses, and possibly offer employment positions for good performers.
In addition to this, each student showing learning progress will rewarded and get a scholarship in bitdegree tokens. The BitDegree platform will register progress of each student and will provide ways the students can prove they overcome the challenge of developing and applying skills to solve problems. BitDegree will rely on Ethereum Smart Contract to enable incentives scheme and to store a transparent record of all achievements made by students.
A smart incentive system is an Ethereum-based smart contract that provides the exchange of values (tokens) between the promoter (sponsor) and the recipient of the promotion (student).
Benefits of BitDegree Platform
Version 1 of the BitDegree platform will provide solutions to most of the problems we seek to solve:
- It will match business and student incentives;
- It will allow businesses to familiarize students with their offerings;
- It will enable opportunistic, continuous learning for people striving to gain new desired skills and knowledge;
- It will lower costs of sharing the knowledge and assessing knowledge/skills;
- It will help motivate students to continue with their study efforts and will provide incentives to those progressing forward.
BitDegree Review & Analysis
- Provide students with the best online courses through a simple and transparent system
- Companies with best tech talent using courses they have offered to students on bitdegree platform.
Benefits to Students/Job Seekers:
- Can learn the latest technology that in current utilization.
- Can get employment according to their learning progress report by world-changing companies.
Benefits to Companies:
- Instead of hiring and training employees, companies can train people/students of their interest by directly offering training courses to develop the skills.
- Can lead to their company to a higher degree of development and progress.
Country of Origin: Lithuania
Technology: Ethereum Blockchain
Idea & Possibility
- Simple and interesting idea
- The Solidity course material for programming smart contracts is ready
- Solves the biggest problems of unemployment
- Companies can directly recruit employees based on tech talent
- Partnered with Hostinger and 000Webhost
- It will fulfill the demand for tech talents and enhance the economy.
- Multiple language translations
- Abstract nicely explained by whiteboard animation
- Registered 4 months ago and expiring in 2023
Status of Prototype
- The Solidity course material for programming smart contracts is ready.
- The actual prototype is under development.
- The team has been working for a quite long time.
Market and Audience
- Unexplored market
- Market accommodating a huge number of student
- Online education platform worth $1B
- High number of use cases
Hype and Interest
- Former Coursera Senior Product Manager has joined Bitdegree
- BitDegree makes “first of many appearances in Silicon Valley”
- BitDegree WINS Moonrise 2017 blockchain startup competition!
- Orca Alliance joins BitDegree
- Ethereum blockchain infrastructure
- Cryptocurrency ERC20 tokens
- Reward in form of scholarships
- Tech companies
- Trading and investment
- Institution and organization
|Maximum Cap||30,000 ETH ~ $12.5 M|
|Total Token Supply||660,000,000|
|BDG Crowdsale||December 1st, 2017|
|Exchange Rate||1 ETH = 10,000 BDG
ICO Token Distribution
|BitDegree Foundation||66 M (locked for 360 days)|
|Scholarship Pool||165 M|
|Public Allocation||3,336 M|
|Team||66 M (locked for 720 days)|
|Advisors/Partners||132 M (locked for 160 days)|
|Total Tokens||660 M|
Competition in blockchain space – NIL
Competition in real-world space – Udemy, Coursera, Skillshare etc. Online Education Platforms.
Andrius Putna, CEO, Co-Founder
- 11 years in software engineering.
- Blockchain advocate.
- The person behind the success of 000webhost -world’s first and biggest free cloud hosting platform designed for learning, testing and experimenting.
- Hostinger product architect.
Roberto Santana, Product and Strategy Advisor, Former Senior Manager at Coursera
- Entrepreneur and Former Product Management Growth Lead at Coursera
- Project and Business Development Manager at Zendesk
- Senior Engineer at Shell where he led his team to $400m in refinery revenues.
Jeff Burton, Serial Entrepreneur, co-founder of Electronic Arts
- Global technology executive, keynote speaker, and a Silicon Valley veteran
- Jeff developed U C Berkeley’s Skydeck startup accelerator that is helping various startups to grow and scale in Silicon Valley
- Highly experienced and dedicated contributor.
In order to revolutionize the conventional education system has to replaced by such ideas and as we have it then why don’t we support them! With strong development team, it is going to be great in 2018. Bitdegree review and analysis published here is neither any sort of promotion nor copied. DOYR before you take a dive.