The education market is absolutely massive in the USA and around the world. In fact, some experts say that the global education market is worth trillions and trillions of dollars. However, the market is incredibly vulnerable, despite how much money it brings in.
The price of tuition, books and other education costs have increased by a lot recently, which has kept some people from pursuing degrees and made it much more difficult to afford post-secondary schooling. Also, the gap between college education and the actual requirements of the job market has grown.
Even if people still decide to go to college, they will often leave with thousands of dollars of debt, with no guarantees they will ever even get a job. While more affordable online education has helped with the cost problem, there is still a ton of opportunity in the space for technology to improve the market.
Specifically, blockchain technology could provide to be the solution that the education market so desperately needs. One platform and company in particular is hoping to unlock human potential and revolutionize the industry via blockchain technology is ODEM. This article will introduce you to the platform, their mission, how the platform works and more.
What is ODEM?
ODEM (which stands for On-Demand Educational Marketplace) is a network based on the blockchain that allows for university students and professors to interact with each other seamlessly and easily. The platform will allow the sharing and exchange of education and learning, without the need for any third party systems or individuals. They have the goal of making education more affordable and accessible to a much broader audience, and will create decentralized channels for communication.
However, don’t mistake ODEM for an online education platform, as that is not what they are. They combine real-world classroom learning with the flexibility of online education, to provide the best of both worlds. This connection through the app makes premium education very efficient, without the need for costly intermediaries.
Also, the platform allows qualified individuals to create customized curriculums which can help students gain practical knowledge in a variety of different areas. The platform has the potential to completely revolutionize how students and educators alike plan and carry out a variety of different educational programs.
How ODEM Works
Basically, the platform will be a marketplace where students and educators will be able to buy and sell educational programs. However, like some platforms that set up virtual interactions, ODEM is all about setting up in-person customized meetings and programs, aimed at providing solid education for less.
The platform will work a little bit differently depending on if you’re a student/student rep or a professor/education provider. First, we will look at the process a student will use on the platform. The student will first have to register and create their wallet, and then will be able to either choose and existing program or create a new one. Next, you will receive a response to your proposal and you will check out and accept program. Once payment is finalized, you are good to go. Students can also submit custom curriculum and can get ODEM tokens as royalties for this content.
For educators, the beginning is the same as they must register and create a wallet. Next, they will have to design and submit their content, which could be courses, lectures or programs. Also, people will be able to request programs from educators as well. Once someone selects some of your content or makes a request, and payment is received, then the smart contract will be executed.
Once both the student and educator have gone through these steps, the system will automatically create a schedule with all the details inside, program certificates and more. Thanks to the blockchain technology that is inherent within ODEM, the platform is incredibly secure, and also completely transparent to ensure it is always fair. It is also incredibly easy to use, simply log in and select the program or service you would like to purchase.
ODEM utilizes artificial intelligence in their Program Generator to match students and providers based on pre-set criteria and requirements. A.I is also used to manage complex requests and organize the entire educational programs, all over the world. Smart contracts are also used to ensure payments are managed accurately and correctly.
ODEM has their own utility coin (which is called ODE), which is what people will use to transact in the platform. Of course, the coin can also be bought and sold as a traditional investment, too. The ICO for ODEM ended in mid-March of 2018 and the team raised over $4 million during their token sale.
If you want to learn more about their platform and how it works, or the many features and benefits, be sure to check out their website or their whitepaper.
The Team at ODEM
The team at ODEM is a very diverse one that features a number of different experts and executives from a variety of industries. The team at ODEM is led by CEO Richard Maaghul and COO Bill Bayrd. Maaghul is an experienced entrepreneur in Silicon Valley with more than two decades of experience with emerging technologies. Bayrd has founded three different companies, has a Doctor of Pharmacy degree from Tennessee and is a natural leader.
On top of them, the rest of the team is rounded out by those with decades of combined experience in engineering, business development, marketing, IT, sales and more. In addition to the team, ODEM has a number of high profile and impressive advisors such as Harvard educators, Stanford professors and successful blockchain experts. The homepage of their website features full bios of the rest of the team, and some of the advisors, if you want to learn more about them as well.
In conclusion, this project has a lot of promise and could be the solution to many of the different issues that are plaguing the education market. It seems to provide quality and affordable content for students, which is something many of them desperately want and need. Despite this, the project’s ICO only just ended and thus, they are still in their infancy as a functioning platform. As a result, we should keep our eyes on this platform, but keep in mind that they are brand new in the space.