The conventional centralized higher education system takes 4-6 years to educate a person and there is no guarantee of employment afterwards. We believe that the digital industry today lacks workforce because higher education institutions are not responding to the needs of actual labor market. Most of the skills needed by the digital industry don’t even require a degree in higher education. Workforce that has practical digital economy skills and willingness to learn is needed. That is why today more and more tech-savvy teens get freelancing jobs and earn more than their parents do.
BitDegree is world’s first blockchain-powered, smart-incentives based online education platform which will revolutionize global education and tech recruiting. The main purpose of the BitDegree platform is to let Students acquire skills that are currently required by the labor market. The way to do it is not to ask business what skills they need in the far future (3-5 years), but to respond to explicitly expressed skilled labor demand quickly. BitDegree will directly align the incentives of students and anyone who wants them to become knowledge workers in digital economy - like current or potential employers, digital service providers and sponsors. Smart-incentive is a smart contract on Ethereum network ensuring the exchange of tokens between a sponsor (the Incentive Creator) and a student (the Incentive Taker), who is committing to study a specific subject in order to receive tokens (the Incentive). The BitDegree platform will offer students online courses with a clear and transparent blockchain-based reward system and achievement tracking. Our use case for blockchain is not sensitive to prolonged waiting periods before transactions are committed, thus, overall platform overhead (as in expenses) of using Ethereum network for transactional and immutable data storage needs, will be low. To make the learning process as exciting as playing Minecraft we will use Octalysis framework of gamification design.
We see BitDegree as a unique tool for business to recruit tech talent and shape global education to its needs through smart-incentives. National government Job centers will be able to track the demand of skills without having to involve scrupulous report gatherings from businesses and also help jobless citizens by subsidising studies for skills on high demand. Think about it as Coursera and HackerRank merged together, powered by blockchain technology. The main benefit of BitDegree platform to incentive providers is the possibility to initiate and maintain dialogue with upcoming talent and reward them for achievements through smart-incentives. Smart-incentives on the BitDegree platform will range from small to large and be location and topic targeted. From the student’s perspective, it means getting paid to learn new skills based on local demand, which not only incentivizes but can actually be a viable escape from unskilled work.
Building quality, interactive, and engaging learning experience is essential to every successful education platform. There are attempts to solve the problem: i.e. Coursera and CodeCademy. Despite the fact that these frontrunners face abysmal course completion results, similar to the entire MOOCs industry – just 5%, these two companies together are worth more than $1 billion today. Our proposed incentive alignment approach was not tried in any of educational platforms we are aware of. A merit based rewards, currently practiced in existing platforms, does not substitute income needed to support a student while studying. We will be pursuing our vision to go forward with the development of BitDegree platform even in case of unsuccessful ICO. We anticipate a closed testing, involving incentive providers in [2018Q3] and open launch of BitDegree in [2019Q1]. The capital available to the development of the platform will determine functionality and choice of the course material available. The anticipated capital raised during ICO, will enable us to directly compete with existing education platforms even prior to the benefits reaped by the popularity of BitDegree platform. Companies creating technologies used in digital economy should consider contributing to development of the platform, and ensure technologies they create are represented in the course material available to millions of students
- Equal opportunity. The Token sale offers the same rules and opportunities for everyone. All discounts are public, there will be no hidden bonuses or secret deals. - Transparency. Smart Contract is open source and available for everyone on Github. There are no hidden rules or possibilities. The participants will receive their tokens instantly after payment.
2007-2016 ROADMAP 29M+ user base
29M+ user base
2017 Q1/Q2 Web fundamentals
2017 Q3/Q4 BitDegree ICO
2018 Q1 Best online IT Learning Courses
Best online IT Learning Courses
2018 Q2/Q3 Hype on Student sector
Hype on Student sector
2018 Q4 Business Platform launch
Business Platform launch
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:The idea of getting paid while studying is unique and should allow BitDegree to have a much easier time attracting and retaining users.The attractiveness of the platform depends heavily on whether students can find a satisfactory job after completing the course. If BitDegree can attract reputable companies as sponsors, then there is a strong case for students to enroll.
Concerns:The users of 000webhost and Hostinger, both being web hosting companies, do not seem to have a lot of synergies with the target users of BitDegree.Other online learning platforms such as Coursera, Khan Academy, Udemy, Codecademy, EdX have a lot more course offerings and/or strong relationships with reputable institutions that students trust, which is something that BitDegree do not have. The key team members do not seem to have relevant experience in the education sector.The key team members are also working on Hostinger. It is uncertain how they will allocate their time between the two ventures.
Conclusion:Overall, we are neutral about both the short- and long-term potential for this ICO. Our thoughts of the tokens for short term and long term are as follows:For short-term holdingNeutral. The ICO has been ongoing for 3 weeks amid the bull market for most of the duration and hard cap has not been reached. After tokens are tradable, there will likely be selling pressure because participants’ contributions are being locked up for over a month and some of the contributors would like to liquidate their holdings quickly.For long-term holdingNeutral. The online education space is very crowded and many other competitors have established partnerships with reputable schools, which is something that BitDegree lacks. BitDegree’s sponsorship model is unproven and we are unsure whether BitDegree will obtain a large market share in this space.
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