English has been the effective lingua franca since the ascendance of the British Empire in the 19th century. It is still used as a common global language to this day, and proficiency is especially prized in countries competing to export to the massive combined economy of the United States, Canada, Australia, Great Britain and Ireland. This has created a global industry worth billions of dollars; in rich manufacturing centers such as South Korea, there are even celebrity ESL tutors making seven figures! Students from all over the world learn English from native English teachers—often traveling to dedicated schools overseas—forming a robust community with its own Meetups and conferences.
Our team includes highly qualified ESL professionals with years of experience in the industry, and we are partnered with established ESL organizations. This includes one of the largest related Meetups and Facebook pages in the world, whose growing online community created the need for our upcoming blockchain-powered ESL app.
ESL Coin is the full application of blockchain technology to the ESL industry. In addition to providing a common means of payment, it will function as a decentralized autonomous database of ESL students, teachers and businesses. Smart contract technology will be used to assign reputations to users based on feedback from others, who will be initially verified by a blockchain-based ID system.
Anyone will be able to use this network to find ESL services or clients without paying hefty middlemen fees. Instead, what little fees exist will be redistributed as micropayments to native English speakers who help students practice, as well as to miners and other third parties. These will include Mooti.id and DECENT, responsible for registering users and educational content, respecitively.
The ESL Coin Network will be accessible via the BitLingual company's DApp, TryEnglish, as well as other third parties. We and our partners are also exploring other applications of blockchain technology to the ESL industry, including translations, accent reduction, content registration and distribution and academic record transmission.
No new ESL Coins will ever be generated, creating a stable ecosystem. The Network will be governed by a Co-operative—a decentralized legal entity which all significant ESL holders may become a member of—ensuring no one person can maintain ownership or control.
