The costs of higher education have skyrocketed and it is now common for students to take on $200,000+ in debt to get a degree. The system is designed to serve the elites but does little to enable class mobility. This is expected to get worse as automation spreads throughout the economy and replaces some of the simpler jobs.
A new company called ODEM or On-Demand Education Marketplace has emerged that seeks to solve this problem. The solution is quite simple: use revolutionary new technology to cut out the inefficiencies in the system and connect students and teachers directly.
The basic idea of the platform is to connect students with trusted members of the education industry. Technology enables a lot of new connections to be made by making it possible for cross-border relationships to occur when normally the education industry is limited by physical boundaries.
With the implementation of the platform, management of student housing, transportation and other necessities may become simpler, with the addition of more options being available. ODEM’s scalable aspects will help both local and international students improve the process by which they receive their education.
The ODEM tokens are the key enablers in this innovation by cutting out intermediaries and acting as a common currency that works across borders. The platform is backed by Ethereum-based smart contracts, which will simplify all the agreements between students and professors.
Use of the Ethereum Blockchain is essential to the functioning of ODEM. The transparency of the system and ease by which payments may be facilitated are the key competitive advantages of this service.
The three major use cases of ODEM are in decentralizing the marketplace, coordinating complex relationships and facilitating transactions. The only way for ODEM to gain any sort of commanding market share is by innovating a significant amount in each of these areas.
Tailored learning is the future and ODEM may become one of the first companies to offer a viable solution to the problem of poor quality and high cost the post-secondary education is facing right now. The project’s team believes, when students and teachers can connect and interact on a direct level, more can get done and a better learning outcome may occur. An ICO is necessary to bring this solution to market, and ODEM is planning to begin theirs on Feb. 17th.
One thing that is notable to the token sale is the need to follow certain KYC or Know Your Customer, rules. Like any other investment, a certain amount of information about the investor must be made available to regulators before it can be ascertained they are eligible to invest in said token. Some token sales ignore these requirements at their own peril, but ODEM has placed a specific emphasis on implementing best practices, the company says. Users can pre-register for the ODEM token sale at odem.io.