ODEM is an project which wants to make education accessible worldwide via a blockchain-based system. The company launches its ICO on 17 February. In the following I would like to introduce the project and the ICO.
The combination of blockchain technology and education automatically makes you think of things like video-on-demand or online education. However, this is not the real application of the ODEM network. The aim is to create a worldwide network that guarantees access to education. For example, interested students from China will be able to book and attend events at American universities via ODEM. It should be noted here that the project is backed by the successful American company Exelerators, which has been operating this business model for many years now - centrally. Especially from Asian countries the demand for access to Western education is constantly growing, which is why the idea of ODEM was born. A decentralized ecosystem and a marketplace that provides worldwide access to education and other services. Providers of courses, other forms of education or by-products can offer their services directly on the international market and potential consumers of education can submit requests for special courses and the like. The Exelerators model is being outsourced to ODEM, which means that supply and demand are currently prevalent and users will participate in the network. In addition, people, agencies and consumers can access the platform directly. ODEM generates an infrastructure that can be used by various market participants in different ways.
As you can see in the picture, apart from this primarily advertised application, there are several other business processes that will be handled in the ODEM network in the future. Companies can directly advertise scholarships for specific educational opportunities to secure the best talents or offer courses to their employees in the ODEM marketplace. Various on-top providers can offer services such as accommodation, translations or catering directly, so that platform users can put together a complete package.
In principle, various aspects can be listed which highlight the enormous benefits of the block chain technology in this system. A decentralized marketplace in which tokens can be used as a kind of software license allows you to be isolated from central authorities. Once the network is up and running, it can be accessed from anywhere in the world and no central authority is able to restrict or prohibit things. Blockchain makes it possible to secure identities worldwide and to coordinate them safely and fairly between many different stakeholders in one system. The use case payment processing is probably visible to all readers. When it comes to building relationships between different countries, cryptocurrencies are very suitable alternatives to traditional solutions such as SWIFT. Within Europe, SEPA is a comparatively efficient system in operation, but when it comes to international payment processing, both costs and processing time increase.
The ODEM ICO will start on February 17th and has a funding cap of 9 million Euros (in Ether). In December 2017 ODEM has already successfully collected more than 2 million Euros in a pre-sale. Altogether 60% of all tokens are sold - 15% have already been sold in the presale. Through the Bounty / ODEM Rewards Pool some more tokens will be released as the project plans to subsidize courses in the system initially. However, I see this as an advantage because it encourages a network effect, which can be very advantageous in the medium to long term.
Interested participants are already able to register on the website and make KYC. This ensures that Ether can be deposited instantly at the start of the ICO and that you don't miss your chance through the KYC process.
As a project with solid experience in the relevant sector combined with a comparatively low cap, I see ODEM as extremely promising. The whitepaper is very well structured, provides examples of application examples and a technical description of the platform. The telegram channel of the project has just under 10,000 users, which also suggests that there is demand. The team behind the project convinces with experience and knowledge in the education sector as well as technical expertise. I had the opportunity to talk to Richard (CEO) and Bill (COO) and find it very refreshing that they are already looking forward to the end of the ICO to finally concentrate on their vision. Even though education may not be the number one hype-fomo issue, ODEM seems to be a very professional project that can have a long-term impact on the education market. The token seems to be a clear utility token, so I expect nothing should stand in the way of a listing on a larger stock exchange.
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