ODEM — Unlocking Higher Education
GSV-Advisors calculated that the value of the education market, globally speaking, was $4.9 (USD) trillion in 2015, and that venture capital investment in education companies reached nearly $2 billion in 2014 (after growing at a 45% rate over the past five years). In addition, we are seeing the rise of entire trade associations dedicated to optimizing opportunities for investors looking to capitalize on the education sector.
This important industry faces a set of challenges in modern fast changing world and we see emergence of project aimed to resolve some of them. ODEM — The On-Demand Education Marketplace is one of them.
Problems and Solutions
ODEM will be a comprehensive platform that allows students, educators and service providers in the education industry to participate in a direct, decentralized, real-time marketplace. It empowers participants to search, select and purchase existing educational products as well as create, request and negotiate customized education experiences in person and online.
This platform is designed to resolve some particular problems within educational process:
Access to both local and international onsite, and in-person educational experiences.
A single education community in which students, educators and service providers can communicate and participate directly in a secure environment.
A more efficient way of sharing and understanding educational requirements, goals and details to meet the rapidly changing workforce and the globalization of students and educators.
A single, real-time system of negotiation, curriculum description and payments on an agreed-upon schedule.
An integrated academic and curriculum schedule builder with details available to all participants to ensure development of educational.
Capacity to perform back-and-forth language translation at all levels of education.
ODEM platform will introduce a system of smart contracts to ensure the security of the financial exchange and holding of the funds within the services for education programs. Payment of educational services on the platform will be made via cryptocurrency, namely the ODEM token. The combination of ODEM token and smart contracts will help to shape an efficient and transparent environment for trustless cooperation between students, lectors and service providers eliminating traditional third-party intermediaries.
Considering advantages and disadvantages of the Blockchain technology the ODEM platform will use on-chain as well as off-chain transactions. Many transactions will be processed prior to being transferred to the blockchain transaction layer. Processes that involve financial transactions or legal conditions will take place on the blockchain through smart contracts. The whole logics of the platform workflow can be seen on the following illustration:
Industry Experience
The ODEM team was inspired by the success of U.S.-based Excelorators, a premier provider of education services to overseas students, executives and managers seeking exposure to America’s elite learning institutions and corporate campuses. On that foundation, ODEM is establishing a new industry standard of satisfaction by revolutionizing the quality and accessibility of high-impact educational experiences.
Excelorators has clients in the People’s Republic of China, Pakistan, and South America. In particular, Excelorators has deep relationships of trust with Chinese clients who are distinguished by their meticulous and unrelenting focus on achieving maximum value for money from their overseas experiences. Excelorators will serve as a service provider by encouraging its academic contacts to become early adopters of the ODEM platform.
Several of Excelorators clients have already committed to joining the ODEM platform. Their discerning approach to purchasing and designing educational programs will provide an excellent proving ground for the platform. Key partners and Excelorators clients are expected to champion the ODEM early on.
Token Sale
The main token sale will commence tentatively on January 20th, 2018 and will continue until February 19th, 2018. A total of 140 million ODEM tokens will be issued in this phase. The tokens will be issued at, or around €0.05. No bonus will be given during this phase. Considering the fact that the ODEM platform can only perform optimally if the tokens are widely distributed, a user will be allowed to buy a maximum of 250,000 ODEM tokens during the first hour of the main token sale. After that, a maximum cap of 250,000 ODEM tokens will be lifted.
Considering the global Token Sale regime, ODEM is committed to following certain best practices. The ODEM token sale will require KYC (Know Your Customer) and AML (Anti-money Laundering) protection measures to ensure contributors can legally participate in the token sale.
Token sale details
Token: ODEM (ERC20 of Ethereum blockchain)
Price: 1 ODEM = 0.05 EUR
Token Issuer: ODEM Swiss AG (in formation)
Total Tokens: 245,714,283
Tokens to be sold via the Token sale: 172,000,000
Hard cap on the main token sale: 140,000,000
The contributions raised by ODEM will be used for the research and development of the ODEM marketplace. The Token Distrubution and Use of Funds will be as follows:
The team has prepared detailed roadmap considering 3 scenarios of ICO sales: Level 1 ( from €1 up to €2 million), Level 2 ( from €2 up to €5 million) and Level 3( from €5 up to €10 million). For more specific information about the project, please reffer to ODEM Whitepaper. All details about ICO are available on the website.
This review was inspired by the translation and localization project completed by the team of ICO-Translate.com for ODEM project. The original article is published in our blog.
Source:
Website : https://odem.io/
Whitepaper : http://odem.io/docs/whitepaper/ODEM.IO-Whitepaper.pdf
ANN thread : https://bitcointalk.org/index.php?topic=2591616
This review was prepared by albermaze.