BitDegree is a company looking to decentralize private education and address the problems facing not only students but instructors and employers too.
The BitDegree philosophy
With technology evolving so quickly, the education system can’t keep up. As a result, the training offered to students is not keeping pace with the needs of the industries they hope to work in. Students can finish their education and still lack the essential skills necessary to get a job in their chosen field. This is a waste, and it hurts employers as well as students.
BitDegree believes that democratized education would provide the solution to this issue that benefits students, instructors, and employers.
How does it work?
The platform is driven by BitDegree’s token (BDG). BDG is a utility token that can be used by students to access courses and incentivizes people providing services.
Courses are split into six levels. The first level is free, and students can buy BDG to access higher level courses. However, the student’s progress isn’t restricted by their ability to pay – BDG can be earned by completing courses and for mentoring other students. This incentivizes users to share their experience and contribute to the platform’s goal of providing support to new students.
Incentives for Instructors and Employers
What makes the system genuinely democratic is how it encourages different parties to work for each other’s benefit. Employers can sponsor students who can then acquire skills valuable to the employer, instructors are rewarded for providing the courses that the students study, and the students ensure demand for those courses while assisting with mentorship — this creates a chain of benefits in which each party is an indispensable link. Students get a quality education, educators get backed by employers, and employers get skilled employees.
What courses does the platform offer?
The platform is young, but it already offers a respectable and diverse range of courses. You can take a beginner’s course in game design or web development, and there is a range of self-improvement courses focusing on disciplines such as time management and increasing your productivity. You can even take a course on investing in Bitcoin.
E-learning has been around for a long time, but the BitDegree project seems to take a novel approach that could draw a great deal of interest in the future, and there is an underlying political element to BitDegree that could work in its favor.
Democratized education is a worthy endeavor in a world where established institutions price many people out of the equation (or where other forms of discrimination are a problem), but having the ability to provide this service is not enough alone. To truly make an impact, the project needs to garner enough interest to attract top educators and companies so that the project may grow and the quality of education rivals that already provided by those established institutions that offer education for a fee many can not afford.
Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.