Blockchainmeets online education. Is theMIC platform a revolution or just empty talk?
Theeducation industry has always been one of the industries with thegreatest growth potential, and in this era dominated by the Internet,the traditional offline education industry is also facing hugechallenges and pressures just like catering, finance, and e-commerce.According to the survey, there are hundreds of thousands of domesticeducation and training institutions, but 95% of them have revenuesbelow 10 million yuan, which shows that competition is fierce in theindustry.
Especiallyaffected by the pandemic, many offline education institutions arefacing financial difficulties caused by loss of students, lack ofteachers, high rental costs, and competition from online education.Compared with traditional offline education, online education is ableto resolve issues such as geographic restrictions, insufficientteachers, enrollment problems, and high expenditure costs.
However,while the current environment has presented many excellentopportunities for the online education industry, it has alsohighlighted many problems that have long been latent in onlineeducation, such as information fraud, copyright theft, andplagiarism. Blockchain technology, which has the characteristics ofopenness, transparency and immutability, can solve many of theseproblems.
Onlineeducation solves offline issues
Manyeducational institutions have long neglected the importance ofkeeping teaching plans, class materials, teaching records and otherteaching data; as such, high-quality teaching content cannot bereplicated and shared. This is one of the issues facing offlineeducation. There are a lot of complex teaching resources, and theseresources are constantly updated to reflect the current syllables.However,if there is no proper system in place to archive these resources,they often end up lost.
Throughonline education, teachers' resources such as scientific papers andresearch, or even an ordinary teaching plan, can be safely stored inthe server. This solves the problem of preserving teaching resources.At the same time, it gives teachers more management and controlrights of learning resources, which also makes it easier for futuredistribution.
Inaddition, the difficulty of enrolling students and the high cost ofacquisition have made it difficult for every offline education andtraining institution to overcome. The enrollment model of handing outflyers, from printing to human resources, is expensive. Beforerecruiting a student, a lot of money has already been sunk.
Basedon the online education social network that connects everyone,offline education and training institutions can launch differentonline teaching content that directly meet the learning needs ofdifferent users. Users can purchase their own teaching content toachieve their own educational goal. This is a win-win for both thecompany providing the resources and the learner, thus effectivelysolving the issue of traditional offline education and traininginstitutions.
Howdoes blockchain bring reforms to online education?
Researchshows that users in the online education market are predicted toreach RMB 23.5 billion in 2020. But this exponential growth alsocomes with its fair share of problems. For example, the low thresholdrequirements have led to uneven distribution of original content;this directly affects teachers’ income. Only a few teachers thatare considered the “best” will be able to generate high income,yet other original content creators will only receive basic income.
TheMIC blockchain online education platform is the world's first onlineeducation platform with decentralization, consensus mechanism,traceability and high trust combined with blockchain technology. TheMIC ecosystem is a complete value system composed of consumers,providers, communicators, and supporters (such as suppliers ofteaching companies).
Theblockchain protocol will allow content producers to avoiddistributing profits through centralized platform channels. In doingso, the online education system will be fairer and can inspirecontent producers to produce better educational resources of higherquality. In turn, teachers will have ample educational resources tocarry out teaching and can also publish their own original works toreap the benefits.
Blockchaintechnology empowers information security
Furthermore,another important reform that the blockchain has given to onlineeducation is the authenticity of student status and academicinformation certification. Using blockchain technology, eachstudent’s status and education information entered in the MICblockchain system will be verified, and a time stamp certificationmechanism will also be added to ensure that each student statusinformation is true and cannot be tampered with.
Dueto the distributed nature of the blockchain, there will be nosituations in which student status and education information may bestolen or lost like we have seen in online servers. At the same time,due to the decentralized characteristics of the blockchain, theleakage and reselling of academic qualifications and student statusinformation are also avoided, ensuring data security.
Blockchain technology hasproven to be a technological breakthrough that will reform andempower many industries. When blockchain meets online education, theeducation industry is bound to set off a new revolution.
Asthe world's first blockchain online education project, MIC willpromote the reform of the education system by creating a neweducation environment, providing users all over the world with onlineeducation services, and evaluating teachers and teaching quality.Together, MIC will accelerate the evolution of the education system.