What is ODEM?
The ODEM platform is an on-demand education marketplace that uses the Ethereum blockchain to maintain student credential information and help students connect with educational programs in which they are interested. Certifications, enrollment statuses and course offerings are all maintained through the platform and recorded on the blockchain. It serves to connect students with educators while cutting out middleman costs commonly associated with the higher education system. By maintaining student enrollment standings and course completion records on its platform this information can be easily verified by potential employers without the hassle of requesting records or contacting educational programs, as is traditionally the case.
History of ODEM
ODEM was founded in 2017 with a mission to help free students and educators from middlemen during the process of obtaining education. It has a large management team from a diverse array of specialties as well as a large advisory board, with members from prestigious institutions such as Harvard, Stanford and Hamburg Universities. ODEM’s presale and main sale event was conducted in early 2018. About 10,000 ETH ($10 million) was raised during the sale during which ODE tokens were sold to investors. Trading for the token launched in April 2018.
How ODEM Works
Based on the Ethereum blockchain, the ODEM platform uses artificial intelligence for seamless management of complex requests, unifying comprehensive educational programs across the globe. As students join programs registered on the platform by educators, ODEM’s sophisticated smart contracts effortlessly manage payments from beginning to the end of their engagement. ODEM tokens are used by students for the purposes of “staking” interest in an educational program and by educators for having their programs listed.
As a blockchain-based platform, ODEM is an extremely novel idea in that it is attempting to revolutionize how educators and students plan, connect, and book educational programs online. As a token, ODEM serves many functions, including:
Educational program staking. If a student is interested in a program, they must stake a (non-refundable) equivalent of 10% of the cost of the program to demonstrate their willingness to participate.
Program Revenue Sharing (PRS). The ODEM platform uses smart contracts to routinely distribute revenue generated by the platform to its partners, including speaking and literary agents, after delivery of services.
Perpetual Curriculum Royalty (PCR). ODE tokens are sent to educators when their curriculum is used by other educators for instruction. Smart contracts send ODE when third-party educators use licensed material through an individualized passphrase. There is an ODEM fee accompanying this process.
Education Token Sponsorships (ETS). Similar to scholarships, ETS fund the cost of studies for disadvantaged students and use the platform’s smart contracts to confirm that the conditions of the donations are being met.
Currency Agnostic Settlement (CAS). ODEM leverages blockchain-based systems to use ODE as a voucher for use on its platform. ODE will be used to ensure that the platform’s transactions are fast and reliable, with multiple parties on each side regardless of the type of currency being used.