What is BitDegree?
BitDegree is the first project which is trying to combine education and the Blockchain technology in a platform which offers courses and rewards based on the successful completion of these courses. It is also tackling some of the disadvantages of a traditional educational system.
When it comes to online education platforms, there are several products out there, including Coursera, CodeAcademy, CodeFights or HackerRank. BitDegree is fundamentally different from these platforms because it offers a decentralised educational platform, based on the Blockchain technology.
How does the BitDegree platform work?
Employers looking for people to hire will offer rewards in the form of BitDegree (BDG) tokens for students who successfully complete the courses or parts of the course offered on the platform, as seen in the diagram below:
Sponsors will be responsible for financially supporting the BitDegree platform. Anyone can become a sponsor on the platform, including large corporations, HR firms, governmental agencies or educational institutes. These sponsors will be able to use the token in order to create their own courses and upload them on platform, as represented in the diagram below:
On the other end of the platform we have consultants, content creators and mentors who will also be rewarded for their contribution on the platform. With the received tokens, they would be able to use services provided by BitDegree’s partners and also exchange these tokens for other cryptocurrencies or even fiat. The transactions would be completed using smart contracts.
A working prototype of the platform has already been released and students can enrol and access the first course about web development here.
The team has 22 active high-profile members, including Andrius Putna, current CEO and co-founder with a vast experience in IT and software engineering. Other notable members include Roberto Santana, ex-manager at Coursera and Jeff Burton, co-founder of the tech giant Electronic Arts.
BitDegree has reached all the milestones expected so far, attracting more than 29 million users using the 000webhost and Hostinger platforms. The next major objective is a strong marketing campaign in Q2 2018 in order to bring more publicity amongst students. The rest of the roadmap can be found here.
Additionally, BitDegree have announced a partnership with Ethos, and they have released an introductory course about cryptocurrencies which is available for all the users of the BitDegree platform.
BitDegree won the Moonrise price at the end of 2017 for the innovative idea of bringing education and Blockchain technology together. The platform was chosen out of 9 other projects in the final round.
The ICO started on 1st of December 2017 and will last for 4 weeks, until 1st of January 2018. The team announced on their Twitter account that BitDegree is one of the few ICOs that have been legally approved by national bank of Lithuania.
The conversion rate for this token sale is 1 ETH = 10,000 BDG, with different bonus rates depending on the week when you invested. The total circulating supply is 1,500,000,000 BGD, distributed as follows:
BitDegree comes with a revolutionary idea for online education and with a highly experienced team that is trying to improve the traditional educational system. I believe this is an ICO with great potential if they can deliver the roadmap.