09-23 Blockchain MIC
The education industry has always been one of the industries with the greatest growth potential, and in this era dominated by the Internet, the traditional offline education industry is also facing huge challenges and pressures just like catering, finance, and e-commerce. According to the survey, there are hundreds of thousands of domestic education and training institutions, but 95% of them have revenues below 10 million yuan, which shows that competition is fierce in the industry.
Especially affected by the pandemic, many offline education institutions are facing financial difficulties caused by loss of students, lack of teachers, high rental costs, and competition from online education. Compared with traditional offline education, online education is able to resolve issues such as geographic restrictions, insufficient teachers, enrollment problems, and high expenditure costs.
However, while the current environment has presented many excellent opportunities for the online education industry, it has also highlighted many problems that have long been latent in online education, such as information fraud, copyright theft, and plagiarism. Blockchain technology, which has the characteristics of openness, transparency and immutability, can solve many of these problems.
Online education solves offline issues
Many educational institutions have long neglected the importance of keeping teaching plans, class materials, teaching records and other teaching data; as such, high-quality teaching content cannot be replicated and shared. This is one of the issues facing offline education. There are a lot of complex teaching resources, and these resources 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.
Through online education, teachers' resources such as scientific papers and research, or even an ordinary teaching plan, can be safely stored in the server. This solves the problem of preserving teaching resources. At the same time, it gives teachers more management and control rights of learning resources, which also makes it easier for future distribution.
In addition, the difficulty of enrolling students and the high cost of acquisition have made it difficult for every offline education and training institution to overcome. The enrollment model of handing out flyers, from printing to human resources, is expensive. Before recruiting a student, a lot of money has already been sunk.
Based on the online education social network that connects everyone, offline education and training institutions can launch different online teaching content that directly meet the learning needs of different users. Users can purchase their own teaching content to achieve their own educational goal. This is a win-win for both the company providing the resources and the learner, thus effectively solving the issue of traditional offline education and training institutions.
How does blockchain bring reforms to online education?
Research shows that users in the online education market are predicted to reach RMB 23.5 billion in 2020. But this exponential growth also comes with its fair share of problems. For example, the low threshold requirements have led to uneven distribution of original content; this directly affects teachers’ income. Only a few teachers that are considered the “best” will be able to generate high income, yet other original content creators will only receive basic income.
The MIC blockchain online education platform is the world's first online education platform with decentralization, consensus mechanism, traceability and high trust combined with blockchain technology. The MIC ecosystem is a complete value system composed of consumers, providers, communicators, and supporters (such as suppliers of teaching companies).
The blockchain protocol will allow content producers to avoid distributing profits through centralized platform channels. In doing so, the online education system will be fairer and can inspire content producers to produce better educational resources of higher quality. In turn, teachers will have ample educational resources to carry out teaching and can also publish their own original works to reap the benefits.
Blockchain technology empowers information security
Furthermore, another important reform that the blockchain has given to online education is the authenticity of student status and academic information certification. Using blockchain technology, each student’s status and education information entered in the MIC blockchain system will be verified, and a time stamp certification mechanism will also be added to ensure that each student status information is true and cannot be tampered with.
Due to the distributed nature of the blockchain, there will be no situations in which student status and education information may be stolen or lost like we have seen in online servers. At the same time, due to the decentralized characteristics of the blockchain, the leakage and reselling of academic qualifications and student status information are also avoided, ensuring data security.
Blockchain technology has proven to be a technological breakthrough that will reform and empower many industries. When blockchain meets online education, the education industry is bound to set off a new revolution.
As the world's first blockchain online education project, MIC will promote the reform of the education system by creating a new education environment, providing users all over the world with online education services, and evaluating teachers and teaching quality. Together, MIC will accelerate the evolution of the education system.