Review of ICO BitDegree

WHAT IS BITDEGREE

BitDegree is the world's first online educational platform based on the blockbuster and smart incentive system, which will lead to the evolution of the global education system, and will greatly simplify and reduce the cost of hiring / hiring talents in the field of high technology.

The BitDegree platform will provide students with the best online courses with a simple and transparent award-winning awards system and tracking achievements. It is also a unique tool for business, allowing you to hire technology specialists and form a global education system for your needs.

State employment centers will be able to track the need for skills without recourse to scrupulous collection of reports from enterprises, and also help unemployed citizens by subsidizing training in demanded skills. BitDegree can be imagined as a platform that brings together Coursera and HackerRank, which is based on blocking technology.

In this case, the use of blocking hardware will not be sensitive to long periods of waiting before the transaction is completed, therefore, the overall cost of the platform to use the Ethereum network for transactions and the inevitable costs of the need for data storage will be very low.

BitDegree also uses the Octalysis framework for game design to make the learning process as exciting as the game in Minecraft.

WHAT PROBLEMS SOLVES BITDEGREE

Problem:

• Lack of technical specialists that is global in nature.
• The high price of education and the lack of incentives results in a decrease in motivation to continue studying.
• Long-term incentives are an indefinite promise of future employment. However, educational institutions rarely analyze and relate business needs to their curricula.
• The gap between the needs of the employer and the knowledge of students.
• Universities and higher education institutions everywhere fail to cope with their task - to teach students what business needs.

Decision

The smart incentive system has many useful qualities and provides solutions to some of the problems that we already know:

• Signs about demand for certain topics / skills;
• Offers small awards for small achievements and supports students' interest;
• Records all student achievements;
• Provides a transparent report on how sponsorship money was spent;
• Can offer rewards for the creators of course materials;
• Can offer rewards for people assessing the student's progress.
• Corrects the education system.

One way to raise the motivation of students is to use igrofication in the educational process. A large number of small incentives make learning more interesting, and the use of games in the educational process attracts students and supports their interest throughout the process.

Igrofication can solve problems that arise from a lack of concentration and help to absorb new information more effectively. Studies have shown that reading does not absorb more than 20% of information compared to 90% of percentages when using gaming.

MAIN PURPOSE OF BITDEGREE

The main purpose of the BitDegree platform is to provide students with the opportunity to acquire skills that are currently in demand and are needed in the labor market.

BitDegree will directly link promotions to students with anyone who wants them to become specialists in the digital economy - such as current or potential employers, digital service providers or sponsors.

HOW DOES BITDEGREE WORK

Companies wishing to introduce people to new technologies or services will provide financial incentives to students who want to spend time studying and using the company's products.

By providing incentives, any company clearly signals the demand for certain qualifications or informs about the knowledge and skills necessary for the effective use of new technologies / products / services. People who are looking for new opportunities will study new technologies, develop popular, practical skills and get to know the existing technological solutions provided by their suppliers

Applicants will be enrolled in subsidized courses to gain more knowledge and develop skills on the chosen technology topic. Course materials and the learning process will be made interactive and attractive, following the proven methods of gaming.

Students will be able to communicate with other students and mentors, ask questions and seek more detailed explanations. All course material and progress assessment will be divided into small parts to stimulate short-term efforts in the reward cycle. In addition to the subsidized training materials, each student demonstrating success in learning will be rewarded with platform tokens.

Companies providing incentives will be able to contact students enrolled in a subsidized course and offer jobs for budding performers. Companies that agree to accept tokens for services will allow students to apply the acquired skills in practice using commercial services.

Students will also be able to exchange tokens at exchange sites. The BitDegree platform will record the progress of each student and provide students with the opportunity to prove that they are successful in developing and applying skills to solve problems. BitDegree will rely on the Ethereum platform to create a reward system and store the data of all the achievements made in the learning process by the students.

A smart incentive system is an Ethereum-based smart contract that provides the exchange of values ​​(tokens) between the promoter (sponsor) and the recipient of the promotion (student).

The recipient of the promotion undertakes to make efforts aimed at learning in order to receive encouragement (tokens). The guarantee of the smart incentive system is the BitDegree platform, which will represent the confirmation of research efforts.

Any company (potential employer or service provider / technology), state institution (school, employment center or prison) and even an ordinary citizen can become the creator of incentives. Smart promotions will be created by the Creators of the Promotions, which will provide the sponsorship amount and determine the maximum number of applications, the date and time of enrollment and closing, and how long the incentives will remain available for enrolled students.

The Creator of the Promotions will be able to adjust the requirements for the candidates, the availability and the intensity of the promotion for the selected country or even the area, for example Tampa, Florida, USA. Receiving promotions will be able to see a list of courses available to them in their region based on the history of the courses they have passed.

All interaction of students with smart incentives will leave their mark in the detachment. A smart contract will guarantee the payment of incentives. The use of tokens will make it possible to use the system of economic incentives for any student in the world, which is impossible with the use of ordinary money due to large transaction costs.

The BitDegree platform will provide evidence of research efforts for all courses on the platform. Several familiar verification mechanisms will be introduced, such as tests, situations and problem solving, creative tasks, and many others. Most of the verification mechanisms will be automated. In the future, for certain types of research efforts, the BitDegree platform will open up functionality for third-party proxies that will evaluate research efforts and be stimulated to meet the quality of service requirements.

The incentives for third-party verification personnel will be based on feedback from the creators of the rewards on the quality of the audit. The work to verify the research effort will be offset by a small part of the Promotions (tokens). The definition of research efforts and the revitalization (preparation and launch of courses for student learning) will also be rewarded with a portion of the Promotions (tokens).

ADVANTAGES OF BITDEGREE

The BitDegree version 1 platform provides the solution to most of our tasks:

• It will balance the benefits of business and the student;
• It will allow the business to introduce students to their proposals;
• It will provide an opportunity to continuously train people who wish to receive new knowledge and skills;
• It will reduce the costs of knowledge sharing and assessment of skills / knowledge;
• It will help motivate students to continue studying and will stimulate movement forward.

The main advantage for the incentive providers will be the opportunity to establish a dialogue with future talents and reward them for achievements with the help of a smart incentive system. Smart promotions on the BitDegree platform will vary in size, depend on the local market and the topics for which they are issued. From the perspective of the student, this means getting paid for training new skills that are in demand in the local market. This is also a great opportunity to get a promising job.

TERMS OF ICO

Smart Contract is open source and is available to everyone in Github. There are no hidden rules or conditions. Participants will be able to receive their tokens immediately after payment. The pool of team tokens, advisors and funds will be blocked for a certain period of time to build trust.

Token Token: BDG

Exchange rate: 1 ETH = 10,000 BDG

Minimum funding: 550 ETH

Maximum funding: 30,000 ETH

Total number of tokens: 660,000,000

Accepted currency: ETH (all other - via Tokenlot)

COMMAND

The team consists of multidisciplinary specialists who worked with each other in various fields. Most of the team worked on a project that reached millions of users and faced the need to train them, others have experience of educational initiatives that can be directly applied to the BitDegree project.

Andrius Putna

CEO, co-founder, 11 years in software engineering. The person who stands behind the success of 000webhost is the world's first and the largest free cloud hosting platform for learning, testing and experimentation. The architect of Hostinger products.

Danielius Stasiulis

Head of the Department of Startups in Civitta (7 years) - the leading consulting firm in Eastern Europe. Advised over 300+ startups and worked with many of them, including Berkeley Skydeck in Silicon Valley. Works on ICO and business model based on the blockbuster.

Ervinas Rimdeika

CLO, co-founder. Ervinas is a fan of FinTech and has extensive experience in related fields on corporate and intellectual property issues, as well as business operations. He not only worked in several well-known law firms, but also in one of the largest companies in Lithuania and the Baltic countries. In previous years, Ervinas Rimdeika was a member of one of the fastest growing FinTech start-ups in the Baltics and achieved impressive results. Clients and colleagues especially appreciate Ervinas Rimdeika for deep legal knowledge, critical and strategic thinking, in-depth problem analysis, and a rational approach.

Rio Asatiani

CMO, co-founder. With more than 14 years of experience in attracting customers, working with new brands and start-ups, Rio is the guru of Growth Hacking and the Certified Partner of Google, which led 000webhost and Hostinger to international success in more than 40 countries, attracting 29 million new users. He joined the BitDegree project, having his own vision in innovative acquisition channels and a solid experience in growth hacking. Rio ensures BitDegree's success at the international level.

Darius Rugevičius

A partner in the Investment Fund of Prime Block Capital Darius has the experience of creating a successful business based on high technologies, selling two of its previous start-ups only for the last 4 years. Using his skills to implement effective marketing strategies, promote performance and meet deadlines, he helped to achieve success for companies working in blockbuster, fintech, robotics and biotechnology sectors.

And others

More detailed information about the project you can find here:

Website: https://www.bitdegree.org/en/token#top

Twitter: https://twitter.com/bitdegree_org

Telegram: https://t.me/bitdegree

White Paper: https://www.bitdegree.org/white-paper-ru.pdf

AUTHOR OF THE ARTICLE

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I'm not a project manager. This article is written on the basis of information taken from official sources with the purpose of acquainting everyone interested in this project.