Open Source University is a new learning platform powered by customized smart contracts. It maintains the record of all the learners’ certificates and verifies them on the Blockchain by making them accessible and immutable to both businesses and students. This is set to completely revolutionize the education industry.
These smart contracts re going to bring flexibility, security, and transparency to education. Moreover, learners will receive numerous benefits from taking courses on this platform. The ecosystem of the Open Source University has EDU tokens that are used to establish connections between academia, learners, and businesses. There are some restrictions, for example the owners of these tokens are not entitled to revenue sharing Moreover, the token owners cannot exercise any voting rights. Additionally, the holder of these tokens cannot receive any dividend and the tokens can’t be bought back.
Businesses can upload courses for free. Students have various options to pay for the courses, including fiat currency, cryptocurrency, or even the EDU token. When the student chooses to pay via EDU, he or she gets a prefered rate as opposed to other forms of payment.
Once the learners are enrolled in a particular course or a pathway of learning, all the data regarding the progress and expertise will be recorded on Blockchain. This will simplify the process for businesses in recruiting the appropriate candidate.
The number of students is expected to gradually increase with the increase in degrees and courses that are offered on the platform.
The security of sensitive information and tokens is the first priority of Open Source University. This university performs security audits in three steps. In the initial step, a comprehensive internal testing for the information security vulnerabilities takes place.
In the second step, all the new upgrades and versions of the contracts are tested. It is important for the creators of the smart contracts to be more focused on the security as compared to the counterparts of traditional software. If you are interested to know more about the Open Source University, then read its whitepaper.