Despite its setbacks, education is still one of the world’s single largest industries, making up more than 6% of Gross Domestic Product. Stakeholders in global education and training can project an influx of $7.3T earnings from governments, companies and consumers in a 5-year span of steady growth. In a blockchain-based educational ecosystem, this would be the case.
Annual spending on blockchain solutions will reach nearly $39.7B by 2025 as more industries are exploring use cases of a decentralized platform requiring no central supervision, making it resistant to fraud. With the advent of altcoins and smart contracts, people need secure cryptocurrency transactions alongside these booming industries. In response, several cryptocurrency services are exploring ways to meet this demand.
With the partnership, Forward Protocol and English Forward’s transactions are safer with ethbox. These benefits are shared with the ecosystem of teachers, students, parents, and broader communities, thus pushing forward EdTech development advocated by the World Bank:
The use of EdTech should be guided by a clear purpose and focus on educational objectives; reach all learners; empower teachers; engage an ecosystem of partners; and rigorously and routinely use data to learn what strategies, policies and programs are effective to maximize student learning.
Blockchain decentralized platforms implemented
English Forward is the largest English learning community on the planet with over 300 million community members worldwide. However, because it is so large, and not filled with a blockchain-familiar audience, this community needs assistance in making crypto-transactions safer as Forward Protocol is deployed.
- 310 Million unique visitors served, with zero ad budget (100% organic)
- International traffic – primarily Asia, in 240 countries
- 2.4 Million questions + answers on the site
- Up to 5 Million unique visits a month (Peak traffic)
- Quarter Million registered users
English Forward has enjoyed a very robust and thriving community, supported by various organizations (especially UNICEF and WHO) and their associated affiliates (such as WePROTECT global alliance, International Telecommunication Union, and UNESCO the Global Partnership to End Violence Against Children).
To make life easier for its community members, English Forward will be implementing a blockchain-based educational ecosystem, one that will bring institutes and individuals into a decentralized educational ecosystem that will guarantee seamless transactions through ethbox.
What does this incredible synergistic partnership mean?
To quote the CEO of English Forward, Mitch Rankin:
With the recent face-to-face engagement restrictions imposed by the pandemic, consciousness about the necessity of developing English skills is surging. English Forward is at the cutting edge of supplying this need.
The recent pandemic has shown people worldwide that they need a remote educational resource. The effectiveness and potential implications of blockchain have proven world-shaking so far. Both unique situations have left a niche open, one that calls for an environment where students can learn and earn at the same time. .
English Forward will also incorporate a peer-to-peer marketplace and increase the efficiency of tutors, maintaining both a job board for English language-based tasks and the token economy in which it would thrive.
ethbox, a new kind of financial safety
One solution to the need for security is ethbox, a service that uses the two-factor authentication method to guarantee the security and safety of cryptocurrency transfers. To achieve the security level desired, ethbox authenticates the address of the recipient, along with a designated, secure passphrase. The two-factor authentication helps users retrieve cryptocurrency sent to the wrong address.
Ever since ethbox made its debut on the cryptocurrency scene, it has enjoyed constant growth in value and success on the market.
This success did not come randomly–ethbox has initiated several mechanisms into its coin $EBOX to ensure its steady growth. As a result, DUCK-promoted tokens have been increasing in value steadily.
ethbox will be based on the DAO (Decentralized Autonomous Organization) system. Because its governance is autonomous, ethbox is free from market manipulations, creating a decentralized system that allows the users to vote and be a part of the decision-making processes involved in ethbox.
English Forward in position for upskilling an additional 2 billion more learners between now and 2050
By 2050, there will be 2 billion more school, college, university and alternative post-secondary graduates in the world than today, driven primarily by greater participation and population growth. How will current models of education deliver access at the scale, quality and speed required?
English Forward has moved ahead and adopted EdTech, or Educational technology, a rapidly-growing field of technology. Educational institutes, instructional videos, audiotapes, and eBooks are just a few items that are being gradually implemented through integration.
It is no surprise that EdTech has become a thriving field as more prominent names in education adopt various technologies. More and more educational institutes are readily adopting blockchain technology, either as a payment or teaching method. Also, cryptocurrency usage has been on the rise in EdTech over the years.
English Forward hopes that this educational ecosystem–the first of its kind–would spur motivation and gratification in students and tutors alike. In an educational environment where technology is quickly developing, both mentors and learners (English Forward’s terms) will have access to the skills and tools they need for academic excellence and a brighter future.