The ODEM Token’s (ODE) key to success is to provide open access to ODEM’s education and employment programs globally and allow micropayments and program staking. The use of ODE allows ODEM to reduce fees, increase efficiency and improve security in a transparent, global exchange.
Students stake ODE into a smart contract to reserve their course. Educators stake ODE to show commitment when adding their programs to the network. Staking allows ODEM and educators to assess student interest in a program before actually committing resources to conduct it. If a participant backs out once the minimum number of students have committed, their stake is forfeited.
Every time a student is issued a digital credential on ODEM, a transaction is registered on the Ethereum blockchain. ODE can be released upon completion. Generation of digital credentials incentivize students to complete courses.
Data Sharing Revenue
Users receive a share of revenue every time their skills or credentials are viewed on ODEM by paid subscribers. ODE uses smart contracts, AI and machine learning to trace viewing of all permissioned transactions.
ODE serves as the global, blockchain-enabled payment method that powers the ODEM Marketplace. It is key to make education and employment more accessible and affordable for all. ODE:
- Facilitates cross-border payments that are transparent and secure, allowing for faster and more reliable transactions for students, educators and employers.
- Opens up educational opportunities to millions of people worldwide, regardless of banking, currency or country restrictions.
- Allows for faster, more secure and reliable smart contract interaction to verify credentials and educational and employment transactions.
The ODEM architecture has been created to eventually allow all transactions in the ODEM Marketplace to be executed. This includes when payment is issued via smart contract from students to the educator upon course completion. While ODEM prepares these processes to meet current international regulation, fiat payments are accepted for all ODEM services.
ODEM has created a unique token transaction mirroring method through its smart contracts to reflect fiat payment. Fiat transactions executed on the ODEM Marketplace can have a corresponding mirrored ODE transaction executed on the open cryptocurrency market. As we see more global adoption, ODEM’s payment systems will accept ODE directly for all approved use cases.
A Robust Token by Design
- ODE is designed to be robust and versatile in its use.
- ODE always maintains a practical use in the ODEM Marketplace.
- As more ODEM Marketplace participants use ODE, the token use will increase in its smart contract mechanisms. This will be through program staking, certificate creation, program purchasing and data sharing, which will increase the value of the ODEM Marketplace and token volume in use.
- As an ERC-20 token (or Ethereum-based asset), ODE can be held and bought in most ERC-20-compatible wallets and sold in multiple exchanges.
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