ODEM brought in €2.2 million in its Initial Coin Offering (ICO), surpassing its own target. The company’s education marketplace aspires to become “the Airbnb of international education”.
Unlike online education providers, ODEM specializes in developing courses and programmes that are personally supervised. Users can offer courses themselves or take courses from others. Everything is coordinated via blockchain technology with the aim of allowing students to design and control their own education.
“Our ultimate vision is to ensure that every student has equal access to higher-quality education,” said CEO Richard Maaghul in an earlier statement. “The ODEM platform will change education as we now know it.”
ODEM will use the new funds to advance development of the beta version of its marketplace, which it hopes to launch in July 2018.
“We have the team and resources to show the world that we can use blockchain technology to transform the international education sector in a positive way,” said Maaghul.
ODEM is collaborating on its platform with the U.S. education company Excelorators Inc., which already works with more than 200 professors and lecturers. ODEM anticipates that these will be among the first users of the marketplace.