Why did you decide to create your educational program basis on the blockchain technology, and introduce payment by crypto currency instead of fiat money?
While popular platforms around the globe limit the only acceptable payment option to fiat currencies, blockchain technology illustrate that fiat is fundamentally flawed and falls short when compared to tokens in terms of cost, speed and ease of application and global integration. Bringing tokens and distributed ledger/blockchain technology to the world of e-learning, Õpet is proud to introduce its native ERC20 token8, Opet Token (OPET) which is built on the Ethereum blockchain. Opet Token (OPET) is designed to power an ecosystem supporting all education-related expenses, from digital tuition to college admissions, scholarships and philanthropic funding.
That only works if universities and other educational institutions are willing to accept OPET as a form of payment for their services. What's the plan to convince universities to accept crypto?
I do not think that we will have to convince someone. We are already interested in many educational institutions on this stage. However, even if some universities do not want to work with tokens, the token itself retains its usefulness through tuition fees, rewards, sponsorship and scholarships, as well as for any other paid activities that may be introduced in the future.
Ok but if educational institutions are not interested, where is someone going to use your token to pay for tuition fees or anything related to education? Someone must accept this as a means of payment.
Not everyone immediately sees the benefit or convenience. If not all educational institutions, then many will be interested.
How does the token circulate within the economy?
The underlying use cases of the tokens are:
- Universities/External Organisations buy OPET tokens in order to access user data
- Student users (or their parents) can buy OPET tokens to purchase our digital services
- Banks/philanthropies lend/donate money to the user by buying of OPET tokens to give to the donees through the platform. They are able to monitor the progress on the blockchain.
Parties who wish to buy our OPET tokens will do so through the exchanges.
And our OPET tokens will also be used as incentive pool/rewards:
- External validation nodes get rewarded for validating the data
- Users who contribute to the channel get rewarded
[moderator's note: consecutive posts merged]