BitDegree ($BDG) is an ERC20 blockchain-based utility token that offers education through online courses, primarily for web-based professions. BDG was launched in 2017 via ICO and is the first study application using blockchain-based technology. BDG provides students with courses, supported by a reward system and the ability to track and evaluate their progress. Token scholarships, using Ethereum smart contracts (“smart incentives”), are offered to students who successfully complete courses. Positive student performance also attracts organizations in search of tech talent. BDG has a highly experienced founding team and several strong financial partners backing the project. BDG currently offers over 100 courses at no charge (for a limited time). BDG’s stated mission is to provide the best online course offerings and prepare their students to land their dream jobs (1, 2).

 

PROS

  • Strong development and management team
  • Accomplished advisors
  • Token backed and guaranteed by sponsors
  • Eliminates recruitment agencies
  • Socially innovative
  • Sponsor-provided user base
  • Convenient for students
  • Faster than traditional institutional learningLess expensive, less debt

CONS

  • Newly established, early platform development
  • Unproven concept
  • Slow traditional market adoption
  • Lengthly development time
  • Limited contact with instructors

Deeper Dive

It could be argued that our educational system, established at the time of the Industrial Revolution, set standards that are outdated in today’s global economic climate. Our dynamic and connected society is in need of an updated educational model, instead of the outdated current system, where debt can outlive the student. The development team at BitDegree has a solution in the form of MOOCs (Massive Open Online Courses), a rapidly growing online educational concept (1). BDG’s mission is to offer the world’s best online courses, reward their students for achievement, and position the student for finding their dream job. The student can then be identified and hired by the world’s leading IT companies, who will look to BitDegree for the best new talent.

BDG’s initial token sale ICO occurred in December of 2017, as a fair crowdsale, 100% law compliant with Github transparency (1), and quickly hit its goal of 30,000 ETH, or $21,600,000 USD (3). The BDG team consists of a diverse and accomplished group of developers, managers, and advisors led by co-founders. The co-founders, Andrius Putna, Ervinas Rimdeika, and Maurice De Hond, have worked with a variety  of organizations including Coursera, Skydeck, Zendesk, Steve JobsSchool, and others (1).

BDG went live on April 5, 2018, and offers courses on subjects such as web development, programming languages, analytics, AI and data science, game development (especially with Unity), marketing, social media, SEO, and advanced education about cryptocurrencies (1). The integration of gamer theory and techniques (gamification concepts) further motivates the students.

BitDegree uses the “smart incentive system” (an Ethereum smart contract) to reward the student (Incentive Receiver) by receiving tokens from a sponsor (the Incentive Creator) upon the successful completion of a chosen study curriculum (2). These “smart incentives” ensure that the student and the sponsor both meet the course requirements. Sponsors consist of companies such as HitBTC, Ethos, The Bitcoin Foundation, Hostinger, and others (1). Hostinger is a web hosting platform and will accept BDG tokens in exchange for services, effectively guaranteeing the value of the token through provided services. Hostinger also has a foundation of over 29 million users (potential students) in 178 countries worldwide (2).  Utilizing the power of blockchain technology, BitDegree stores transparent records of all achievements made by students in the blockchain’s immutable record system. These records are open to companies seeking to contact students for possible career offers.

BDG Roadmap reveals some ambitious features planned for the future. In addition to developing more courses, BDG is focused on:

  • becoming the world’s best online learning experience
  • issuing first token scholarships
  • smart incentives contract implementation
  • mobile platform integration
  • launching platform for sponsors, and more (5)

BDG, as of April 2018, trades on HitBTC, Cobinhood, Etherdelta, IDEX and others, and can be stored on MyEther Wallet, MetaMask, Mist, Trezor, and Ledger Wallets (4).

BDG offers educational value in the form of learning opportunities, development of marketable skills, and preparation for career entry or advancement. Though BitDegree has some very ambitious goals, it separates itself from other early blockchain projects in that it already has a real, working product.

 

BDG on social media: and communication:
https://www.reddit.com/r/BitDegree/
https://twitter.com/bitdegree_org?lang=en
https://www.facebook.com/bitdegree.org/
https://bitcointalk.org/index.php?topic=2214321
https://www.instagram.com/bitdegree/
https://t.me/bitdegree
https://www.youtube.com/channel/UCuiGDksOmsM8y-_txG3wPYg
https://plus.google.com/110814279523303881186

Additional BDG Resources:
https://github.com/bitdegree
https://www.slideshare.net/AbhishekSood10/bitdegree-white-paper (white paper)
https://coincheckup.com/coins/bdg/purpose

Sources:
(1) https://www.bitdegree.org/
(2) https://medium.com/@tokenupdates/top-5-reasons-to-participate-in-the-bitdegree-ico-6eef76bb2ad1
(3)  https://icodrops.com/bitdegree/
(4)  https://coinclarity.com/coin/bdg/
(5)  https://www.bitdegree.org/en/token/#roadmap

 

If you would like to talk about BDG, or any other cryptocurrencies, join us on our discord! https://discord.gg/Hr3EUH9

 

Contributed by Richard Houser.