As explained in our educational article “Differences Between Protocol Blockchain and App Blockchain Companies”, LiveEdu is by default, like 99% of companies running an ICO an app blockchain company. We are building our blockchain smart contract technology on top of an existing blockchain, namely Ethereum, using ERC20 tokenization mechanics. LiveEdu is using similar blockchain smart contract mechanics to what Steemit uses. We are building for the online education market what Steemit built for online publishing. We use EDU blockchain smart contracts in our network for payments and rewards. In about three years, after we have fully built out our external ecosystem, we will build our own protocol blockchain and migrate from the ethereum protocol.
The LiveEdu ecosystem consists of two networks, namely the internal ecosystem and the external ecosystem. The internal ecosystem participants are project creators (content creators), viewers (learners), community moderators, project quality moderators, and LiveEdu API application developers. The external ecosystem participants are businesses, schools, libraries, colleges and other online education companies.
The LiveEdu network is a classic model that is highly suitable for blockchain smart contract tokenization. The blockchain will decentralize key content, product and project development decisions that are made on both the supply and demand side. Tokenization will help LiveEdu build its network faster on both sides:
Supply side
- LiveEdu does not create content itself, but provides a peer-to-peer project network that connects streamers to viewers from the whole world.
- We plan to use tokenization as a key approach to solve our chicken-and-egg marketplace problem by incentivizing early project creators with a mix of EDU tokens and cash.
- Tokenization will enable LiveEdu to bind content creators because, they will have a shared interest in the long-term value appreciation of EDU tokens.
- We plan to use investors in the ICO, who have subject matter domain expertise, to create projects. Therefore we see the ICO as a way to build deep relationships with potential project creators.
Demand side
- The success of LiveEdu will depend on creating content that viewers want to watch. So far, streamers have decided which projects to create, frequently deviating from what viewers want to watch. Tokenization will empower viewers as token holders to submit projects or vote on projects. This will transform LiveEdu from a supply-side-driven marketplace to a demand one.
- Tokenization will enable LiveEdu to launch a native payment currency that is deeply embedded into the product and used for all payment transactions.
- Tokenization will enable LiveEdu to reward site supporters, moderators and API ecosystem developers, using EDU tokens without spending any fiat upfront, which reduces business risk.
Dr. Michael J. Garbade I, Dr. Michael J. Garbade is the co-founder of the Education Ecosystem (aka LiveEdu), ex-Amazon, GE, Rebate Networks, Y-combinator. Python, Django, and DevOps Engineer. Serial Entrepreneur. Experienced in raising venture funding.
I speak English and German as mother tongues. I have a Masters in Business Administration and Physics, and a Ph.D. in Venture Capital Financing. Currently, I am the Project Lead on the community project -Nationalcoronalvirus Hotline
I write subject matter expert technical and business articles in leading blogs like Opensource.com, Dzone.com, Cybrary, Businessinsider, Entrepreneur.com, TechinAsia, Coindesk, and Cointelegraph. I am a frequent speaker and panelist at tech and blockchain conferences around the globe. I serve as a start-up mentor at Axel Springer Accelerator, NY Edtech Accelerator, Seedstars, and Learnlaunch Accelerator. I love hackathons and often serve as a technical judge on hackathon panels.
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Hey, nice article. Can these tokens be used as securities?
No. Based on legal advice and opinions we gathered during the preparation process, EDU tokens would not be deemed as securities by SEC based on the famous Howey test.
Nice vision, migration from Ethereum protocol and being independent. Role model as always.
Interesting info. I believe LiveEdu ICO will help them meet their goal in their demand and supply side of the company.
Not a doubt, this project is top rated as it the first online learning platform that is applying what steemit built for online publishing. I am happy to be part of the online learning platform that is using ERC20 tokenization mechanics.