Utilizing the Power of Blockchain in the Education Sector
Press Contact: Steve Conley Website: www.EDUFINCHAIN.io Email Address: firstname.lastname@example.org Phone: 314-337-8468
St. Louis, MO. July 27, 2017. Blockchain Technology is entering the education sector, and aims to broaden awareness and participation in STEM disciplines from K-12 through higher education.
Challenges facing current and future developments in K-12 and higher education have caused a need for visionary strategies to be developed by these institution leaders. The National Assessment of Educational Progress (NAEP, or nation’s report card) in its 2015 Assessment found that only about a third of U.S. high school seniors are prepared for college-level coursework in math and reading. And while the performance of the country’s highest achievers is increasing in reading, the lowest-achieving students are performing worse than ever.
The Center on Budget and Policy Priorities reported in 2016 that years of cuts in state funding for public colleges and universities have driven up tuition and harmed students’ educational experiences by forcing faculty reductions, fewer course offerings, and campus closings. These choices have made college less affordable and less accessible for students who need degrees to succeed in today’s economy.
The confluence of these and other challenges is already creating problems in the U.S. ability to produce sufficient American workers to meet the needs of 21st century jobs. A 2016 U.S. News/Raytheon STEM Index Analysis shows that the U.S. will be dependent on foreign workers to fill future STEM jobs. This situation presents a double whammy, as it impacts the U.S. dependence on other than its citizens for future R&D and its citizens will not be prepared for the bulk of new job creation and their commensurate salaries.
EDU FIN CHAIN aims to change this trajectory. It is a decentralized autonomous financial platform designed to convert and distribute financial value more securely and effectively, all while making academia funding accessible to a more diverse learning body that includes K-12 and higher education. The EDU FIN CHAIN platform is built on top of a peer to peer ecosystem used to create and exchange funding assets freely; powered and denominated by pre-paid tokenized licenses. The EDU FIN CHAIN platform is what enables the fungibility to happen between the native tokenized license (SET) and the newly created funding asset (SEA). This process happens while securely interacting with software and propagating back to the Blockchain.
EDU FIN CHAIN core objectives. Throughout the life of this platform the EDU FIN CHAIN Foundation will work to build on better autonomous algorithms and processes to achieve the following: (1) Explore new consensus methods for evaluating and comparing fair practice for education financial aid disbursements using Blockchain; (2) Develop new tools on the Blockchain to enable government, advocates and policymakers to address more effective and fair funding disbursement methods; (3) Create strategic partnerships to enhance user experience and adoptability; and (4) Continue to build, strengthen and secure our network with processes and transparent partnership alliances.
EDU FIN CHAIN utilizes Tokenized Licenses called a SET (Sustainable Education Token) to convert value into funding assets known as (SEA’s) Sustainable Education Asset. These tokens provide computational ability to the network and identify the holders as authorized users of the platform; simultaneously allowing them to transceive created assets on the platform. SETs will be offered through our early adopters program and later thru strategic partner programs.
SEA’s powered by SET can be used in a wide range of activities related to education. These things can include but not limited to the following:
- Tuition payments
- Funding Book expenses
- Fees for educational services
- Private fees such as tutoring costs
- Funding community led educational programs
- Early development program funding
- Transparent Donations
- Enforceable distribution method for financial aid and donations