The ODEM Token
The ODEM Token (ODE) serves as the global, blockchain-enabled payment method that powers the ODEM Marketplace. It is key to removing barriers in education and employment, making them more accessible and affordable for all. The token powers ODEM in the following ways, it:
- Facilitates cross-border payments that are transparent and secure, allowing for faster and more reliable transactions for students, educators and employers alike.
- Opens up educational opportunities to millions of people worldwide, regardless of banking, currency or country restrictions.
- Allows for faster, more secure and reliable interaction with smart contracts to verify credentials and educational and employment transactions.
How It Works
The ODEM Token (ODE) serves as the key to the ODEM Marketplace, opening access to ODEM’s education and employment programs. Unlike any other marketplace, the use of ODE allows ODEM to reduce fees, increase efficiency and improve security in a transparent, global exchange.
- Staking: Students place a stake (small deposit) of ODE into a smart contract to reserve their place on a course. Educators also place a stake of ODE to teach their educational programs. The process of staking allows ODEM and the educator to assess the levels of student interest in a particular topic before actually creating the program. If a participant backs out, their stake is forfeited.
- Certificate Issuance: Every time a student is issued a digital credential on ODEM, a transaction is registered on the Ethereum blockchain, requiring ODE.
- Data Sharing Revenue: Users receive a payment every time their skills or credentials are viewed on ODEM. ODE traces that transaction and ensures all data viewing is permissioned, verifiable, and rewarded.
All transactions in the ODEM Marketplace are completed using ODE, such as when a student directly pays the educator upon completion of a course. Due to current international regulation and adoption limitations, fiat payments are accepted for all ODEM services.
To reflect the fiat payment, ODEM uses a unique token transaction mirroring method through ODEM smart contracts. Every time a fiat transaction is executed on the ODEM Marketplace, a corresponding ODE transaction is executed on the open cryptocurrency market. As we see more adoption and a relaxing regulatory climate, ODEM’s payment systems will be accepting ODE directly.
A Robust Token by Design
- ODE is designed to be robust and versatile in its use.
- ODE always maintains a practical use in the ODEM Marketplace.
As more ODEM Marketplace participants use ODE, the use of the token will increase in its smart contract mechanisms. This will be through certificate creation, program purchasing, and data sharing, increasing the value of the ODEM Marketplace and the volume of tokens in use.
- As an ERC-20 token (or Ethereum-based asset), ODE can be held and bought in most ERC-20-compatible wallets and sold in multiple exchanges.
Enjoy the Early-Adopter Advantage
- ODE is an established token that is already demonstrating full utility. Realize the benefits of being an early adopter in a token set to transform education and employment.
- Transactions on the ODEM Marketplace will be visible and reflected on the open market. Users who purchase ODEM’s educational programs can view their ODE transactions on the Ethereum blockchain.
- Be a part of the movement and well-positioned as ODE becomes available in more jurisdictions. Be a part of driving the value and vision of ODEM.