Code of Talent, the Romanian startup, has incepted "the world's first skill-based education blockchain platform" that integrates token incentives, mini-lectures, and direct communication between all of its users whether they are an educator or a learner. The company's mission is to provide access to education at no cost for those interested in progressing their careers, and to aid future generations in acquiring necessary skills for entering their industry of choice.
In 2017, HarvardX and MITx reported that only 5.5 percent of people who enroll in their open online courses complete the classes. Other more optimistic studies looking at the MOOC industry overall list a completion rate of around 6 percent. Companies around the world complain that their traditional training system, with both on-site learning options as well as online courses, is just not producing the expected results. Students complain it's hard to keep up with the volume of information, and overall feel less engaged when learning by themselves in front of their computers. Employers still struggle to find the skill they need. At such rates, it seems the e-learning system is failing at keeping learners engaged and breaks its promise of revolutionizing education and training worldwide.
Enter microlearning, blockchain, token incentives, and a unique concept that puts efficiency back in the education process.
Code of Talent developed the world's first skill-based education blockchain platform integrating short lectures, token incentives, as well as direct interaction between instructors, learners, and employers from around the world. The company's goal is to give free access to education for anyone interested in their career progress as well as train generations for actual skills required by industries.
With Code of Talent, students and teachers exchange information and feedback in short 10-minute sessions with up to 40 participants. The "classroom" feel enhances motivation and engagement and helps learners learn not just from instructors but from one another. In addition, students earn CODE tokens as they progress, thus becoming part of the bigger Code of Talent mission.
"Code of Talent uses a microlearning engine proven to increase the rate of student progress by 300 percent, by matching the brain's working memory and attention span with three to 10 minute chunks of information," says Bogdan Ciubotaru, chief executive officer of Code of Talent.
Code of Talent also brings back competition in a traditional rigid field such is education. On Code of Talent, instructors are rewarded based on the feedback and ratings they get from students, thus encouraging them to stay up-to-date with the latest labor market requirements and student needs.
"Our system goes against traditional academia, where classes take too much time to change or be incorporated, and educators are convinced that no matter how slow they are in keeping up with the trends they will simply not be touched by changes themselves," says Ciubotaru. "What we envision is instructors becoming true influencers, with the best one teaching the most sought-after courses."
Code of Talent is also of great benefit to employers who wish to access better qualified workforce. As part of the blockchain structure, companies seeking labor can see the public ledger of skills from all participants and choose those that best fit their needs. Instructors and employers are also in touch to best adapt the training to the market demands that projects 375 million people will need to change occupational categories by 2030.
"There is a huge demand for skilled human resources and recruiters face this challenge of having to select the best candidates based on how impressive their resumes look rather than what they know those candidates can actually do," Ciubotaru says. "Our platform stores the learner's accomplishments on the blockchain making it immutable so that everyone interested can see what their acquired skills are. Thus the platform enables employers to look for and select those best performers according to their skills, also making the recruiting process straightforward and transparent."
SOURCE Code of Talent
Edited by K. Fanning
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