How can Web3 make Education more Equitable, Efficient, and Personalized?
During the pandemic, the edtech sector was highly anticipated. It was a welcome disruption in the country’s education sector, which has long been in need of reform. The thrill, however, did not last long.
After the pandemic, edtech was in trouble for a variety of reasons. However, the possibilities it provides remain limitless. Indeed, with newer technologies rapidly emerging, education is undergoing yet another transformation.
Web3, or decentralized internet, is one such technology that promises to transform education.
If Web1 was read-only and Web2 was read and write, Web3 is read, write, and own.
Decentralisation is central to Web3. In other words, Web 3, which is based on blockchain technology, validates itself. In the Web3 paradigm, central authorities such as universities and schools will become obsolete.
Decentralised education, according to Ravi Chamria, cofounder and CEO of blockchain infra-automation platform Zeeve, is a system that is more collaborative, efficient, personalized, inclusive, and adheres to data privacy.
Today, not everyone has equal access to education. Access to education is hampered by a lack of infrastructure, insufficient funding, and high costs, among other factors. Teaching at a fixed location (schools and colleges) and time is also disincentive. Web3 is especially significant in this context because it democratizes access to education.
“An open platform that can be accessed for little or no cost, at any time and from anywhere,” said Arun Chinnachamy, Chief Technology Officer at edtech startup BrightCHAMPS.
Online education via videos and other tools has been successful in disseminating learning methods. YouTube is an excellent example. It’s a welcome change. It freed learning from the constraints of time and place. The courses can be completed at one’s own pace from anywhere in the world.
On the other hand, such platforms are also centralized.
“The completion rate for online courses is around 15% on average.” In addition, if someone wishes to transfer credits to their traditional educational institutions, the curriculum must adhere to the prescribed learning path from traditional education,” Chamria stated.
Learners in a decentralized method, on the other hand, will have the freedom to choose personalized study paths.
“Instead of attending universities, students can join any role-specific DAO (decentralized autonomous organization), such as developer DAO for learning to code, metrics DAO for blockchain analytics, vector DAO for learning to design, and so on,” Chamria explained.
Web3 will provide learners with digital wallets that can store verifiable credentials from traditional institutions, internships, open-source projects, and so on. According to Chamria, while blockchain will provide proof of skill, learners will own their credentials and control access to them.
According to Chinnachamy, the adoption of newer technologies can actually help move education beyond the brick-and-mortar model. It can help you save money on things like books, uniforms, and bags. According to him, the cost reduction will allow students from less privileged backgrounds to access quality education.
How Can Web3 Rediscover the Learning Process?
Traditional pedagogical techniques dominate education today. It is centered on the teacher, and the method is textbook-based. The current system is far from satisfactory, suffering from a variety of flaws, including high costs, uneven access, insufficient funding, poor infrastructure, and a lack of uniformity, to name a few.
Web3 reinvents the learning experience. Web3 has the potential to positively impact every aspect of education and learning, from primary and secondary education to girls’ education, literacy levels, and technological skilling. The opportunities are endless. With the proper government support, next-generation internet can completely transform the learning process.
Girls’ education may exemplify the current limitations and opportunities in Web3. According to Aparna Acharekar of Coto, a Web3 social community platform created by women for women, the biggest barrier to girls’ education has been a lack of access.
She emphasized that decentralisation and Web3 have the potential to open up entire formal education systems. “It contributes to democratization.”
According to Chamria, frictionless collaboration, in addition to clear ownership and improved data privacy, is a fundamental tenet of Web3. Web3 allows students and teachers to collaborate and share knowledge.
“Think of it as having the collective experience of MIT, Stanford, IITs, and Ivy League universities at our disposal,” Chinnachamy said.
Web3 will significantly improve core processes by allowing for contributions and collaboration from a wide range of stakeholders, including students, faculty members, institutions, accreditation bodies, and so on, according to Raj Singh, Vice Chancellor of JAIN (Deemed-to-be-University)
In the Web3 paradigm, processes such as content authoring, reviewing, authentication & authorisation, and revision, among others, are poised to be completely reimagined.
Furthermore, the incorporation of AR/VR and metaverse tools into education will make learning more interactive and enriching.
AR/VR tools assist us in understanding and learning complex concepts in an immersive, interactive environment.
“For example, rather than learning that atoms are made up of electrons, protons, and neutrons, consider a simulation in which students experience it in a virtual world, taking practical assessments and earning a token for completing the course.” “The tokens earned can also be universally verified,” Chinnachamy added.
This method of learning is more inclusive, diverse, goal-oriented, and, most importantly, enjoyable.
Web3 will be all about personalised and curated experiences, as opposed to a one-size-fits-all approach.
Students can also discover themselves, given that Web3 is ultimately a trial-and-error process, and become a part of a larger community, according to Ankush Singla, co-founder of Coding Ninjas, an edtech platform for learning to code.
Web3 can alleviate the financial burden of establishing and maintaining infrastructure for educational institutions.
‘Web3 Will Not Replace Teachers,’ says one expert.
When viewed through the eyes of a teacher, Web3 is extremely inspiring. A teacher can address both live and virtual students at the same time. High-quality content can be made available in a variety of formats or repurposed for use by other students.
“Web3 will not take the place of teachers.” Instead, it will give them the authority to provide each learner with a tailored, high-quality education,” Chamria explained.
Web3 will make it easier for teachers to create courses and own the materials, according to Chinnaswamy, while students will be able to control what and when they learn. They can also validate their knowledge and receive recognition for it.
How Can Web3 Disrupt Education Technology?
Web3 and its immersive tools like AR/VR are expected to disrupt education.
“Moving to Web3 will not only have an impact on how the edtech industry operates today, but it will also enable large-scale content creation by users.” “The technology is now positioned as a mass tech movement, with its core pillars being metaverse, crypto, and blockchain,” Singla explained.
According to Chinnachamy, the democratic nature of Web3 and the openness of data will allow a startup to compete on an equal footing with a large player.
“As education becomes more affordable and interactive, students around the world are likely to participate more.” This, in turn, will make the platform more competitive for all stakeholders, lowering pricing even further. Everyone benefits! ” He continued.
Be Warned: It’s Not All Roses
Web3 supporters are ecstatic about the potential for disruption that next-generation internet has. However, challenges cast a cloud over this rosy picture. The infrastructure challenges are so massive that widespread adoption of Web3 appears far off. It is worth noting that even edtech startups do not find Web2 as easy to use as they would like.
“Unfortunately, Web3 is still a wild west, and infrastructure is still not stable and standardised to make all of the above a reality,” said Talvinder of Pragmatic Leaders.
Pragmatic Leaders is an online institute that helps early and mid-career professionals improve their product management skills.
However, the challenges that Web3 solves differ from those that Web2 solves, he quickly added.
“Web3 is an evolving technology that will not replace Web2, contrary to popular belief,” Chinnachamy said. It is expected to be a hybrid of both technologies, resulting in a unique value proposition.”
Web3 relies on centralized servers for backup and network resilience. Some people are skeptical that decentralized infrastructure relies on peer-to-peer (P2P) storage features, which may not be a good fit for Web2 providers like AWS.
“We are still a very very long way from having a reliable decentralized network.” Meanwhile, other aspects of the Web3 network are improving,” Talvinder said.
According to Chinnachamy, P2P storage is only necessary for sensitive data where the pieces of data are stored across the nodes of the blockchain network.
It prevents data loss and theft, but it is also slow and unreliable unless the network is sufficiently large.
“P2P storage will not replace cloud or traditional storage mediums.” Large files or low-sensitivity data, such as class videos, will continue to be stored in providers such as AWS, GCP, Azure, and others.”
He used textbook ownership as an example. As an example, He clarified that while its metadata can be tracked in decentralized networks or blockchains, the book itself will be stored in cloud storage.
“As a result, still they each have their own use cases and are not competing with one another.”
Another concern about Web3 possibilities in education is that they may undermine the very purpose of universal access. This lack of trust stems from the high cost of metaverse integration tools such as AR/VR for those who need it the most.
“In education, mainstream adoption of technologies occurs when they meet the three A’s: accessible, affordable, and accreditable.” “AR/VR fails on two out of three As and thus falls short of mainstream adoption,” said Talvinder Singh, CEO & Cofounder of Pragmatic Leaders.
Chinnachamy, on the other hand, seemed to be a perpetual optimist. He believes that AR/VR will become mainstream within the next decade, revolutionizing the way children in developing countries learn.
He believes that decentralisation in the metaverse will make it accessible to everyone on the planet, regardless of race, gender, or country.
Web3 Infra token Pocket has been added to the global exchange KuCoin-
Pocket Network, a provider of data relays and blockchain infrastructure, has announced that its native token $POKT will be listed on the decentralized exchange KuCoin.
On October 19th, $POKT trading will be enabled on KuCoin, and a trading competition will run until October 26th, 2022.
$POKT can also be found on the following global exchanges: Huobi, Gate.io, Okcoin, MEXC, BTCEX, Btok, Bybit, ZB, Bitget, and Bitrue.
The utility token claims to enable a two-sided, permissionless marketplace where app developers can use $POKT tokens to access blockchain data via Pocket Network.
Furthermore, node runners can earn $POKT rewards for fulfilling the data requests of these developers, incentivizing the ecosystem.
Pocket Network claimed to be experiencing exponential growth, with the number of monthly data relays serviced by its node runners more than tripling since the beginning of the year, and the network handling more than one billion daily relays on a regular basis.
$POKT has only had niche availability to date, but listing on KuCoin is our first step toward providing our solution to a broader investing audience, according to Michael O’Rourke, CEO and Founder of Pocket Network.
Web3 and blockchain technology’s promise-
Web3, Blockchain, and Crypto are making inroads into our daily lives. Financial institutions, government agencies, and private organizations have either implemented or are planning to implement blockchain technologies in a variety of aspects of their operations. Crypto assets have grown in popularity among retail and institutional investors worldwide. The transition from Web2 to Web3 has begun, and the full transition will occur over time.
While these emerging technologies and concepts are welcomed for the tremendous economic and social value they provide, they are frequently viewed in isolation. Web3, blockchain technology, and cryptos are all inextricably linked. In this context, it is critical to recognize that crypto assets play an important role in the blockchain and Web3 ecosystems and, as such, must be viewed as a “transformative force” in our innovation economy. Cryptocurrencies are much more than a new asset class with intrinsic value.
Web3 is the internet’s third generation, based on blockchain technology. Web1, the first internet version, debuted in the late 1980s and was limited to basic features such as static web pages that could display information. The second version, Web2, allowed users to transition from ‘only read’ to’read and write.’ However, tech behemoths that owned social media networks and cloud-based services gradually evolved into ‘data centers,’ controlling the content shared by users.
Some of the issues that have been increasingly debated and criticized are data sharing and gathering, ethics, and concerns about data privacy and security. Every problem can be solved by technology. The blockchain technology that underpins Web3 has a solution to this problem. This emerging technology is known for its decentralized characteristics and is based on a distributed and open ledger system in which each block stores information that cannot be altered or tampered with, ensuring maximum transparency.
It is critical to understand that a blockchain operates on its own tokenomics based on incentive mechanisms. Incentives are essential for decentralized blockchain participants to cooperate in validating network updates. Participants in the bitcoin blockchain, for example, expend computing power to validate transactions in order to earn bitcoins as ‘block rewards.’ Similarly, each public blockchain has its own native crypto, which is used to pay as rewards.
The incentive mechanism also serves as the foundation for digital asset provenance, enabling use cases such as decentralized finance, digital credentials, and metaverses. The origin and transaction history of each unit of a crypto asset can be tracked using encryption and network-wide consensus on blockchains.
The value of digital infrastructure cannot be falsified or duplicated due to the presence of this verifiable chain of titles. This certainty is critical for Web3 solutions, which use self-executing algorithms based on real-time data in the form of smart contracts. This could, for example, take the form of notary services validating the transfer of property records.
In the context of India, blockchain technology, if properly implemented, has the potential to improve public services and identity-based social development solutions. While the central government recognizes the importance of developing blockchain technology, the next step is to pay closer attention to crypto’s potential use cases other than digital assets, which is only one of them.
Cryptocurrency is a powerful trend that is influencing economies all over the world. The industry is confident that policymakers will collaborate to develop regulations that will allow our economy to reap the full benefits of the global crypto industry.
India is one of the top five countries in terms of embracing new digital assets. It can benefit even more if the industry and government collaborate to develop a regulatory framework that will allow crypto to gain legitimacy while also protecting users’ interests. A recent NASSCOM report, ‘The India Web3 Startup Landscape,’ correctly states that Web3 holds greater promise in various areas, but regulatory challenges are a critical impediment that will necessitate decisive ecosystem action.
To summarize, crypto is central to the blockchain and Web3 ecosystems; thus, the government must be pragmatic in its efforts to deploy and advance blockchain infrastructure to improve public services. The journey has begun. Nonetheless, the direction it will take will be determined by how quickly we create an ecosystem that embraces cryptocurrency. A more comprehensive approach is required for the industry’s growth.
As large corporations face layoffs, tech talent migrates to Web3.
As inflation continues to rise, and a recession looms, many technology companies are being forced to lay off employees. To put this in context, according to data from Layoffs.fyi, over 700 tech startups have been laid off this year, affecting at least 93,519 employees globally. It has also been reported that tech behemoths such as Google, Netflix, and Apple are laying off massive numbers of employees.
While many of these layoffs are likely the result of an economic downturn, this has resulted in an influx of talent to early-stage Web3 companies. For example, serial entrepreneur and startup founder Andrew Masanto recently launched Nillion, a startup specializing in decentralized computation, to help ensure privacy and confidentiality for Web3 platforms.
Although Nillion is still in its early stages, the company’s technological innovation has already proven to be appealing. Since the company’s inception in October of this year, top executives from Nike, Indiegogo, and Coinbase have joined the growing startup.
For example, Slava Rubin, the founder of the crowdfunding website Indiegogo, told Cointelegraph that he recently joined Nillion as the company’s chief business officer because he wanted to work for a startup with an innovative business model.
“The technology underlying Nillion is massively innovative, focusing on advancing secure multiparty computation” (MPC). MPC is notorious for being slow and incompatible with certain use cases. “I’m not concerned about the risk of failure here because there’s such a huge opportunity to solve this problem,” he said.
Lindsay Danas Cohen was also drawn to Nillion by the idea of developing technology to advance MPC. Cohen previously worked as an associate general counsel at Coinbase before becoming general counsel at Nillion this year.
Despite the fact that Coinbase announced in June that it was laying off 18% of its employees, Cohen explained in a recent blog post that she left Coinbase to join Nillion because of the opportunity to advance privacy and data sharing through MPC. “This would truly be a one-to-one innovation,” she wrote.
While the crypto industry remains in a bear market, it is clear that the projects being developed during this time are viewed as an exciting opportunity. “I founded Indiegogo during the 2008 bear market, and I believe the same will happen in this market.” “We will see some very strong companies emerge in three to five years that know how to use capital efficiently,” Rubin predicted.
Indeed, well-funded Web3 firms continue to hire, whereas large tech firms are facing layoffs and hiring freezes. According to Sebastien Borget, co-founder and chief operating officer of The Sandbox, the popular metaverse platform currently has 103 job openings. “The excitement of working in the front row of Web3 is high, and we are taking advantage of this interest in our open positions,” he said.
According to Borget, The Sandbox has grown to 404 employees this year, nearly doubling its workforce from 208 in December 2021. Borget went on to say that The Sandbox’s virtual real estate, known as “LANDs,” is now worth more than $1 billion in total market capitalization.
Furthermore, as Web3 firms continue to hire both new and acquired talent, young job seekers appear to be more eager to acquire the skills required to join these firms.
According to Priyanka Mathikshara Mathialagan, president of the Stanford Blockchain Club, an increasing number of undergraduate students at Stanford are taking blockchain-focused courses in preparation for careers after graduation.
“We had more students enrolled in professor Dan Boneh’s cryptography class this year than in traditional computer science courses,” she noted.
Despite the bear market, Mathialagan believes that significant improvements have been made in the Web3 space, resulting in a more positive outlook for the sector. She mentioned, for example, that the Ethereum Merge on September 15 has helped ensure a more energy-efficient platform, creating interest for students who may want to leverage the Ethereum network for Web3 projects.
Mathialagan added that, while extensive theoretical research has been conducted in fields such as computer science for many years, Ph.D. students are considering Web3 due to new opportunities for advancement. She stated:
“Theoretical computer science and cryptography use math that is similar to the math required to advance zero-knowledge proof-based applications.” There is now an industry that wants to pay Ph.D. students for their research and use the results.
For example, because every blockchain is a distributed system, there is a high demand for distributed system engineers. These are the individuals capable of developing consensus algorithms and new architectures for scalable and secure blockchains.”
This appears to be the case, as Masanto revealed that Nillion has hired ten engineers in the last six months. Borget went on to say that The Sandbox is currently hiring 17 engineers, as well as game designers, architects, and other people who can help brands build in the company’s metaverse.
Skepticism persists.
While it is encouraging that Web3 firms are actively hiring, a number of concerns remain. For example, while businesses remain focused on building during a downturn, fundraising may be difficult.
Given this, it’s worth noting that Nillion is still being bootstrapped by its founding team. Delphi Digital, a crypto-focused research firm, also confirmed to Cointelegraph that, while the company is currently hiring across the board, no funds have been raised.
While impressive, running a company on personal finances or operating revenue may be concerning for job seekers. For example, Mathialagan stated that students starting a career in Web3 want to know that the company will be around in two to three years.
Jessica Walker, chief marketing officer of Fluid Finance, a fintech company focused on using blockchain to revolutionize banking, told Cointelegraph that it is a waiting game to see which companies have the strongest communities and teams capable of surviving the crypto winter.
“It’s critical for organizations to form alliances and launch products while also budgeting their overhead costs during this time.”
Furthermore, Mathialagan believes that it is difficult for students and individuals in the Web2 sector to connect with Web3 companies. For example, while companies like Nillion have hired people from Coinbase, Indiegogo, and Nike, Masanto revealed that he already knew a few of these people prior to hiring.
Walker also mentioned that, as a result of the bear market, recruiters must pay extra attention to detail when onboarding new team members. “Some new hires are concerned about the security of their position, especially during a bear market.” “At Fluid, we frequently try to hire from within our community first,” she explained.
Although strategic, Mathialagan mentioned that the Stanford Blockchain Club is compiling a list of job postings to help students connect better with Web3 firms as more hiring occurs: “Hiring remains the biggest single problem for students, even beyond security issues faced by Web3 companies today.”
