VILNIUS, Lithuania,
Aug. 30, 2019 /PRNewswire/ -- Each
year, approximately 102.5bn USD is
donated for education in the US alone, according to the annual
reports by CAE and Giving USA.
However, there is little transparency as to how these donations are
used by the intermediaries and what impact is achieved with
contributions that sponsors make to the cause they donate
for. This is a problem that can be solved at scale with
blockchain technology. BitDegree has launched the first
transparent open-source micro-scholarship solution that may
transform the education donations.
BitDegree Scholarships is the solution that enables tracking how
contributions made by sponsors are used in real-time. Sponsors'
user experience is similar to that of advertisers running Google ad
campaigns.
All of this is possible because of the solution that BitDegree
has developed for recording educational achievements: the data gets
recorded into blockchain as immutable credentials. Blockchain
credentials serve as secure and transparent rails on which then
decentralized payments can run. The entire solution can scale
infinitely because of its decentralized open-source nature, where
relationships among parties involved are handled through
transparent customizable automatic contracts.
The solution cuts-out the middleman, such as education
charities, as the blockchain system can control the education
process and its funding automatically at a much lower
cost.
Micro-scholarships are currently available for online learning
on the BitDegree platform as a showcase, and other offline and
online education vendors and charities are welcome to join.
Motivated learners from around the world can ask for a
micro-scholarship to cover the course cost and compensate for their
time spent while learning as an incentive.
Financial incentives for learning are important because learners
in developing and even developed countries often have to choose
between learning and low-paid work that provides necessary income,
putting their families' wellbeing at risk. These incentives also
motivate to finish courses and to continue learning further,
signaling that the skills gained are valuable for the global job
market, leading to better employment opportunities.
Learners can already apply for BitDegree Scholarships by
providing their stories, motivation, and request for pre-defined
micro-scholarships. Their applications will be reviewed and
verified by the BitDegree team before being published on the
platform for the potential sponsors to fund. In the future, the
process will be fully automated.
In the current version of the BitDegree Scholarships solution,
sponsors can choose which learners to support in a go-fund-me
style. Sponsors get a transparent way of tracking how funds are
allocated towards the learners' education and know whose lives they
impact.
Start making a change by sponsoring students here.
Apply for BitDegree scholarships here.
Contact Information
Andzelika Zukauskaite
Marketing Manager, BitDegree
andzelika@bitdegree.org
Related Images
blockchain-powered-micro.png
Blockchain-Powered Micro Scholarships
View original content to download
multimedia:http://www.prnewswire.com/news-releases/bringing-transparency-to-education-donations-with-blockchain-powered-micro-scholarships-300909698.html
SOURCE BitDegree