CHIASSO, Switzerland, May 3, 2018 /PRNewswire/ -- ODEM, creator of the world's first On-Demand Education Marketplace, has filed a provisional U.S. patent application on two critical components of its blockchain-based education platform.
ODEM and Dr. Adel ElMessiry, the company's chief technology mentor, are asserting their ownership rights to the platform's system of staking, or registering for, academic programs as well as unique design aspects of the ODEM Platform's digital token model. The filings were made to the U.S. Patent and Trademark Office.
"This patent application is the fruits of our research into how to represent educational materials and events on the blockchain," says Dr. ElMessiry. "Education is our message and mission."
Switzerland-based ODEM, created to exploit blockchain technology to make higher education more affordable, has finished the first version of its technical whitepaper and looks forward to sharing with the community soon. Drafting of the 32-page blueprint comes ahead of the planned release of the ODEM Platform's first working prototype in June. ODEM is leveraging artificial intelligence to directly connect educators and students for in-person educational courses. ODEM aims to become the Airbnb of education.
"Filing of the provisional patent application is further evidence that we're breaking new ground at ODEM," says Richard Maaghul, ODEM's chief executive officer. "I'm really excited about the future of education as we step toward the next phase of technical platform development."
ODEM's staking mechanism and digital token model are critical to the operation of the ODEM Platform. In addition to being a global education marketplace, the platform will streamline the organization and delivery of in-person learning experiences at top U.S. universities and corporate campuses.
Students and educators will use ODEM Tokens to stake, or lock, their commitment to particular academic programs. The ODEM staking model follows pre-defined conditions to reward platform participants for their course commitments. It also docks fees for backing out. When a program is scheduled and conditions have been confirmed by educators and students, the staked tokens will be unlocked.
ODEM's staking architecture is based on adoption of the Ethereum ERC-900 interface and has been adapted to accommodate staking characteristics to the ODEM model, Dr. ElMessiry said. Unique elements of the token model shield ODEM Tokens within the platform from external market forces to ensure the integrity of the platform ecosystem.
Based in Switzerland, ODEM is allied with Excelorators Inc. of Cambridge, Massachusetts, a leader in the organization of high-quality, in person training for international students and executives. During the first quarter of this year, ODEM sold more than 100 million ODEM Tokens in a crowdsale. The tokens are listed for trading on the Bitfinex and Ethfinex digital currency exchanges.
Switzerland-based ODEM is developing a blockchain-based platform to streamline the logistics of organizing and delivering short-and-medium-term academic experiences. Blockchain technology also underpins the creation of the ODEM Token, an exchangeable digital coin.
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