Spitball 2.0 Opens Blockchain Education Market With Tokenized Student Economy
Spitball, the first decentralized global marketplace for students, has launched a token-driven blockchain economy aimed at transforming the more than $150 billion industry into a decentralized platform that will give students a much fairer deal.
New to Spitball 2.0? Here’s a quick video to understand our project: https://t.co/UufewEBjcE
— SPITBALL (@SpitballStudy) August 28, 2018
By utilizing its own tokens on the blockchain, Spitball believes it can deliver a bunch of undeniable benefits to students. The Spitball 2.0 economy will protect the ownership of content creation, maintain strict privacy, lower costs, and increase student earnings. The platform will also be able to process micro-payments on a genuine economy in which students can earn rewards when they share content, perform tasks on the platform, or sell goods.
With more than 25 partners in the education sector including CourseHero and Chegg, Spitball 2.0 will leverage on the existing platform to unlock new opportunities for students. This will be a game changer in the ed-tech sector.
The new, tokenized student economy seeks to address the issue of student revenue for their content, which currently stands at a very small percentage. Spitball 2.0 will utilize the blockchain technology to connect students directly, which will lower costs and give the original creators of content—the students, fair rewards. The new development aims at rewarding students for being the main participants in the e-learning industry, which is said to be worth $244 billion by 2022.
According to Eidan Apelbaum, Founder and CEO of Spitball, students currently get peanuts in exchange for the content they create online.
“Tomorrow’s world depends on today’s students. Despite excellent education on offer and an array of online platforms to support them, students are effectively treated like cash cows. Spitball 2.0 aims to change that and fairly reward them for taking part in student life—learning together, teaching each other, and sharing data. We believe that cryptocurrencies have a significant place in our future world and Spitball 2.0 will allow students to enter this world easily, setting them up to take advantage of a lifelong capability within this rapidly expanding industry. The tokenized environment is vital as it puts money in the pockets of students, whilst allowing them to build trust among their peers.”
A Gateway For A New Generation
Spitball 2.0 will be the entry point to the crypto space for a generation that will embrace it as an important part of their future. The accepted currency on the platform is the SBL token, which integrates seamlessly into the payment system. As such, there’s no need to create a digital wallet or to convert fiat money into cryptocurrency. This is because the Spitball 2.0, through its front-end system, will do all the integration while transferring legacy users with no considerable changes.
Students On The Leading End
The e-learning industry is currently dominated by one-off platforms and middlemen that take the largest share of the profits generated from subscription fees and hefty transactions.
Since Spitball 2.0 seeks to lower the cost of learning services through the blockchain, more students will have regular access to such services. The new platform will save them from using a student platform that provides only provides a one-off help with an assignment or force them to pay for an expensive catch-up with the previous lecture notes.
Designed to be part of the student’s daily life, Spitball 2.0 will give students proof of ownership, help them secure intellectual property rights, and protect every creator of content. More profits and lower costs will lead to more users and more activities on the platform. In the end, the global student community will benefit from Spitball 2.0’s tokenized economy by contributing content, earning rewards based on useful platform actions, and investing in services on other platforms designed to meet the needs of the global student body.
The Shift To Tokenized Economy
With the blockchain taking over the future of the global economy, the shift from fiat currency to digital tokens will give students an easier entry point to the world of cryptocurrency. With no need to set up a digital wallet, Spitball 2.0 comes with an integrated wallet that solves all the complexities in the background.
Students will be able to create accounts, purchase SBL tokens, and trade tokens into fiat money—all on the same platform. By using digital tokens, students will be able to minimize hefty fees that banks charge on currency conversion, especially when it comes to international trade.
Importantly, Spitball 2.0 will enable students around the world to change the way they learn, share information, and interact with fellow students. In a cheaper and faster way than ever, they will be able to build a study ecosystem around them while benefiting from their own creations.