Reimagining Education in a Decentralized World

Key Insights

Education is key to human flourishing, but current models are not leading to optimal learning for the majority of people around the world.
Web3 has enabled creators to own their work online, ed3 enables students to own their education.
Nascent ed3 models are improving access, affordability, and accreditation, but more work needs to be done.

Education is Essential for Human Flourishing

Unicef believes that every child has a right to an education, but that the current schooling system is not leading to optimal learning.

More than half of the world’s schoolchildren are not reaching minimum proficiency levels in reading and mathematics, according to the UN. This learning crisis is the greatest global challenge to preparing children and adolescents for life, work and active citizenship. Education is a key element for human flourishing.

We know that K-12 education presents challenges, and that only 7% of the world’s population has a secondary education degree. In even the most educated countries, the majority of citizens don’t have a college degree.

If the world is truly transitioning into a knowledge economy, then improving living standards and promoting equity can be done most effectively through education. The current education system might work for 7% of the world, but we need a system that can reach the other 93%.

These new models are based on the decentralized power of Web3 and are very promising.

The text is discussing how web3 will impact our lives and how it is being promoted as a mass-tech movement.Web3 can revolutionize education by making it more data and relevancy based. It is still in its infancy, but it has the potential to make learning smarter and dismantle problematic systems.

Web1 and web2 both use centralization to support all types of online activity, while web3 uses decentralization for verified transactions. This means that web3 is the next step toward a more fair world where everyone can access intellectual opportunities.

With various versions of the internet, education has changed in the following ways:

Web1 education is the same as knowledge transfer between approved institutions.
Education in web2 refers to centralized platforms that distribute education.
Web3 education is about individuals learning skills from multiple sources and validating them on-chain in their wallets.

Although education has been something that has traditionally been accessibly only to a small number of people, web3 in edtech is solving many of the problems that persist at present. With web3, universities can be fractionalized so that students can earn micro-credentials that are specific to their needs and career goals. In addition, web3 makes it possible for students to earn credentials that are transferrable across institutions and industries.

In this article, we will discuss how web3 is impacting edtech, and how it is helping to embrace ed3 – the future education model.

Challenges in current education

There are three main issues that need to be addressed in education: accessibility, affordability, and accreditation. New technologies can help solve these problems.

Accessibility

Less than 7% of the world’s population owns a college degree, which is a significant hurdle in the present education model. There are also many concerns about equity and inclusivity among this population. Universities are often in the spotlight to ensure fair representation of all communities. The structure also limits access because most schools and universities offer education with two main constraints: location and time.

Location

One of the major obstacles in education that many students face is location. Many K-12 schools are located in specific areas, and though online university classes are on the rise due to the COVID-19 pandemic, many of these classes still require students to attend in person. Another obstacle is that online courses from one country might not be available to students worldwide, so national borders remain a significant constraint.

Time

In the present educational system, classes are offered in chronological order, with many classes starting in the fall, spring or summer. Students who miss one of these classes have to wait to take it. For some courses, students who are unable to attend the whole 16-week semester are not allowed to complete the course. Many courses are present in sequences, so missing one means the next course will take longer. Because of these reasons, accelerated programs are emerging.

Affordability

It is costly to get an education, which limits future opportunities and makes people less likely to start their own businesses. In the future, many jobs will require further training, which many people cannot afford. This is a problem for the government and parents who pay for education.

Accreditation

The Carnegie Unit, which requires students to spend a certain number of hours in a classroom, slows down change and prevents students from learning what they need to know for the Knowledge Economy. To increase skills in the Knowledge Economy, we need to shift from theory to practice. Competency-based accreditation models could offer a pathway to rewarding mastery instead of time spent in a classroom. Universities are now under greater pressure to improve administration, making up more than 50% of the payroll.

What is EdTech?

It also supports educators in enhancing digital literacy skills. Edtech, or education technology, is the use of information and communication technologies to create new learning opportunities in the classroom. This can include anything from using hybrid learning methods to supporting educators in enhancing digital literacy skills. There are several benefits of edtech, as follows:

Edtech keeps hybrid classrooms connected

Remote learning is the best way to use technology in education. It allows you to attend lectures or classes via video or audio communication. This requires edtech to keep the class engaged. A video conference can be set up to allow students to connect from anywhere in the world, making education accessible to more people.

Software for edtech allows students to be more productive

Edtech software provides remote learners with a new level of flexibility. Students can access their work online and submit homework online. They can learn at their own pace, so whether they have difficulty with a section or are already familiar with it, they can either move on or review the material. This allows students to customize their learning experience.

Edtech is a tool that helps teachers keep organized

Edtech platforms allow teachers to create digital repositories of teaching materials, videos, and slide decks for students to access at their leisure. This is more efficient than looking through old paper resources, and it is easy to see what material is available. All classes that are taught remotely can tend to blend together, but edtech makes it possible for teachers to be prepared for each lesson and class, even if they juggle several remote or hybrid classes.

What does web3 in EdTech look like?

Web3 is still in its early days, but it has already started to disrupt every sector of the economy and art world. The education sector will also have to adapt to it, as web2 is gradually being replaced. It will require adjustments in everything, from curriculum to administration. This is a significant shift in how schools interact with digital content. All data, from grades to reports and medical histories, will be transferred to the blockchain. Schools will also be able to shape their infrastructure in new ways, and achievements will be instantly visible and verifiable. A school could create its own token to be used as the foundation of an internal economy system with which students and teachers can engage. This could be a way for schools to offset their budgets, reducing the need for government support.

Where does web3 in EdTech stand today, and why web3 matter?

now more than ever- there is a need for students to be adaptable to new technologies e-learning provides an equal playing field for all students, regardless of their location Web3 technologies can help create more personalized learning experiences Nowadays, students are becoming more interested in skill development, upskilling and re-skilling. Edtech is being heavily promoted, particularly for youth to adapt to new technologies and innovate in their areas. E-learning is gaining more traction not only in tier-1 cities but also in semi-urban and rural areas. Due to the coronavirus epidemic, there has been a significant shift toward e-learning in the past two years. Now it is part of the mainstream framework for IT and technological education. Web3 matters for today’s education because – now more than ever- there is a need for students to be adaptable to new technologies, e-learning provides an equal playing field for all students, regardless of their location, Web3 technologies can help create more personalized learning experiences.

It is time to increase earning potential through a digital platform allowing content creation, monetization, and information sharing.
Artificial intelligence is a method to develop self-learning and flexible education modules. It allows for self-sufficiency and evolution. The system also tracks learner preferences and habits to provide the needed resources and results.
Users can personalize their learning experiences by adding their preferences, interests and choosing specializations. The edtech learning modules will allow users to personalize their learning materials and provide suitable data. Virtual avatars will be created from user profiles, which are representative of the online learning interests and preferences.
IoT (Internet of Things), which will allow the integration of additional devices, will allow for easy internet connectivity without any location restrictions.
Virtualization will help accelerate digital interactions of learners with their immediate environments through 3D images/inputs searching and using voice/smart-glass-based learning methods.
Web3 will ensure decentralization of computing by eliminating centralization to information sharing based multi-server framework. Blockchain is one example.

Why Education Needs to Embrace Change

The question of what education is for is a fundamental one that needs to be answered in order to realize the potential of web3 for education.

Although education has long been beneficial for a small number of people around the world, it has left out many others. The current system, referred to as “ed1,” bundles together various elements (such as skills training, research, personal exploration, social networks, etc.) that have contributed to the success of some of the world’s most respected institutions. However, this system fails to serve everyone equally.

Skills training is often the first thing that comes to mind for students and parents when they think about education. The question of whether or not education is worth it usually revolves around whether or not the school can provide the skills necessary for a successful career or placement at a good university. Some schools, like tech schools or polytechnic universities, focus explicitly on this aspect of education, while others, like research universities or liberal arts schools, place less emphasis on it.

Education in a Changing Workforce

There is a high demand for workforce development today because of changes in demographics and technology.

More training is needed for existing workers and those entering the economy because technology is speeding up the rate of change. By the time students have completed a four-year degree, the skills they have learned are often already out of date. Students who only have a high school degree can’t apply for 65% of the available jobs in the United States because they require some college education.

The labor market is rapidly changing due to declining birth rates in wealthier countries. This results in an aging workforce that needs to be reskilled to meet workforce demands. Younger workers will need to be found, which will most likely come from emerging economies. The competition for this talent will increase.

As we enter the Knowledge Economy, a greater number of workers with specialist knowledge are required. The problem is that traditional education from kindergarten to college is not meeting this demand or keeping up with the pace of change.

The goal of education should be to help students thrive and be successful in the world.

In order to be successful in today’s world, the education system needs to be willing to adapt to change. New web3 technologies can be used in education to help create ed3 and achieve the goal of making a difference.

It is not easy to make this change. Parents, policymakers, and teachers tend to be more conservative in their approaches to change. They are thinking about the impact on their children or their school with an eye towards avoiding risks. A longer-term, bottom-up outlook will be needed to integrate web3 technologies into our current education system and build the foundation for a future-proofed education system.