If we live in an information-based economy, education is the key to human flourishing and the most effective way to raise living standards and promote equity. However, we require models applicable to the remaining 93% of the population, as the current model may only work for 7%. Now, we can experiment with new forms of education that take advantage of web3’s decentralized power. Web3 is influencing virtually every industry through the transition to decentralized technologies that customers primarily own. Similarly, education is moving toward the ed3 learning platform.
ED1 Learning Environment
Ed1 is the dissemination of information by formally recognized institutions, such as colleges and universities.
ED2 Learning Environment
Similar to Udemy and Skillshare, Ed2 was a central platform that provided distributed education.
ED3 Learning Environment
Ed3s are collectors of knowledge who compare their knowledge to the weight of their wallets. Web3 serves as the entry point to the ed3 knowledge ecosystem.
Web3 knowledge and ethos make new educational options possible, especially for those who critique the status quo in education.
Many new forms of education are being developed in web3 that can serve as models for the evolution of ed3.
Traditional Educational System
It is a community-based system because parents, students, and teachers play significant roles in education. The predominant educational model is the traditional classroom setting, where instructors and students interact face-to-face. Lessons adhere to a strict timetable with clearly defined start and end times. College students who cannot complete a semester cannot continue their studies. There are also constraints imposed by physical space.
How do DAOs affect the Educational System?
Decentralized autonomous organizations (DAOs) facilitate novel forms of collaboration in the web3 era. Decentralized autonomous organizations (DAOs) in ed3 would provide the required infrastructure to make such experiences possible. Bringing together students and instructors and compensating them would enhance the educational system. DAOs will serve as classrooms in the Internet’s third generation. Students can band together to learn about any topic of interest and use this knowledge to assist the DAO and earn money.
DAOs also bring us one step closer to individualized education. Aspiring young artists can connect, collaborate on projects, and receive real-time feedback from their peers. DAOs simplify administration as well. Typically, the largest donor has greater input into course content and delivery. Consider the impact of student input on curriculum decisions and college resource allocation. This has the potential to affect school enrollment and graduation rates significantly.
Drawbacks of Traditional Education System
The cost of a child’s education has skyrocketed over the years, reaching unprecedented levels between elementary school and college. Future students who could not attend college without financial aid have been severely hindered.
The current educational system has a significant flaw: incapable of imparting practical skills. During our research years, we are solely concerned with academic achievement and never with actual knowledge acquisition. Mark sheets are sometimes used as a proxy for intellectual capacity, and many educational institutions continue to employ ineffective teaching strategies from decades past.
Web3’s Contributions to the Education System
Web3-based learning environments do not require permission, allowing you to study whenever and wherever you choose. Thanks to the web3 framework, students worldwide now have access to the world’s best and most comprehensive library. Multiple modules can be taken simultaneously when a student’s credentials can be verified on-chain. They will perform paid tasks (known as “bounties”) to demonstrate their skills to prospective employers. This paves the way for them to transition from a purely skills-based approach to one that emphasizes knowledge mastery.
Equitable and Decentralized Economic System
Similar to what YouTube did for Web2, Web3’s social community platforms, such as DTube and KARMA, facilitate everyone’s access to education and training. The platforms utilize cryptocurrency to compensate content creators instantly. This means that content creators and consumers benefit from the system without the middleman taking a significant cut. This permits professors to reinvest their compensation and increase the value of their output. To maintain their standing in a more decentralized and equitable economic system, creators must prioritize developing unique educational opportunities. Students will benefit from a more expansive and level playing field with the metaverse. They would ride the metaverse without a digital representation of themselves. Web3 will employ a “learn-to-earn” model in ed3.
Web3 enables exciting new opportunities, such as the adaptability to utilize interoperable digital objects. Non-cash-exchangeable tokens are one example. Using blockchain technology, additional credentials may be embedded. Students can also purchase NFTs to facilitate the completion of tasks or bounties. On tokens, credentials can be stored. NFTs, pay for classes, local events, and other activities. These tokens can be utilized to purchase software, enroll in courses, and manage access. An NFT can be utilized to demonstrate the conclusion of a program or the completion of a process. Students who graduate receive an NFT that enables them to enter the workforce and continue to reap the rewards of their efforts. The NFT can also be utilized for voting.
The above-discussed accreditation strategies must be applied to traditional and nontraditional educational institutions. Competency-based education is the best model for web3 in edtech because it provides a practical solution for more formal educational institutions. Traditional educational institutions award students based on the number of class hours they attend, a measurement known as the Carnegie Unit. As learning becomes more synchronous and the Data Economy requires faster information acquisition, the usefulness of these accreditation programs diminishes.
As we define web3 competency, traditional higher education becomes increasingly fragmented. DAOs, offices, and ed3 learning platforms are a few of the numerous locations where students can pay for their education. Peer-to-peer learning is an effective method of education. Using the competency-based strategy, these credits can be combined with others to earn a conventional degree. By storing students’ credentials on the blockchain, universities and prospective employers can easily access the data.
Families can uproot and relocate without disrupting their children’s education because of the web3 marketplace development in the education system. In addition, educational institutions may grant cumulative credit for independent study, employment, and entrepreneurial endeavors. In addition, it is easy to identify gifted students well before any standardized test.
By incorporating cutting-edge technological resources into tried-and-true instructional strategies, Web3 can drastically alter how we learn. It promises streamlined data entry free from outside interference. Students and teachers have a more engaging and interactive classroom experience when Web3 tools are utilized. Regarding education, Web3 is a brand-new decentralized data-based system. Thus, students are permitted to acquire knowledge from a variety of resources. A blockchain community verifies and stores data to restrict access to only authorized users. Concepts like “Proof of Talent,” made possible by this technology, could significantly expand academic opportunities.