Questions for ODEM CEO, Richard Maaghul, by Cryptocentral.io
1. Hi Richard, could you briefly talk about your professional background and the core team at ODEM.IO?
My background is mainly in identifying the potential of emerging and disruptive technologies. For more than twenty years I’ve been actively involved in early stage funding, start-up development and acquisitions. I consider myself something of a serial entrepreneur.
Our team is a dynamic combination of experienced entrepreneurs, crypto specialists and educators. I’m particularly delighted with the quality of the team we’ve assembled around the ODEM concept. The team is committed to using blockchain technology to revolutionize education as we know it.
2. Jumping straight to the issue, please tell our readers about problems ODEM is addressing in the sphere of higher education?
Higher education is a broken industry that fails to prepare the widest possible spectrum of students for today’s fast-changing job markets. Education, especially the high-quality variety, is way too expensive. Cost, and the mountains of debt associated with it, is a major barrier to expanding student accessibility to high-quality education.
ODEM empowers students to collaborate with top university professors to create customized educational experiences, part of a life-long process of keeping skills relevant in fast-changing job markets. The platform also tips the balance of information in favor of students to increase their ability to effectively manage and negotiate the cost of their education and related services.
3. How did the idea of ODEM come about?
ODEM.IO stems from my involvement with Excelorator’s Inc. and my introduction to blockchain technology, smart contracts and digital currencies. Excelorators was and remains a pioneer in the business of opening up top U.S. universities and corporate campuses to overseas students and executive for short-term, in person, learning experiences. Excelorators forms the foundation of ODEM.
4. Can you briefly explain the ODEM model and how will it disrupt the global education market?
We’re employing blockchain technology to create a marketplace for education that will allow students and educators to collaborate to create exceptional course material. ODEM.IO empowers students to take ownership of their education choices. The platform is also a tool for students to manage the cost of related services like housing and travel.
5. What is the importance of incorporating Excelorators in your model and what advantages will it provide?
Our ongoing relationship with Excelorators also represents a powerful tool in reshaping education. We’re strapping blockchain technology onto Excelorators’ network of more than 200 professors at top universities. By cutting the role of intermediaries, we strengthen the relationship between professors and students. Both sides of the equation have more power to affect positive educational outcomes.
6. How will the ODEM platform benefit from the Ethereum smart-contracts technology?
The smart contracts act within the context of a decentralized ledger that helps maintain identities, govern commitments and ensures that algorithms used to coordinate between many stakeholders are secure and fair. Through smart contracts, the execution of commitments can be automated and community members are incentivized and rewarded for being good actors.
7. What is the royalty structure on the ODEM platform? How will this benefit students and professors?
Students can create their own programs that can be resold on the ODEM network, earning an ongoing royalty. At the same time, professors who develop curriculum can earn royalties from future use of the material.
8. How important was it to have a native token on your platform for processing payments? What other functions will the token perform?
The tokens are really integral to the ODEM platform. You cannot access the platform without one. They serve as shares in the use of the platform that can be used by educators and sponsors of educators to eliminate the platform fees incurred using the software. The crowdsale jumpstarts the community and development of the platform which supports and empowers the same community by using tokens.
9. Are you concerned about the scaling issues Ethereum is facing? Do you think these will get sorted out by the time ODEM launches its services?
We’re monitoring the Ethereum scaling debate very closely. Our system is being designed to utilize essential on-chain features that can currently be supported by the Ethereum network. Eventually, we plan to migrate our off chain transactions to on chain, but we’re not limited to just Ethereum for this. In fact, our payment platform will probably run through integration with another cryptocurrency like Ripple or Stellar. We’ll continue to plan, build, monitor and adjust based on market conditions and technological advancements.
ICO related Questions
1. What will the funds raised from the token sale be used for?
The crowdsale scheduled for Feb. 17, 2018 is all about funding further development of the ODEM platform.
2. I believe the Pre Sale started on 10th December. How has the response been?
We’re really pleased with the response from investors in the private and pre-sale portions of our sales process. At the same time, there are still some tokens available for our early adopters looking to join the ODEM mission.
3. Is there a registration process (KYC) for participating in the token sale?
Yes, ODEM is committed to following best practices. The token sale will require compliance with KYC (Know-Your-Customer) and AML (Anti-money Laundering) measures to confirm buyer identities. A KYC form will be available on the ODEM.IO homepage.
4. When is the Main token sale starting? Are there any bonuses available during the main token sale?
The main crowdsale begins on Feb. 17, 2018. ODEM has allotted 793,939 tokens to be distributed to participants as a bonus for referrals! Have a friend interested in ODEM? When they sign up for the crowdsale using your referral ID and purchase ODEM Tokens, you gain a commission. All tokens will be distributed at the end of the crowdsale.
5. What is hard cap for the main sale and what is the total token supply?
The hardcap is 11.1 million euros and there are 396,969,697 ODEM tokens with 238,200,000 allotted for the crowdsale.
6. Will the ODEM tokens be tradable on exchanges and which ones?
Yes, ODEM will be tradable on exchanges. The list of supported exchanges will be announced on the ODEM.IO website once confirmed.
Interview Questions by GS Bhullar, Chief Editor, Cryptocentral.io GS Bhullar graduated in Bachelors of Commerce from University of Toronto, and completed the MBA program in Business Development from Clarkson University, New York State. He is an entrepreneur with successful businesses in Real Estate and Hospitality sectors. He discovered Bitcoin and cryptocurrencies in 2013, and is always looking to learn about new technologies and developments within the space.
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