Learning Rewards Brought About By Blockchain
The blockchain technology has consistently broken barriers and is paving new roads in concepts we thought had reached their limits. It wasn’t until recently that gamers realized they could cash out on long hours spent playing video games with play to earn games. This concept was only made possible when blockchain technology was integrated with video games. A similar occurrence has taken place in the field of education. The blockchain technology has bridged the gap between learning and earning with incentivized learning: the learn to earn model.
What Is The Learn To Earn Model?
The learn to earn model brought about by blockchain differs depending on the blockchain project. But generally, it refers to the acquisition of knowledge along with incentivizes for various learning activities. These rewards may vary based on the platform but are mostly in the form of cryptocurrencies. An example is CoinMarketCap’s “learn crypto, earn crypto” program, where learners can earn various crypto assets, from BNB on the Binance Smart Chain to $LIKE, Only1’s native token. Other such programs include the Coinbase Earn Program, which allows Coinbase users to get free cryptos by acquiring crypto knowledge, and Singapore-based Phemex’s educational program called “Learn and Earn.”
The Role Of The Smart Contracts
Smart contracts are the key to everything in the decentralized finance space, and together with blockchain, they bring secure automation to any system, hence the pivotal role they play in the learn to earn model. With smart contracts, rewards and disbursements of incentives are automatic, based on the code of the smart contracts and specified activities for rewards.
Examples Of Learn To Earn Projects
Launched in 2015, Education Ecosystem is a project-based learning platform that teaches people how to build real products in areas such as programming, game development, Artificial Intelligence, cybersecurity, data science, and blockchain. Education Ecosystem is special because it focuses on more advanced learners (i.e., students and professionals), helping them advance their careers. With an ingenious earning model, Education Ecosystem offers rewards in its native token, $LEDU, to both project creators and learners for various positive activities within the platform. Positive activities for rewards include:
- Creating learning projects
- Watching project videos
- Sharing videos on social media
In 2022, Education Ecosystem improved its project library by adding around 300 short and long projects to its platform.
EarnCrypto is a crypto reward platform that offers users rewards for various activities on the platform, one of which is learning. Users on EarnCrypto can earn rewards when they watch guides and informative videos on the platform, and they get rewarded after short assessments pertaining to the videos. EarnCrypto also offers users rewards for taking surveys, completing various tasks, and sometimes, testing crypto applications.
Earnathon is a website dedicated to sharing knowledge on a host of crypto topics. Users can hop on to the site to acquire knowledge on a variety of crypto-related topics. At least seven projects are registered on the platform, offering their native tokens as rewards to entice users into deciding to take their courses. Users also have the option of earning rewards in Earnathon’s native token, ENA. Though Earnathon may have a good concept, there are questions over its legitimacy as the platform lacks a whitepaper or a roadmap.
Another learning project with incentives, BitDegree enables users to earn crypto by watching a series of informative videos about blockchain known as “Learndrops.” It then proceeds to assess their knowledge with a test before rewarding them with cryptos.
Binance Learn To Earn Program
Binance offers various reward programs, one of which is the Binance learn to earn program, which simply allows users the opportunity to earn cryptocurrency by taking quizzes and tests on blockchain knowledge obtained from the Binance academy. Binance offers a host of fundamental courses on blockchain through its academy, a section on its website replete with many topics on crypto and blockchain.
Leveraging blockchain technology, tokenization has been employed by various projects seeking to incentivize learning. This has provided users with a means to increase their crypto portfolios while acquiring substantial knowledge. For bridging the gap between learning and earning by incentivizing learning, blockchain technology seems to be an innovation. Hopefully, we might see the adaptation of incentivized learning in traditional education.