2018/02/17 - 2018/03/19
We assign ODEM a CryptoStandard Score of 7.8 and a Stable+ outlook. We believe that there is great potential for ODEM to acquire new prestigious university partners for customization in the long run. The savings in tuition fees also immediately incentivize students to use ODEM. Overall, we are positive about the after-market performance.
ODEM envisions to become a decentralised marketplace for educators to list classes and students to procure them. The proposed platform aims to solve several pain points of the education industry. The challenges include rigid curriculum of universities, exponential increases in tuition fees and limits of online education.
To tackle the challenges, ODEM aims to build a platform that enables students and professors to interact directly and participate in the exchange of education and learning without the involvement of intermediaries, which makes the courses more affordable and accessible to a broader audience. It also allows students to seamlessly interact with educators and to seize the opportunity in accessing custom-designed courses and education programs. Students can use ODEM to search for curricula that meet their needs.
The removal of intermediaries creates a win-win-win situation for educators, students and service providers. These programs would enable significant cost savings and do not have the bottleneck that exists in the most elite universities. According to ODEM, the platform enables an interactive education market that can aggregate student demand for specific course subjects, market professors’ offerings, safely make conditional pre-commitments, and handle payments and disbursements when service criteria are met. Cost efficiency is better achieved.
However, there are several key risk factors. First, there is limited community engagement from Facebook and Twitter which shows that public awareness of ODEM could be a key issue to address. Also, some of the ICO distribution details are missing, including the lock-up condition. The unclear roadmap and lack of prototype create concerns for the reliability of the project.
Overall, our team is optimistic about ODEM’s performance in the short-run as the reduction of costs drives up market demand. Yet, the extent of cost reduction cannot be estimated. The long-run performance would depend on the number of partnering universities and machine learning capability which allows a higher degree of customization thus profitability of ODEM.
Summary of the ICO
1.1.1 Summary of ODEM
ODEM, based in Switzerland, utilizes blockchain and a smart contract-based payment platform to facilitate education and learning through direct interaction between students and professors. By removing the intermediaries, it strives to make quality education more accessible.
1.1.2 Summary of ICO
The token, ODEM, is sold with the following features:
|·||Pre-ICO start date:||10 DEC 2017|
|·||Pre-ICO end date:||31 DEC 2017|
|·||Pre-ICO price:||1 ODEM = 0.0375 EUR|
|·||ICO start date:||17 FEB 2018|
|·||ICO end date:||19 MAR 2018|
|·||ICO price:||1 ODEM = 0.05 EUR|
|·||Hard cap:||12 million EUR|
|·||Soft cap:||1 million EUR|
|·||Minimum investment:||200,000 ODEM (pre-ICO)|
|·||Maximum investment:||2,000,000 ODEM (ICO)|
|·||Max fully diluted market cap:||19.8 million EUR|
|·||Market cap with circulating supply at ICO:||13.5 million EUR|
|·||Total no. of token supply:||396 million|
|·||Token distribution:||ICO – 45%
Pre-ICO – 15%
Team – 5%
Bounties/Rewards – 11%
Advisors – 6%
Company – 18%
Scope of the project and services
1.2.1 Mission and Vision
ODEM envisions to become a decentralised marketplace for educators to list classes and students to procure them. The proposed platform solution aims to solve several pain points of the education industry nowadays. The challenges include rigid curriculum designs of universities, exponential increases in tuition costs and the limits of online education.
1.2.2 Issues that the Project is seeking to solve/ Market Needs
From the whitepaper, ODEM has identified 3 barriers that limit students from getting access to quality higher education.
Universities’ rigid legacy model hinders the development of the education sector. Professors are often restricted by their home colleges on how, when and on what terms they can share their expertise. Students are hampered in their quest for knowledge by rigid controls on enrollment, course prerequisites and other onerous requirements. Gaining admission to some elite colleges can be more difficult and fraught with greater uncertainty than graduating.
The exponential increase in tuition costs represents a great financial burden to students. The access to the best educators is controlled and the cost inflated by the institutions who employ them. For students committed to lifelong learning, there is a lack of customizable options, which inhibits their ability to update their knowledge as their careers evolve. Researches have also reflected the limits of online education as other social skills cannot be developed.
1.2.3 Business Model
ODEM summarizes their services as a decentralized marketplace for educators to list classes and students to procure them. It provides in-person, on-demand short-to-medium-term education courses. A major focus of ODEM is providing access to the most elite professors on an international scale. The platform removes costly intermediaries and creates a direct environment for professors and students to connect, collaborate, and build curricula. The decentralization features provided by blockchain and AI would smoothen the matching processes and enhance efficiency, which further reduces the time cost.
In the long run, according to ODEM’s representative, they are building customized programs to create lifelong learning stored on the blockchain. They have programs in progress directly with institutions that would follow standard credits in the university. It allows students to customize a range of courses that they want to attend and be taught by elite schools’ professors. Instead of being pre-assigned by the university, they can choose the subjects that they really feel interested in or consider useful.
1.2.4 Process Flow
From the students’ perspectives, to use the services, they have to register to create a digital wallet that is connected to their fiat banking for easy transfer. Then, they would search for curricula by universities/locations, themes/topics, prices and other criteria such as translation services. If they cannot find the courses in the relational database, they can create their own program data and submit it for approval by educators. After negotiation over the price and content is finished, the smart contract would be initiated and supplier terms and conditions executed. Student certificates, entry badges, curriculum materials and other requested collateral would be automatically generated. When the course is finished, students would fill in a survey to rate the supplier to ensure the quality.
From the educators’ perspectives, to provide the services, they also have to register to create a digital wallet that is connected to their fiat banking for easy transfer. Upon receiving requests from students regarding new requirements, they would negotiate with the students and make sure the students know the terms and conditions. After the course material is adjusted and distributed, educators would receive the payment immediately.
1.2.5 Blockchain Application
ODEM employs blockchain and smart contracts to incentivize users to be good actors on the platform, enable immediate access to lower-cost education and ensure a fast, pain-free solution for payments across currencies. Details will be discussed in Section 1.4 Technical Features.
1.2.6 Business Partners
Existing business partners include
- KPMG Switzerland (legal and compliance issues)
- SICOS (support blockchain-based business models)
- Excelorators (provider of ODEM education programs, which is owned by the CEO of ODEM)
- 200 core professors and 600 educators for alpha and beta testings
1.2.7 Token Utilities
The tokens are mainly used as vouchers on the ODEM platform by educators and sponsors of educators to eliminate the platform fees incurred in using the software. It acts as the access key to the ODEM platform where educational services are listed, requested, and confirmed. The token itself jump-starts platform development and enables access to the community, which removes intermediaries that increase the end cost to students and take away inherent value from professors. As payment for courses is in fiat within the platform, cross-border payments are simplified and currencies are balanced internally.
1.2.8 Comments on Scalability
Demand for U.S.-based education has risen enormously with students from Asia, Africa, South America and the Middle East seeking access to traditional four-year colleges as well as providers of customized training and curricula. The industry itself is immense and full of potential. Yet, there still exist some obstacles for the scalability of ODEM.
First, it takes a lot of time in finding and forming new partnerships with famous universities besides the existing ones in Excelorators. The majority of students want to study courses taught by professors coming from reputed institutions. ODEM has to acquire both universities and students quickly due to the positive inter-network effect, in which both parties value the existence of one another. From our conversation, ODEM has an existing network of 200 core professors and 600 educators, which means it is relatively easier for ODEM to recruit new educators compared to other similar companies. We think that this number can further increase for a greater impact on the fully functional version. It is also important for ODEM to attract students in using the platform through different promotion channels.
Moreover, the coordination process, involving course content, requirements and resource allocation, is time-consuming. According to the team, they intend to incorporate AI to the system which can aggregate student demand for specific course subjects, market professors’ offerings, safely make conditional pre-commitments, and handle payments and disbursements when service criteria are met, which would be complicated when it comes to execution.
This section focuses on our comments towards the presale and/or crowdsale. All other related ICO information has been included in Section 1.1.2 Summary of ICO for reference.
1.3.1 ICO Structure
ODEM has included both Pre-ICO and ICO for their crowdsale.
For Pre-ICO, the price is fixed to be €0.0375 per ODEM. The minimum investment for Pre-ICO is 200,000 ODEM, which is equivalent to €7500. From our conversation with ODEM’s team, they have raised €2.2 million from the Pre-ICO. In other words, the maximum number of investors in Pre-ICO rounds is 293. For ICO, there is only one uniform price of €0.05 per ODEM with the maximum investment cap during the first hour being 2,000,000 ODEM. The cap will then be lifted.
The Pre-ICO tokens are concentrated in the hands of at most 293 investors. As they have obtained tokens at a much lower price than the ICO token holders, with unknown restrictions on the lock-up period, there could be risks that Pre-ICO token holders may dump their tokens in the market.
Another worth-noting fact of ODEM crowdsale is the token distribution where the crowdsale accounts for 60%; Company, team and advisors retain 29%; and bounty/rewards accounts for 11%. We believe that the high ratio reserved for the company and reward programme is one of the risk factors.
1.3.2 Involvement of Institutional Investors
The team fails to comment on the existence of institutional investors.
1.3.3 Post-ICO Matters
Regarding exchanges, ODEM is in discussion with several cryptocurrency exchanges, but has not yet announced which ones they will list on. ODEM will spend 30% of proceeds on platform development, 20% on sales and marketing, 20% on operations, 20% on supplier development and 10% on legal issues. Our team believes that such distribution is reasonable.
ODEM would not burn the unsold tokens and they believe that vast distribution of the tokens is important to ensure success internationally.
1.4.1 Overview of the technology
The ODEM model will create an integrated platform where all types of students and student representatives can create and request services for education programs. Educators and educational service providers can receive requests for program fulfillment and delivery services all through a frictionless, smart contract.
There are three main use cases of Blockchain technology. The first one is being implemented on a consortium network using the Quorom 5 codebase, an open source code base for launching enterprise grade blockchain networks based on Ethereum, but its participation is governed by a community. In the case of ODEM, this community would be managed through open collaborations with all stakeholders. The execution of commitments can be automated and community members will be rewarded for being good actors within the platform.
The second use case is the tokenization of ODEM, which is an ERC-20 token. It serves as vouchers on the ODEM platform used by educators to eliminate the platform fees incurred in using the software. With the launch of the platform, token-holding community members will immediately have access to software at a discounted cost, enabling immediate access to lower-cost educational services.
Lastly, to ensure a fast, pain-free solution for payments across currencies, ODEM will consider solutions such as Stellar as a method to implement the settlement use case most effectively. Stellar is an open source protocol enabling a blockchain-based cross-border payments solution proven to significantly reduce transaction costs and increase transaction speeds. It helps financial institutions and consumers eliminate inefficiencies and frustrations in current cross border payment systems, including high fees, slow processing, and error-prone transactions.
1.4.2 Development and Implementation of the technology
As mentioned in the whitepaper and company website, the development of alpha will be finished in mid-February while the first beta version will be available in mid-June. Around 800 educators have agreed on participating in both alpha and beta launches.
1.4.3 Checks on Current Development Work
To date, there is no information on Github for checking.
1.5.1 Brief History of the Project
Co-founder of Excelorators, Richard Maaghul, identified the rising tuition costs, student debt and layers of intermediaries, are the reasons to shutting out many prospective students. For many, higher education is neither accessible, affordable nor relevant to students with ever changing desires.
By making use of the blockchain and smart contract technology, Richard founded ODEM with the vision to create customized learning experiences and offer them directly to the market. The ODEM platform allows international and local students to take ownership of their education.
1.5.2 Current Progress
In mid-February, the alpha content will be ready and there will be provider listing for beta testing.
Existing partners include KPMG Switzerland (legal and compliance issues), SICOS (support blockchain-based business models), Excelorators (provider of ODEM education programs), 200 professors and 600 educators.
1.5.3 Future Plan
On the technical side, ODEM plans to launch the first beta version in June 2018. The finished beta version would be available by the end of 2018.
According to the team, there would be some major partnership announcements after the crowdsale.
1.5.4 Comments on the Roadmap
The roadmap is a bit simplified, which only lists the tentative dates for releasing alpha and beta versions. From our conversation with the team, they plan to release additional AR/VR content and supplemental video materials after the crowdsale.
1.6.1 Marketing Strategy during ICO – Targeting Investors
During pre-ICO and ICO campaigns, ODEM used social media to promote themselves, including Facebook, Twitter and YouTube. The responses given by the team are fast and detailed. They also used blockchain-related communication channels, including BitcoinTalk. There was also discussion of ODEM on Reddit and Steemit.
We have checked ODEM’s website for its sufficiency and consistency. It includes a professional video, links to whitepaper, social media and different communication channels. The investment registration form is also straightforward and user-friendly. However, the website is in English only.
There are a number of press interviews and news coverage. The interview with CNN increased exposure and creditability of ODEM.
1.6.2 Marketing Strategy after ICO – Targeting Customers
There is very little information on marketing strategies after ICO in both the whitepaper and company website. The backing by the successful business Excelorators and bounty programmes are the key elements for promotion. In the long run, the marketing focus might shift to new partnerships.
After combining the information from the whitepaper, LinkedIn and the website, 11 core team members and 3 advisors have been identified.
1.7.1 Core team members
Richard Maaghul, YSU
William Bayrd II, PHD, B.S
Michael Zargham, PHD, MSE
CHIEF SYSTEMS ENGINEER
Amit Garg, CISSP, PMP, MBCI
CHIEF TECHNOLOGY OFFICER
Gustavo Guimarães, BCL
Smart Contract and Blockchain Architect
Ken Finch, MBA
Global Business Development
Christopher Donville, BAPS
Director of Communications
Alexa Narma, BC
Marketing & Communications
Kirsten Montgomery, BBAM
Director of Finance and Resources
Asad ZAMAN, MA
Director of Sales Pakistan
Bowen Gao, BA
Sales – Emerging Market
Steve Jarding, PhD
Education and Leadership Curriculum Advisor
Ingo Fiedler, PhD, MBA
Blockchain and Economic Advisor
Sven Beiker, PhD
1.7.3 Comments on Team Information, Profile and Composition
We have checked the team profile from LinkedIn and other social media platforms for its sufficiency of information disclosure. All the team members disclose their connection with ODEM, while no advisor has indicated their linkage with ODEM. This is probably due to their multiple roles in the technology and education sectors. They represent a solid knowledge base for ODEM to build the platform.
The team composition is well-balanced with experts from business, blockchain and technology fields.
1.8.1 Availability of documents
The whitepaper and website are available in English only. As ODEM tokens are pre-mined, there is no need for a technical/engineering paper. Instead, in the whitepaper, it already covers a satisfactory level of technical details regarding the on-chain and off-chain activities.
1.8.2 Sufficiency and consistency of documents
For sufficiency and consistency, we have checked the whitepaper and the recent news releases.
The whitepaper has analysed the problems of the education industry nowadays, solutions ODEM offers to solve the issues, the technical details, a timeline and the process flows of the ODEM platform.
The content of the whitepaper and the news releases are generally consistent.
Market review and competition
2.1.1 Market Overview
ODEM is involved in two existing markets – traditional study trips organized by agencies and an online education platform using blockchain technology.
Traditional study trips organized by agencies
A research study from Statista points out that in 2011, there were at least 4.3 million students pursuing higher education outside of their home country. The number is projected to reach 8 million in 2025. This demonstrates the increasing mobility of students and their willingness to study abroad for learning other countries’ cultures. Going on study trips would be a short-term trial of the experience.
With reference to Educational Tourism, there are numerous benefits for going on study tours. They allow students to experience a foreign culture and learning environment for less than one month, which is highly demanded. Elite schools, especially those in the US and UK, are among the top choices of parents and students.
Online education platform using blockchain technology
According to Orbis Research, the global E-learning market is accounted for 165.21 billion in 2015, with a CAGR of 7.5%. Research from Global Market Insights Inc. also shows that the US e-learning market is having a leading role. Online education is being increasingly popular among teenagers as it is more convenient for them catch up on a specific subject or topic. Khan Academy, for example, provides lectures ranging from mathematical calculus to biological experiments. It becomes a lot more affordable for teenagers to learn from online resources.
Blockchain startups like BitDegree envisions to train up technical talents for employers by synthesis of the problems worth solving. Through this platform, students can better equip themselves with the technical knowledge that IT companies are looking for.
When narrowing down the definition of market to education platform empowered by blockchain, we have identified one key competitor – BitDegree.
BitDegree is a Lithuania-based blockchain startup which completed its crowdsale in Dec 2017 and raised around $22,500,000. All the tokens were sold out and it is not listed on any platform. The existing user base of BitDegree is around 29 million.
The business model of BitDegree is to let students acquire skills that are currently required by the labor market. The way to do it is not to ask business what skills they need in 3-5 years, but to respond to explicitly expressed skilled labor demand quickly. Businesses can recruit tech talents through the platform.
Both BitDegree and ODEM try to revolutionize the education industry and narrow down the gap between the needs of employers and student knowledge. We believe that the differences are merely two companies’ own choices based on what they believe to be the best fit for their product and target markets. BitDegree tries to provide online education whereby students acquire the technology knowledge required by the employers nowadays. For ODEM, they allow students to explore different areas that they are interested in through in-person experience.
Comparison table: ODEM VS BitDegree
|Part 1 – ICO Details|
|Pre-ICO Price||1 ODEM = 0.0375EUR||N/A|
|Price||1 ODEM = 0.05EUR||1 BDG = 0.0001 QTUM|
|Working Prototype||Beta releasing in Feb 2018||Fully functional|
|Minimum Investment||200,000 ODEM for Pre-ICO||N/A|
|Capital Raised||2,200,000 EUR
(From Pre-ICO only)
|ICO Date||Pre-ICO start: Sep 10, 2018
ICO start: Feb 17, 2018
|ICO: 1 Dec 2017 – 29 Dec 2017|
|Soft Cap||1,000,000 EUR||$5,000,000|
|Hard Cap||12,000,000 EUR||$30,000,000|
|Part 2 – Community Engagement Statistics|
*data collected as at 10 Feb 2018
The main edge of ODEM over traditional agencies organizing study trips is “transparency, identity and caliber” according to the team. ODEM’s use of blockchain will display the reputation and ratings of professors to ensure trust. This secures the quality of the courses. It is common that study trips do not deliver the services advertised. Regarding the costs, the decentralization and removal of intermediaries make them more affordable to students.
Compared to other competitors in the education industry using blockchain technology such as BitDegree, and online education such as Khan Academy, ODEM is the only one that has the actual in-classroom experience. It connects with professors directly to provide accreditation experience in the classroom, which is backed by online education to reinforce what they learn. The in-person interactive classroom allows students to develop both social and team building skills as well. Incorporating augmented reality classrooms in the future also serves similar functions.
Economy of the project
As ODEM is not a security token, the profitability of ODEM does not directly impact the trading price of ODEM tokens. However, we believe that assessment on the economy/ financials of the project is still of paramount importance due to the fact that the sustainability of ODEM can ensure the use and value of ODEM tokens.
2.3.1 Economic Model of the Project
As mentioned previously about the business model, the disintermediation can reduce the program fee by a decent amount. Thus, there is room for ODEM to charge a minimal platform service fee for price differentiation. At the same time, ODEM can charge extra advertisement fees such as putting a particular course up front to secure another revenue stream.
From our conversation with ODEM, they said they cannot reveal much information during their closed presale phase. However, the addition of blockchain to Excelorators, which is owned by ODEM’s CEO and has been profitable for six years, can further scale international education success. The existing network of 200 professors and 600 educators ensures the supplies of courses. This should be enough to satisfy the initial demand by the students.
Therefore, our team believes that, in the short run, ODEM has to rely on the proceeds from the crowdsale and funding from Excelorators.
2.3.2 Comments on the Assumptions of the Model
ODEM does not provide any assumptions for their company’s financials.
Different from traditional fund-raising campaigns, ICO relies heavily on the level of community engagement. The ‘hype’ of the ICO will be analysed in depth to better assess the demand for the tokens.
2.4.1 Analysis of Social Media/ Communication Channels
As of Feb 10, 2018, the statistics of different social media or communication channels are as follows:
|·||Twitter:||460 tweets; 2,032 followers|
ODEM uses Twitter and Telegram as the major communication channels. Twitter is used as a passive tool for ODEM to broadcast their latest news. On the other
hand, Telegram is used as an active tool for ODEM to address the questions of potential investors.
2.4.2 Analysis of Blockchain-related Platforms
Among the major cryptocurrency discussion platforms, ODEM has initiated discussion on BitcoinTalk, Reddit and Steemit. Similar to many other ICO projects, ODEM made an announcement on BitcoinTalk for its crowdsale, outlining the details of the sales and their contacts. There are also discussions on these platforms and ODEM replies to questions about their project regularly.
2.4.3 Analysis of News Releases
As of Feb 01, 2018, there are several news releases. One of them comes from a reputable news organization CNN, which helps promote ODEM to the public and makes it more credible.
There are also interviews the top management of ODEM.
2.4.4 Analysis of the Website
According to SimilarWeb, the traffic sources are:
According to HypeStat, there are 8,100 monthly unique visitors and 1.5 pages per visit. ODEM has traffic similar to most ICO companies and blockchain startups.
2.4.5 Bounties Program
Bounties and ODEM rewards account for 11% of the distribution of proceeds. The exact amount is unclear. The ODEM rewards incentivize marketplace participants and will be used at the company’s discretion based on economic conditions. There is no specification about the bounties program.
2.4.6 Comments on the Atmosphere of the Community
According to our team’s observation on Telegram, even though the number of followers is not very large compared to other successful ICOs, the potential investors are very optimistic about the project.
2.4.7 Comments on the Responsiveness of ODEM
The admins and team members are very responsive on Telegram. They are willing to share every detail of the project, ranging from the technical to KYC. The simple questions usually take fewer than three hours to reply to while the detailed ones take less than one day.
Reliability and feasibility
2.5.1 Check of prototype
To date, no prototype is available for checking. Alpha version should be released soon in mid-February.
2.5.2 Check of GitHub codes
To date, no GitHub code is available for checking.
2.5.3 Availability and responses of current user base
As there is no prototype for checking, it is hard to estimate the users’ responses. Yet, from their Telegram group, the potential users are satisfied with the idea.
2.5.4 Sufficiency of Resources
Our team judges the sufficiency of resources from three perspectives: team expertise, available capital and execution plan.
First, we believe the team has a good mix of expertise and background which includes blockchain, technology and business talents. This forms a good foundation to execute the project. Second, they have raised sufficient capital to build and operate its business from the presale with 2.2 million EUR. With the plan to spend 30% of the proceeds on platform development, we believe it is sufficient to at least support the launch of a fully-functioning platform.
Moreover, the partnership with Excelorators, which has been a profitable education company for over six years, ensures sufficient resources and market insights to help ODEM develop quickly. The 800 educators agreeing to join the alpha and beta tests ensures the supply of courses. Nevertheless, there is a lack of a detailed execution plan related to future development on AR/VR classrooms.
2.5.5 Potential Compliance Issues
As ODEM is not a security token, ODEM faces fewer legal issues related to ICO. However, in their business model, compliance issues might be a concern when ODEM is giving students certificates as different countries’ standard of academics are different. According to our conversation with the team, they have proposed measures to address this based on the expertise from their partner, Excelorators.
3.1.1 Differentiation with existing companies
ODEM offers the courses at a much lower price through disintermediation compared to traditional agencies organizing study trips while securing the quality and transparency of the source through the use of blockchain technology. ODEM is also the only blockchain start-up which provides in-person classroom experience with a customization option, backed by online education.
3.1.2 Idea’s disruptiveness
ODEM tries to disrupt the education industry with the help of blockchain and smart contract technology. Our team believes ODEM’s proposed platform addresses the exact pain points of the education industry nowadays, including soaring cost of tuitions and mismatch between students’ knowledge and companies’ requirements, that is students can choose the courses that they need at a lower price. The blockchain solution provides a new perspective in resolving the aforementioned issues. In the long run, we expect that blockchain technology can be a solution in changing the inadaptability of the higher education system.
3.1.3 Experienced and Diverse Team
From our in-depth research, ODEM’s core team members are the founders of the partner, Excelorators. Their experience in founding and operating Excelorators provides them with great market insights. They are experts with education, business, blockchain and technology developer backgrounds. Besides, their advisors are recognized representatives in the education field who could potentially aid the growth of the team and help achieve the goal of disrupting the education industry.
3.2.1 Limited community engagement from Facebook and Twitter
Despite the positive comments from potential investors in the Telegram group, the presence of ODEM in various social media is not satisfactory compared to other successful ICOs. The total number of followers on Twitter and Facebook is around 5,000, which is far less than, say BitDegree’s 100,000. Since ODEM’s platform has to recruit a lot of students for sustainable growth, public awareness is a key issue for it to be successful.
3.2.2 Pre-ICO and ICO distribution details
ODEM launched its Pre-ICO in December 2017. During the Pre-ICO, ODEM was sold to a maximum of 293 investors with the price of €0.0375. In other words, there is a small number of investors holding the token at a lower cost than the ICO price of €0.05. With unknown lock-up condition of the Pre-ICO round, our team identifies the potential dumping behaviour of early investor as a risk factor. Also, among the 293 investors, it is uncertain whether there exist institutional investors.
3.2.3 Unclear roadmap and lack of prototype
The alpha version is only available in February 2018, which makes it hard to determine whether the platform is well-designed or not. On the roadmap, there are only tentative dates for beta versions. Other development plans, such as AR classrooms, are not stated in detail on the website and whitepaper.
CS Score and Outlook
CryptoStandard Score (CS Score) is our unique approach to assess an ICO in an unbiased way. With thorough backtesting, we come up with the following 10 most reliable dimensions to evaluate an ICO. This rigorous model is supported by over 80 parameters.
The dimension, score and comments from our team have been summarized below:
|·||Idea||9.6||ODEM has a disruptive idea that addresses the real needs for higher quality and affordable education by making use of the blockchain technology and smart contract
|·||Competitiveness||8.4||As there are a number of existing operators that serve similar functions, a personal fit and real time approach can allow ODEM to stand out
|·||ICO||7.3||The ICO has reasonable distribution and allocation of token raised. However, there is no policy regarding token buyback and future offerings
|·||Team||7.8||ODEM has a solid team with expertise in blockchain, technology and business
|·||Community||6.3||There is limited engagement from Facebook and Twitter, yet there are great responses from the Telegram group
|·||Marketing||8.9||Various social media channels are available to provide information. CCN’s interview with the founder adds credibility
|·||Documentation||9.2||The documents provided are sufficient and consistent
|·||Financials||6.0||ODEM does not provide any financial figures to support its business model
|·||Reliability||6.3||The alpha version is only available in February 2018, which makes it hard to determine whether the platform is functional or not.
|·||Feasibility||7.1||The roadmap is over-simplified. However, with the capital raised, ODEM should have the resources to develop their business
With our in-depth analysis, we assign ODEM a CS Score of 7.8 and a Stable+ outlook. Our team believes that ODEM has demonstrated very strong expected business performance, strong market momentum, and several risk factors that could potentially be mitigated.
|Score Distribution Radar chart||Digital Widget|
Other important information
CryptoStandard (Global) Limited (CryptoStandard thereafter) is an independent provider of research on blockchain companies, ICOs and cryptocurrencies. The information contained in the report is for informational and educational purposes only. Readers should not treat any information contained in this report as investment advice. The views expressed in this report are solely personal stance of the CryptoStandard team, based on data from open access and information provided to us through Telegram, email or other means of communication.
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ODEM has a disruptive idea that addresses the real needs for higher quality and affordable education by making use of the blockchain technology and smart contract
As there are a number of existing operators that serve similar functions, a personal fit and real time approach can allow ODEM to stand out
The ICO has reasonable distribution and allocation of token raised. However, there is no policy regarding token buyback and future
ODEM has a solid team with expertise in blockchain, technology and business
There is limited engagement from Facebook and
Twitter, yet there are great responses from the Telegram group
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Education is a global industry. Worldwide expenditures rose to an estimated $6 trillion in 2016, with spending on higher learning forecasted to rise eight percent this year to $2.05 trillion. Year-on-year growth in demand is fueled globally by population growth and an expanding middle class in Asia and Africa. Despite prospects for increased spending, students face many hurdles and restrictions that reduce the accessibility to quality education experiences. Rising tuition costs, student debt and layers of
intermediaries, including universities, shut out many prospective students, ensuring that the highest quality education is overwhelmingly allocated to global elites. For many, higher education is neither accessible, affordable nor relevant to students with everchanging desires.
The ODEM platform has been made possible by the emergence of cutting-edge blockchain technology that allows qualified and trusted members of the education industry to create customized curriculum and experiences and offer them directly to the market. The ODEM platform further provides students with more choices for housing, transportation and other necessities. It allows international and local students to take ownership of their education. ODEM will facilitate live, in-classroom experiences, supported by online capabilities.
ODEM is more than just an education marketplace. Through Ethereum-based smart contracts, agreement between students and professors will be attained with the least possible involvement of intermediaries. The platform’s exchangeable utility tokens will act as a common currency to smoothen cross-border payments and to incentivize professors to keep their courses up to date and relevant. Our dream is making education from the
world’s top educators accessible to everyone
The birth of mankind
Something really big happened around this period of time. It affected all of humanity. That explains everything.
The birth of mankind
Something really big happened around this period of time. It affected all of humanity. That explains everything.
The birth of mankind
Something really big happened around this period of time. It affected all of humanity. That explains everything.