The LOL platform is the world’s first blockchain based MOOC++ model which combines the best features of traditional university online education programmes with the massive open online course model (MOOC) aimed at unlimited participation and open access via the web.
Bangkok, Thailand — EverClever Co., Ltd. (Thailand), an international education provider since 1998, in joint collaboration with the European International University, Paris (EIU) launched a blockchain based intergrated decentralised education platform, called the LOL, Learn OnLine Platform.
The LOL platform is the world’s first blockchain based MOOC++ model which combines the best features of traditional university online education programmes with the massive open online course model (MOOC) aimed at unlimited participation and open access via the web. The new LOL platform intends to address several problems of the existing online education, including affordability, academic dishonesty and high drop-out rate due to the lack of engagement.
LOL will integrate blockchain based smart incentives to ensure affordability of education and reduce the entry barriers for all learners regardless of their socio-economic background. Academic honesty and integrity will be guaranteed by utilising proof of study protocol with robust integration, execution and protection of learner database and records which will be publicly available via a decentralised ledger. LOL will also optimise learner experience through the implementation of privately secured smart contracts, which will enable learners to earn verifiable, internationally accredited certification and credentials.
The major problem of the existing massive open online courses — low completion rates — will be addressed with active participant engagement and personalisation of learning experiences which will closely replicate real-life classroom scenarios. Through the integration of gamification and learning analytics, LOL platform will deliver interactive and engaging content, with the utilisation of artificial intelligence and machine learning to help students choose courses wisely.
This innovative learning ecosystem will also feature its own native utility token, called the LOL Coin, which is built on the Ethereum blockchain technology. The LOL Coins would be used to access all the services provided on the LOL Digital Ecosystem.
"Blockchain in higher education will significantly reduce costs, increase transparency, empower learner to take a more active role in their own learning and development, and lastly, reduce fraud and academic dishonesty" said Dr. Edward Roy Krishnan, the concept originator of the LOL, Learn OnLine project.