Interview: Jonah Lau explains how Open Campus is transforming education into a ‘monetisable asset’
Open Campus is a DAO and community-led protocol building a decentralised education ecosystem.
Founded in 2023, it has set up a network that has already connected more than 50 institutions with over 20 million learners. To understand its first L3 blockchain built for education and how it works, Invezz spoke with Jonah Lau – Project Lead, Open Campus.
On addressing blockchain related challenges
Invezz: What are the biggest challenges for blockchain today, and how is EDU Chain addressing them to ensure security and scalability?
The biggest challenges facing the Web3 ecosystem revolve around security, unfounded government policies, interoperability, and scalability. While most of these problems are intertwined, Open Campus tackles the most pressing: interoperability, security, and scalability.
The EDU Chain is built with mass adoption in mind. The chain is built to help connect learners, educators, content creators, and learning institutions.
We empower learners by helping them secure their educational credentials through our Decentralised Identifiers (DIDs) and Verifiable Credentials (VCs). We believe these credentials will play a vital role in verification of qualifications as employers focus more on skill-based hiring.
The chain is scalable and interoperable as we build the most diverse, permissionless educational network. While we aim to transform education into a valuable and monetizable asset on the blockchain, we also create a network of educators, learners, and institutions.
On advantages of EDU Chain
Invezz: Can you explain how EDU Chain’s Learn-to-Earn model works and how it differs from traditional reward systems?
The EDU Chain is a concept developed on releasing the value locked within educational content. Our approach is the learn-to-earn model.
The model works by users participating in educational activities, such as courses, quizzes, or contributions to the platform through our dApp partners (learn). These activities are then verified and validated on the blockchain, ensuring the chain’s integrity.
Upon successful completion of these milestones, users will improve their earning capabilities and job prospects (earn).
This reward system is different from other traditional models as it’s focused on how education can evolve from just impacting knowledge to the unlocking of immediate value.
While mechanisms like Play-to-Earn incentivizes gaming, we are rewarding learning and the creation of learning materials. By doing this, we run a value-based chain that aligns educational activities with economic incentives.
Invezz: What specific benefits does EDU Chain offer to educational institutions and learners over conventional platforms?
Our chain is built with learners and institutions in mind. First, the Open Campus ID creates a virtual representation of our learners online. With this online ID, they have control over what information is associated with them online.
They can control and manage their academic certifications, skills, and achievements. This ID also grants them access to all Open Campus educational content, special offers, and exclusive courses from allied partners.
We also run the Open Campus Accelerator (OC-X), a $10 million community-driven initiative run by our DAO and funded by the Ecosystem Fund. This accelerator rewards educational institutions to build and integrate with Open Campus.
These institutions onboard their learners onto the EDU Chain, creating a network of educators and learners who can cross-pollinate on educational products and services.
Publisher NFTs is another important product. We believe these NFTs are a transformative approach to education. It enables educators and creators to monetize their intellectual property effectively and gain support both financially and through exposure from the community.
On future of blockchain for education
Invezz: How do you envision the future of education with blockchain, and what role will EDU Chain play in it?
The future is what we build today. Web3 technology has always offered new models of what the future may be. Education is our forte, and we are looking to capitalise on the fast-paced sector with EDU Chain.
We already have over 50+ educational partners reaching over 15 million learners. We have a platform that facilitates lifelong learning by breaking down the barriers of learning. With the EDU chain, access and inclusivity have never been easier.
Credentialing and accreditation are also hard-coded into the Open Campus ID, making qualifications, skills, and achievements immutable. We hope to be the foremost educational platform on the current iteration of the Internet, and EDU Chain is how we will achieve that goal.
Invezz: How do you see current regulations impacting blockchain adoption, and what steps are needed for mainstream acceptance?
At the current rate, regulations have become a key part of the blockchain discourse. Since the collapse of FTX and LUNA, countries have taken up stringent methods to regulate the industry. We believe that current regulations will only help secure investor confidence and boost adoption in the long run.
Regulators may need to create express and clear guidance on the laws that apply to different sectors of the blockchain ecosystem. Enforcement has been mostly arbitrary and based on old laws that may not cover the peculiar nature of digital assets.
Education is also important. Crypto has faced negative sentiment due to bad publicity from illicit activities. However, enlightening the general public on the benefits that blockchain offers will create a positive outlook. Countries like El Salvador have shown that this can be done effectively.
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