Blockchain technology is set to transform almost every aspect of our modern lives. Indeed, the effects of blockchain technology have already been seen in several sectors, notably the finance and trade sectors. Despite education being a key driver of development worldwide, there really hasn't been a blockchain project built within the realms of education. Better yet, education offers a sort of fertile ground for crypto adoption as millennials are the biggest crypto users. Nonetheless, Student Coin (STC) is set to change this narrative by creating a multi-university blockchain network that will link learning institutions across the globe, enabling them to interact free of charge.
Student Coin (STC) will link universities, student organizations, and entrepreneurs to help students understand blockchain technology, cryptocurrency, decentralized finance, and investments in the crypto space. Already implemented in over 500 universities across the globe, here is an in-depth look at the project.
Universities being a place of innovation and scientific/technological research need to be connected to transfer value. Student Coin was created with students in mind. The platform looks to tokenize the current education system via a valuable crypto coin enabling universities across the globe to interact and share value.
STC also looks to spur crypto adoption by educating students on cryptocurrencies and the blockchain technology as a whole. There is so much crypto potential in the education sector, which is yet to be harnessed. STC deems education as one of the fastest-growing sectors globally and requires the integration of blockchain technology to offer better value.
The project seeks to build a multi-university blockchain ecosystem that would link universities worldwide. Universities will utilize the Student Coin, specifically the STC Terminal to create Student Coin-based University tokens which will tokenize education. The university-specific token will attract utility and comes with immense use cases including voting, identity validation in exams and as a means of payment for tuition and library fees.
STC is developed by students for students. The project is currently being fronted by students, faculty members, and entrepreneurs from over fifteen universities, including Harvard University, Stanford University, London School of Economics, University of Oxford, and the University of Warsaw, among others. STC is fully supported by academic faculties as well as business persons.
Student Coin employs a hybrid blockchain approach. It's built on two blockchains: Waves and Ethereum. The Ethereum blockchain functions to support trading in exchanges for investors, while the Waves blockchain offers students the capability to create tokens specific to their university. To achieve this customization, university student organizations will access an open-source tool referred to as STC Terminal.
This tool enables students to create and manage their tokens as per their university seamlessly. For instance, Harvard University students can use the STC Terminal to create their tokens as Harvard Student Token. A university-specific token will be stored in the Student App and can be with another university token or STC on the STC Exchange. Students can also trade STC with other cryptocurrencies such as BTC, Waves, USDT, BCH, LTC, and WEST, among others.
Student Coin leverages Delegated Proof of Stake consensus (DPoS). It, therefore, cannot be mined. Instead, the token is distributed via airdrops and through a presale currently ongoing on the website. The presale will make possible the implementation of all phase 4 plans. You can read the entire development plan in the whitepaper.
Education vs. Token
The Student Coin ecosystem is widely categorized into two major sectors, i.e., the education sector and tokenization sector.
The education arm of the Student Coin ecosystem is concerned with teaching students everything on cryptocurrency and blockchain thanks to the Educational Section available in beta version on the website. Everybody is able to gain tokens for completing single parts of it. Students learn several aspects of blockchain technology, including tokenization, decentralized finance, and emerging technologies in the vast blockchain space. Also, the education sector seeks to develop an inter-university blockchain community to create blockchain awareness and also partner with student bodies in leading universities.
The tokenization sector is tasked with tokenizing universities by providing blockchain technology to universities. The technology will be used to create custom tokens, harbor data relating to students, and develop a global academic network based on Student Coin. The global Student Coin based multi-university ecosystem will be built using the below STC tools.
- STC Terminal - A software used by student organizations, schools, and universities to develop and manage their custom-made tokens.
- STC Exchange - A publicly available crypto exchange where custom-made university tokens can be traded with Student Coin (STC). STC exchange can also support fundraising by university startups, i.e., Student Coin Offerings (SCO), and also allows STC users to analyze its market performance.
- Student App - The Student App is a global mobile app for iOS and Android platforms. The app is an international Student Waller to enable students to store, trade, or use tokens created in the STC terminal for utilities at university facilities or online.
Student Coin Use Cases
Though still at the initial stages, STC has a wide range of use cases, and some will be added over time. However, the main use case is to tokenize universities via the STC Terminal and integrate blockchain to higher education. Other use cases include:
STC is a utility token that allows students to access essential services in schools. This is possible via the Student App, which is also a global student wallet. Student Coin can be used to pay for online lectures and webinars, pay for tuition fees, and pay for essential utilities and basic university life expenses.
STC ecosystem can support voting in that students can conduct internal elections directly on the platform. Student Coin can make student body elections efficient, faster, and transparent. Also, students can employ the project in signing petitions or voting in the project's development plan. Student Coin enables us to verify identity thanks to blockchain technology.
Student Coin enables students to perform fundraising for university-based startups or student organizations projects. Fundraisings can easily be conducted on the STC Exchange using Student Coin Offerings (SCO). The project brings into play a hassle-free and credible way of conducting fundraisers enabling students to fund charity projects within the school effortlessly.
Student Coin is a new frontier in regards to blockchain technology in the education sector. The project looks to implement blockchain technology in the education sector to tokenize higher education and create a global inter-university blockchain network. By tokenizing education, the project will revolutionize the largely traditional education format and enhance the quality of learning since students will acquire new skills through interaction via the STC multi-university blockchain ecosystem. Additionally, the project will create awareness on the blockchain technology to spur mainstream crypto adoption. In the future, Student Coin will make universities better suited to carry out innovations and conduct research for the betterment of the world.