Bitcoin. Blockchain. Bitcoin. Blockchain. Stock market reporters can't seem to go more than a couple minutes without mentioning these words and what is happening in the industry. Companies are jumping on the bandwagon like back a few years ago when small companies from every sector decided they were getting in the legal marijuana space.
What's intriguing is the fact that many people still don't even understand what bitcoin is or what blockchain is or the monumental difference between the two. betterU Education Corp. (TSX-V:BTRU) gets the difference and unique potential of blockchain technology, saying on Wednesday that it is getting into the mix, only with a twist away from the cryptocurrency that is all-too-often used synonymously with blockchain.
The Ottawa-based company is aiming to utilize blockchain with its own specialty of education.
betterU has developed a strategy to pioneer the advancement of an education blockchain ecosystem starting in 2018, tying it in with its global education marketplace for emerging markets. In the same way that blockchain is used to validate and store information in a decentralized ledger for digital currency (i.e. bitcoin), the company sees the platform as a way to validate education and experience credentials on a global scale.
As a simple example, employers looking overseas would no longer have to merely trust the word of a potential employee, instead the dataset would come from contributors that have participated in developing the individual's qualifications. When people talk about how blockchain technology can revamp how the world interacts, it is this sort of application to create reliable transparency and a global access point that embodies the potential.
betterU CEO and President Brad Loiselle penned an article published on LinkedIn that explains the concept in greater detail. Interested parties can read the article at: https://www.linkedin.com/pulse/thinking-through-education-blockchain-ecosystem-brad-loiselle/.
With about two hours left in the trading day, shares of BTRU are trading ahead four cents at 42 cents following the news of the new initiative.
