The Educoin is the first tested crypto education system that uses smart contracts in creating a dynamic block-transcript which will feed into a mastery transcript system. Currently there is no connection between a blockchain system and education incentive/reward systems. Educoin is the first system to date.
EduCoin: A new incentive system
The Educoin gives students a new incentive to engage with each other and earn currency they can use to invest in more learning. Students will be able to participate in the education market economy and earn educoin rewards through a variety of ways that enhance their learning. In iStudy, the Educoin is attached to mastery and competency badges that students can earn on reaching mastery at specific milestones using smart contracts also earn educoins.
The cryptocurrency, Educoin thus promotes students to enjoy learning through personalized parameters the teacher and students agree on. InventXR created the blockchain enabled mastery system to ensure an enjoyable experience for both students and teachers, and promote communication between both groups while also providing a way to assess and track for mastery.