- EdTech leader English Forward is partnering up with ethbox to streamline crypto transactions.
- The collaboration will allow easy transactions and reduce costs for customers.
- The platform hopes to offer a more education-focused economy by offering innovative solutions.
ethbox’s innovative contract-based cryptocurrency payment solution will overcome English Forward’s hurdle of simplifying and securing seamless crypto transactions for the platform’s growing community of users.
Strategic Partnership Between ethbox And English Forward Enables Seamless And Secure Crypto-Transactions
As demand for remote English learning services expands in the wake of the pandemic, global English teaching platform English Forward is all set to roll out its Forward Protocol to incentivize its peer-to-peer community of educators and students. The platform will gradually expand the peer-to-peer services supported by this token economy by incorporating eBooks and educational institutions along with audio and video resources.
To ensure simplified, secured, and private crypto-transactions on its platform, English Forward, currently serving over 300 million community members worldwide, has partnered with ethbox, a smart contract-based payment solution. Given that many users of the forum aren’t familiar with blockchain technology, this partnership will significantly reduce the complexities involved with cryptocurrency payments.
The EdTech sector projects earnings of $7.3T by 2025 as global education and training industries reach more corners of the globe. Still, there is a significant learning curve involved with blockchain technology. English Forward’s partnership with ethbox will ensure its international community can rapidly transact virtually while avoiding costly transaction mistakes when using the blockchain-based Forward Protocol.
This first-of-a-kind initiative highlights English Forward’s understanding of the evolving education sector. The platform is positioning itself to cultivate a more significant and broader education-focused economy while empowering both mentors’ and learners’ access to the tools and skills needed to exchange knowledge.
EdTech Leverages Blockchain
Blockchain can positively impact students, teachers, and other stakeholders in the educational ecosystem if implemented on a larger scale. The rise in the number of schools, colleges, universities, and online institutes in the coming years will drive a concurrent increase in demand for scale, quality, and speed of English learning.
Recognized by both WHO and UNICEF for its excellence, English Forward is already preparing for the surge. The platform transitioned to blockchain technology in 2018 and is set to deploy its Forward Protocol to reach these ambitious goals thanks to the embedded scalability and on-chain token economy. However, despite blockchain’s potential, the possibility of sending funds to the wrong wallet address remains considerable.
To achieve the security level desired and improve blockchain ease of use, ethbox will work in unison with English Forward, authenticating the recipient’s address, along with a designated, secure passphrase. The two-factor authentication will help users retrieve cryptocurrency sent to the wrong address, making the entire process safe, even for users who aren’t familiar with crypto transactions.
This article was first published on coinquora.com