Switzerland-based ODEM sold over 100 million ODEM Tokens in the sale that began Feb. 17. Proceeds will be be used to fund ongoing development of the blockchain-based ODEM Platform. A beta version of the education marketplace is scheduled for completion in the first half of this year.
“I want to thank everyone who participated in the crowdsale for firmly putting ODEM on the map,” says Richard Maaghul, ODEM’s chief executive officer. “We’ve only just begun to achieve our vision of making higher education more accessible and affordable.”
ODEM, which aspires to be the Airbnb of international education, is using blockchain, also known as distributed ledger technology, to streamline the organization and presentation of educational programs with an emphasis on in-person lecturing and learning. ODEM is creating a global marketplace where students, educators, and professionals interested in continuing education can come together and access in-person educational courses that are relevant to their careers now.
ODEM recently added two outstanding individuals to its strategic advisory board. Richard Wang, a Partner at Draper Dragon Fund, will assist ODEM in fostering new relationships in Asia with leading technologists, financiers and educators. Charles “Chuck” Eesley, an Associate Professor in Stanford University’s Department of Management Science and Engineering, will apply his expertise in identifying and implementing factors of success in the early life of technology startups.
“We’re excited about transitioning from capital raising to full-on platform development,” says Bill Bayrd, ODEM chief operating officer. “I’m confident that we have the team, the talent and the passion to realize the ODEM vision.”
The crowdsale was conducted in accordance with Swiss cryptocurrency guidelines.
All contributors to the crowdsale will receive their ODEM Tokens within the next week.
All unsold tokens will be destroyed, as the company announced on March 2.
ODEM is partnering with Cambridge, Massachusetts-based Excelorators Inc., a sister company, in the ODEM Platform’s design and rollout. Excelorators, with more than five years of education-industry experience, has existing relationships with more than 200 professors and lecturers who are likely to become the platform’s early adopters.
KPMG is ODEM’s legal advisor while SICOS (Lux) S.C.S. has provided ODEM with advice and counsel on the crowdsale and its structure.
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