Frequently Asked Questions

Platform/Technology

What is the meaning of the EDU Token?

All services offered via OS University platform will be paid with EDU tokes and other cryptocurrencies. All users paying their courses with EDU tokens will not be charged for supporting our decentralized application. EDU tokens are going to enable also evolution of the platform to a multichain solution.

What technology is there behind OS University?

Our decentralized platform is based on the ethereum blockchain technology. As a back-end we are using packages with smart contracts divided by its purpose to contracts for courses/degrees, users (learners, businesses and academies), certificates and authorities. Only the most needed information is stored into these contracts and all the sensitive information will be encrypted and stored on IPFS which will allow full control and privacy. Our team also invented first of its kind middle layer of virtual nodes which will boost significantly the interaction with blockchain and will allow future multichain solution.

Why do you use Blockchain?

Blockchain is the right technology to immutably store people’s education, certification and achievements. Academia and businesses are driven by trust, and storing data in a fully traceable manner is essential for the Open Source University project.

Using blockchain businesses, learners & academia will be able to directly interact, without the need of a verified 3rd party.

How do you ensure security of token holders?

Securing our token and any sensitive information distributed over the Blockchain is our highest priority. We are making three-step security audits. The first step is a detailed internal test for any information security vulnerabilities like reentrancy bugs, ponzi schemes, manipulation of smart contract outcome, etc. The second step is security audit by authorized company and the third step is launching bounty program among white hat hacker community for fixing any left vulnerabilities after previous two step two steps of auditing.

How secure is your platform?

Security of the platform is one of the most important tasks we have. We divided the platform on two parts. First part of the security is entirely related to all off-chain elements of the platform. Second part is relate to the smart contracts and their interaction.

We’ve made every single layer equipped with independent security mechanisms, which means that even someone did succeed to hack our off-chain part of the platform he’ll not be able to do anything with it. All the information and relations will continue to be immutably stored into the blockchain and to be able to touch this information attacker has to be aware also of one of the two private related to owners accounts.

We easily can say that using standard cryptography it’s near by impossible to retrieve correct private key if we know the public one.

What data will be stored on the blockchain?

We can separate the data which will be stored in the blockchain to following packages:

  • Authorities - we’ll store two types of authorities (national authorities which can also delegate the authority to third party organizations and the second one is exactly authority which inherits the right to verify academic or business organizations)
  • Users - in this package we’re storing only most necessary information about the ration of this specific profile, relations to courses and degrees which are passed successfully along with such courses in progress. We are storing such relational data behind every user address (academy, business or learner) registered on the Platform.
  • Courses/Degrees - courses has attributes like rating, title, subject, academia which issued the course or degree. Every course contains also information if it’s verified which means if it’s issued by already accredited academia.
  • Certificates - storing data about grade of the student, specific skills gained, difficulty of the course which was passed etc.
Can I remove this data?

We’ve implemented mechanism to delete all the information from the new blocks only allowed for the owners of the information and owners of the platform. Still keep in mind that once stored into the blockchain the information is staying immutable (even if the information is deleted it will stay available in the previous blocks). That’s the main reason to store only public information into the smart contracts and no private data at all.

What courses will be available on the platform?

We’ll gather all courses and degrees which are already published on the e-learning platforms and all specific learning platforms launched by organizations and academies. On the platform we’ll store only the key parameters related to the learners experience like skills, grades etc.

Who can see my personal information?

Your personal information will be always with you and there is no any personal information written on the blockchain. To be able someone to see your personal information you have to allow access to it.

EDU tokens

What is the value of one EDU token?

Currently the private sale price is 1200 EDU = 1 ETH. In the token sale the rice will be 750 EDU for 1 ETH.

What is the minimum purchase?

Minimum contribution during the pre-ICO is 0.5 ETH and there will be no minimum during the crowsale period but the price of EDU token will be significantly higher.

Is EDU an ERC20 token?

EDU token is ERC20 compliant because it inherits all the ERC20 functionality. This statement easelly can be checked when you search by the address of EDU token in etherscan.io and in section Code Source you can see that it inherits ERC20 and ERC20Basic contracts.

Can I mine EDU tokens?

EDU tokens can't be mined.

Is the EDU token a security token or a utility token?

The EDU token is utility token which means that it is not a security and meets the following rules:

  • EDU Token owner does not have voting rights
  • EDU Token owner does not participate in any kind of revenue sharing
  • EDU Token owner does not receive dividends of any kind
  • EDU Tokens will not be bought back
Do I have voting rights if I own EDU tokens?

No, you don't have such rights over the decisions which OS University has to take.

Are EDU tokens transferrable?

Yes, as soon as the ICO has ended, EDU tokens will be transferrable immediately. During the tokensale the tokens will be locked and contributors will not be able to use or transfer them.

How will tokens be used?

EDU tokens will facilitate the connections in the educational systems between Businesses, Academia and Learners without any additional fee for the platform. All three participants will be able to use these tokens - Academia and Businesses can publish courses or programs while Learners can enroll in them.

How many EDU tokens will be sold?

A total of 34,800,000 EDU tokens will be sold during the pre-sale and crowdsale period. You can check in more details about the token distribution, which has been made in cooperation with our London based partners "Cobden Partners" ltd.

How will I receive EDU tokens?

You will receive EDU tokens right after going through the KYC procedure and after the payment has been made to our smart contract.

Where can I buy ETH?

There are many exchanges where you could buy Ethereum for fiat or cryptocurrency, these include: Coinbase, Poloniex, Kraken, Bitstamp, Bitfinex, Bittrex, Cex.io. Please send your purchased ETH to a compatible wallet for which you own the private key, before you make your contribution to the OS University.

Where can I buy EDU tokens?

In order to make a purchase follow the link.

Attention please, our website address www.os.university can’t be changed! If anybody (even a dev.team member or an official account with the same photo and shortlink) is telling you another address — then it is a scam.

EDU tokens will facilitate the connections in the educational systems between Businesses, Academia and Learners. All three participants will be able to use these tokens - Academia and Businesses can publish courses or programs while Learners can enroll in them.

When will your tokens be available on exchange platforms?

Right after the completion of the main token sale. Currently, we are negotiating with several most trustworthy and secure exchanges, updates will follow.

Token sale

What currencies are accepted in the crowdsale?

We accept ETH, BTC and fiat (bank wire).

How many EDU tokens will be generated?

EDU Tokens are limited to 48,000,000. 72,5% of these tokens will be sold during the pre-sale and the tokensale.

Are there any fees when purchasing the token?

No, there are no additional fees. In order to make a purchase you have to be certified with PICOPS and a small fee is included. OS University is going to reward you with a bonus of 50 EDU Tokens which cover the expenses of the certification process.

What will happen to unsold tokens?

Unsold tokens will be made available for users to purchase and exchange post-crowdsale in order to ensure sustainable token circulation and long-term scalability of our marketplace.

How will the funds be used from the token sale?

The main purpose of the tokensale is to raise enough capital in order to unleash the full potential of the idea and becoming a leading EdTech start-up facilitating the connection between educational and business industries. Our budget is allocated as follows: Development - 50%, Bsusiness development - 20%, Marketing - 15%, Regulation & Taxes - 10%, Legal & Administrative - 3%, Contingency - 2%.

When are the tokens distributed?

EDU tokens will be sent automatically to your wallet right after the successful transfer of ETH to our smart contract. For BTC as soon as the transfer is complete (and has 5 block confirmations) you will receive your EDU on the ETH address filled in your application. For wire transfers you will receive them as soon as the funds arrive in OS.University’s account.

What is the soft cap and the hard cap?

Our hard cap is 44 000 ETH and there is no soft cap because this project already has traction since the beginning of 2015 year and we have all necessary ingredients to succeed.

Will there be a lock-up for the tokens issued during token sale?

Yes, tokens are non-transferable until the ICO is completed.

General

How is this ICO unique? What problem are you going to solve?

Our competitive advantage is that we are building the world's first and biggest decentralized educational marketplace. The platform is missing peace that solves the following problems:

  • lack of trust in the gained certificates by the learners
  • lack of information among hiring specialists about the applicant’s interests and achievements
  • the need to prepare and constantly update your CV according the latest standards
  • time spent in searching for the right position corresponding with your interests instead of developing new skills
  • the need businesses have to find the right candidates using different social channels and hiring organizations
  • helping academies get a clearer view what the real demands for specific skills gained from their courses are
How are you going to solve this problem?

OS University provides a "digital credentials wallet" as a service to the learners/users without limiting to certain universities, fields of studies or courses. We have already proven our global mission to be on the right way as there are a few other key players who are developing projects which represents only some of the problems we recall, but locally. What we do is a global project.

When will the tokensale start and how long will it be?

The token sale will start on 4th June 2018 and end on 1st July 2018.

We are still going to save the right to start the crowdsale earlier and right after launching our alpha release.

Who are your clients?

Our clients are students or life long learners, academies and businesses. We avoid to focus on specific industry and we aggregate courses and degrees from all the different specters of knowledge. Another clients are academies for which we’ve implemented the option to be able to join even after some of its students.

The last but not least of our clients are all businesses which will be able to search for the right candidates via our platform and will be certain of their skills and knowledge.

As a contributor what is my profit?

EDU tokens are the most effective way to operate on the network and EDU holders will have priority access to exclusive offers. Token owners don't:

  • have voting rights.
  • participate in any kind of revenue sharing.
  • receive dividents of any kind.
Who are your advisors and how did you choose them?

All our advisors are listed here. They are a team of experts with great experience in their field - university, education, business development and strong ICO operation insight.

Where is the team based?

Our team is distributed, but the jurisdiction is in Sofia, Bulgaria.

What are ambassadors?

Our global ambassadors are proven professionals, experts in their field, who join us to be OS University representatives on-the-ground — in their respective universities, industries, communities.

Why did you choose the name Open Source University?

Because we believe that in the digital age, learners should be able to crowdsource their studies from different providers, instead of learning behind closed doors. We provide the platform solution to enable this process, hence the name - a decentralized, open-source 'University' on the blockchain that is formed out of many contributors, providing courses and learning pathways, adapted for and by the learners themselves.

Are there any restricted countries?

Yes. Due to regulatory restrictions US citizens cannot participate in the tokensale.

Is KYC mandatory? Should I register?

Yes. At OS University, protecting our investors and clients is a priority. This is why we decided to implement a standard KYC procedure for our Initial Coin Offering as well as a webiste registration.

How long does the KYC process take?

The entire process is automated and usually takes 10-15 minutes to complete. However when the Ethereum network is overloaded it might take up to a few hours, please be patient and don’t close the browser window.

If you have any difficulties with the KYC procedure please let us know and we'll be glad to help.

Where can I get updates on the status of the project?

For the most recent updates join our Telegram discussion or follow us on Twitter.

Visit our website www.os.university to see the rest of our information channels.

Is there an MVP or an alfa product?

Our alpha release will be launched before starting the crowdsale. By doing this we've decided to build trust to our supporters.

Please check out our telegram channel for platform updates.

What sets OS University apart from Coursera and edX?

Coursera and edX are aggregators of study material which is offered by universities worldwide. OS University aims to collaborate with such platforms in order and store all acquired skills and finished courses from there, while keeping track of the ongoing study process.

Do you have a bounty campaign? If yes where do I participate?

We do have a bounty campaign in bitcointalk. Join it here.

To register, simply fill out the following form.

I would like to meet the OS University team, is that possible?

Yes, it is always possible to have a meeting with anyone from our team when we are participating in events. Otherwise, you can meet our global ambassadors and advisors.

How will recruitment agencies benefit from your platform?

Our platform will lower recruitment expenses, save time and will also increase the success rate of new candidates.

How do the three parties (Academia, Businesses and Learners) benefit from using your platform?

Businesses will benefit from shaping candidate/employee expertise and from directly approaching their learning and development needs in a distributed manner. All “men in the middle” will be excluded from the picture, thus reducing business expenses, reducing lead-time, and increasing expertise accuracy.

Academia will benefit from scaling their audience (hence the economy of scale), gaining competitive advantage through modernization and automation of operations, combined with the customization of the educational experience.

Learners will benefit from receiving higher quality education (adequate to the needs of economy) and from directly approaching employers when it comes to matching the expectations with the individual learning and development profiles - all done directly through the Ethereum blockchain (without a middle-man).

How is OS University different from Linkedin?

One of the main differences between OS University and professional platforms like Linkedin is that based on blockchain technology we’ll give the ability all skills and certificates to be verified by the issuers which will bring trust and will build the necessary level of confidence in the businesses using our platform.

Will previous work experience be submitted on the platform?

Yes. This is one of the biggest strengths of our platform that even if the learner gained most of his certificates before the integration there will be no problem to upload these certificates and wait for approval from the authorities which issues the certificates at first place.

Newsletter Subscription



Don't miss out! Subscribe for news & updates:


X

You can change your email preference any time by clicking "unsubscribe" in your email.