Future of education: “P2P economy”
This article is the fourth part of an analysis of the possible future of education. Links to all parts of the story are below.
4. P2P economy
In 2030, the world P2P economy has become mainstream and is currently a common way of living, studying, and working. Fueled by reducing operational costs and boundless connectivity, P2P exchange of services and goods has implied the disintermediation of the establishment in almost all industries. Regulations governing the old economy where effectiveness was increased, utilizing standardization and scale effect are no longer in force. Customer trust in key institutions isn’t high, while the decentralized network trades on trust and confidence. Such a “power change” from centralized to distributed models is reinforced by technology that supports confidential end-to-end operations and modifications in the role of residents from customers, to manufacturers and creators.
Regulatory authorities in all branches have tried to reconsider their part in the P2P economy. The reason is that ancient normative frameworks can’t propose solutions submitted by new P2P enterprise models. By 2030, the majority of professional and vocational training happens in the “alternative accreditation” space, in which the peer market evaluation systems prevail. At the same time they are beyond the authority of conventional education regulators, who concentrate their efforts on the formal education sector.
Technology for the masses
Smartphone ownership, a powerful launching platform for exchanging services, has achieved about 80% global infiltration in 2030. It has also shared ledger technology, like blockchain, underlie the P2P exchange economy. P2P economy currently provides the world economy with a steady and secure alternative to centralized systems. Studying online, via the rich, personified, and human to human experiences prevails over the higher educations and vocational training sectors. Mobile and ‘micro’ first approaches allowed studying to be incorporated into students’ everyday routines, rather than regarded as a single activity.
Different impact on official education
In this case, modifications in the field of education are less significant in the K-12 sector, where the framework of the industry remains unchanged. The comprehensive training program is still generally authorized by the state and kids to visit school and study in a classroom environment. Nevertheless, the P2P economy has released the collective imagination and IP of educators, providing the sharing and exchange of educational materials (for example, syllabuses, events, tests, etc.) in any electronic form. World platforms with deep search, guidelines, assessments, and translation capacity have led to substantial efficiency gains through the global teaching personnel and in most cases, encourage extra income.
Modifications in higher education are more prominent as brand strength shifts from institutional to personal. Students can control what and when they study, compelling the establishments to restructure their offers and delivery to meet the market requirements. People gather accounting data from a large number, and a wide range of suppliers restricts the rights of the massive multi-year establishments with package offers. Rather than facilitated by the organizational brand as a quality mark, pupils can also test the knowledge of world experts in certain areas, including branch experts and teachers. Micro-credentials are kept on the blockchain, and students create their own collection of appropriate knowledge, skills, and expertise.
Works and skills
A free market economy is at the height with over 50% of the global employable population considered as support workers. The world resource of intellectuals allows the organizations to alleviate the effects of acute skills shortage and provides an opportunity to adapt to fast-changing demands. The temporary staff also has to constantly re-skill, while the rapidly growing demand for efficient, flexible, timely, individualized and ongoing vocational training is filled by a world P2P learning market. Most of the market is served by contingent teachers, who form the majority of pedagogical staff at the universities worldwide. Dividing assets, such as skills and experience, is simpler and cheaper than before. Platforms connect students with specialists, public networks provide an opportunity for strengthening trust, payment processors deal with billing, while back-to-back evaluation system regulates the conduct.
Investments increase, and the price collapses
In this context, cost collapses in the higher education and continuous vocational training market, contributing to the further global requirement. Lower demand for costly infrastructure connected with organizational models and the reconsideration of scale sees “micro-education” payments and verification charges turning into a norm. Educational investment grows as innovation keeps providing both financial and learning outcomes.
If you miss some part or you like to reread other parts of this analysis, you can find all links below:
1sr part: Future of Education: “Education-as-Usual”
2nd part: Future of Education: “Regional growth”
3th part: Future of Education: “World giants”
5th part: Future of Education: “Robo Revolution”.
Based on the information from holoniq.com.
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