EDUCATION’S NEW ECONOMIC OPPORTUNITY

Digital Delivery Offers Hope of New Revenue Streams

ECONOMIC CHALLENGES IN HIGHER EDUCATION
Anyone associated with higher education is painfully aware of the
dilemma facing the traditional academic environment. Costs of delivery
(faculty, facilities, salaries and administrative expenses) in U.S.
colleges and universities over the last 20 years have exceeded all
expectations. The price of delivering University level education has risen almost 200% from 1997 to 2017 (in contrast to a 55.6% cost of
living increase).

The rising cost of tuition only has been exceeded by the cost of college
text books and hospital services. The American dream of education for
everyone has been priced out of reach except for the most wealthy or
those supported by scholarships or loans (which have saddled an
entire generation with unbearable debt). The competition for access to financial support has generated tremendous friction between faculties and administrations in recent years. “No confidence” votes by university faculty have risen substantially in proportion to the scarcity of economic resources. 1

Bridging the trust gap requires adherence to traditional academic
delivery models while embracing additional solutions which can
generate new revenue and preserve, rather than threaten, existing
revenue sources.

DIGITAL DELIVERY CREATES NEW REVENUE STREAMS IN HIGHER EDUCATION

“Behind the rancor is a competition for cash. Top tier schools continue to thrive but many universities are facing declining enrollment and public cuts in funding.” — Wall Street Journal

Much of the adversarial relationship between faculties and
administration in higher education stems from the resort to scarce
financial resources to generate alternative streams of revenue. The
either/or of MOOC online education vs. bricks and mortar instruction is
a classic example of robbing Peter to pay Paul. When financial
resources are shrinking, traditional expenditures are threatened if
university administration seeks alternative new revenue sources
However, without invading existing resources, universities can also
generate additional revenue with high quality pedagogy delivering
academic instruction “at the level of the Internet.” Hybrid Internet
delivered education is not limited to asynchronous on demand
instruction without instructor interactions with students. The power of
the “flipped classroom” demonstrates that higher value educational
content can be delivered combining synchronous, asynchronous, online
and on site instruction. This form of hybrid instruction can conserve
facilities, provide less costly and no less quality education at less cost
and with greater revenue potential. The both/and of digital and onsite
education can generate greater revenue and provide higher quality
education simultaneously.

For example, Vanderbilt Law School has launched the Program on Law
& Innovation to enhance the J.D. and LLM course offerings while
providing additional training to practicing legal professionals in vital
areas of legal innovation needed by the in the current disruptive legal
market. The both/and of legal project management, legal design
thinking, smart contracts and Blockchain in law can be offered to law
students for academic credit and to legal professionals for executive
education.

Financial resources can be expanded rather than simply constricted.
Technology empowers and supports these additional revenue streams
without invading the traditional university budget or compromising quality education.

ODEM.io was founded to realize these additional value based
educational goals. Blockchain based, providing sovereign identity,
digital capture of educational credentials and cryptocurrency fueled to
motivate behavior change, ODEM.io is the face of the future of
education for teachers, students and educational institutions.
However, that future is now.