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BitDegree Places in 1 Million EUR Competition “Blockchains for Social Good”

BitDegree, a platform that offers “blockchain-based, transparent scholarships for education” as well as courses for learning all sorts of different skills, has been entered into a competition for participants to compete for 1 million EUR. This is thanks to their innovations within the educational and blockchain space.

According to a press release, “winning solutions are expected to address sustainability challenges, generate social change, and demonstrate options for a smoother distribution of information and resources.” BitDegree seems to have achieved just that, and is now a part of a total of 23 finalists in the competition. The company is competing in the “Aid & Philanthropy” category.

This competition is called the EIC Horizon “Blockchains for Social Good,” which brings to light and rewards those who are utilizing blockchain for good.

BitDegree appears to fall into this category for multiple reasons – the first being that lower-income users are able to learn via their courses. That, and thanks to blockchain technology, BitDegree reaches people from all around the world.

Of course, it doesn’t hurt that users who learn via BitDegree are paid for their very doing so thanks to the network’s blockchain incentives. “If the person completes the course in time, a blockchain certificate is issued and the incentive scholarship is transferred in cryptocurrency, allowing to break the financial barriers and reach the unbanked. Otherwise, the donation is returned to the sponsor, as defined in the smart contract.”

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