Using ethbox’s smart contract escrow service, English Forward plans to reduce the complexity of sending crypto payments on its English learning platform while ensuring all transactions are kept secure and private.
Strategic Partnership Will Focus On Improving User-Friendliness
Advancing in its path to empower every member of its community, one of the world’s oldest and largest English learning communities, English Forward is on the verge of deploying its Forward Protocol to encourage and motivate its community. The platform intends to tokenize English learning and teaching by incorporating a marketplace, job boards, and token-based tasks.
English Forward’s understanding of the evolving education ecosystem and early adoption of Blockchain technology has enabled it to be the first-of-its-kind English language portal. Its peer-to-peer marketplace intends to empower both students and educators by providing the platform needed to exchange knowledge.
By partnering with ethbox, a smart-contract-based crypto payment solution, English Forward will reduce the complexities of crypto transactions. The EdTech platform currently has over 300 million global users, and most of them aren’t familiar with blockchain technology.
With the integration of this smart contract escrow service, English Forward’s existing community can transact virtually without the risk of losing funds from mistyped addresses when using the Forward Protocol.
Blockchain Empowering EdTech
As global education and training industries expand into new, untapped parts of the globe, the corresponding pace of digitization is also accelerating, especially given estimates that total earnings for the EdTech sector are forecast to reach $7.3 trillion by 2025.
Although part of the shift can be attributed to changing learning trends, a demographic transition also underpins these figures. When implemented on a larger scale, blockchain technology can redefine the traditional education industry. Thanks to its innate characteristics, blockchain can reach all learners, empower teachers, engage and build an ecosystem of partners, and more effectively maximize learning.
English Forward, which already counts on UNICEF and WHO endorsements, first adopted blockchain technology in 2018. With the Forward Protocol deployment just around the corner, ethbox will ensure that the platform’s extensive community can be properly incentivized to participate, all while maintaining the safety and security of funds.
ethbox’s smart-contract solution will be used on the platform to authenticate a payment receiver’s address. Using a smart contract to validate addresses alongside two-factor authentication and a secure passphrase, ethbox’s integration with English Forward ensures users can avoid transferring funds to incorrect wallet addresses by verifying the entire transaction.
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