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The future of education
Digital technology has completely changed the way we perceive the world. The way we interact with our friends, family, and the people around us is evolving. 20 years ago, a specific technological development was carried out in one week. Now, it's executed in less than 1 hour. This growth was made possible by incorporating computers and mobiles. Just to give you a better idea, the current world's population is close to 7.9 billion as of January 2022 and 60% have access to the internet.
So, if you compare how people communicate nowadays, the current ways are almost 100% online. Along the same lines, societies are also changing how they interact, where education has experienced a prominent change boosted by the pandemic.
Online academies have grown exponentially, forcing universities to implement online teaching models. This made streaming apps like Zoom grow by 200% in users in the last few years.
The main reason behind the growth of education is tied to the development of the country. Considering that many countries invest in this area, the World Bank categorised them into three groups:
1) Lower-middle income countries: Ghana, Honduras, etc.
2) Upper-middle income countries: Argentina, Bulgaria, etc.
3) High-income countries: Hong Kong, United States, etc.
Note: These countries were selected based on their recent participation in the "Programme for International Student Assessment."
In the picture above, you can see the correlation between basic skills, the different types of access, and the quality of these four categories.
Therefore, traditional education has two very important limitations:
1) The amount of time it takes to graduate.
2) The disproportionate value of a diploma.
We think that the true value of education should not reside in the certificate. Instead, we bet on the quality of the knowledge delivered and on the ability of students to embrace this content.
There was a study performed in the US where it compares how the number of students vs how long they remain in education centers. It clearly shows that test scores and economic growth are directly related. However, the number of years of education and economic growth are not.
So, the new era is digital, where self-education via online courses is gaining more traction over traditional education. However, online education has a lack of adoption and trust, which is represented in a very high dropout ratio. Researchers have a solution for this: Virtual Reality (VR).
Even though VR is still in its early ages, this technology is disrupting many industries, and education is one of them. With VR, people build trust because they feel closer to one another. This allows people to communicate more fluently. Users started using Google Meet/Zoom to work, and with VR they can now be immersed in virtual spaces to work, study, and even entertain.
Now, if we extrapolate this info into the crypto sector, we can see that this industry has one of the highest demands for professionals with very lucrative salaries.