The key factor behind any successful online business is substantial web traffic. Even if you have the best shop in the world, it’s pointless if you have no visitors. However, when there are visitors, you can work on converting these visitors into paying customers. One of the top priorities for BitDegree right now is to build web traffic. And we are obsessed with it.

That is why we launched BitDegree Tutorials. BitDegree Tutorials serve three main purposes:

1. They get people familiar with the BitDegree brand and teach them that BitDegree is the best source of reliable information. 2. They increase the organic website traffic and expose us to more potential users. 3. These tutorials attract cryptocurrency beginners that might have never heard of BitDegree.

Another initiative is to charge no fees for the online courses in the beginning. Making the courses free for a limited time will enable us to convert website visitors into BitDegree learners more efficiently since people are more likely to try something that is free. Our vision is for students to try the BitDegree courses, get a positive experience and form a positive association with the BitDegree brand. The goal is for them to come back and become paying customers later.

When the BitDegree platform has a substantial flow of traffic and continuous learners, we will initiate our business model.

1. The BitDegree Token Economic Model

The BitDegree platform will accept only the BitDegree tokens as the mean of payment for the courses. In general, all of the transactions within the BitDegree platform will use just the BitDegree token.

The economic model behind the BitDegree tokens is straightforward — since there is a limited supply of tokens, there’s a constant balance between supply and demand. Demand for the tokens increases when more people start learning on the BitDegree platform, and this creates inflationary pressure on the BitDegree token.

BitDegree itself will not sell any tokens directly. Learners and token scholarship issuers will be able to acquire the BitDegree tokens from 3rd party exchanges where the BitDegree token holders will be selling them.

The utility of the tokens is simple:

Learners will pay for the courses with tokens;

Learners will pay for mentorship and tutoring with tokens;

Employers and donors will issue token scholarships so that learners have an incentive to take specific courses;

Learners will earn tokens for the courses that have scholarships available.

The BitDegree token will be attached to the courses once we have sufficient traffic.

Free courses tie into our obsession with traffic. While monetizing the courses from the start might seem like a great idea, it’s probably not. Having BitDegree recognized as a truly exceptional online learning platform with a large user base will allow us to gather more data, provide better courses and then expose the monetization system to a more significant number of users at the same time. Free services always attract more users and grow faster than premium ones.

2. BitDegree revenue streams

BitDegree is primarily focused on the B2C model — earning revenue from the customers once they make token transactions for the courses. However, the team is also working on the B2B and the B2G revenue models, where the BitDegree platform creates value for businesses and governments due to educating people.

During one of the conferences that we attended, some of the BitDegree team members have spoken with an ex-president of Mexico, Vicente Fox. President Fox said that there are 8 million young people in Mexico that are neither in employment, nor in education. Nobody knows what to do with them, providing a solution to this problem could be beneficial on a country-wide scale.

We see enormous revenue potential in launching several high-quality courses that allow people to acquire digital skills and get employed. However, we’re not blind to the situation. We understand that it takes more than merely having the right set of skills to be employed. Motivation and characteristics matter as well.

But this would at least provide those who seek education and a higher quality of life with a chance to better themselves. Starting positions like a junior developer, junior UX / UI specialist, customer support specialist, etc. are in high demand. After finishing one of the courses, a person could be employed at a junior level and grow from there.

Of course, education of troubled youth has been tried before. However, The game changer is that we can attach token incentives, we can help with the motivation of youth with a token incentive that is sizeable enough for them to start and finish a course. We would also aim to certify their achievements. During one of the conferences we attended, we had a similar discussion about Japan, and there is a company willing to do a pilot with 2 courses — cybersecurity and blockchain development.

Logical sequence of events for BitDegree development:

1. Launch the platform

2. Populate the platform with courses

3. Attach the token to the courses

4. Do skill verification

5. Give out “BitDegrees” together with tokens

Staying true to the lean startup philosophy, if we discover that our approach is not working, we will change it. Experimentation and quick implementation of different solutions will provide us with data necessary to find the right model for BitDegree.

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