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The Online School: Disrupting the Traditional Education

Carfax Education, the UAE based global education group, is raising $1 million in initial funding to start building the world’s first blockchain powered online education platform, The Online School. This private sale will enable Carfax to further develop the platform for launch in Q4 2022.

With a uniquely flexible model, The Online School will combine self-led learning with one-to-one tuition to make world-class education more accessible to a wider range of students internationally. Atiered pricing system will allow pupils to build a personalised learning plan, starting with access to interactive online lessons through to fully supported one-to-one tuition, which can be scaled up and down in line with their needs and development.

Carfax Education will be the first mainstream education provider to launch its own crypto token as part of the platform, incentivising students to earn as they complete courses and modules. The earned tokens can either be spent on Carfax services such as consultancy, additional tuition and extracurricular courses or withdrawn when the student completes a programme.

Initial stage funding is raising $1 million in private sale that started on 19th of January 2022 and will be open for 7 days.

Tudor Oros, Managing Director, Carfax Education, said: “We’re delighted to start the private sale to bring The Online School into fruition. Since the pandemic, we’ve seen a huge rise in demand for our homeschooling services as parents have seen the advantage of a more flexible approach to education and the benefits of self-led learning. However, homeschooling is traditionally a very expensive way to educate your child so we saw a gap in the market to create a model that makes this education system more accessible to students across the world, to fit every lifestyle, ambition and learning style.

“At Carfax, our aim is to provide pupils with access the very best education and prepare them for life beyond academia. Every student will have a mentor to guide them through their learning plan and the platform will give students access to online classes with the option of one-to one tuition to tailor every class to their needs and interests and inspire a real love for learning. We will also be providing lessons on life skills such as financial literacy, going beyond a traditional and sometimes quite restrictive curriculum.

The Online School is the first online education platform to use blockchain technology with a token-based pupil rewards system

“To fulfill our aim of making education truly accessible, we will also build in a charitable element, where each paying student funds the place of a young person from an underprivileged background. We will provide them with all the tools they need to complete their education online and work towards their further education goals. Our academic launchpad will enable pupils from disadvantaged backgrounds to access fully funded higher education places supported by Carfax and The Online School community.”

As part of this accessible model, Carfax will also fund online school places for young people from underprivileged backgrounds

With courses and lesson plans developed by a team of education specialists, including senior examiners, the platform will offer a blend of traditional and emerging subjects to prepare pupils for careers of the future and give them the edge when it comes to employment. The platform will partner with industry experts to deliver courses on blockchain, robotics, coding and more, with the range of subjects evolving in line with need and demand.

Carfax will use the initial funding to complete the platform build ready for soft launch in Q3 2022 with the aim to raise further funds over the coming months.

The Oxford Coin - $OXF

The Oxford Coin can be used to purchase any product in the Carfax ecosystem as well as partner organizations at any time for exclusive discounts. Our pupils will earn tokens as they progress through their programme of study by completing lessons and testing their knowledge through a range of gamified testing tools. Earned tokens are locked until graduation day.

The tokens will be deployed on Ethereum, Binance Smart Chain and Elrond for enhanced security, better access to cross chain liquidity and to enable inexpensive and quick pupil rewards allocation.

Tokenomics Rationale, Distribution and Vesting Model

OXF is an essential part of The Online School platform. It allows educators to incentivise pupils to engage with their education, widens access to world-class schooling through charitable work, and supports students moving on to higher education via the academic launchpad. OXF’s deflationary model takes a percentage of The Online School’s multiple revenue streams and transfers to rewards pools, liquidity, and locked wallets.

The Utility

Our unique Learn to Earn programme will enable pupils to earn tokens every time they complete a lesson and take the lesson specific quiz. The quizzes are graded in percentages and have 3 reward tiers based on which pupils will be awarded their tokens. Bonus tokens can be earned through finishing modules within specific time frames as well as through taking extracurricular courses available on the platform.

The Oxford Coin can be used to purchase any product in the Carfax ecosystem as well as partner organizations at any time. The tokens are released on graduation day together with a unique NFT certificate. Tokens can be transferred to an external wallet or used to pay at selected universities fees at discounted rates between 5% to 10%. The Online School is launching within the existing client network of the Carfax Education Group and its partners and aims to onboard 1M pupils by Q4 2023.

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