about the esl industry
English has been the effective lingua franca since the ascendance of the British Empire in the 19th century. It is still used as a common global language to this day, and proficiency is especially prized in countries competing to export to the massive combined economy of the United States, Canada, Australia, Great Britain and Ireland.
This has created a global industry worth billions of dollars; in rich manufacturing centers such as South Korea, there are even celebrity ESL tutors making seven figures! Students from all over the world learn English from native English teachers—often traveling to dedicated schools overseas—forming a robust community with its own Meetups and conferences.
The industry is worth $80 billion.
(approximating growth from 2013 based on growth in number of English language learners)
Our team includes highly qualified ESL professionals with years of experience in the industry, and we are partnered with established ESL organizations. This includes one of the largest related Meetups and Facebook pages in the world, whose growing online community created the need for our upcoming blockchain-powered ESL app.
Bitcoin has revolutionized the world of finance, making it possible to send money to and from anywhere in the world cheaper and faster than ever before. This is especially beneficial to ESL students and teachers, who often face technical or regulatory barriers when trying to move needed funds between home and abroad.
All of it is thanks to blockchain technology, which works in an automated and decentralized fashion—that is, not controlled by anyone. Instead of a central database, transactions are verified and stored by equal members of a peer-to-peer network which anybody can join. Anybody who deviates from the communally-accepted transaction history is effectively ejected.
Far more than just keeping track of account balances, however, the blockchain can store all kinds of critical (disputable) information. This includes the terms of a contract such as an automatically-executed will (smart contracts), the owner of real estate or intellectual property (smart property), and a variety of facts, figures and other data about which people might disagree for profit or ideology.
ESL Coin & Framework
ESL Coin is the full application of blockchain technology to the ESL industry. In addition to providing a common means of payment, it will function as a decentralized autonomous database of ESL students, teachers and businesses. Smart contract technology will be used to assign reputations to users based on feedback from others, who will be initially verified by a blockchain-based ID system.
Anyone will be able to use this network to find ESL services or clients without paying hefty middlemen fees. Instead, what little fees exist will be redistributed as micropayments to native English speakers who help students practice, or else “burned,” which creates deflation (rising coin value) by decreasing the supply. This creates a stable ecosystem in which everybody is an equal part, and anybody can build their own apps using it.
- Students worldwide use ESL apps like Try English to help them learn and may optionally pay third parties for related services.
- Native English Speakers help students hone their grammar and accents and are rewarded with micropayments.
- Businesses & Professionals pay small ESL fees to the Network and are rewarded with new clients.
- The Try English D’App (decentralized application) allows users to interface with the ESL Network and directly facilitates services such as video chat-based tutoring sessions.
- Other D’Apps developed by third parties are encouraged to use the ESL Network for their own back end and user base.
- The ESL Coin DAO (decentralized autonomous organization) automatically moderates users and their reputations, who sign up via Try English and other d’apps.
- It collects fees in the process, which are all burned, given to Native English speakers, or paid to Ethereum miners for securing the network.
ESL Coin’s first decentralized app has its origins in the Conversational English Meetup group, which is one of the largest in the world with over 21,000 followers on Facebook (all organic). It also spawned related chat rooms on Skype, WhatsApp and KakaoTalk where ESL students practice English with one another and search for or share resources.
Over the years, however, our group outgrew existing chat platforms, many of which have serious moderation issues and none of which are dedicated specifically to ESL students. The Try English app will better facilitate English practice conversation with a variety of additional features, using the ESL Coin network to help connect them with schools, homestays and other services they may need.
Join the Network
At least 20% of all ESL Coin created will be given away to support the ESL community. Half of that will go to grants to community organizations such ESL Meetups, student clubs, and teacher organizations. These funds are expected to be used for the general welfare of their memberships and to reward those who do good work, with the only condition being that they join and earnestly participate in the ESL Coin Network.
The remaining 10% will be saved for third party app developers who wish to make their own partially or fully-decentralized applications on top of the ESL Coin Network. These will all have full access to the Network equivalent to Try English, which is developed by a separate company from the ESL Coin Foundation (a non-profit).
The ESL Initial Coin Offering is currently scheduled to begin January 15. So that no investors feel left behind, ESL Coins will be sold at a flat rate of 1000 satoshis throughout its duration (until February 4), and the bonus for the presale (still ongoing—email us at firstname.lastname@example.org to participate) is only 10%. Information about how to participate in the ICO is forthcoming.
The ICO begins in…
January 15 – February 4, 2018
Try English will be owned and maintained by a private company, while ESL Coin will be under the jurisdiction of the ESL Coin Foundation. Both are operated by the same team, for now, but that will not always be true, especially as third-party developers build on top of the ESL Network. Our team: