Metis ($MTS) — Global trends suggest more government support for online education

The incremental value of education and reskilling to nation building is recognized by all major thinktanks and government agencies. Reskilling is usually administered to young students and working adults to allow them to contribute more to the society.

To support these initiatives and improve the livelihoods of their citizens, governments around the world have started a large amount of education related support for its people. Drilling down to World Bank data, this support increase is reflected in growing government expenditure on tertiary education as a percentage of GDP. Interestingly, this increase in significant in both developed and developing countries suggesting the strong need to remodel economies by workforce alignments.

Given the nature of digitalization and COVID issues, most of these learning is shifting towards online classes in the form of Massive Open Online Courses (“MOOC”). This is large to facilitate learning flexibility, speed and proficiency of students and of course, the ability to deliver to masses at a lower incremental cost.

Issues with MOOC education

However, MOOC education do come with its issues of student attritions. In general, MOOCS have seen its enrolment rate jumped but course completion rates have remained low at 15% or less for most course. This is a big issue as most students do not attain proficiency in their skill of choice, despite putting in time and effort.

Drop out rates for online courses are estimated to be 6–7 times higher than offline course based on several studies. Although students have the right intention to learn a new skill or acquire useful new knowledge, the lack of immediate benefit to compensate any opportunity cost of learning may hinder their motivation to complete their studies.

At Mentis, we believe that blockchain technology will help students align their academic aspirations with their immediate needs.

Mentis will share our comprehensive solutions gradually in our coming medium articles.

Join Metis today and together we can democratize the market for education and empower the masses through education!

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