Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, today announced that the Company has initiated its blockchain technology strategic plan (the “Plan”) and will introduce a Dogecoin reward mechanism on the platform of Likeshuo for foreign teachers. Dogecoin is the second largest cryptocurrency in the world after Bitcoin.
The Company has divided the Plan into three major stages:
Preliminary Test Period
The first stage, which is the preliminary test period, the Company plans to introduce a Dogecoin reward mechanism to offer incentives to foreign teachers. Students can reward the teachers with Dogecoins based on their teaching performance and teachers can also earn Dogecoin rewards by undertaking teaching and research tasks published on the Company’s platform. In addition, students can also earn Dogecoins by completing their studies and sharing knowledge on the platform.
Joint Development Period
In the second stage, the joint development period, the Company will actively seek cooperation with online education regulators and blockchain technology service providers to build a healthy ecosystem of mutual benefit by leveraging the technological advantages of blockchain. The Company also plans to cooperate with 3rd parties to build an ecosystem to protect copyright, verify teachers’ qualification, record students’ competency indicators more effectively while better protecting students’ privacy.
Technology Integration Period
The third stage is the technology integration period, in which the Company expects to integrate its own resources and technological strengths, apply blockchain, artificial intelligence, 5G and other cutting-edge technologies to further revolutionize online education and provide students with high-quality education services.
About Meten EdtechX
Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and a nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.
The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.