The knowledge industry is one of the most overlooked and underrated industries in the world. While most economic systems recognize its value, not many understands how to utilize the vast potentials at this industry’s disposal.
Formal education has always been recognized as the driver of the knowledge economy. However, formal education is highly centralized with widely differing standards of qualification, and lacks the tools to instantly verify if the students have truly attained the level of knowledge claimed. The system is also marred by high tuition fees, reputation bias, and reliance on paper qualification.
The shift towards a distributed and decentralized system is adding value and increasing flexibility within this industry, while reducing costs. Information and communication technologies have made it easier for the dissemination of knowledge from anywhere and by anyone. People are now more willing to share or contribute knowledge, creating an abundance of data and information.