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How does the guaranteed funding work on Libereka
What is an edCoin?
An edCoin is the digital currency on Libereka and is used as a private crypto asset to provide Libereka Funding, Scholarships on the Blockchain, or other funding transactions as a part of the reward system on Libereka. edCoin is not traded externally or is not to be used as money to purchase anything outside the Libereka ecosystem at present. edCoins are limited and at present, only Universities can purchase edCoins directly from & through Libereka for providing scholarships on the blockchain.
How can I get edCoin funding?
Your edCoin funding is dependant on the following conditions: Verification: You need to have biometric verification completed on Libereka. Without the biometric verification, no funding (even if you are eligible) can be unlocked or received A confirmed admit: Libereka guaranteed funding, as well as the scholarship on the Blockchain, are dependant on positive outcomes of your University program application. The funding unlocks once you have an admission offer and you have paid the fee at the Un
Are edCoins transferable and will I hold them forever?
The Libereka edCoins are not transferable in any manner as the ownership of the digital currency will remain with Libereka at all times. While that is true, edCoins used to provide scholarships or funding will transfer such ownership to the University, students or organizations for a limited period of time. Any unused edCoins will be returned to the central pool of Libereka either after a certain timeline of validity or activity, or if they are reimbursed for cash through the scholarship or fund
Who can purchase edCoins and how?
Universities, graduate employers, not-for-profit organizations, NBFCs (non-banking financial companies), scholarship funds, and any other higher education enabling organization type can purchase edCoins directly from Libereka. All Organizations/ Universities will go through a sign-up and verification process (similar to the verification process in place for students) in order to then qualify to purchase the edCoins. Additionally, Parents too can purchase edCoins as a way to fund their child's