MetenEdtechX Education Group Ltd. (METX) stock prices were down 8.41% as of market close on April 15th, 2021, dropping to USD$1.96. Subsequent pre-market fluctuation, however, is seeing a 15.82% increase to push METX stock prices up to USD$2.27.
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METX’s Foray into Cryptocurrency
As a leading provider of omnichannel English language training services in China, METX announced at the end of March that it had commenced its blockchain technology strategic plan. According to this plan, METX will introduce Dogecoin on Likeshuo, a platform for foreign teachers, in the form of a reward mechanism.
First Stage of the Strategic Plan
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In the Preliminary Test Period, METX plans to incentivize foreign teachers with the Dogecoin reward mechanism based on their teaching performance. Teachers can also opt to undertake teaching and research tasks posted on the METX platform to earn additional Dogecoins. Students who complete their studies and share knowledge on the METX platform are also eligible to earn Dogecoins.
Second Stage of the Strategic Plan
In the Joint Development Period, METX will actively seek to collaborate with online education regulators and blockchain technology service providers. With this joint cooperation, METX hopes to establish a healthy ecosystem based on mutual benefits via the leveraging of the technological advantages of blockchain. METX also intends to facilitate copyright protection, verification of teachers’ qualifications, and the gauging of students’ competency indicators more effectively while maintaining their privacy.
Third Stage of the Strategic Plan
In the final Technology Integration Period, METX plans on integrating its resources and technological strengths; and applying blockchain, AI, 5G, and other innovative technologies to further change the landscape of online education.
Hopeful Future for METX
With these major ties to Dogecoin, METX stock prices are likely to fluctuate with those of Dogecoin. Seeing how Dogecoin is currently continuing to expand and consolidate its position as the world’s second-largest cryptocurrency, the future for Dogecoin and, consequently, for METX stock prices looks bright.