December 2, 2022

Jaipur: JECRC launches ‘Educash’ – Blockchain based digital token payment method

In this digital era, Blockchain and Web 3.0 act as the backbone and plays a vital role in this connected world. Any new technology tends to go through a 25- year adoption cycle, and we at JECRC University, have taken the initial steps to build an exponentially growing web3.0 ecosystem among the students. Along with top-class academics and brilliant placements, we aspire to grow at pace with new technologies and execute their applications practically among the students to add value to their knowledge. The Web3.0 technology incorporates concepts like decentralization and token-based economics.

JECRC started by initiating a web3.0 and blockchain community for the university and it also launched its first NFT in March and released it on JU Rhythm. To further build the student community many workshops were organized and industry experts were invited to campus to interact and share their experiences through which in a span of one month, JECRC with the help of JU Verse, the blockchain community of JECRC has launched  Educash a crypto token which is reliable for digital payment and it is wholly based on Blockchain technology. The primary focus of Educash lies in familiarising the students and other associated campus members with the concept of decentralized finance and eventually scaling up the token and converting it into a cryptocurrency coin which will validate major money exchange processes like academic or accommodation fee payments. This token- Educash is listed on waves.exchange and can be bought or sold over a wide platform. It will soon become a cryptocurrency the waves in the waves.exchange will start having its value across the globe.

Dheemant Agrawal (Director, digital strategies, CEO – JIC)  who is already part of various startups are now dealing with blockchain-based startups system through Educash.
Adarsh Kumar (digital marketing specialist) who played a significant role across many blockchain-related activities states that in the future digital payments like Educash will be more secure, transparent, and reliable. It’s a two-way communication process where no third party is involved. Users of Educash are guaranteed a secure method of payment with the lowest possible fee when compared to other options.

Educash will majorly contribute to developing India’s economy and infrastructure and make digital payment more safe and secure through Blockchain. With the installation of Educash at the JU cafeteria, the JECRC has already started the process of carrying it out, and the students are finding it to be incredibly trustworthy and friendly. It is not only limited to JECRC campus, or a handful of educational systems but will fledge its wings across the globe.

Finance Minister, Nirmala Sitharaman had once said the digital rupee, the Central Bank Digital Currency (CBDC) will be portrayed as blockchain technology and now this is happening and JECRC as an academic institution took the first step in building a community of metaverse, web3.0 and blockchain technology.

“Success is not final, failure is not deadly, it is the fortitude to persist that matters,” is a saying that applies here. It rightly fits JECRC as it is rebuilding, the upcoming digital generation by creating its own digital universe through Educash.