EXB Coin White Paper

The Big Problem in Human Capital – Business Education and Training


“All government, non profit ,and prosperity depends on the innovation and determination of entrepreneurs.” – Michael Porter, Capitol Hill, Goldman Sachs Small Business Summit 2018

$2.9 trillion of Global GDP is lost every single year through the failure rate of Small to Medium Sized Enterprises1, made even worse by over half of all businesses created failing to reach their 5th anniversary2. Yet, $2.8 trillion is spent each year by Governments on Education18  With 99.9% of all businesses in the USA classified as SME’s19 clearly, something is broken.

Business Education is the life blood of any economy – underpinning entrepreneurial creativity, social mobility, wealth, and international or domestic trade through trusted relationships.

Globally, there is no unified Standard for people to trust. There is no consensus. Weakness in either entrepreneurial skills or business education creates distrust between participants, and a lengthy and costly need for 3rd party verifications to compensate for that lack of trust.

  • Traditional academic business education is expensive, lacks agility and speed in the knowledge economy and therefore struggles to keep up.
  • Learning-in-the-trenches business education through experience alone, lacks decision making rigour, poor risk planning, and disjointed management and struggles to get it right.
  • For Entrepreneurs or the entrepreneurially minded, lack of access to a trustworthy business education is a matter of survival in a fragmented, dysfunctional market.
  • Sources of business education and training are localized, unreliable and non standardized.
  • Employers cannot fully trust information contained in resumes and CV’s20.
  • Applicants for jobs, loans, funding, promotions cannot fully demonstrate their credibility in skills and competence, relying on subjective interview performance, or an ineffective algorithm in their credit score.

This means Buyers waste time and money choosing the wrong solutions, and Suppliers waste time and money recruiting unsuitable buyers. The lack of self empowerment and the lack of consensual trust can cause stress, isolation, bad decision making, and even dysfunctional communities – because the disenfranchised cannot be fully engaged and present, distanced from community life. The big problem is that before blockchain, these human capital issues were not comprehensively addressed by any unified technology solution.

There is a better way to deliver and leverage the benefits of business education:  by leveraging blockchain technology. Changing the status quo by just 1% is a prize worth over $29 Billion per year, every year. Changing the status quo transforms the unbanked and localized economies, national economies, and global GDP. Changing the status quo transforms personal credibility, personal prospects, and individual wealth. It changes lives.