Problems within the traditional education system, across many different countries’, are numerous. The sector has shown little improvement in recent years, and there are still no models that allow students to earn money while studying, providing an economic barrier to many.
In fact, often it appears to be the opposite. Students or sometimes their parents have to invest in the education with the hope that those investments will be paid off in the long term. But who will provide an absolute guarantee that after graduating from the university the student will get the desired place of employment?
As a rule, many students are simply not motivated, so they drop out. All educational institutions have funds, and a framework, for financial assistance. However, even amongst those who receive assistance, few students are satisfied with the amount they receive.
Fortunately, we’re standing on the threshold of a digital revolution. Innovative technologies, such as blockchain and smart-contracts, are now well placed to disrupt many vital industries, including the education sector.
Blockchain technology offers reliability and transparency, thus offering itself a great solution for ecosystems, platforms and companies who deal with a considerable amount of information. But it won’t stop here.
Blockchain implementation within an educational ecosystem can solve issues relating to the stimulation of students’ interest. It can also facilitate the creation and management of digital assets, providing the foundation for a new reward system for both students and teachers.
Tutellus provides turnkey solutions for the online education market
Tutellus is an experienced player in the online education market, having first presented its EdTech platform in 2013. With more than a million users registered on the platform and more than 130 000 video courses, Tutellus is now aiming to join in with the “blockchain hype”. The platform’s blockchain-enabled solutions will integrate all parties (students, teachers and headhunters) within a decentralized system. CEO of Tutellus, Miguel Caballero, explains:
“We want to reimagine the student-teacher relationship, offering a first-of-a-kind platform that pays students for learning and remunerates teachers proportionally according to their impact in the success of their students. Tutellus also allows third parties and companies to use the platform for searching for the best candidates to fill a vacant post”
The Tutellus ecosystem uses two kinds of tokens: TUT and Smart TUT (STUT). The former, TUT token, is designed for clients to be able to purchase services and video courses on the platform. The students’ relevance and rating will be measured in the latter STUT (Smart TUT) tokens.
Supported by their partnership with Cryptonomos, Tutellus will launch its initial coin offering (ICO) in mid-May, 2018. A pre-sale of TUT tokens begins on May 10. During this period, Tutellus will provide users with a 20% bonus; the minimum purchase amount is 5 ETH.
The public token sale begins on June 12, 2018 and stays open until either July 12 or the hardcap of $40 million is reached.
Details of the Token Sale
- Exchange rate: 1 ETH = 15 000 TUT;
- Min. contribution: 0.05 ETH;
- Acceptable means of payment: ETH, BTC, XEM, LTC, BCH, ZCASH, DASH.
- Bonuses for early birds: up to 10%.
Tutellus also offers special bonuses for large investors that are discussed individually with every purchaser.
Tutellus plans to allocate the funds raised during its ICO to product and engineering (40%), sales and marketing (20%), publicity and PR (20%), operations (10%), security, loyalty and reserves (10%).
To participate in Tutellus ICO, visit platform’s website tutellus.cryptonomos.com and go through the Know Your Client (KYC) procedure to enter the whitelist.
Drawing the line
Although blockchain-enabled solutions are new to the education system, hardly anyone could argue against the potential impact they could make on individual institutions and the system at large. Whether education will continue to be slow to adopt new innovations or not, time will tell. Tutellus doesn’t think so.