Education Loans Are a Thing of the Past With Tutellus’ Innovative Study Approach
Over the last thousand years, evolution and change have been the only constants, with several ideologies, technologies, and philosophies getting updated and redacted with time. However, an integral part of a person’s life has remained the most unchanged over the years – education – which has only witnessed changes in study material, never in the process itself.
Earn as You Learn
Challenging the status quo is Tutellus, which aims to revolutionize the outdated education system by introducing a new paradigm in the teacher-student relationship, by creating a decentralized, earn-as-you-learn knowledge environment.
Founded in May 2013 and based in Spain, Tutellus is backed by years of working experience, alongside a large audience of one million users from 160 countries. Additionally, the company boasts a partnership with over 80 universities from across the globe which have contributed to the former’s 130,000 video-courses, a strong library of educational content.
Now, the firm is taking their prowess one step ahead, introducing a blockchain-based framework that can help both students and teachers earn money as they interact with each other, with an innovative protocol that remunerates teachers in proportion to the impact in the success of their students.
You can forget never-ending loan repayments and expensive college fees, as the Tutellus platform monetizes a student’s syllabus, and pays out to the learner as they progress.
Addressing Issues in the Current Education System
Tutellus’ ideals are firmly grounded in reality, as their core team has identified four main concerns in the current education system:
- People cannot earn money studying; they have to spend more instead.
- Students often lack motivation, so they often stop studying.
- Teachers cannot earn money depending on the value of the students that they generate, and are not fairly retributed for their efforts.
- There is a considerable gap between employment and education, with millions of jobs unfilled.
The online education market in 2016 was valued at $165 billion, with research suggesting an inefficiency in delivering quality content via online means to fully equip job-seekers. As it stands, the world produces over a billion jobs every year, yet 300 million recent graduates remain unemployed and in search of a job.
The Countermeasures and TUT Token
To counteract these issues in the traditional education system, Tutellus aims for the following:
- Creating an environment where students can earn money learning, without paying.
- Students gain the motivation to help others to learn.
- With the success of their students, teachers themselves get more value out of teaching.
- Companies can hire employees with a highly efficient matching process.
To facilitate these functions, the company’s native token, TUT, will serve as the platform’s primary currency.
Teachers and students can utilize TUT for purchasing services and products available on the platform, setting a governance model for the platform. Furthermore, the digital token itself is tradable with other fiat and virtual currencies and creates an open-ended ecosystem which facilitates learning as its primary objective.
Additionally, the platform will issue the untradable Smart TUT (STUT), which would support an innovative reward mechanism for high-achievers.
The STUT will be granted to users who contribute educational value to the platform and as a measure of the quality of their participation. It can be earned by completing tasks related to learning, or by helping other users to learn. Also, users with a high amount of STUT will be granted additional incomes regarding TUT, as an incentive for providing their expertise and time to the platform.
STUT versus TUT. Source: Tutellus
The platform is built on the NEM blockchain and utilizes the technology’s efficiency, speed, and scalability.
Salient Features of the Tutellus Platform
The platform relies on a four-layer architecture to ensure upkeep, immutability, and third-party support. Impressively, the decentralized application is multi-platform and will be launched for all major operating systems, i.e., Android, iOS, and web applications.
Additionally, the developers are working on providing open-source API to the network, and although this shall be partly available at launch, the roadmap suggests full availability by Q4 2018.
Four-layer Architecture. Source: Tutellus
Lastly, the underlying NEM blockchain shall store data records, user tokens and ratings, and educational content, in addition to any deployed smart contracts.
The project is currently in the pre-sale process, with the official token launch on June 12, 2018.
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