Tutellus ICO Review
Tutellus is a P2P education platform, offering tokenized rewards for both teachers and students.View ICO Website
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Tutellus Token Sale
05/10/18 - 09/30/18 (43 days left)Whitepaper Website
|Token Price||1 TUT = 0.0500 USD|
Tutellus GitHub Activity
Commits across all public GitHub repositories owned by Tutellus.
Tutellus ICO Review & Analysis
EdTech is an emerging industry, likely to become more and more prominent with the digitization of society. Current educational models are expensive, influenced by the interests of centralized organizations, and geographically dependent. Tutellus uses the power of the blockchain to connect teachers with students directly, while providing monetary incentives for students to learn.
What is Tutellus?
Tutellus has been operating since 2013, as a collaborative educational platform focused in the Spanish speaking market. The model is similar to Uber or AirBnb, but for education. As with these other P2P businesses, Tutellus takes out the middleman – one that often gets in the way of students’ motivation to learn, and the earning potential of teachers. The platform identifies four key problems in education:
- High cost for students, stopping those from low-income demographics from learning
- Lack of motivation for students, particularly on digital education platforms
- Teachers aren’t properly rewarded for the value generated by their students
- Education and employment levels are not correlated
Tutellus’ model attempts to fix this. While students pay a subscription fee for the platform and a cost for individual courses themselves, they are given the opportunity to earn from their course at the same time. Their interactivity in the course, project results and evaluations, application of course content and assistance for other students earn reward tokens, which can be exchanged at the end of the course for a market-tradable token. The amount of reward tokens a student can potentially earn from their course will equal the total cost of that course. Therefore, they can potentially take a course for free.
Teachers on the platform earn several different ways. They receive a large portion of course fees paid by students, and a percentage of subscription fees, equivalent to the time students spend on their courses. In addition to this, teachers have the opportunity to earn reward tokens for positive actions as part of the course.
The other key element of the Tutellus model is a recruitment network. Third party recruiters pay Tutellus for access to their pool of graduates, where companies can easily be connected with students holding relevant skills to the job. Of the fees paid by third parties, 30% is distributed between high-performing students in the relevant field, and 20% to the teachers who produced these students. The community is given direct monetary reward for talent they put out.
The platform also looks to implement scholarship programs. Organizations or individuals may offer scholarships for underprivileged students, or companies may provide education costs for students in their field of operation (e.g. a blockchain company may fund students to study blockchain development).
Two tokens are used by Tutellus – TUT and Smart TUT (STUT). TUT is the market-tradable digital asset. It can be used to pay for course fees (fiat payments are used as well, though payments with TUT give a small discount), subscription fees, and is the form of currency for third party recruiters. Tutellus and the TUT tokens are based on the NEM blockchain.
STUT is the reward token for students and teachers, which represents their value to the platform and the educational community. STUT must be exchanged for TUT before it can have any value outside the platform.
The Team & Roadmap
The company is located in Madrid, and as mentioned earlier has been working since 2013 on a simplified version of this model. The core team all hold over a decade of experience in several fields, including business administration, programming and marketing. An advisory team has been employed featuring mainly blockchain experts.
The Tutellus team plan to implement the core features of their token model in September 2018, shortly after token sale in June. Further development will be ongoing over late 2018 throughout 2019, with all blockchain and tokenization features planned to be complete by December 2019.View ICO Website