Tutellus (TUT) ICO Review – ICO Token News
Tutellus aims to break the status quo, introducing a new paradigm in the student-teacher relationship with the creation of a new decentralized system to strengthen the commitment of both students and teachers. Tutellus is the first educational platform that pays students for learning (proof of learning) and remunerates the teachers according to their impact in the success of their students (proof of teaching). Tutellus.io solves the problems we have identified in a very simple way:
- 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.
Blockchain , most famously known as the technology behind bitcoin and other cryptocurrencies, makes possible the efficient implementation of the new educational paradigm proposed by Tutellus. At the core of the new system is the creation and management of digital assets, or tokens , that will become the foundation of a new reward system for students and teachers. Our platform will measure the commitment of the students and teachers, as well as the educational value that they provide in the platform, and will provide a measure of relevance through an internal STUT ICO token. This system will also include functionalities associated with transactions, governance, and access.
The main objective of Tutellus is to create a new educational model that answers to the challenges of the market: train and identify the most committed students, increase the involvement of the best teachers, and strongly tie an educational community – the student body and teacher faculty – to the job market.
Pulling people out of Poverty by paying and matching them with Jobs – Imagine a platform that help people to leave poverty behind. Tutellus plans to partially fund education for some of its students that are studying for available jobs.
Adding value to the Students – Imagine a platform that rewards the best students for their participation. The logic is simple: the better the training the student gets, the higher the value of the student for both the education community and companies (employers, job placement agencies, other service providers). This higher value of the student body stretches across the education platform to reach employers, and further into society as a whole.
Adding value to the Teachers – Imagine a platform in which teachers are rewarded for the excellence of their students: the more the students become relevant to the education platform and the job market, the more money their teachers will receive. Improving the students’ relevance will motivate the teachers, which in turn will significantly improve students’ motivation, the quality of the content, and the teachers’ commitment to their students.
Adding value to Companies searching for Candidates – Imagine a platform where companies may find the perfect fit for a position or contract. The platform will help students become more relevant to companies by creating a virtuous circle motivating the entire community of teachers and students. Students will be identified as job candidates by companies by their value in any specific learned skill.
The Token System
Such is Tutellus’s vision: a novel educational model that creates a new system of incentives by which all users get rewarded directly according to the value they provide to the community. This model is possible today using blockchain, and particularly NEM technology. The reward system will be built with digital assets or tokens, the currency that will be at the core of the market. The entire system will operate according to rules implemented as smart contracts, thus ensuring the full digitalization and the autonomous operability of the platform. The token system will be used for more functionality overtime: as a currency for buying products and services, serving as a measure of relevance in any skill, setting a governance 1 model for the platform, and interacting with other tokens. To know current trend of ICOs, you can check ICO stats.
STUT to TUT trades
The trade of STUT tokens for TUT tokens monetizes the relevance showed inside the platform, as TUT tokens can be later spent. The decision to trade STUT into TUT will take place after successfully finishing a course, and will be limited to 50% of the total number of STUT earned during the course. The trade cannot be done in the other direction: owners of TUT tokens will not be able to trade them for STUT. Reputation and relevance can only be earned through engagement in the platform and cannot be bought. The STUT to TUT trade decision is driven by two opposing forces:
- The willingness to cash out the value provided to the community, and
- The willingness to grow in reputation and relevance inside the community, measured in STUT tokens, which provide benefits in the long term.
The total number of STUT tokens in a course is one hundred times the price in EUR paid for the course and accounts for 100% of the price. Thus, there is a fixed exchange rate of 1:100 between EUR and STUT. On the other hand, TUT is a tradable token, and its price will be given by the law of offer and demand. By using STUT tokens as the only measure of relevance for students using Tutellus, we hope to reward those who choose to hold onto their STUT as opposed to trading them for TUT. The ultimate goal is to promote long-term commitment to the platform instead of immediate, short-term benefits.
- Miguel CaballeroCEO, Co-founder
- Javier OrtizCTO, Co-founder & Main Developer
- Carlos LópezBackend & Blockchain Developer
- Javier CalvoEngineer, Mathematician & Tokenomics Manager
- Karolina SzymańczakUX & Designer
- Miguel Solana
- Jesús Pérez
- Rodrigo de la Cruz
- Daniel Díez
- 1April 2013
The platform is launched with 2000 video courses
- 2January 2014
10,000 video courses and 100,000 users
- 3December 2014
Joint ventures with universities to create exclusive degrees
- 4May 2015
New platform: API-based with microservices
- 5October 2015
Over 50,000 video courses and 400,000 users
- 6November 2015
Tuitermachine and other self-produced growth products
- 7May 2016
Public API for affiliates
- 8September 2016
Apps published in Apple and Google stores
- 9February 2017
Collaboration with MIT on a deep learning project
- 10September 2017
Over 130,000 video courses and 900,000 users. Move to blockchain
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