Tutellus ICO Review — An EdTech Platform With 1M Students & A Mission To Battle Poverty
Tutellus is an interesting sort of ICO in that has been running as a full working platform since back in 2013. This is an online collaborative learning tool for the Spanish-speaking community across the planet.
They already have a million users in many different countries and a huge collection of video courses. The idea with this ICO is to fund an expansion and to introduce an ecosystem that uses their own crypto token.
The public sale of tokens for this project is scheduled for June 2018, with the pre-sale coming in May. We can discover the facts and figures about Tutellus by looking at their website and the documents on it, where the following details can be seen:
The information provided here is for informational purposes only and should not be seen as investing advice. Our opinions on this site are only that, if you are considering an investment into cryptocurrency or anything we speak about on this site, please advise a trusted financial professional first, before doing so.
Website: Tutellus
Token: TUT tokensHard Cap: $40 million
Payment Methods: ETH, BTC, XEM and more
Total Cap Size: 1.5 billion TUT tokensTechnology: Multiplatform APPs layer, an API microservices layer and a token layer, connected finally to the NEM BlockchainImportant Dates:
Private Sale: May 2018
Public Sale: June 2018
The ultimate goal of Tutellus is to solve some of the inherent problems found in the existing education system. They want to make it more rewarding and more motivating for both teachers and students.
In this way, students will earn while they learn, rather than just paying for it. Teachers will also be more motivated through the more efficient reward system with this platform.
Finally, the people working on Tutellus believe that it will also link in to the jobs market better than any current solution does. Indeed, one of their key aims is to reduce poverty levels in developing countries by empowering people who live there to enter the jobs market more effectively.
Project Use Case
The Tutellus White Paper explains how different users will benefits from this ecosystem. For a start, it shows that students can benefit by receiving tokens by actively taking part in the course and asking questions etc.
The benefits for the teacher are also important to note. These include getting a steady income stream that directly corresponds with the amount and quality of training that they carry out.
Businesses can also benefit from the stronger link to the real jobs market that the platform promises to provide.
Tutellus Team Overview
Based in Madrid, the team working on Tutellus has been working together since 2014. Their website shows 9 core members and 5 advisors.
The CEO is called Miguel Caballero. He has a background in Business Administration Management, founding Quoba, Neomedia, and MET in the past.
Javier Ortiz is the CTO. The site tells us that he has worked as a programmer for the last 25 years and has worked with the CEO since 2007. Carlos López is the Engineer, Javier Calvo is the Data Scientist, and Karolina Szymanczak works as the Designer.
The remaining team members are Jaime Zapata (Operations), Nacho Hontoria (Marketing Manager), Covadonga Fernández (Media Relation), and Alex Ginés (PR & Community).
The Advisors are listed as Eddy Travia, Miguel Solana, Oleg Poskotin, Yacine Terai, and Rene Lauk. These Advisors bring a range of knowledge and experience in subjects such as Blockchain projects and legal matters.
How Does The Token Work?
The TUT tokens can be used by students to pay for a course, with a discount given if they pay in this way rather than using a fiat currency. As the course progresses they can earn tokens depending upon how much they participate in the training and in the community.
Teachers will get between instant payment of between 70% and 85% of the price paid by the students to enter their courses. They will also receive an income from subscription fees.
What Do Investors Gain?
The hope for early investors is that the value of the token will rise as more people begin to use this platform. The projections from the Tutellus team suggest that over 10 million people could take 50 million courses in the next decade.
An early bird bonus of up to 10% will also ensure that funds invested go further for those people who get involved in the early stages of the token sale.
Opportunities & Risks
The idea of bringing Blockchain technology to the online education industry isn’t completely new. There are other teams working on similar ICOs just now.
LiveEdu and Open Source University (see our review here) are a couple of the other projects on the go. There are also existing training solution that don’t use a decentralized approach.
However, by focusing on improving the weaknesses that currently exist, Tutellus could identify a gap in the market where that they can exploit.
Naturally, the presence of other competitors doing something similar is one of the big risks here. The fact that the company has been offering online training for a number of years is certainly a comfort, even if it doesn’t guarantee that their ICO will be a success.
Final Thoughts
One of several training based ICOs around just now, the Tutellus team speak of lofty ideals. They want to help reduce poverty in the developing world by allowing easy access to training courses that help people to improve their future career prospects.
This is great to see and the fact that they have been offering a similar product for the last few years and working together is a very good sign.
On the downside, their team does seem somewhat light on the technical side of things are far as Blockchain development goes. This is also an area where there is a lot of competition.
They call themselves the “leading educational platform in the Spanish speaking world”. It seems from the White Paper that they intend to continue to concentrate on the Spanish speaking community — largely in developing countries — which could be the key difference that sets them apart from their rivals.
Originally published at cryptosis.io on May 1, 2018.
