Tutellus is a blockchain based, online Spanish education platform that aims to incentivize the opportunities for learning, teaching, and sharing valuable knowledge throughout the world.
While it is launching on the NEM blockchain now with its initial coin offering (ICO), Tutellus has been in operation as an EdTech platform since May 2013 and has an outreach of 1 million users in 160 countries, with over 130,000 available video courses already under its belt.
Tutellus’ decision to take its operation to the blockchain world was based upon the notion to expand its reach even further both in terms of technology and accessibility.
How Does Tutellus Work
Tutellus will use two different native tokens, TUT and Smart TUT (STUT), where the former will be used as the token that interacts with fiat and other cryptocurrencies on the platform, with the latter being the reward token used for incentivization of user actions on the network.
With the added functionalities that come through the usage of blockchain technology and its native tokens, Tutellus will be able to provide features that will allow users to benefit from transparent remuneration not only for teachers, but for students as well.
By allowing students to be paid for learning and taking classes on the platform – Tutellus will be bringing education to those who wouldn’t have been able to afford it otherwise, which is in line with its overall agenda. The main problems that Tutellus aims to solve are lack of education and job opportunities and the poverty which results from these issues.
Through the Tutellus ecosystem, qualified individuals who are not able to earn a living due to not finding jobs would be able to extend their skills to teach others through the platform, earning instant payments.
Whereas, the students who excel at their studies will not only be rewarded through commemorative grades, but would also be able to earn for their hard work so that they stay motivated and strive for excellence.
The platform will also double as a staffing platform where it would connect companies with these teachers and students so that they could hire the most able workforce according to their requirements.
About the Tokens
The two native tokens, TUT and STUT, are the core foundations of the network.
Tradable with other cryptocurrencies, the TUT token can be used to pay for courses by individuals who can afford the lessons easily. The tokens will also offer course discounts, as well as services for teachers, companies and donation.
On the other hand, the STUT token cannot be purchased and can only be earned within the platform by studying. It is a point of relevance for anyone who wants to build their portfolio on the platform, while also being able to partly trade their STUT for TUT, which opens doors to real world liquidity of the asset (exchanging STUT to TUT is limited to 50% of earned STUT during a course).
While the price for TUT will fluctuate like a usual cryptocurrency, the value for STUT is pegged at €1 for 100 STUT.
The platform will also allow scholarship programs for underprivileged students through donations by companies and non-profit organizations.
The Tutellus team does a prolific job of explaining the dynamics of the token through its whitepaper, which elaborates on the technicalities and provides relevant information in a concise manner.
About the Team
Tutellus already has an established platform and the outreach, registered users, and video courses mentioned available are all accessible through it. The same team is going to have the same information available on its blockchain platform in an improved manner.
The team has Miguel Caballero as its CEO; Javier Ortiz as its CTO; and Carlos Lopez as its Engineer, with each of them sporting decades of experience in their respective fields with established profiles on social media platforms.
About the ICO
Tutellus had its pre-sale started on May 10, 2018, which will continue till June 11, 2018.
After that, the public sale will go live in which investors will be entitled to bonuses until July 2.
The total supply of TUT is pegged at 1,500,000,000, with the total allocation explained as outlined below:
- 60% to Token Sale
- 20% to Pool
- 10% to Team
- 10% to Bounty & Advisors
The public sale is scheduled to go on until July 12, 2018, with a hard cap of $40 million.
DISCLAIMER: TUT public sale will not be open to citizens, residents or green card holders of the USA (including Puerto Rico, US Virgin Islands, and any other protectorate of the USA) or other representatives of the USA