When we think about decentralisation of industries through blockchains, we think about sectors like Fintech, logistics or supply chain, creative industry or the power sector. Very few people think of decentralizing education sector, the industry on which the entire future hinges on. Online tutoring industry is huge and it is forecasted that it will grow at a compound annual rate of 6.7% between 2016 and 2020.
some students are spending hours a day traveling to private lessons on top of their school commitments. Meanwhile, the lack of a dependable online system means there is an imbalance in supply and demand, with qualified tutors in rural areas unable to offer their services to families in bigger cities.
NTOK is solving this problem by providing a platform where every student can find a tutor and every tutor can find a student.
What Is NTOK?
The journey of NTOK token started with Tutor Ninja in 2016, where they made a platform which had a successful business in the sphere of online learning. The platform had an individualistic approach to learning and a lot of grateful students. Later, in 2017, the platform evolved to NTOK, which was a blockchain platform for online education. It had peer to peer education with no intermediaries and fees, a transparent rating system and cross-border payments.
In 2018, the company is planning the launch of NTOK-X Ecosystem, which is the world’s first ecosystem for decentralized education and personal token sales. It can be used for learning new skills and book experts time at once, sell your experience to the wide range of stakeholders, launch your personal token sale and crowdfund to people with profit.
The technical infrastructure is specially designed for tutoring. The system offers high-quality video chat, interactive whiteboards, and a convenient file sharing component.
Their low prices are beneficial due to the elimination of middlemen and their fees, being non-core for online schools.
Satisfaction of the customers are generally very high and is verified by feedback from students. 8 out of 10 students agree to recommend the service to their friends and family.
Who Is NTOK For?
In the NTOK ecosystem, a user may participate in one of the 4 major roles:
- Tutor: The tutors in the ecosystem are users who are interested in providing services.
- Talent: Talents are the users who issue personal tokens in order to raise funds for one’s development.
- Student: They are the users who are interested in consuming services
- Hunter: Hunters are the users in the ecosystem who buys personal tokens
NTOK ICO Details
Price of 1 NTOK token during the Pre ICO is $1 USD while in the ICO it ranges from $1 to $1.2, depending upon the time of purchase. 1 NTOK token is the minimum purchase amount in the ICO.
The funds received during the ICO will completely be used for further development and expansion of the project.
- Operations – 13% (Reserves, refinancing, bolt-on M&A and other)
- Marketing & Sales – 80% (Including expansion in various countries and courses)
- Product – 7% (Including platform development blockchain implementation, the introduction of new courses and localization for various languages & countries)
Projects like NTOK shows the bright future of the education industry if we let it decentralize. Crowdfunding can easily be done for the best talents and normal students can get a personalized education through their P2P platform.
More details about the platform, its token and their ICO is available on https://ntok.io/ .