NTOK (PreICO) ICO details
Start Date: 2017-12-5
End date: 2018-1-15
Peer to peer online learning platform Education is out of date in technology adoption with only a tiny share of the industry online. Our mission is to facilitate learning, in particular of foreign languages, through a peer-to-peer technology platform connecting tutors and students online.
Our solution provides the following:
- Online platform eliminating geographical borders between tutors and students through a cutting-edge technology with high quality video and audio
- Transparent and secure information on the experience and quality of tutors through ranking and reviews system built on blockchain
- Elimination of intermediaries between tutors and students, such as schools, and therefore significantly reducing the cost of lessons
- Study directly with a teacher without paying any intermediary fees (only the teacher’s fee)
- Full functionality of an online school platform, including video, voice, whiteboard, online scheduling and payment without any additional fee
- Access to the database of tutors on a blockchain with decentralized and secure reviews and rankings. Ability to rank and publish tutor reviews stored on the blockchain.
Tutor Ninja Token («NTOK») is a global decentralized ecosystem for continuing education aimed at allowing
tutors and students to interact via an online platform based on a blockchain.
The education market is rapidly moving from offline to online. Tutoring, one of the biggest segments of the education market, is forecasted to reach US$227 billion by 2022. Currently, online tutoring accounts for only 3–5% of the tutoring market, but is expected to grow fast and become mainstream in the fields of language study, preschool preparation, supplementary instruction for K-12 students, continuing professional education.
Distance learning with a tutor is expected very soon become a regular teaching and learning method across a wide range of subjects and topics. School and university students, adults, and parents will choose distance learning with a tutor as a way of gaining new knowledge or valuable cultural experiences, preparing for exams, improving professional skills, or just learning for fun. Over the next few years more than 70% of the tutoring market is expected to go online, creating a dynamic market whose value may exceed $150 billion in size.
The current tutoring market lacks innovation as:
- Most courses are offline and students are forced to spend valuable time traveling;
- Middlemen (commercial schools and study centers) take significant cuts;
- The few tutors who offer distance learning courses are usually forced to use Skype, which is not suited for educational purposes;
- It is hard to find a tutor to provide specific support for individual learning objectives;
- Students choose teachers on the basis of unreliable and sometimes fake ratings.
The NTOK platform is aimed at solving all these problems by developing an online tutoring ecosystem based on blockchain technology. NTOK’s key participants are tutors and students. Other participants include educational content and device providers who are interested in attracting NTOK audience’s attention to their products. The main focus of the NTOK platform is on foreign languages, other popular subjects and topics, preschool education, supplementary instruction for K-12 students, as well as coding and blockchain courses. NTOK makes it possible for tutors specializing in various subjects to join the platform. After completing a series of online lessons, the student can start working with a different tutor on the same subject, or he/she can study with several tutors at the same time.
The open nature of the platform means that the ecosystem will be able to expand rapidly. In NTOK, every student can find a tutor and every tutor can find a student. Unlike other “middleman” models for bringing students and tutors together, NTOK takes a minimal commission for direct contact: this makes it possible to generate interest in the service by keeping it affordable, to reduce the price of the service, and to attract a greater number of students into the ecosystem.
The central part of the platform is the NTOK crypto-token which is used for various purposes, mainly for paying for lessons by students and earning income by teachers and content providers.