NTOK.io has created a new platform for delivering education opportunities across the globe. Why is that worth mentioning? The brand-new model, based on blockchain technologies, could help the project to get a fair share of the fast-growing online-education market.
The service enables students to get in touch with tutors for online teaching or training sessions, which is a perfect alternative for language of programming courses. Of course, the direct peer-to-peer model does not completely removes the need for commercial schools, study centers, and tutoring agencies, but for a lot of people this could be a perfect option, which makes education more affordable and accessible.
This couldn’t come at a better time as EdTech spendings will reach $252 billion by 2020. Online tutoring remains an untapped market, with only 3 to 5% of all tutoring taking place over the internet. NTOK.io is poised to reverse this with their unique service and ecosystem. No other company is offering live one-on-one tutoring and customized licensed content built on blockchain technology.
NTOK.io CEO, Andrew Kravets, Alfa Bank and McKinsey alumni, has aspirations to “change education globally, with a focus on moving it from offline to online.”
The technology is pretty simple. The blockchain architecture allows for a safe and secure experience, providing a system with 100% trustworthy ratings and reviews and a built-in cryptocurrency known as ‘ninja tokens’ or NTOK. The tokens can be exchanged for tutoring services on the platform, used for incentives and bonuses or traded for other well-known cryptocurrencies such as Bitcoin or Ethereum.
NTOK’s Initial Coin Offering (ICO) investment is set to begin on Jan 15, 2018 and end a month later on Feb 15, 2018. During this period, they will be offering promotional bonus tokens that have 10% the value of any investment amount.
We expect this promotion will help them reach the minimum ICO cap of $15 million. The team has managed to enlist the support and endorsement of several high-caliber advisors, including David Goldsmith of the Goldsmith organization. At a recent ‘Future of Robotics’ talk, Goldsmith was quoted as saying “We are not educating people fast enough to catch up to new knowledge.” This is the core problem that the team is addressing.
“David brings over 30 years of global expertise to the project. We’ll also have an opportunity to take advantage of the vast experience of his team. We’re looking forward to tapping into his expertise derived from consulting projects for many renowned educational institutions,” explained Maxim Shekhovtsov, the CFO of NTOK.io.
“Our model is innovative, but we recognize that incorporating the learnings of traditional educational institutions, as well as overall business best practices from more mature corporate players, will help us position NTOK.io as a trustworthy and globally-oriented education service provider,” added Shekhovtsov.
Other prominent advisors to NTOK.io include ICOBox CEO Mike Raitsyn and Susanne Morgan, Ph.D., a Professor Emerita of Sociology.
Susanne Morgan believes that “the global nature of the learning environment is something that, in the US or China, people are hurrying to catch up with. Institutions like brick and mortar colleges would invest in this for their students because they know their students need individual help, and institutions aren’t always able to supply it without great cost.”
The alpha version of the NTOK software has been successfully trialed and the beta version launch is planned for June 2018.