A peer-to-peer (P2P) online learning platform is taking their system of education to another level, working to ensure they become a world-class shop for students and tutors.
The blockchain-based (NTOK) says that its network will raise funds for education and get rid of physical hurdles for both teachers and the pupils. This will offer an excellent learning environment that’s fully furnished with textbooks, as well as courses from prominent and most trusted publishers.
This idea is already in testing through the Alpha version of the platform, being used as an online school for the English language. NTOK executives said that they are receiving “rapid feedback” from various users to help develop extra features for the platform.
Even though the company has plans to concentrate in foreign languages, they will as well consider other offerings such as pre-school education, as well as additional learning for both primary and secondary school students. Also, the company will be looking at major courses in coding and Blockchain.
Developing market with obstacles
Going by Research and Markets research, the international private tutoring market is likely to grow at a multifaceted annual rate of about 6.7% between the years 2016 and 2020.
Theoretically, this means a better option for students, at the same time, higher demand for the tutors. However, NTOK claims that insufficient infrastructure and persistent stress on offline education is stymying potential.
This company argues that some students spend hours traveling to private lessons, which consumes much of their time within the day instead of spending time on their school commitments. In the meantime, insufficiency of a stable online system only means there is one-sidedness in both supply and demand, with skilled and experienced tutors in the rural areas not being able to offer quality services to families in the urban areas or cities.
Tokens, testimonials, and technology
NTOK will be using the Ethereum Blockchain, as a means of payment on the platform. Tutors with better balance will be compensated with higher search ranks.
NTOK claims that the feedback systems of some direct and indirect competitors are usually moderated, but the negative reviews are removed. As with most Blockchain start-ups, the firm anticipates its system will stop manipulation of feedback, thus allowing students to make informed decisions.
