Ntok: A new era in online education
December 5 marked the beginning of an ICO developed by Ntok.io — a decentralized global learning platform based on the interaction between tutors and students through an online platform using smart contracts.A feature of Ntok.io is that the platform facilitates students’ daily lives in the offline world, where the student should not only agree with the tutor about the lesson, but also visit them in a specific place, at a time specific. At Ntok.io, students can find a tutor on any subject with just a few clicks and can learn from them anytime, anywhere, with no geographic restrictions or time zone to worry about.
“Our advantages include reliable classifications of teachers recorded in the blockchain. Thanks to this, students can be sure that there is no forgery in the classification of tutors. A qualitative increase in the level of trust of the service, which means a powerful competitive advantage over other online schools, “says Maxim Shekhovtsov, CFO and co-founder of Ntok.io. “It is vital that we work without intermediaries. In traditional schools, a teacher receives perhaps $ 7 to $ 20 per lesson, while the school gets the rest. We create a path that increases efficiency: we do not rent a space for the classroom, our platform does not have sales managers, administrators, etc. That’s why we’re good with just a small commission, while students save money. “
The main ways of payment and obtaining advantages in the platform will be with the NTOK tokens all the payments of lessons will be made exclusively in these tokens. The cost of the services on the platform will be defined by the participants themselves, and so when the exchange rate for tokens increases, the prices denominated in tokens will fall, but will ultimately remain in the market.”We will make it possible to pay fiat money because we realize that this may be necessary in a conservative community of students and teachers,” explains Shekhovtsov. “However, we will charge a small 10% fee, but we will inform all participants how to buy our tokens and avoid paying this fee.”
In addition to paying for their own study sessions, NTOK tokens holders may also use them to purchase additional educational content and materials from Ntok.io partners. Special privileges will also be available to the owners of the tokens. Teachers will be able to move up the rankings and gain a larger number of students while students will have the opportunity to receive a 50% discount on the company commission and thus save a dollar on each lesson. It is in the flat commission that the project plans to make money: it will be only $ 2 per lesson in NTOK tokens. Part of the tokens goes to the operating costs of the platform.
Ntok.io is not the only platform in the online education field; platforms like Duolingo, Varsity Tutors and iTutorGroup operate alongside it. However, the founders of Ntok.io say that its main competitor is the off-line market, where currently 95% of all teachers and tutors are concentrated. Ntok.io wants to change the current situation and stimulate the mass migration of teachers and students to the online world. Experts estimate that, in the coming years, the online segment of this market will increase by at least 70%.
To make these plans a reality, Ntok.io has the most important advantage: a very strong team with enormous experience not only in the EdTech field (for example, the launch of the Online Ninja Tutor school to study English online, which is being successful), but also, retail, media, iOT, artificial intelligence and robotic technology. The core of the Ntok.io team includes Andrew Kravets (CEO and co-founder), Maxim Shekhovtsov (CFO and co-founder), Natalya Asenova (Director of Marketing and Sales) and Alexey Borisov (CTO). In addition, Ntok.io brought together a team of leading consultants between the managers of large international companies, ICOBox advisors and leading representatives of the crypto community, experienced entrepreneurs and founders of leading Internet services such as Auto.ru, HH.ru and KinoPoisk.
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