Tutellus Creates Decentralized Educational Platform Based on Blockchain Technology

Tutellus Creates Decentralized Educational Platform Based on Blockchain Technology

Jordana Sacks
  • Tutellus is the first decentralized and collaborative EdTech platform based on blockchain.
  • The project aims to transform teaching and learning for people all around the world.

Tutellus is an educational project with a difference. Ambitious, innovative, and enterprising, its overarching aim is to revolutionize the way we teach and learn.

The idea has been almost five years in the making. Beginning in 2013, the company behind it envisaged the platform as a tool for collaborative education, one that would match students with teachers to create an improved learning experience for all.

It wasn’t until 2017, however, that its founders realized blockchain technology could be of use to them. Decentralizing their model by tokenizing their assets, they adopted the NEM blockchain, using a four-layer model to create a truly one-of-a-kind platform.

The company has been clear in stating that it has no intention of creating a handful of millionaire teachers, but rather aims to make millions of ‘thousanders’ instead, explaining:

“We want to steem our market, to spread the richness in the community, tokenising it.”

Tutellus

The organizaiton is doing this with the TUT token: a 100 percent utility token which can be used alongside their Smart TUT to ensure user relevance. Through the adoption of this model, the company has been able to design a complete tokenomics workflow, which has proven highly popular with students, teachers, and companies alike.

This means that now, just a few short months after its inception, Tutellus has hundreds of thousands of users who are making the most of this blockchain marvel.

The primary goal of the platform remains the same as it always has: to pay individuals for learning. Already the leading EdTech ICO in the Latin regions, they now have their sights set on becoming the biggest of their kind in the world, so they’re able to spread this ethos even further.

For the educational sphere as a whole, this really could prove revolutionary, for as Tutellus states: “the more you learn, the more money you get, and the more relevant you become in the community”. Has there ever been a greater incentive to expand one’s academic horizons than that?

Featured image from Max Pixel

UAE, Saudi Arabia to Jointly Launch Cryptocurrency for Interbank Transactions

UAE, Saudi Arabia to Jointly Launch Cryptocurrency for Interbank Transactions
Francisco Memoria

The central bank of the United Arab Emirates (UAE) is reportedly working on a blockchain-based cryptocurrency with the Saudi Arabian Monetary Authority (Sama). The cryptocurrency is set to be used for interbank transactions only.

According to a report published by local news outlet Gulf News, the financial institutions will issue the digital currency to use it in cross-border transactions between both countries. The report quotes Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, who was speaking at a high-level meeting for global bank standards and regulatory and supervisory priorities for the Arab region.

He was quoted as saying that this is “probably the first time ever” that two countries cooperate on creating a blockchain-based cryptocurrency, and that regulators hope “this achievement will foster similar collaboration in our region.” He added:

It’s just a study between UAE and Saudi [Arabia] and have not gone deeper into it. We have not put a framework when the study will be completed and who will be involved from both parties.

Al Mansouri clarified, however, that the cryptocurrency won’t be seen by consumers in general, as it’s set to only be used between banks. Per his words, it will be a way to make interbank transactions “much more efficient.”

In a separate statement, the UAE’s central bank reportedly said:

CBUAE and Sama intend to execute a joint crypto-currency and Distributed Ledger Proof-of-Concept (PoC). The PoC’s design mainly focuses on the transfer of ownership of a central bank asset (crypto-currency) among participants.

Notably, the UAE’s central bank, as CryptoGlobe covered, has earlier this year warned against cryptocurrency scams, including money laundering and their use to finance terrorism or other illicit activities, but predicted electronic money would replace cash in the future. Saudi Arabia has also warned against cryptocurrency trading, as cryptos are outside of regulators’ reach.

The space has seemingly been growing in the country, however, as a new cryptocurrency exchange called Bitex was launched there last month. The new trading platform reportedly offers BTC, BCH, ETH, and LTC trading pairs.

Reports suggesting Saudi Arabia itself has been planning to launch its own cryptocurrency have been circulating since last month. Per the Innovation Center (SPARC) director of the Sama, Mohsen Al Zahrani, the crypto is set to be launched next year.