By Cecilia Leong, Tueetor’s Community Manager.
As an employee plus a registered user (I’m a parent to 3 school-going kids) of Tueetor, I have to say the company’s dream to levelling up has fired the entire team’s imagination. Blockchain in education. An education economy operating via a digital ledger with cryptocurrencies and its own digital token. But what does that really mean for us, the end-user? For the tens of thousands of learners and the trainers/tutors/instructors/coaches?
Let’s Crunch some Numbers, Shall We?
According to 2017 estimates published by Global Industry Analysts Inc., the global private tutoring market will reach USD227 billion by 2022. Asia-Pacific countries comprising China, Hong Kong, South Korea, Japan and Singapore, occupy the dominant share consuming 58.7% of this total investment amount. Respected global intelligence platform for education HolonIQ also expects the global education market in general to reach USD10 Trillion by 2030.
In 2016 alone, Singapore households spent some S$1.2 billion annually on an industry that provides essential support services to families with school-going children seeking academic success and entry into the world’s most prestigious institutes of higher learning. And the economy continues to grow at an astronomical 17% annually.
Cue the world’s – and Singapore’s – first self-serve location-based learner-trainer matching platform, Tueetor, which launched in August 2016. We enable users to automatically connect and be matched with learners and trainers on all learning subjects. Just as AirBNB is a platform matching property owners and travelers, and Grab is a location-based platform matching drivers with commuters, Tueetor matches learners and trainers based on the set of criteria they submit – location, subject, level, qualification, teaching experience, budget, preferred time, etc. – all within a minute, guaranteed, on browser and via our smartphone app.
Picture This: the World’s First Education Blockchain to fuel Asia’s booming Skills-hungry Multi-Generational Learners
Private education and enrichment should no longer be considered a luxury in this time and age, particularly in our ultra-competitive Asian societies, and since our launch, Tueetor has a community of Learners and Trainers – YOU, numbering some 20,000, with in-roads made in our home markets of Singapore, Malaysia and latest as of December 2017, Indonesia.
Tueetor was founded to address the twin ‘social ills’ of the shadow education industry – that of accessibility, and affordability. As an open-marketplace platform, we have not only bolstered ease of access, flexibility, cutting down on opportunity costs and boosting productivity, but we’ve also helped thousands of skilled trainers with certified skillsets, to teach and train in the vocations and subject offerings of their choice, enabling them to turn their passion into recession-proof, freelance employment.
With lifelong learning becoming a core objective for Learners across all spectrums of society and borders, teachers and trainers will not only be needed for traditional students of school-going age, but for multi-generational strata of society as well. From fresh graduates to home-makers seeking to return to the workforce, to mid-career professionals and technopreneurs and entrepreneurs seeking to upskill, upgrade and upend or even contribute to the disruption caused by today’s latest proprietary technologies, Tueetor has a dream: the dream is to connect all these Learners and Trainers and in the process build the World’s largest Education Economy, Community and Marketplace. One that is accessible to all levels of society, irrespective of your place in the traditional education pyramid and geo-physical borders.
With Blockchain and Tokenisation, It’s Possible.
And we would like for you to be a part of this dream. As a startup that already has a working centralized business model in place, we are able to transition to a tokenized economy with ease. While there are many ways that a blockchain-based, tokenized business model can provide great value to its users, Tueetor will focus on building and refining a self-sustaining, self-governed community of Learners and Trainers, based on the amount of interactivity they generate and attention they get from other users on the platform.
We Are Mobile, We Are Social.
With a Tueetor crypto-token, a user will be able to pay to acquire products and services within and across physical markets, or be paid with crypto-incentives when he or she inspires user sign-up with referrals and even submit a validated review of a Trainer.
As a trainer, a user will be able to use the Tueetor token to pay for validation via the TueetorTrust Programme. You will also be able to connect with aspirational Learners to these TueetorTrusted Trainers; to partake of the long tail of skills-upgrading and private education and enrichment.
And who knows maybe one day with AI and VR technologies, one does not need to travel out of his home to teach or pick up a skill.
With an Asia-Pacific region that’s so mobile-dependent (up to 97% internet penetration rate in most South-East Asian countries for example), is extremely social and inter-connected, it gives Tueetor the ideal platform to build the first education blockchain economy for multi-generations of Learners, all connected entirely at a touch of a smartphone.
Tokenization will also allow Tueetor to capture all these transactions in a fully decentralized blockchain public ledger, so that it is transparent, clear and accessible to all in the community. As the number of users grow, the entire economy will be able to share in its growth via Tueetor-run Corporate Social Responsibility programmes like the (ongoing) Tueetor Startup Fund, Redeem-a-Dream, and Global Classroom; programmes which allow Tueetor to give back by sponsoring individuals and/or groups’ access to lessons and related resources they would not have otherwise had access to.
Global Classroom for example is an ambitious yet particularly meaningful project, aimed at providing isolated, rural areas of developing countries with localised, live and recorded video feeds and content, which could educate these Learners on subjects ranging from STEM (Science, Technology, Engineering, Mathematics) to humanitarian and soft skills. This will not only help change the lives of learning individuals for the better, it also fosters relationships, understanding between communities and countries where both trainers and learners reside.
It all seems like a truly ambitious dream, but will Tueetor as a company become tokenized? Will it issue its own cryptocurrency? All I can say is, register your free user membership with Tueetor https://tueetor.com/, and stay on this digital space to find out.