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The sooner our education system is digitally disrupted, the better
It’s difficult to measure the impact of higher education, either in a monetary sense or otherwise, although a few studies have tried. One recent study, involving 14,780 higher education institutions in 78 countries over six decades, suggested that doubling the number of Universities in a region results in a 4.7% increase in GDP per capita over five years.
Two main reasons were suggested by the authors – a rise in workforce skill levels, and improved research and innovation.
This is a vote of confidence for a higher education model that is coming under increased scrutiny, particularly as the cost of University tuition continues to balloon all over the world. In fact, OECD countries are currently spending an average of 1.6% of their GDP on higher education, up from 1.3% in 2000.
In light of continual increases in the cost of higher education, we must ask whether we might be able to achieve these increases in workforce skill levels via a different systemic path.
Recent years have seen the rise of various platforms that host what might fairly be called recreational educational content, such as Udemy, Udacity or even YouTube. These platforms offer opportunities for self-education, and although they may offer courses relevant to many professions, they can’t really be considered competitors to the traditional education system because their courses aren’t recognised by employers.
Tutellus, Miguel Caballero explains what needs to change in the digital education space:
“The traditional higher education system will only be truly under threat from digital disruption when employers recognise qualifications and courses supplied by digital platforms. This places the burden on platforms to ensure their courses are of sufficient quality”
Tutellus is a startup that is creating a platform with exactly this vision in mind. The Tutellus ecosystem integrates students and teachers with employers and is built on blockchain technology with two native tokens – TUT and STUT. The tokenomic profile of these tokens, as well as the platform’s revenue model, aims to create incentives around the production of students (graduates) that’re truly ready for a given job or career.
Students are financially rewarded for the time they spend on the platform; teachers keep the large majority of the revenue their courses generate as well as a cut off the fee paid by employers to hire one of their students; employers get access to a ready pool of keen, driven candidates.
The Economy and Beyond…
The study mentioned previously, unsurprisingly, showed that more higher education institutions results in a rise in workforce skill levels, which contributes to economic growth.
A more surprising finding of that same study was that an expansion of higher education systems was also associated with a greater prevalence of pro-democracy views among individuals.
Innovations that scale often have unintended consequences, and it’s hard to foresee how easier access to quality education could result in anything less than positive. We can’t tell exactly where things will go but what is clear is, the sooner our education systems are disrupted, the better.
Tutellus has partnered with Cryptonomos to conduct its ICO. The presale began on May, 10, the main sale on June 12, 2018. An early bird bonus of 10% will be made available to early participants.
DISCLAIMER: TUT public sale will not be open to citizens, residents or green card holders of the USA (including Puerto Rico, US Virgin Islands, and any other protectorate of the USA) or other representatives of the USA
For more information or to participate in the ICO, head to www.cryptonomos.com!
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