world’s first ecosystem to tokenize your talents ecosystem ... white paper.pdf · with blockchain...
TRANSCRIPT
World’s first ecosystem to tokenize your talents
Ecosystem for private tutoring and tokenizing talents
Project deck ver 2.3
2
CEO Letter
Dear partners,
The white paper documents what is the NTOK ecosystem
for tutoring and tokenizing talents.
The statement aims to our token holders, current and
potential ones. The token sale, in turn, is a way of financing
the next stage of the NTOK development, our experiment
with blockchain in the tutoring segment of EdTech. Surely
is also a marketing campaign to attract a broader cross-
border audience of the product itself.
We have already had a working business model and a
platform, grown up into a global project. The NTOK team
is confident in the token sale outcome and welcome you to
join the NTOK ecosystem in one of the roles offered.
Kind regards,
NTOK Chief Executive Officer Anton Mishin
3
Disclaimer
Executive summary
Market overview
— Problem with the tutoring market
Product and the Blockchain infrastructure
— Product development
— Product current status
— Cast of characters
— Tutor and Student Challenges
— Description of the NTOK ecosystem
— Basic functions
Services and Knowledge Domains
— Verification of Tutors
— Personal Token Sale
— Internal exchange
The Token concept
— Token price
— Balance of personal tokens
— Types of transactions on Blockchain platforms
Partners
— Legal Partners
— Business partners
Architecture of the Solution
— Blockchain Technology
— NTOK API
NTOK Token-holders’ interests
— Liquidity of the token
— Limited offer of tokens with growing demand
Details of the NTOK Ecosystem Token sale
— Criteria of the token sale
— Offers for NTOK token-holders
— The team and our advisors
— Referral and bounty programs
Road Map
FAQ
Glossary
4
6
8
10
11
12
13
14
15
15
16
17
18
18
19
2021
21
22
23
23
23
24
26
26
27
27
27
2828
28
32
34
35
36
38
Table of contents
4
THIS DOCUMENT DOES NOT GIVE PERSONAL LEGAL OR FINANCIAL ADVICE. YOU ARE STRONGLY ENCOURAGED TO SEEK YOUR OWN PROFESSIONAL LEGAL AND FINANCIAL ADVICE
The NTOK Token White Paper (hereinafter — the «White
Paper») is presented for informational purposes only.
Nothing in the White Paper shall be construed as an offer to
sell or buy securities in any jurisdiction, neither a solicitation for
investment, nor investment advice. The White Paper does not
regulate any sale and purchase transactions of the NTOK Tokens.
The sale and purchase of the NTOK Tokens are governed by the
Terms of Sale.
Several estimates, phrases and conclusions incorporated in
the White Paper constitute forward-looking statements.
Such statements or information concern matters, involving
uncertainties and risks, which may result in material differences
from the expected results.
The White Paper may be updated or amended, with the latest
version of the White Paper prevailing over previous versions.
The organisation is not obliged to give any notice of the fact or
content of any changes. The latest English version of the White
Paper is available on the website (https://ntok.io). While the
organisation will make every effort to ensure that all data
submitted in the White Paper is accurate and up-to-date at the
moment of dissemination of the version, the proposed document
is no alternative to consulting an independent third party opinion.
The White Paper and related documents may be translated
into languages other than English. Should a contradiction or an
inconsistency arise between the English language version and
a foreign language version, the English language version of the
White Paper shall prevail.
Disclaimer
The White Paper does not constitute an agreement binding
the Kalex Group Inc. Kalex Group Inc, its directors, officers,
employees, advisers and associates do not warrant or assume
any legal liability arising out of or related to the accuracy,
reliability, or completeness of any material contained in the
White Paper. To the fullest extent permitted by any applicable law
in any jurisdiction, Kalex Group Inc shall not be liable for any indirect,
special, incidental, consequential or other losses, arising out of or
in connection with the White Paper including but not limited to:
loss of revenue, income or profits, and loss of data. Persons
who intend to purchase NTOK Tokens should seek the advice of
independent experts before committing to any action, set out in
the White Paper.
You do not have the legal right to participate in the NTOK Tokens’
public sale if you are a citizen, a resident (tax or otherwise),
or a green card holder of the United States of America (including
Puerto Rico, US Virgin Islands, and any other protectorate of the
United States) or other representative of the United States, or any
jurisdiction where the issue of the NTOK Tokens would be illegal
or subject to any requirement for registration, licensing or lock-up.
«A representative of the United States» means - a naturalised
person resident in that jurisdiction or any institution, organised
or registered in accordance with the laws of that jurisdiction. US
citizens living abroad may also be deemed a “US representatives”
under certain conditions. According to the laws of the United
States, citizens of the United States living abroad can also be
considered “US Representatives” under certain conditions.
You agree to purchase, receive and hold the NTOK Tokens at your
own risk and that the NTOK Tokens are provided on an ‘as is’ basis
without warranties of any kind, either express or implied. It is your
responsibility to determine if you are legally allowed to purchase
the NTOK Tokens in your jurisdiction and whether you can then
resell the NTOK Tokens to another buyer in any given jurisdiction.
You bear the sole responsibility for determining or assessing the
tax implications of your participation in the crowdsale, purchasing,
or receiving and holding the NTOK Tokens in all respects and in
5
No regulatory authority has examined or approved of any of
the information provided in this White Paper. No such action has
been or will be taken under the laws, regulatory requirements or
rules of any jurisdiction.
The regulatory status of tokens and distributed ledger technology
is unclear or unsettled in many jurisdictions. It is difficult to
predict how or whether regulatory agencies may apply existing
regulation with respect to such technology and its applications,
including the NTOK ecosystem and the NTOK Tokens. It is likewise
difficult to predict how or whether legislatures or regulatory
agencies may implement changes to law and regulation affecting
distributed ledger technology and its applications, including the
NTOK ecosystem and the NTOK Tokens. Regulatory actions could
negatively impact the NTOK ecosystem and the NTOK Tokens in
various ways, including, for purposes of illustration only, through
a determination that the purchase, sale and delivery of NTOK
Tokens constitutes unlawful activity or that the NTOK Tokens are
a regulated instrument that requires registration, or the licensing
of some or all of the parties involved in the purchase, sale and
delivery thereof. The NTOK ecosystem may cease operation in
a jurisdiction in the event that regulatory actions, or changes to
law or regulation, render it illegal to operate in such jurisdiction,
or commercially undesirable to obtain the necessary regulatory
approval(s) to operate in such jurisdiction.
Given that the NTOK Tokens are based on the Ethereum protocol,
any malfunction, breakdown or abandonment of the Ethereum
protocol may have a material adverse effect on the NTOK Tokens.
Moreover, advances in cryptography, or technical advances such
as the development of quantum computing, could present risks to
the NTOK Tokens and the NTOK Ecosystem, including the utility
of the NTOK Tokens, by rendering ineffective the cryptographic
consensus mechanism that underpins the Ethereum protocol.
As with other decentralized cryptographic tokens based on the
Ethereum protocol, the NTOK Tokens are susceptible to attacks
by miners in the course of validating the transactions on the
Ethereum blockchain, including, but not limited, to double-spend
attacks, majority mining power attacks, and sel sh-mining attacks.
Any successful attacks present a risk to the NTOK ecosystem,
NTOK Tokens, including, but not limited to, accurate execution and
recording of transactions involving the NTOK Tokens.
Hackers or other malicious groups or organizations may attempt
to interfere with the NTOK ecosystem and the NTOK Tokens
in a variety of ways, including, but not limited to, malware
attacks, denial of service attacks, consensus-based attacks,
Sybil attacks, smuring and spoo ng. Furthermore, because the
NTOK ecosystem is based on open-source software, there is a
risk of a third party or a member of the NTOK team intentionally
or unintentionally introducing weaknesses into the core
infrastructure of the NTOK ecosystem, which could negatively
affect the NTOK ecosystem, or the NTOK Tokens.
6
The current tutoring market lacks innovation as
— Most courses are offline and students have to spend much
time traveling;
— Middlemen such as commercial schools and study
centers take significant fees;
— Some tutors, who offer distance learning, use Skype that
does not cover many functions for educational purposes;
— To find a tutor with rare skills is often a challenge;
— Students choose teachers on the basis of unreliable
and sometimes fake reviews;
— Talents in some cases or on specific markets may not
have a chance to find and acquire skills and knowledge
or to raise funding to do this.
NTOK’s key participants are tutors and students. Other
participants include educational content and equipment
providers who are interested in attracting NTOK audience’s
attention to their products. The main focus of the ecosystem is
today on foreign languages. The expanded range of services
is going to involve other popular subjects and topics, preschool
education, supplementary instruction for K-12 students,
as well as coding and blockchain courses. NTOK makes it
possible for tutors specializing in various subjects to join
the ecosystem.
The open nature of the ecosystem means that the ecosystem
will be able to expand rapidly. In NTOK, every student can find
a tutor and every tutor can find a student; meanwhile every
talent has a chance to get an education he or she deserves.
Unlike other “middleman” models for bringing students and
tutors together, NTOK takes a minimal commission for direct
contact: this makes it possible to generate interest in the service
Executive Summary
The NTOK ecosystem for tokenizing talents is an evolution of
Tutor Ninja, a private tutoring operator serving thousands of
users, into a blockchain infrastructure for continuing, lifewide
education. The NTOK tokenization platform concept comprises
online schools, an online aggregator of private tutor services
as well as tutors and NTOK ecosystem partners’ services.
The standard private tutoring approach secures selected
tutor’s hours at a fixed price. The tokenizing talents concept
in addition introduces rules of trading by based on blockchain
Talent tokens, which are a sort of prepaid gift cards for the
“Talented tutor” hours / lessons to be provided in the future.
The Talent tokens may be an alternative utility to order a
Talent tutor lesson. An ecosystem user may buy, exchange,
or refund Talent tokens (based on blockchain) as well as use
regular functions of a private tutoring infrastructure.
The approach meets various expectations of tutors and
students. The tokenizing talents functionality particularly
provides an excellent opportunity for Talents to pre-finance
their personal development and for Talent hunters to support
Talents and earn on Talent token growth.
The education market is rapidly moving from offline to
online. Tutoring, one of the biggest segments of the education
market, is forecasted1 to reach US$227 billion by 2022.
Currently, online tutoring accounts for only 3–5% of the
tutoring market, but is expected to grow quickly and become
mainstream in the fields of language study, preschool
preparation, supplementary instruction for K-122 students and
continuing professional education.
Distance learning with a tutor will very soon become a regular
teaching and learning method across a wide range of subjects
and topics. School and university students, adults, and parents
will choose distance learning with a tutor as a way of gaining
new knowledge or valuable cultural experiences, preparing
for exams, improving professional skills, or just learning for
fun. Over the next few years more than 70% of the tutoring
market is expected to go online, creating a dynamic market
whose value may exceed US$70 billion in size.
7
by keeping it affordable, to reduce the price of the service, and to
attract a greater number of students into the ecosystem.
We have already created a centralized version of the NTOK
ecosystem. Currently, we are testing it as an online English
language school at tutor-ninja.com, which will become a pilot
project for a new decentralized model for interacting with
centralized online schools. Through the lessons that are
already being conducted on the tutor-ninja.com platform, we
communicate regularly with both students and tutors and
obtain rapid feedback from them about how our peer-to-peer
platform should evolve and which functions should be developed.
The central part of the platform is the NTOK crypto-utility.
Transactions on the NTOK platform are always paid by using
the NTOK token. We understand that some participants may
not find buying and selling crypto-tokens entirely intuitive
at first. To make the ecosystem as accessible as possible,
we simplify the process of buying token, motivate NTOK
participants to use the NTOK tokens, but allow customers
to use traditional fiat currency at the stage.
We do our best in order for the value of the NTOK token to
increase significantly overtime with a rise in the number
of ecosystem participants as well as intense NTOK tokens
usage. This generates higher demand in the NTOK token.
In addition, compensation plans of the NTOK management
are partly expressed in NTOK tokens, subject to provisions
of a lock up period, to link NTOK results with the team motivation.
1 Global Industry Analytics Inc. http://www.strategyr.com/pressMCP-1597.asp
2The expression is a shortening of kindergarten (K) for 4- to 6-year-olds through twelfth grade (12) for 17- to 19-year-olds, the first and last grades, respectively, of free education
8
Market overview
Tutoring is considered to be one of the largest
education segments in monetary value terms.
While in many other segments it is often difficult to
persuade people that they need to pay for educational
services or content, in the tutoring market everyone
intuitively understands that they need to pay tutors for
teaching. In addition, most people have had some
experience of studying with a tutor.
It is one of the oldest education segments and
frequently the first resource that students seek
out when they want to learn something.
Tutoring exists both offline and online. Currently
largely offline, it is poised for accelerated migration
into online tutoring, stimulating major interest from
educational technology investors.
There are tens of millions of tutors worldwide. Each day,
around the globe, tens of millions of informal lessons take
place in which tutors teach adults and children, instructors
prepare candidates for their exams and private teachers help
others to master new knowledge or improve their professional skills.
The world tutoring market is forecasted to reach US$227
billion by 2022. Currently, online tutoring accounts for only
3–5% of the tutoring market, but is expected to grow fast and
become mainstream in the fields of language study, preschool
preparation, and supplementary instruction for K-12 students.
The company’s strategy is to enter new regions and become
a true global business over the next 2-3 years. It is envisioned
that the massive expansion will be driven by its products
accessible via a user-friendly interface. The platform’s complete
transparency and fairness to all users will be ensured by the
innovative blockchain technology at the heart of the project.
The company’s international expansion plans envisage South
Korea, Japan and China as its primary target regions. The strategy
for market entry is based on interaction with mature partners
already engaged in similar business pursuits. Foreign customers
and partners are also expected to become token holders.
01
02
03
Over $200 bln market
2018 2022
Over $150 bln growth potential
100 %
75 %
50 %
25 %
0 %
The Online Private tutoring services market is the most rapidly growing segment amongst other education services for a number of reasons:
0
50
Source: Global Industry Analysts http://www.strategyr.com/pressMCP
9
Competitors
Blockchain
P2P
Talent leverage
Crowdfunding
Paid subscription
Community
Multi language
Opportunity to invest
Transparent ratings
MentorBox Vanywhere Coursera Skillshare XuetangX edXNTOK
Source: NTOK Analysts
There is no ideal educational ecosystem so far, but we are aiming at making NTOK as complex as no platform ever before. It is fast, transparent and user-friendly. We also developed a range of features, such as crowdfunding and investing options based on blockchain.
10
Problems with the tutoring market
01
Most courses are offline with students
spending hours traveling to classes
02
Unbalanced supply of tutors by
courses and prices
03
Middlemen (commercial schools and study
centers) charge significant markups
04
The small percentage of tutors who do
already work online are mostly forced
to teach via Skype, which is unsuited to
educational purposes.
05
Students choose teachers on the basis
of unreliable ratings with some ratings
being “fake”.
This is especially problematic for residents of major cities, where the time spent commuting to class can take as much as one to two hours each way. Many students spend two to three hours on the road to receive one hour of tutoring.
When tutoring is performed offline it’s difficult to match the supply and demand for tutoring in each particular location. In smaller cities, it can be impossible to find a properly qualified tutor. Also, the price for tutoring is higher in larger cities and lower for equally skilled tutors from smaller cities and rural areas who are unable to teach students in bigger cities due to geographical mobility limitations.
If a school charges $20 for a lesson, the tutor usually receives $5–8 of the total amount. Working directly with tutors and eliminating the middlemen makes it possible to save up to 75% on the cost of a lesson.
Poor quality Internet connections and a complete lack of the necessary study infrastructure (interactive study spaces, scheduling, payment, etc.) makes the teaching and learning process challenging for both tutors and students.
Most reviews that are left about tutors are often moderated because such reviews are important marketing tools for advertising tutoring services. Negative reviews are thus often simply deleted from the system, with only positive ones continuing to feature.
11
Product and the Blockchain infrastructure
The NTOK team has already had an experience and a working business model in the online tutoring segment of EdTech
The new product version is being developed on the blockchain technology
The NTOK token economics is based on a steady increase of demand for Skill-Hours of ecosystem users
An NTOK blockchain ecosystem test is expected in April 2018
12
Product development
2018 year
NTOK-X EcosystemWorld’s first ecosystem for decentralized education and personal token sales
Advantages
— Learn new skills and book experts time at once;
— Sell your experience to the wide range of stakeholders;
— Launch your personal token sale;
— Crowdfund to people with profit;
Blockchain platform for online education Advantages
— Peer to peer education with no intermediaries and fees;
— Transparent ratings;
— Cross-border payments
Successfully working business in the sphere of online learning
Advantages
— Individual approach to learning;
— A lot of grateful students;
— More than a year on the market of online tutoring
2017 year NTOKNTOK Platform
2016 year
Tutor Ninja
13
Product current statusIn May 2017 an online private tutoring services aggregator, a centralized version of the NTOK ecosystem, was launched. Hundreds of teachers and thousands of students are among the partners and customers of the product. The main advantages of our school are the following
03The customer satisfaction level is high and confirmed by feedback from our
students collected on the basis of the NPS
loyalty metric. Particularly 8 out of 10 people
are ready to recommend our service. Of these,
4 come to us from our key regional competitors.
01Its technical functionality
is designed specially for tutoring. The system
offers high-quality video, chat, interactive
whiteboards and a convenient file sharing
component. The facilities will remain in the
new version of the NTOK ecosystem.
02Prices are competitive
and beneficial due to eliminating middlemen
and their fees, being non-core for online schools.
14
Cast of charactersIn the NTOK ecosystem a user may participate in one or a number of the 4 main roles:
Tutor is an ecosystem user interested in providing services
Talent is an ecosystem user who issues personal tokens in order to raise funds for one’s development
Student is an ecosystem user who is interested in consuming services
Hunter is an ecosystem user who buys personal tokens
15
Tutor and Student ChallengesThe NTOK ecosystem technology eliminates gaps encountered by the interested parties within existing tutoring services solutions
Tutors often find monetizing their specific knowledge and skills too sophisticated despite a potential demand. A tutor is often not a professional marketer who can attract clients for their services which is a barrier for them. Existing services, with which they can find customers, tend to focus on narrow, strictly specialized areas of knowledge, for example, learning languages, other school subjects, preparation for university exams. A tutor, with knowledge in other areas, does not have the opportunity to find customers in this way.
The commissions that the centralized platforms charge participants (Tutor and Student) for the exchange of experience are quite high and reach 100% of Tutor’s cost in emerging markets.
Students sometimes face difficulties in finding tutors with specific knowledge, say, a specialist with native vocabulary in navy English. A serious issue is a lack of reliability and any objective criteria for finding a tutor. Ratings are distorted on many platforms; positive reviews about a person are often written by friends or bots. Due to the fact that the cost of training or other services is established by the Tutors themself, not by the market, there is a weak correlation between the price and the quality of the provided services. Asymmetry of information plays a noticeable role on the market. Often the cost of services poorly correlates with the level of a tutor’s expertise.
The NTOK ecosystem describes two more distinct categories such as Talents and Talent Hunters. Funds for a Talent’s training or for an implementation of his/her projects are often may be received at a high interest or be unavailable. Existing crowdsale platforms offer functionality to raise funds for a company’s business project. Student loans are a long term solution. For a Talent, in our view, production of prepaid cards equivalent to a number of the Talent’s skill-hours may be an intermediary short-term solution to finance a short term self-development plan such as a training, education, etc. For a Hunter, it is a chance to secure a price for a Talent’s hour, say for well-known consulters, or simply earn on a price gap.
Rapid technological developments result is a shortage of skilled personnel. Consequently talent hunters think of a prior talents selection and education. Thus, early investment in Talents is of demand in the lifewide, continuing education era.
Description of the NTOK ecosystemThe NTOK-X Ecosystem is a global decentralized blockchain infrastructure for monetizing competencies, sharing experiences and raising funds for development and training with the help of Personal Token Sales.
Within the ecosystem, the only payment vehicle used in transactions is the NTOK token. Talents may produce their personal tokens, based on the NTOK infrastructure3.
Within the framework of the blockchain infrastructure, a personal token is a unit related to user’s time , which may be produced or refunded. Other users may purchase Talent tokens to resale them or exchange them for a Talent’s time in order to obtain a certain type of service. Buying a tutor’s time for training may be an example.
3Upon registering, each user of the ecosystem is automatically credited with 17,520
personal tokens, securing 2 years of the Talent’s skill-hours. Before a Personal Token
Sale these Talent tokens are not traded on the internal exchange and are used only
to reserve the Tutor’s time. It is a technical nuance that the NTOK users don’t face in
person but which supports functioning a blockchain infrastructure
16
Basic functionsThe ecosystem provides a number of functions to support interaction of the NTOK users
Tutor — Provides services for Students
— Sets a Timetable
— Receives payment for services
Talent — Produces personal tokens to raise funds
— Sets the parameters for Personal Token Sale
— Sets a schedule and provides services (acts as Tutor)
— Refund their own Talent tokens at a special redemption price
— Buys time of a Tutor with the purpose of improving
his/her qualification (acts as a Student)
Student — Purchases Tutor services
— Reserves time of the Tutor
— Searches for Tutor in a common database
— Searches of rendered services in the common database
— Buys Tutor’s time in exchange for personal tokens and core NTOK tokens
— Buys Talent’s personal tokens in order to obtain services in the future (in fact, acts as a Talent Hunter)
Hunter — Participates in a Personal token sale by
providing his/her funds and purchasing somebody’s personal tokens
— If he/she has a core NTOK token, then may moderate a Personal Token Sale
— Exchanges personal tokens for skill-hours to obtain services (acts as Student)
— Sells personal tokens on the NTOK internal exchange floor.
Skill-hour is a measure of a Tutor’s service to a Student, which is bought via a personal token.
A Personal Token Sale is the object of interaction between a Talent and a Hunter.
17
08 Cybersport
09
Computer science
10
Medical and Biological Sciences
11
Mathematics and Logic
12
Natural and technical sciences
13
Social Sciences
Services and Knowledge Domains
The ecosystem target model is assumed to support a wide range of services including freelance development or design, per-minute consulting, etc in future. The NTOK Alpha version is to maintain one domain, however the most important for the economical model of the project. An exchange of experience and knowledge will be available from the moment of launching the NTOK blockchain infrastructure.
We anticipate the following areas may be the most requested and relevant educational topics in the short-term perspective. The list is surely open and will be expanded and supplemented with the development of the ecosystem:
01
Learning foreign languages
02
Personal Development
03
Blockchain
04
Artificial Intelligence
05
Data Science
06
Humanities and Arts
07
Business
Services are provided as part of the reserved and paid time from the Timetable, defined by the Tutors. The ecosystem will provide an opportunity for Students to request from Tutors the opening of additional intervals in their Timetable for rendering services. As a perspective, an opportunity of providing services not at a specific time, but with a predetermined deadline is supposed.
A personal token is used to pay for services. At the moment of booking skill-hours, Student transfers payment to the core tokens of NTOK Tutor and receives a personal Tutor token in return. This token, as well as payment, is automatically reserved by the ecosystem until the service is provided. In case the service was rendered, the payment and personal token are transferred by Tutor. In case the service was not provided, the personal token is returned to Tutor, and the payment is returned to Student.
The NTOK ecosystem maintains anti-fraud rules that penalize users for violating the terms of use. For instance, a Tutor, who has not not rendered booked services twice within a month, receives a 3 Skill-Hours penalty, for which he/she will not receive payment. This may be considered as a compensation for an inconvenience caused to other users.
18
Verification of Tutors
Personal Token Sale
How are a Tutor credentials to teach a subject verified?
In our current business model qualified methodists are
interviewing tutors to define their roles. We move this way unless
find reliable partners for skilled tutors verification. The partners
are expected to be blockchain services, universities and other
institutions to confirm diplomas, certificates etc.
Users of the ecosystem may launch their own Personal Token
Sale. It is the case when the user acts as a Talent, The other
NTOK users may buy the Personal tokens for the core NTOK
tokens. Non-NTOK users may buy the Personal tokens for
crypto and fiat currency using special tools.
To conduct a Personal Token Sale, the Talent provides the following information
01His /her general information
02Why does he/she request pre-funding
03Track records and achievements with a confirmation
04A roadmap
05 Soft Cap - the smallest amount to achieve the goals
06Hard Cap - the total amount requested
07Payout parameters such as tranches of funding the Talent
08Obligations to the ecosystem such as Timetable, services and an SLA terms and conditions
09Cost of a Personal Token for the period of Personal Token Sale, including the mandatory period of moderation indicated in the number of core ecosystem tokens
10Other terms and conditions of the Personal Token Sale
Personal Token Sale has two stagesModeration
when holders of the core NTOK verify and confirm the provided
information. Moderation is recognized as successful if a Talent
sells more than 10% of the total amount of Personal Tokens.
Otherwise funds return back to Hunters. A holder of core NTOK
has an access to the Personal Token Sale list to participate in
the moderation.
Crowdsale of Personal tokens. At this stage, the remaining 90% of the Talent tokens are sold.
A Personal Token Sale is considered as successful if the amount
of Personal tokens sold exceeds Soft Cap. Otherwise, the funds
return to Hunters. An NTOK gateway with external floors is
used in the period since a Hunter may not be an ecosystem
user as an option.
For Hunters pricing for personal tokensis fixed and measured in core NTOK tokens.If a Personal Token
Sale is successful, Hunters may exchange the Personal tokens
for skill-hours of the Talent or exchange them for the other
Talent tokens or for the core ecosystem tokens through the
internal exchange.
Upon completing a Personal Token Sale, the Talent takes
obligations to the ecosystem and Hunters. A Schedule to
provide services to other users of the ecosystem must be
established. The number of hours to be allocated each month
depends on the number of Personal Tokens bought by Hunters.
The more personal tokens a Talent produced, the more time
must be regularly allocated to the Schedule.
19
The internal exchange is the floor of trading with personal tokens.
A key rule is that the core NTOK may be exchanged for a personal token of any user and vise versa.
Most of transactions on the NTOK such as: buying NTOK-P during a Pesonal Token Sale for crypto are implemented on the backend and are not visible to the user. The internal exchange is supposed to be maintaining many types of transactions
Internal exchange
The blockchain technology guarantees fulfillment of the obligations. A Talent signs a smart contract with the NTOK management by producing a personal token.
An ability to refund the obligations to the ecosystem and Hunters is ensured by that redemption is possible without a consent of its Token-holders.
The refund can be made in whole or in part, but a tranch may not be less than 10% of the number of personal tokens held by the holders. Priority of refunding is defined by the rule “first buy, first served”.
The refund price is calculated as follows
01As a higher out of the Personal Token Sale price and a current average price of that personal token on the internal exchange
02This value is multiplied by a coefficient depending on a demand for the personal token, the moment of its circulation on the internal exchange, and a number of other aspects.
20
The Token concept
NTOK core ecosystem token
• Quoted on external exchanges
• Allows you to reserve the time slots
in the schedule of any Tutor with
Timetable
• Trade on the internal exchange market
for personal tokens of users
• The cost is determined by the market —
by the demand and supply.
• There are a limited number of
33,000,000 tokens.
NTOK-P (Personal Tokens) — personal tokens of users of the ecosystem
• They are quoted in the core tokens of the
ecosystem only on the internal exchange
• Allow to book time slots in the schedule of
a particular Tutor
• In the event that hand holders are present,
ensure that the Talent of the token will have
a certain amount of time in the timetable
for the provision of services
• Allows you to conduct Personal Token Sale
• It is an estimate of the demand for the
competence of the user of the ecosystem.
• The cost is defined as the minimum of two
values — the Skill-Hour price, set by Tutor
and the minimum price of a sell order
on the domestic stock exchange.
• The number of personal tokens is limited
only within the same Talent. Each ecosystem
user independently determines the amount
of tokens needed to be released within this
constraint. The cumulative number of all issued
personal tokens is unlimited.
Two types of tokens exist in the ecosystem
21
Token price
Balance of personal tokens
The price of NTOK core tokens is determined by the ratio between demand and supply of tokens on external exchanges markets.
A price of a personal token depends on whether a Talent’s Personal Token Sale was conducted or not. If not, then the units are technical and the price is determined by Tutors.
If a Personal Token Sale was conducted and the personal token is quoted on the internal exchange, the value is determined automatically. The ecosystem chooses the lowest cost from two possible values:
01The value of the token set by Tutor
02The value of the token on the internal exchange
The number of personal tokens of an individual user is limited and initially set at the level of 17 520 token. This is the number of hours in 2 calendar years. At the same time, the number of personal tokens of A Talent on a balance his/her token-holders should not exceed 4,380 tokens. Such a restriction is necessary in order for the Talent to retain an opportunity to act as Tutor and not to provide services to the token-holders. Accordingly, this restriction excludes a chance of carrying out an additional Personal Token Sale but does not restrict the Talent to install a Timetable and render services.
While the Talent’s personal tokens do not burn out, their number is not reduced. If a Talent conducts a Personal Token Sale and some of their tokens are on the balance of non-user token holders, Talent has operational obligations to the ecosystem and Hunters. At any time, when for the provision of Tutor services, which was conducted by Personal Token Sale, receives back its personal token from Student, it faces a choice. They may keep this token, thereby reducing the amount of obligations to the Ecosystem, or sell it on the internal exchange, having received for this some amount of core ecosystem tokens. For a Tutor, who did not produce a Personal Token Sale, there is no alternative.
To ensure a liquidity of a personal token, a token fragmentation is not provided. In future versions personal tokens will perhaps be split into 4 parts, which corresponds to 15 Skill-minutes. Liquidity in this context is provided by the opportunity to gain value by acquiring the Tutor time for personal tokens.
22
Types of transactions on Blockchain platforms Preliminary list of transactions carried out by users of the ecosystem, the recording of which is advisable for the technology blockade:
Setting and changing its Timetable
Available to all users of the ecosystem. Is
mandatory after the conduct of Personal
Token Sale.
Booking free Skill-Hour selected
Tutor
Available only to users who have on their
balance sheet a personal Tutor token or
a core token.
Receiving / providing services during a pre-booked
time
Transfer of tokens for the
provision of services
Exchange of tokens on the
domestic exchange
Issue of a warrant for the exchange
of tokens on the domestic exchange
The fact of purchasing personal Talen-hunter tokens in the
process of Personal Token Sale
The fact of Talent’s agreement with the obligations towards
the ecosystem and Hunters in the
process of Personal Token Sale
Assessing the quality of service
delivery Tutors
In the future, we plan to add the Tutor option
to hold the auction on its own time.
23
Technology is going to be enriched with services
that provide NTOK users with additional
functions or an extra quality
01
Manufacturers of LMS systems
02
Decentralized streaming and video services
Legal Partners help us protect interests of the ecosystem
users and additionally guarantee them risk
mitigation
01
Legal advisers. At the moment we are
working with DLA Piper.
02Verification services for verifying the data
provided by users
Business partners interested in using the NTOK API, or providing
our ecosystem with its API to enhance the
offer to users
01
Regional schools and educational
organizations, online learning services
02Aggregators and marketplays of services
and executors of these services
If you are interested in cooperating and
establishing partnerships with our ecosystem,
mail your suggestions to [email protected]
Partners
24
Architecture of the Solution
24
NTOK Role 1
NTOK Tokensor Personal Tokens
NTOK Tokensor Personal Tokens
Time (skills)
NTOK Role 2
Time (skills)
NTOK Role 3
Personal Tokens
NTOK Tokens
NTOK Role 4
NTOK Tokens
Personal Tokens
You can be
User X
User 1
TutorShares skills and gets NTOK Tokens or Personal Tokens
StudentSelects from a wide range of skills to learn. Pays in NTOK Tokens or Personal Tokens
Invests in Personal Tokens of other users
Launch personal token sale. Reseives
money for self-development
Hunter
Talent
25
NTOK APPFront: React.js
Back: GoLang
API allows other organizations t o stay connec ted within the e cosystem
NTOK API
— Transactions between tutors and students are carried out using smart contracts
— Reliable ratings of people who share- experience and skills
Blockchain usage— Blockchain protects
crowdfund assets
— Protection of investors’ interests
Stock ExchangeToken liquidity
ERS-20 technology
External Exchange
NTOK
¤ BTC
ETH$
Internal Exchange
NTOK
Personal Token X1
Personal Token X2
Personal Token X3
26
Blockchain Technology
The blocking technology in our ecosystem is necessary to
support the infrastructure od accounting and settlements
for a Personal Token Sale, a turnover of tokens, and
recording of Talents’ obligations. In the blockroom ratings
of platform participants will be recorded separately by roles
and types of services.
Tokens are issued in the public blockbuster network of
ethereum. The standard of tokens is erc-20. A smart
contract is customized for each user: the name of the
token, the number of tokens, their price, the conditions
for obtaining money, and collects on one of the predefined
templates.
Thus, the NTOK blockchain infrastructure is quite extensive.
NTOK API
If you are a block developer and want to use the functionality of our
ecosystem in your projects, then you can use our API. If you want
to participate in the development of the API and also to obtain the
access key and documentation, write to us at [email protected]. In
your request, describe in which project you plan to use our api, for
what purposes and the expected number of hits per day.
Our API will provide information about users and transactions in the ecosystem:
• Whether there is a user in our database,
• Which functions does the user carry out,
• Whether the user has conducted Personal Token Sale,
• When did the Personal Token Sale take place,
• On what terms,
• What was the amount collected,
• On what terms will the money be activated and
transferred to the Talent,
• How much money has already been sent to Talent,
• How many services are provided by a single user,
• At what rate the services were rendered.
Part of the data can be accessed only if there are special
keys to access our APIs.
In addition, we plan to develop a separate API:
01For regional schools and educational online services,
so that they can use our product to provide educational
processes.
02For individual Tutors for the ability to find customers and
use platform tools in external applications.
In addition, you can request information about the preparing
Personal Token Sale, as well as customize and conduct a
new Personal Token Sale (including the conditions for the
issuance of money Talent).
27
NTOK Token-holders’ interests
In our opinion, the growth in the demand for NTOK is due to several factors:
Liquidity of the token
The core ecosystem token, NTOK, is the only way to start using the ecosystem functional. NTOK is traded on the foreign exchange, and can also be used to purchase a personal Tutor or Talent token. In this case, the personal token allows you to purchase Tutor time for receiving services.
In the future, the ecosystem will be able to provide a wide range of services not only related to training. Including to perform any work. Thus, the platform can be connected to various freelance exchanges through the NTOK API to increase the demand for NTOK as an exchange currency.
The personal token issued by the user of the ecosystem when carrying out Personal Token Sale serves to exchange the participant’s time as a future asset for financing, which becomes available to them when these goals are achieved. As the ecosystem user develops, the demand for their personal token increases.
Limited offer of tokens with growing demand
The number of issued core NTOK tokens will be limited to 33 million. In the future, their number may decrease in the event that the management of the ecosystem «burns» the core tokens. Expanding the activity of their use on various exchanges will lead to an increase in the demand for NTOK as a unit of value.
The number of personal tokens will be limited to each of the Personal Token Sale, and in the future will only decrease due to the possible non-fulfillment of some of the goals set in the course of Personal Token Sale (in this case, the means are returned by Hunters). The growth of demand for a personal token is laid in the increase in the value of the time of a certain user of the ecosystem during the improvement and widening of their skills range.
28
Sale Details of the NTOK Ecosystem
Cap on Proceeds at ICO
$15 mlnToken Standard
ERC 20ICO Period 1
Mar 16 — Apr 15ICO Period 2
Jun 16 — Jul 15
3 %
7 %
20 %
70 %
Public
Management & Advisors
NTOK platform reserve
Bounty
80%
7%
13%
Marketing & Sales
Including expansion in various
countries and courses
Product
Including platform
development, blockchain
implementation,
Operations
Reserves, refinancing,
bolt-on M&A and other
Criteria of the token sale
* Please mail to [email protected] to receive more details on the cost breakdown structure
29
The task of raising funds and attracting token-holders
at the first stage is creating and conducting a closed
testing of the first version of the NTOK ecosystem.
The number of issued tokens will depend on demand,
but we plan that the purchase of tokens at this stage
will be no more than ⅓ from Hard Cap, since most of
the funds will be needed after the development of
the ecosystem.
The main task is to raise funds for conducting
marketing campaigns on foreign markets (primari-
ly in Asia). By the second stage of the Token sale,
the NTOK team will complete the development of
the existing ecosystem (currently there is a base
platform), so the demand for a core NTOK token
will increase, which will lead to an increase in the
value of the asset acquired during the first token.
Second stage
June 16th – July 15th
NTOK will be listed
July – August, 2018
First stage
March 16th – April 15thThe main goal of the NTOK ecosystem token sale consists in increasing the interest of the crypto-community to the NTOK ecosystem and in conducting a marketing campaign aimed at attracting as many users as possible.
Pre-SaleIDecember 05, 2017, 00:00 UTC - March 16, 2018, 00:00 UTC
ICOMarch 16, 2018, 00:00 UTC - March 23, 2018, 00:00 UTC
ICOMarch 23, 2018, 00:00 UTC - March 30, 2018, 00:00 UTC
ICOMarch 30, 2018, 00:00 UTC - April 06, 2018, 00:00 UTC
ICOApril 06, 2018, 00:00 UTC - April 13, 2018, 00:00 UTC
ICOApril 13, 2018, 00:00 UTC - April 15, 2018, 23:59 UTC
1 NTOK = 1.00 USDMin purchase - 50 NTOK tokens
1 NTOK = 1.00 USDMin purchase - 1 NTOK tokens
1 NTOK = 1.05 USDMin purchase - 1 NTOK tokens
1 NTOK = 1.10 USDMin purchase - 1 NTOK tokens
1 NTOK = 1.15 USDMin purchase - 1 NTOK tokens
1 NTOK = 1.20 USDMin purchase - 1 NTOK tokens
The dynamics of the increase in the value of NTOK Token during the 1st stage of the Token sale:
30
Offers for NTOK token-holders
PR EMIU M
$5 000+6 250 tokens
(25% token bonus)
Vote for NTOK-X features
50 talent hours included
PR OFESSIONA L
$1 000+1 150 tokens
(15% token bonus)
10 talent hours included
BA SI C
$50+52,5 tokens
(5% token bonus)
JOIN ON MA RCH 16ST
GET TOKENS GET TOKENS
To motivate the early NTOK token-holders of the ecosystem, we offer a number of additional bonuses, including the benefits of future use of ecosystem functions.
31
The team
Alexey has over 13 years of experience in the technology industry, including blockchain projects development. He wrote a paper on simulation modelling. Alexey has an immense experience in web integration and diskless workstations
Alexey BorisovCTO
Natalya Asenova
Natalya has over 10 years of experience
in sales. She is focused on building strong,
long-term business relationships with both local and international brands
Head of Sales & Marketing
Mary Cooney
in Pre-K-12, with degrees from Columbia and Smith; Mary has worked for national educational software companies such as Jostens Learning Corporation, Educational Resources, Inc., Dukane Corporation and Apple Computer, Inc. in sales,
marketing and training for over 20 years
Advisor - Tutor development
Andrey has more than 5 years in IR development, including leading European O&G companies, campus charity campaigns
languages, including French and Chinese, which enables him to cooperate with investors from both Europe and Asia
Andrey KapustinHead of IR
Victor Bryzgalov
Victor has provided software develop-ment support to multiple Internet startups, including block-chain-based
Director of Blockchain
Max Shekhovtsov
Max has more than 18 years of investment management experience. He set up 5 Venture Capital funds with more than $190m under management and investments in more than 100 companies located in EU, US and
Entrepreneur of the Year competition for 2016 and is the winner of the Russia Venture Awards 2017
Co-Founder & CFO (ex ING Bank
and Allianz SE)
Anton Mishin
Experienced Entrepreneur, launched several IT companies, including successful exit from the company of the big-data analytics (DAC) services
CEO
Marketing communications for Asia
and Europe, advisor
Olga Rink
Olga has more than 20 years of experience at management positions and consulting in the IT, finance and media industries, including global leaders in business data and financial infrastructure. A winner of the EY “Entrepreneurial Business Women” award of 2015. A member of Board at Financial Communication and Investor Relations Alliance.
Our team is experienced in all relevant fields such as online tutoring, IT, blockchain, digital marketing, product development, languages, and finance. The skills of true Ambassadors of the blockchain technologies in EdTech support creation of the NTOK ecosystem to capitalize the tutoring market potential
32
Advisors
David GoldsmithPresident and Co-founder of the Goldsmith Organization (New York and Hong Kong)
David’s a Founder and Project Leader of Project Moon Hut, a three-year collaboration with NASA (Silicon Valley) focused on improving life on Earth. He also co-founded ecosystem.AI (San Francisco), a predictive analytics and visualization company
Mike RaitsynICOBox, Co-founder and CEO
Mike is one of the prominent members of the global rypto community. He founded ICOBox, the company that provides ICO advisory services as well as a technological platform (ICO SaaS solution). ICOBox successfully completed its own ICO in September, 2017
Susanna MorganPhD. Professor of Sociology
Suzanne founded the Teacher Development Center, which provides a Mentoring program for teachers at Ithaca College. She is the leading national leader and coach for academic writers as individuals and groups. She has more than 100 books, articles and presentations on teaching methods, academic careers and sociology, which are actively used every day
Ilia FranksteinTetha Crypto, CEO
Ilia has over 20 years of experience in technology and blockchain. He started his career as a software engineer and then as an IT consultant for Canadian banks and major corporations. Ilia has been active in crypto space since 2015 and is one of thet key team members of the distributed supercomputer startup SONM
David BuckleInternational Corporate Governance Director
David has many years of experience as a commander of the Royal Air Force, a lawyer, a member of the Iod Board of Directors’ advisory group, and the current project is the development of a strategy for promoting the current business between the UK and Poland post Brexit
Alex FilatovIoD Chartered Director (UK)
B&N Bank Member of the Board, co-founder and ex-CEO Independent Directors Association, internationally acknowledged governance expert
Leo BatalovDLA Piper, Co-Head
Emerging Growth Companies
Leo Batalov advises on corporate finance transactions, mergers and acquisitions, venture capital transactions, private equity transactions and general corporate matters
Mike RogalskyFounder of Auto.ru
Mike is one of the legends in the Russian internet industry. He founded the leading Russian online car classifieds business, Auto.ru (analogue of Autotrader UK), back in the 90s and later sold it to Yandex (Russian Google) for $175 million
Kentaro HaradaAmbassador in Japan
More than 5 years of experience in Cryptocurrency Invesyment, an Investment Consultant, IT-channels founder and an author of several courses of Cryptocurrency Investment in Japan
Yura VirovetsFounder of Headhunter.ru
Yura is the pioneer of the Russian job classifieds market. He founded the leading online site for job seekers in Russia and the CIS and later sold it to Mail.ru
Igor PekshuevChrysler Russia, CFO
Igor has a broad financial experience in many industries from automobile to packaging
in a wide range of multinational companies including Chrysler, DeLaval, Ernst&Young
Vitaliy TatsiyCo-founder of Kinopoisk.ru
Vitaliy co-founded the Leading Russian online resource dedicated to the movie industry Kinopoisk.ru (analogue of IMDB) when he was still studying in the University. In 10 years, Kinopoisk reached the audience of $15 million unique visitors per month and was sold to Yandex for $80 million
33
Referral and bounty programs
To promote the main goal of the NTOK Token sale marketing platform and attracting users, we will introduce referral and a bounty programs.
5 %The referral reward to the
owner of the referral link
5 %The buy bonus when
using the referral link
3 %of the number of NTOK
core tokens sold is the total
amount of funds reserved for
the bounty program
$ 640 000The total amount of funds
reserved for the bounty
program in tokens
30 %
5 %
5 %
20 %
20 %
20 %
Our bitcointalk channel - https://bitcointalk.org/index.php?topic=2496624
Subscription campaign
Telegram bounty
Content in blogs and video content
Social networks (Facebook and Twitter in the same proportions)
Miscellaneous (Payment of individual bloggers, bounty managers)
Translation of documents and management of local communities
34
November
2016
February
2017
May
2017
February
2018
March
2018
June
2018
July
2018
September
2018
December
2018
January
2018
March
2018
Online-education platform islaunched
Genesis Capital fund investment raised
Platform centralized version is launched
Project expanded to brand new talent tokenization and knowledge sharing infrastructure
1-st public token sale of NTOK Tokens
Alpha-version of ecosystem is available for a limited early access
2-nd public token sale (main part) of NTOK Tokens ends
NTOK Tokens get listed on exchanges
NTOK-X ecosystem public launch (ver 1.0)
Personal Tokens are added. Ecosystem allows users to tokenize their talents and participate in Personal token sales of other people
NTOK-X expansion on Asian markets starts (Korea, China, Japan and India)
01
02
03
04
05
06
07
08
09
10
11
Roadmap
34
35
FAQ
You can find answers on all your questions at https://ntok.io/faqFor more information visit our website www.ntok.io
What is NTOK? The Tutor Ninja NTOK-X (“NTOK”) ecosystem for tokenizing talents is an evolution of Tutor Ninja, a private tutoring operator serving thousands of users, into a three-level blockchain infrastructure for continuing, lifewide education. The NTOK tokenization platform concept comprises online schools, an online aggregator of private tutor services as well as tutors and NTOK ecosystem partners’ services.
What kind of team is behind NTOK?Our team members have a great experience in the online tutoring field that was acquired during the creation and testing of the Alpha version of the NTOK platform. This experience, combined with the vast subject area expertise of all the participants on our team, can enable us to create a platform that capitalizes on the enormous potential of the tutoring market, thereby helping to popularize the blockchain technology among both tutors and students.
• Anton Mishin (CEO) Experienced Entrepreneur, launched several companies in mobile and online services.
• Max Shekhovtsov Co-Founder & CFO (ex ING Bank and Allianz SE) has more than 18 years of investment management experience. He set up 5 Venture Capital funds with more than $190m under management and investments in more than 100 companies located in EU, US and Russia. Max has been a finalist of the E&Y Entrepreneur of the Year competition for 2016 and is the winner of the Russia Venture Awards 2017
We have support from some incredibly experienced advisors, whose experience includes: creating companies worth hundreds of millions of dollars, leading major international conglomerates, and conducting large-scale Token sales.
• Mike Rogalsky Founder of Auto.ru
• Yura Virovets Founder of Headhunter.ru
• Vitaliy Tatsiy Co-Founder of Kinopoisk.ru
• Ilia Frankstein Tetha Crypto, CEO
• Mike Raitsyn ICOBox, Co-Founder and CEO
• Victor Bryzgalov The Invaders (software development), CEO
• Alex Filatov IoD Chartered Director (UK)
• Igor Pekshuev Chrysler Russia, CFO
What problems does NTOK solve? First of all, we are aimed at providing quality educational services at prices below the current market one that would be accessible to the masses. We allow students and teachers from different countries to overcome distance and work together, while making the process as transparent and reliable as possible. One of the important advantages of the ecosystem is the complexity of the platform. This is not only an online education in a one-to-one format, but also a platform for distributing freelancing tasks. Very important is the proposed model of crowdfunding - we not only allow to receive education for free, but also create incentives for development.
What is the difference between NTOK and its competitors? It should be noted that NTOK is an ecosystem that somehow competes with platforms in related industries.In our opinion, the main competitors in the field of online education are the existing platforms, such as XuetangX, 17zuoye in China, Foxford in Russia.In the field of crowdfunding we compete with both Kickstarter and traditional student loans.In the field of freelancing - solutions such as Upwork.The key difference is the use of blockade technology, which allows us to make our ecosystem more open and effective to any of the applications.
What is the practical use of NTOK?01 Tutor search and selection. Students will be able to search using several parameters, for example: by subject, profile, language, price, rating, availability, etc. Students will receive a set of profiles for tutors available to teach the requested subjects for the price and at the times specified as part of the search.
02Online schedule for tutors and students. Students will be able to see free slots in the teacher’s schedule as well as their own upcoming lessons.
03Direct payment to tutors using crypto tokens on the Ethereum blockchain. The students will know that they are paying the tutor directly, without paying a significant markup to a middleman
04Interactive study area. Participants will enjoy audio and video connection with better quality than Skype, chat, file sharing, interactive whiteboard, and also benefit from an interactive testing system offering unique types of exercises for each subject category.
05Rating system based on a blockchain. Only those students who have attended a lesson with a tutor can leave feedback on that tutor. The tutor’s overall rating will be calculated based on a large number of parameters, including: an average rating for the previous 30 days, a rating for the tutor’s course materials, and a rating for video lessons that the tutor has recorded. The students will be able to see and post these ratings separately;
06A crowdfunding solution, which allows you not only to get knowledge for free, but also provides a certain income for training
07A platform for freelancers. Never before has the work outside the office been so transparent and open to both parties as with NTOK.
36
Glossary
NTOK (Tutor Ninja Token)
New Token of Knowledge. The core internal settlement utility to be listed on external crypto-markets
NTOK-P (Talent Token or Personal Token)
Like a gift card, Talent token (or Personal Token) is a utility securing a prepaid obligation to provide a number of Talent’s Skill-Hours in future. Talent token is produced during Personal Token Sales, and is also used in a transaction for the purchase of the user’s time and in the provision of services. They can, for example, be exchanged for personal tokens of other Talents or a core token on the internal exchange market
NTOK Ecosystem (Ecosystem)
A set combined users, partners and a technical infrastructure that makes the overall interaction possible. The technical infrastructure records all transactions and the execution rules underlying the technology block. “- X” may be added for an ecosystem version
Skill-hour A time slot, equivalent to competences or skills of an ecosystem user per one hour. The unit is introduced to allocate and buy services provided by the ecosystem participants
Talent A seller of Talent tokens, say, to pre-finance her/his education
Talent-hunter (Hunter)
A purchaser of Personal tokens at a Personal Token Sale
Personal Token Sale
An obligation to allocate a Talent’s Timetable on a regular basis, secure Skill-hours in future to render a service within NTOK
Timetable A service schedule set for each Tutor. As part of this schedule, other users may purchase Skill-hours from a Tutor and receive the services.
Experience Sharing
The type of services supported in the ecosystem assumes an exchange of knowledge or experience during one or more Skill-hours between a Student and a Tutor. A tutor’s training for a student may be an example.
Token-holder of Personal Tokens
An owner of a Personal token
Ecosystem User
A person or legal entity registered in the ecosystem. The ecosystem user does not need to own the base token, or the personal token of another user
NTOK Token-holder
An individual or a business which own core NTOK ecosystem tokens
Service A transaction when a Tutor secures his / her Skill-hours to a Student and / or when a Student buys a number of Tutor’s tokens
Skill-Hour Purchase Transaction
A valid for one occasion Student’s purchase of one Tutor’s Personal token. This leads to reservation of the Tutor’s Skill-Hour for receiving a selected service
Internal Exchange Market
A tool to exchange personal user tokens for core ecosystem tokens and personal tokens of other users (via the core ecosystem token). Uses orders to buy and sell tokens, installed by users
External Exchange Market
A tool to exchange a core ecosystem token for crypto-currencies and fiat currencies. External to the ecosystem service
NTOK Token sale
Primary issue and offer of core NTOK tokens for purchase within a special round of selling tokens and on external exchanges