With more than 100 millions visitors per month, Udemy.com is one of the most used e-learning platform in the world, especially in the current pandemic with everyone having to learn from home. However, according to a study from Quartz and another study from Inside Higher Ed only 7% of classes purchased online are ever completed to their end. That means that people are wasting money for the part of the class that they are not doing. What if we could only pay for what we use?
Theta is the perfect framework for this! Thanks to its micro-payment blockchain technology, it is possible to charge students per minute of watching a class and pay the creator directly to his wallet using TFUEL. TET was born! TET is platform similar to Udemy where creator and teachers can upload their video classes, except that instead of charging a price for the whole course, they charge per minute of watching.
The current version of TET is still only a proof of concept and is running on the Theta Testnet. To try it out, open TET.university and create a new account. A Theta wallet will automatically be created for you and allocated with 100 TFUEL on the testnet. You can now select a class and start watching. Every minute you watch the class, 1 TFUEL will be transferred from your wallet to the creators wallet, e.g. if you watch the class for 7 minutes, your balance will now be 93 TFUEL and the creator's wallet will be 107 TFUEL. That way you only pay for what what you actually watch. Notice that you can even move around in the video without affecting your watch time, so you can skip the parts that are not interesting for you and watch only what you want. You only pay for time spent.
TET is the future of e-learning and we plan on going into production on the mainnet in the next few months. Many additional features are still in progress such as allowing creators to customise the price per minute of their videos.