Even For The Unbanked In Venezuela
Every passing minute, all around the world, knowledge is being exchanged for money. While traditionally this has been done in person, in recent years it has moved into the digital space and is growing at an unimaginable pace. Such rapid progress has brought forth its own set of challenges.
One of the major challenges is that there is little incentive for experts to provide consulting over applications such as Skype, where there is no simple way for them to receive money for ad hoc micro consultations.
Experty.io sets out to solve this problem, as a fully decentralized, paid, consultation platform.
We’ve observed a huge, untapped field in the consulting market that is impossible to explore with a standard approach. Our vision is to combine two worlds: decentralized instant payment technology with mass-market potential. Experty.io is a new type of platform that will promote blockchain on a global scale.
The current problem in the digital consulting industry is connected to the knowledge-for-money exchange. There are no simple and trustful tools that support the existing applications in this process. In addition to the high cost of transferring money between two countries and a long wait for funds, in a changing world – current, centralized solutions are no longer efficient:
- The payment before the consultation causes a problem for the advice seeker. Because of the unknown length of the conversation, people usually ended up overpaying or ending the consultation too quickly.
- The payment after the consultation causes a problem for the knowledge provider. If the person looking for advice is not honest, the expert won’t get paid for his time.
- The usage of third party services like Paypal may cause the issue of a high withdrawal fee or your account may be blocked for any reason.
Experty.io is omitting known problems from the centralized world.
On the one hand, there is the simple mobile, web and desktop calling application. Anyone who owns a smartphone or computer will be able to initiate or receive consultation calls via this app. The experience will be very similar to the Skype or WeChat mobile app. In a few days, we are releasing functional alpha version able to make calls and settle the payments between participants based on the consultant’s rate.
Experty.io utilizes decentralized technology. All payments which take place on the platform are managed by the smart contract and the blockchain. This cutting edge combination solves two large problems in the consulting industry.
- Experty.io doesn’t need banks or third party services to transfer remuneration for consultation. Days of waiting for funds and high costs for every transaction are no longer a problem.
- The usage of smart contracts along with the unique mechanism of accruing the Expert’s rate per minute during consultations solves the problem of overpaying and dishonesty. Every Knowledge Provider can set his/her minute rate adequate to the knowledge that they possess and the Knowledge Seeker, depending on his/her requirements, can choose the right Expert without being cheated.
In order for Experty.io to conquer the mass-market, it needs to be user-friendly.
This is why the monetary settlement is discreetly done on the Ethereum blockchain. Even without knowledge of blockchain, Bitcoin, or Ethereum, a Knowledge Seeker will eventually be able to use the application through a fiat gateway.
The Experty.io platform is suitable for a large variety of knowledgeable individuals, such as lawyers, medical consultants, and academic professors. In addition, celebrities, bloggers, and popular YouTubers can share their time, essentially monetizing contact with their audience. Another specific use case is a charity campaign. Our platform will allow a celebrity to hold a charity call, like a monetized Facebook live video, during a specific time slot. In exchange for the celebrity’s time, they would receive money from every viewer participating.
At Experty.io, we believe that great knowledge can be found in every corner of the world. That includes the billions of people who don’t have access to traditional banking systems. Being able to exchange knowledge for tokens on the decentralized Ethereum network would allow our platform to tap into a truly global well of knowledge on any topic.
The classic approach is to create a marketplace which allows customers to search and connect with consultants. Instead of having a central marketplace, we are implementing a totally decentralized solution. Users will be able to share their Experty.io contact information wherever they’d like, such as discussion boards, LinkedIn profile, Facebook profile, on their websites, Twitter, etc. This would allow consultants to reach a larger audience while allowing us to cut costs while building the application.
Third Party Platform Integration
Our decentralized solution presents the opportunity to integrate with a variety of third party services, many of which already contain a large user base. These services can make additional profit by way of fees collected through Experty should they choose to utilize our platform.
We believe this is a very efficient go-to-market strategy and the win-win situation between the users, the company, and large web portals. Using a revenue sharing model, they will have an incentive to integrate the Experty.io platform into their existing system. We will also provide them with software development services in order to make the integration process as smooth as possible.
Token Value and Business Model
To create real value for Experty.io token holders, we decided to use a unique mechanism licensed from New Alchemy called “Cash and Burn”. Experty.io will generate a limited amount of tokens for contributors during the ICO and the pre-ICO. A small percentage of every transaction on the Experty platform will be placed on the Experty Asset Contract (EAC).
At any time, any Experty.io token holder can “Cash and Burn” their tokens. Thereby, an EAC holder may irrevocably destroy or “burn” tokens in return for their share of licensing fees held by the EAC.
Read more about Experty in our whitepaper.