What is Experty.io?

A recent ICO caught my interest. It is in INC list of top 10 ICO to watch in 2018. The name of this ICO is Experty. 

https://www.inc.com/bill-carmody/top-10-initial-coin-offerings-icos-to-watch-heading-into-2018.html

When I first look at Experty.io website, I had the initial impression that this company will be building a chat application and is seeking an ICO to fund it. 

What Experty is building is more than just a chat application, it is a Blockchain based calling platform that will allow an individual to share his expertise or knowledge via voice and video calls to individuals or teams that need his/her advice or consultation.

By the way, they do have a beautiful website.

Experty.io intends to provide a platform that will connect Experts or Knowledge Providers a means to connect to a worldwide audience and client base. Experts or Knowledge Providers can now actively monetize their knowledge when they act as an advisor or consultant to anyone over the internet. 

While Experts and Knowledge Providers have always been able to charge for their expertise, the process has more than often been a offline process where clients meet these experts, such as Lawyers, Doctors, Scientists and Consultants etc, at their offices. 

This limits the extent that Experts can monetize their knowledge as they can only serve clients within a geographical area. 

Going online is an option for these Knowledge Providers but online payments adds an additional layer of friction which discourages both the Knowledge Providers as well as Advice Seekers. Issues with “Does the client pays beforehand or does the client pays afterwards, how will the fee be counted” are limiting the online potential of this market. 

With Experty, payments will be executed over the blockchain. What this means is that even before the consultation starts, the fee per min would have been determined and the Advice Seekers’ funds would be verified and locked on the blockchain so that once the consultation ends, the fee would be paid to the Knowledge Provider immediately. 

This provides certainty for Experts who wants to monetize their knowledge, and they are not burden with the need for fee collection nor will they have to pay heavy fees to a third party to handle payments for them. 

Note that this payment process carries zero fees. Hence the Knowledge Provider will not be loading his rates to cover payment processing fees versus him/her using a third party. 

Uber For Knowledge Provider

I think we can draw parallels to Uber in terms of how “skills” can be shared and paid but in this case, the reach by every Expert or Knowledge Provider is global. 

Each Knowledge Provider will be able to “Sell” his knowledge and provide advice to anyone over voice and video calls online. 

Each Knowledge Provider will also be able to leave his paid call links or QR codes on anywhere he wishes to market his services.

These can be on his social media pages or even on existing portals that list Knowledge Providers like doctors, lawyers and other professionals. 

This is a powerful concept that will also incentivize the deepening of one’s expertise in areas where there are demand. And Experts will be able to monetize their knowledge unilaterally without having to rely on third parties. 

My opinion is that this application will see gradual mainstream adoption together with the trend of the Gig Economy of independent contract workers. The future will see the growth of independent Knowledge Providers and Experty.io will be the platform of choice for these Experts.

Do take a look at this ICO. I have summarise some of the pertinent details of Experty.io ICO as follows: