Experty ICO - Review(Not Financial Advice)

in #ico6 years ago (edited)

Disclaimer - I am not a financial advisor. Do you own research before investing in ICOs.
experty.png

Project Overview

Experty is a project created by founders of React Poland - Kamil Przeorski and Tom Dyl. It aims at creating a decentralized video-or-voice calling platform(dapp) to connect advisors(experts) and advise seekers. Seekers can pay the advisors in either tokens(primary token - EXY) or fiat for their valuable time.

Project link - Experty

Idea Validation and Feasibility

There are a lot of applications already available like skype which is being used by businesses to connect expert with knowledge seekers.
So, why do you need a decentralized application?
There are some intrinsic properties of blockchain like security and anonymity which can surely be utilized by any platform. There is nothing unique about that. The problem with current platform lies in the transparent payment system between the two parties.
Currently, the payments are handled in three ways:

  • The seeker has to pay the price upfront and the advisor may run away with your money.
  • The advisor is paid after the session - so the seeker can run away without paying
  • Third party services are involved which have trust issues

There is a smart solution which is enabled by smart contracts. The expert sets a price per unit of time. The dapp is linked to a wallet. As soon as a session ends, the required number of tokens is transferred from the seekers's wallet to the advisor's wallet.
There are certain problems they might need to solve which I am sure they are solving:

  • Making sure the expert is an expert - community based rating system might help that. There should be legit links(like github, linkedin, facebook) to verify the credentials of the expert.
  • If the seeker's wallet doesn't have enough funds, the call should immediately disconnect after the total funds for equivalent time gets exhausted.

Team Review

As I already mentioned the founders of expert are also the founders of React Poland. So, they have a programming background to pull this off. There is only one solidity engineer Grzegorz Kućmierz(who is also the co-founder) who has worked with Cisco. The communications manager has worked with cointelegraph and fidelity investments, There are a bunch of profiles for other developers which I didn't see a need to look at considering the leadership team is already well proficient. But I still liked the transparency.

Advisor Review

There are a bunch of advisors from various backgrounds - marketing, law, blockchain, communications. I will mention the ones I liked the most.

  • CRAIG SELLARS - Ex-CTO Bitfinex, CTO of Tether & BLOCKv(ignoring the rumors with bitfinex recently)
  • PAWEL BYLICA - Ethereum, Golem, Software Architect
  • NICOLAI OSTER - Head of ICOs, Bitcoin Suisse

Most of them have a loaded linkedin profile. The only thing concerning is most of the profiles doesn't have experty in their linkedin profile.

EXY Token Introduction and Utility

EXY is the trivial method of payment for the services provided by experty. There are other tokens which will also be supported. The advantage of using the EXY token is the 0% transaction fees which is pretty common strategy with every dapp.

Tokenomics

The token allocation looks good. 9 million hard cap is pretty low considering the explosion in the market cap recently with bitcoin going ATH. That gives it a good 5x-10x to grow without any resistance.
Screen Shot 2017-12-14 at 4.25.00 AM.png
The whitelisting is based on proof of care(POC) as used by quantstamp. The partner tier(60% bonus) and the tier #1(50% bonus) are pretty sweet but will also require the maximum effort. Those who don't know about POC, it is a method by which an ICO judges how much you are excited(care) about the ICO by looking at your social media activity.

Website Review

Of all the ICO websites I have visited, this looked the most organized. The flow of information is in order which will appeal to me as an investor. The explanation is pretty simple. I don't even need to look at the whitepaper to know the idea. The FAQs page is also pretty informative.

Partners

There are already a bunch of renowned partners who are ready to use this platform including Bitcoin Suisse and MindSports.

Potential Partnership Opportunity with us

Before discussing the potential partnership with experty, I need to discuss what we intend to do. We are creating a platform(EZDiagno) where a patient can take second opinion from the doctors. This is a pretty common used case because sometimes patient may not be mobile enough to go to a specialist doctor in a different city.

How can experty help us?

  • We need a platform where patients can directly communicate with the doctor from a remote location
  • Doctors should be paid automatically through a trustless system
  • Additionally we would also need a medium to share medical reports with doctors while taking the second opinion - file sharing is something the team needs to look at to make it even better.

Also most people would want their payments in fiat because they are not so aware of cryptocurrencies.

Github

The github profile is pretty active with 72 commits and the last commit made two days ago.

Social Media Presence

Telegram - 5k members
Twitter - 4.7k followers
Medium - 260 followers

Pretty decent. Anything above 5k is considered good.

Verdict

Experty is a pretty awesome project with a real world use case. There is competition from products like skype but it solves the problem of trustless payments which is unique. The team is good. The advisors are good.

This is my first review on an ICO. So, please forgive me if I sound naive.

Sort:  

Cool! I follow you.

Coin Marketplace

STEEM 0.29
TRX 0.12
JST 0.033
BTC 63149.00
ETH 3156.91
USDT 1.00
SBD 3.85