Knowledge.io will launch an ICO in January 2018. The startup wants to use blockchain technology as a way to evaluate knowledge and facilitate the exchange of value, in the form of digital tokens, for that knowledge.
According to its founders, the use of Knowledge Scores, tokens and other tools designed to grow the ecosystem should prove invaluable to advertisers, educators and online retailers. They also hope that Knowledge tokens gain in monetary value over time.
"Most learning systems out there are not gamified, and do not incorporate the element of fun, nor do they incorporate a financial rewards mechanism while learning," says Marcia Hales, a co-founder. "Knowledge.io solves the problem of being able to utilize data that scores how much a person knows about different topics, and records it to a blockchain."
The key concept is the Knowledge Funnel. Users have their knowledge tracked on a vast array of topics either voluntarily or through gamified interactions. Once collected, advertisers can segment their audiences based on their degree of knowledge or interest in a given topic:
- Observer — usually targeted by awareness driven campaigns
- Explorer — a consumer interested in researching more about a topic
- Beginner — an early user who might ready to make a purchase decision based on being exposed to a product or service
- Intermediate — somebody who knows and appreciates the finer aspects of using a product or service
- Master — a connoisseur and heavy user interested in the best of the best.
"We’ve all received report card, some people achieve high scores on standardized tests, people go on to have advanced degrees," says Hales. "But very infrequently do those scores ever matter in your day to day activities beyond your salaried employment or hourly wage as a loose expression of those scores."
A Knowledge Score is a way to measure a person's level of understanding of a wide array of topics -- from history, movies, cars and almost anything else under the sun. Those who attain high scores can be compensated with Knowledge tokens.
Let’s say you’re an advertiser targeting male sports fans during the Super Bowl with your newest car model. The commercial may cost you over $5 million so you need to get your money’s worth. The drivers that you’re targeting are between the ages of 21-35 and you know that they are sports fans. Wouldn’t it be nice to know exactly how much your target audience members know about cars? Because that information will affect you design the commercial and other campaigns.
Information gathered by the Knowledge platform should be valuable to advertisers and marketers. It lets them figure out what the target audience knows (or doesn't know) about the product or service. The insights gained can improve the effectiveness of campaigns, and increase the impact of budgets.
Knowing your customer is becoming valuable as the competition for shortened attention spans increases. According to hubspot.com, 63 percent of businesses listed generating leads and traffic online as their greatest challenge. The Knowledge.io ICO will launch in January.