ICO Alert does not endorse or recommend participating in any initial coin offerings. ICO Alert receives a promotional fee for the production of this ICO Alert Report. Please click here for additional important information.
What is Experty?
Experty is the Uber for knowledge sharing. Consultations are made through a voice and video calling application, allowing experts to be paid directly for their time. Experty is better for consultations than Skype because all payments are automated and done over the blockchain. Experts set their own rates and get paid instantly through Experty’s smart contract whenever they are called.
Omar from Crypt0’s News likes the idea and plans to use it. He stated:
“It’s very rare that I hear about a project that actually is creating something that I can use myself… I look forward to trying out [the Experty app]”
— The Experty Team
Here is his full interview with Experty:
ICO Alert: How does the Experty token (EXY) function within the platform and why is it needed?
Experty: The EXY token will be used for all payments, from advice seeker to knowledge provider. In addition to this, premium features will be available for people who have staked enough tokens on their wallet (a similar methodology to master nodes). Example features are:
ICO Alert: The foundation of the Experty platform is the “paid knowledge exchange” between individual users. What are some other use cases you see arising over time?
Experty: Some examples of Experty’s future users are:
- MME (i.e. for blockchain lawyer consultations via Experty)
- Bitcoin Suisse (i.e. for ICO and crypto paid hotlines via Experty)
- ProofSuite.com (i.e. for premium help desk via Experty)
- Quantstamp (i.e. for smart contract education and consultations via Experty)
We have partnered with some of the best and most well known blockchain companies that plan to use Experty.
We are also targeting crypto influencers, such as Josh Olszewicz, a popular Twitter and YouTube crypto personality. Josh expressed his interest in using the Experty app, stating:
“I immediately saw an opportunity for myself to use the Experty app. It’s very hard to scale 1-on-1 knowledge sharing at the moment.”
ICO Alert: Can you give us an estimation on how large the consulting industry market is currently? How much of that market is digital? What are the future predictions for the industry?
Experty: The consulting industry is estimated to be valued at $125 billion, of which $23 billion is digital. We see the opportunity to expand beyond the current market, since we have the opportunity to create a new economy, similar to how Airbnb or Uber did.
ICO Alert: What are some of the major issues with current paid knowledge exchange platforms?
Experty: The main issue that comes with paid knowledge exchange platforms are that they require an intermediary to hold and distribute funds. Users are faced with high fees, slow transfers, long setups, and are limited by location. Blockchain technology increases transparency and trust in the consulting industry.
ICO Alert: What if a knowledge provider is not a user of cryptocurrency?
Experty: Our mission is to encourage the adoption of cryptocurrency on a global scale by creating an intuitive, easy to use application that is suitable for wide scale usage.
In the first year of operations, we will focus only on crypto influencers and experts, because the current state of the technology doesn’t allow us to focus on users outside of this. Our plan is to be the most popular consulting application in the blockchain industry within the first year.
Later, we will make it so that Experty can be easily used outside of the crypto space (ie. you use a credit card to buy EXY credit tokens, so the tokens are just inside the app).
We have a very experienced team of over 10 developers who are confident Experty can achieve its long-term mission.
ICO Alert: Why would a user utilize Experty over other blockchain platform services for knowledge exchange?
Experty: We have a growing community of supporters and partnerships, and we already have a prototype available. Experty’s easy to use interface, coupled with our smart contract, will allow anyone in the world to use our application.
ICO Alert: How do knowledge providers and knowledge seekers interact within the platform? Can you take us through a specific user case?
1. A knowledge provider sets his/her rate in U.S. dollars (for example, $5 per minute).
2. An advice seeker is aware of the main pricing in USD before he/she decides to make a call.
3. The Experty app calculates the amount of EXY tokens required per minute based on the USD/EXY conversion rate on the secondary market.
4. The advice seeker tops off his/her account by using one of the available methods (USD, BTC etc.).
5. The advice seeker starts the call.
6. The knowledge provide receives EXY tokens based on the conversion rate.
7. A value for knowledge exchange occurs.
As an example, Experty can be used by influencers to monetize different social media channels, for example:
ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the Experty platform?
Experty: This is exactly why Experty needs the EXY token. If the Experty application reaches mass adoption, it is possible that the Ethereum network will not scale quickly enough to handle all of our transactions. Having our own token will allow us to migrate to whichever platform is most suitable for our needs.
ICO Alert: As a non-Experty question, we like to ask for unique predictions for the ICO and crypto currency space in the future. Where do you see both in the next 3–5 years?
Experty: With the rapid arrival of new blockchain startups, ICOs, increased adoption, regulation, and government support, we believe that blockchain technology has a bright future. ICOs provide funding to kickstart important blockchain projects, pushing blockchain towards mass adoption. In the next 3–5 years, we see blockchain technology being widely used and accepted in the public and private sectors.
The pre-ICO for Experty tokens (EXY) will begin on December 13, 2017 and will run for 60 days, or until hard cap is reached. A hard cap of 33,000 ETH is set for this period. 1 Ether = 1,000 EXY. The token bonus is as follows:
Pre-ICO = 40% token bonus
The EXY token is an ERC-20 token, therefore, an ERC-20 compatible Ethereum wallet is required to store the tokens.
Visit the EXY website for more information and the contribution address.
Token Distribution Information
There will be a maximum supply of 100,000,000 EXY tokens created, with 33,000,000 (33%) available during pre and main ICO periods.
EXY tokens will be distributed to the contributors wallet immediately after transaction. The whitepaper is available for additional details regarding distribution.
Maximum supply: 100,000,000
Supply available during pre/main ICO: 33,000,000
33%: ICO period
33%: Company tokens (vested three years)
30%: Partner tokens (locked for 18 months)
3%: Airdrops and bounties
1%: ICO costs
Use of ICO Proceeds
40%: Software development
40%: Marketing and promotion
15%: Long-term research
5%: Legal and administrative
Kamil Przeorski, CEO
Kamil is the CEO and co-founder of Experty. Previously, he was a co-founder at React Poland and IT manager at Unit9 Digital.
Tom Dyl, CTO
Tom is the CTO and co-founder of Experty. Previously, he was the CEO and lead developer at React Poland.
Greg Kucmierz, Solidity Engineer
Greg is currently the solidity engineer at Experty. Previously, he was a software engineer at Cisco and was also a front-end developer at JadeCode.
Matt Saczewski, Marketing Manager
Matt is the current marketing manager for Experty. He is a blockchain enthusiast and ReactJS team contributor. Matt was formerly the marketing manager at React Poland and co-founded ColabSPACE Coworking.