How many times have you hit a roadblock, a problem that you were unable to solve yourself or with the help of your personal and professional acquaintances? You desperately needed an unbiased opinion of an expert, maybe you found someone locally or you connected with an overseas expert but by the time you received the advice or the information you were looking for, you were quite exhausted and maybe you even spent some money to find the expert.
Finding the right expert is a time-consuming process. Hence individuals and organizations rely on expert networks. Expert networks are businesses that connects the information seeker to the right expert in exchange for a fee. With the growth of new age technologies, processes and compliances which require immediate action, the expert network industry is also growing by leaps and bounds. In the year 2017, the industry generated over $1 billion and is expected to grow exponentially.
Currently, the expert network industry is monopolized by big names such as GLG, Alphasights, Third Bridge and Guidepoint. These expert networks act as an intermediary between a subject matter expert (SME) and the client. The procedure to obtain a piece of advice from the SME is simple, the client approaches the expert network for assistance. The expert network then matches the client requirement with the available SME’s skill set and connect them. At the end of the session, the client pays the expert network who pays the SME after keeping a profit cut from the amount received.
At the first glance, the process seems simple and streamlined however there are many underlying inefficiencies such as payment related disputes, confirmation of call length and underpayment to SME by the expert network company are quite prevalent. With the aim to make the monetized exchange of knowledge faster, easier and more efficient, the idea for Experty was conceived.
Experty is a decentralized platform for monetized knowledge transfer. With Experty, getting an expert opinion is an easy task, anyone with a smartphone can get excess to an expert at a predetermined per minute rate set up by the SME or the expert. The process is transparent and blockchain based. The Experty tokens or EXY tokens are the medium of monetary exchange, they can also be used as a deposit for scheduling appointments or access premium features as well as for settling payments.
Experty could also open the expert network industry to professionals who can connect with their client base and be monetarily benefitted by them. Take Instagram influencers, YouTubers, Digital influencers of any genre can be hugely benefited by Experty. They can interact with their fanbase and use Experty for raising funds for their personal use or for a cause such as a charity fundraiser. The existing big fishes in the expert network pond may even partner with Experty to reduce inefficiencies in their existing system.
Experty can thus open a new avenue for professionals where they can get rightfully paid for their expertise. It will also provide an easy hassle free on demand paid knowledge consultation to clients at any time in the day(or night). Blockchain technology is disrupting almost all known fields be it healthcare, supply chain or fintech and expert network industry is no exception. Experty is leveraging the disruptive decentralized technology to provide a transparent and common platform for monetized knowledge exchange.