(I am not a financial advisor. This is not financial advice. Please DO YOUR OWN RESEARCH!)
Democratising the digital consultation marketplace.
Experty has developed a blockchain based calling platform that allows two or more parties to connect via video or audio call. The knowledge provider can set their rate per minute, which is paid by the knowledge seeker when they call. This transaction is conducted over the blockchain using an Ethereum based smart contract together with off-chain software.
Problem
• Upfront payments provide risk for the knowledge seeker as they are required to transfer funds prior to the consultation.
• The time the consultation will take and therefore cost is unpredictable.
• Payment after consultations are a risk for the knowledge provider.
• The provider does not know if or when they will be paid.
• A high level of trust is required for 3rd party service providers.
• 3rd party payent services present worldwide legal issues.
• There is a high cost of withdrawals for knowledge providers from 3rd party providers.
• Account holders with 3rd party payment providers usually require a minmum withdrawal balance is maintained.
Solution
• Blockchain technology provides the ability to make micro-transactions worldwide. This allows knowledge providers to receive compensation for value they provide to knowledge seekers.
• Knowledge seekers must provide enough funds for at least 30 seconds of a call to initiate conversation.
• Exact conditions of the call are provided by the provider to the seekr on initialising the call and executed on the blockchain through an Ethereum based smart contract.
Use Cases
• Lawyers
• Medical consultants
• Pair programming
• Business consultation
• Professors / Courses / Tuition
• Webcam Chats
• Charity Donation Actions
• Premium support services across a wide variety of industry
• Software developers
• Advisors
• YouTubers
• Celebrities
Current State of Product
Experty released their Alpha in Q4 2017 and are planning for market release in Q1/Q2 2018.
2014
Software consulting company React Poland founded
React Poland complete first small crypto project for SatoshiPay
2015
Initial solidity smart contracts and web3 internal projects
2016
Blockchain projects research and analysis
2017
Q1 – Project concept
Q2 – Commence development
Q3 – $700,000 seed investment round
Q4 – Alpha release and planced Token Generation Event
Mobile / Webapp Beta (iOS / Android)
2018
Q1 - Contacts Management
Ethereum Wallet
Security Audit
Market Release
Q2 - Call-Me Web Links
Q3 - Desktop Beta
Desktop release (MacOS / Windows)
FIAT Gateway
Q4 - Advance Payment Rules
2019
Q1 - Refinement Based on Users Feedback
Team
CEO / Founder – Kamil Prezeorski
Kamil has close to 4 years experience as the founder of React Poland, a blockchain consulting and development company.
CTO / Co-Founder – Tom Dyl
Tom is the current CEO & Lead Developer at React Poland. He has no other prior experience listed on LinkedIn and has limited followers (43). Tom’s GitHub account is active with a noticeable spike in commits during the second half of 2017.
Solidity Engineer / Co-Founder – Greg Kucmierz
Greg has previous experience as a software engineer at Cisco (over 2 years) and front-end developer at JadeCode (less than a year). No other prior experience is listed on LinkedIn.
The Experty team appear to be a little weak beyond the co-founders and I’m concerned that the team from React Poland have been moved over to Experty. Experty advisors though appear to be first class and I believe with their guidance will strengthen the team and compensate for relative inexperience.
Community
experty.io
Twitter 15,600 followers
GitHub 10 repositories / 1 person. Last update < 1 hour ago
Telegram 16,950 members
Medium 1,00 followers
Token Metrics
The Experty Token (EXY) is created only during the Token Generation Event. It will be used for the following:
• All payments from advice seekers to knowledge providers
• Staked by users for access to premium features
• Used by advice seekers as a deposit for advance scheduling with a knowledge provider
EXY tokens will be sold within the Experty applicaton via various methods including the following:
• Credit Cards (Visa, Mastercard etc)
• Ethereum
• Bitcoin and other cryptocurrencies
Soft cap: 2,000 ETH (refunded if the soft cap is not reached)
Hard cap: 33,000 ETH or $9,000,000 USD (whichever is lower)
1,000 EXY = 1 ETH
PoC Partner Tier – 60% bonus + flat 5,000 EXY (regardless of amount)
PoC Bonus Tier 1 – 40% bonus + flat 1,000 EXY (regardless of amount)
PoC Bonus Tier 2 – 20% bonus
PoC Bonuse Tier 3 – 10% bonus
Proof-Of-Caring deadline – 15th January 2018
Token supply and distribution
Total = 100,000,000 (100M) EXY tokens
Token Generation Event (TGE) Allocation Tokens – 33%
Company Tokens (vested for 3 years*) – 33%
Partner Tokens (locked for 18 months) – 30%
TGE Costs – 1%
Airdrop and Bounties – 3%
Every month beginning on February 2018, the contract will release 1/36 of the total EXY company tokens. All EXY company tokens will be released by February 2021.
Experty is using the ERC223 standard (an updated version of ERC20). It requires less gas than ERC20, prevents tokens being lost when sent to incompatible contracts and is fully compatible with ERC20 for the purpose of exchange listings.
Purchase methods accepted directly: ETH
Purchase methods accepted via Bitcoin Suisse: ETH, BTC, CHF, USD, EUR, JPY
Funds Allocation
5% - Legal and Administrative Costs
40% - Software Development
40% - Marketing and Community Building
15% - Long Term Research Team
Things I Like
• Definite use cases for blockchain / smart contracts
• Wide range of use cases
• Expanding industries including technology, social media marketing, consulting etc
• The ability for users to share their Experty contact information on current marketplaces where they currently have an engaged audience (YouTube, Facebook, LinkedIn, Twitter etc)
• End users of this platform (influencers and companies in the blockchain ecosystem) are being targeted to leverage the Experty go-to-market strategy using a revenue sharing model
• Fiat can be used on the DApp (which I’d usually have as a red flag) however this will attract non-blockchain users to the platform AND any use of fiat will attract extra fees to be paid in EXY tokens.
• Long vesting period for the team
• Low hard cap which is capped against both ETH and USD. This prevents the blowout seen recently with Bluzelles and issues associated with pre-sale contributors overflowing into the public sale allocation
• First class advisors
Things I Don’t Like
• Experty is a DApp which historically don’t realise the returns of infrastructure projects
• Major team members still in prominent positions with React Poland
• General inexperience of team below the co-founders
Will I Be Investing?
In my opinion Experty is one of the best DApp offerings I’ve seen. They are not putting a centralised application on the blockchain for the sake of it – decentralisation is essential for their value proposition. Their team has recent and relevant experience in the field despite lacking a little experience however I believe the wide range of first class advisors working with Experty will far outweigh this and leverage what is already an excellent offering.
I’ll be taking a medium position on this ICO.