Digital learning company Knowledge.io has announced plans to develop a first-of-its-kind blockchain-based platform that aims to quantify and qualify the value of knowledge. To raise the funds necessary for continued development and adoption of its solution, Knowledge.io will launch an ICO for its Knowledge Tokens on January 15th, 2018.
Knowledge.io aims to revolutionize the way the world values knowledge, with a blockchain-based knowledge sharing platform that will power decentralized knowledge sharing networks, enabling greater exchange between knowledge sharers and rewarding participants for their interactions across a diverse range of sectors.
Knowledge.io co-founder Steven Englander explained the company’s goal to democratize knowledge-sharing through an incentivized model:
“By rewarding people with Knowledge tokens, we are able to provide a decentralized knowledge sharing ecosystem where knowledge flows between advertisers, partners, and users for the benefit of the entire community’s decision making in areas such as commerce, education, and employment.”
Global economies have come to recognize the importance of the “knowledge-based economy” that emphasizes the production, distribution and use of knowledge. Still reeling from the effects of the last global financial crisis, many national economies, such as that of the UK, have diverted investments from tangible to intangible assets, of which knowledge-based sectors are part. The impact of knowledge on developing economies is even more pronounced, with OECD reporting that knowledge-intensive sectors such as education and information accounting for more than 50% of major OECD economies’ GDP.*
Within the knowledge industry itself, modern enterprises work hard to narrow the gap between knowledge producers and economies. Some major platforms focus on the aspect of workforce, connecting employers and knowledge workers, allowing users to market themselves within industry networks through user-generated content such as skill-based insights and testimonials. Others facilitate knowledge sharing, through open networks of community-identified experts, rated and moderated within the networks.
These emerging industries are seeing significant income, largely in part to advertising revenues. LinkedIn recently reported revenues close to $1 billion in Q3 2016, with 25% of that coming from advertising. Quora, valued at $1.8 billion, also started ad monetizing in 2016.
While the recognition of knowledge is certainly increasing, the global economy has fallen short of appreciating the true value of knowledge as represented in people, otherwise referred to as human capital. The Human Capital Index 2016 bluntly revealed that “the global economy has failed more than a third of the world’s talent”, despite the strengthening correlation between economies’ income levels and their capacity to develop and deploy knowledge via human capital.
Even the modern enterprises of the knowledge industry fall short, with centralized platforms retaining most or all of the revenue generated from the knowledge producers and sharers using their platforms. The few that do reward users – Steemit, for example – are still unable to provide a way to properly measure the quantity and quality of knowledge shared.
Another shortfall is the ownership of knowledge – users on all these platforms do not retain ownership or exert control over their content. Their knowledge risks being sold on to providers, advertisers and recruiters.
As the world transitions to the Fourth Industrial Revolution, there is a growing urgency for educators and employers to fundamentally rethink the way it values knowledge.
Knowledge.io envisions a future e-Learning rewards-based platform that has the appreciation of knowledge at its core – celebrating it and rewarding it.
It introduces a revolutionary way for people to validate each other’s knowledge and expertise, while connecting experts with advertisers who will conduct transactions with Knowledge tokens. These tokens are rewarded for providing knowledge and can be used to pay for products within the Knowledge.io ecosystem that validates through gamified learning and verification of expertise.
Levels of knowledge possessed by users in particular topics will be represented by the Knowledge Score technology. With a base of over 10 million questions across a topic spectrum, complemented by existing data partnerships with vast, proprietary data sets, Knowledge.io expects the generation of a virtually endless supply of topic-based Questions and Answers.
Beyond incentivization, another key benefit of the platform is that it tracks learning and records knowledge validation. Knowledge.io believes that this has far-reaching implications for future generations of learners, with opportunities for younger learners to earn enough tokens to pay for higher education and a Knowledge Score that will help prove to the world what they know.
Knowledge.io will launch its ICO on January 15th, 2018, offering up to 50,000,000 Knowledge tokens for sale to the general public. The crowdsale seeks to raise the funds needed for the continued development of its knowledge sharing platform, with the majority of proceeds dedicated to company growth.
Knowledge.io has its conceptual origins in the recognition, rewarding and celebration of knowledge. It considers that all knowledge is valuable not only to the individual that possesses it but to the society that benefits from interacting with that knowledge.
Through a platform that integrates educators and employers with advocates and knowledge sharers, all knowledge participants can exchange and value knowledge through voluntary or gamified interaction. Knowledge.io believes that its solution will be the first able measure the value of knowledge, while its model of incentivization will aid the development and propagation of knowledge crucial to the improvement of education, economy and society.
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