In our last article, we discussed how Maester Protocol provides a hassle free digital consulting experience, let’s now see how blockchain has been smartly used to revolutionize the digital consulting industry . No matter how small or big an organization is, from huge industries to start-ups, there is always scope for consultation to improve workforce efficiency, to solve complex problems quickly or to simply acquire domain knowledge for project feasibility studies The consulting industry has a big contribution in the global service sector. It has already reached $ 250 billion mark in the US in 2016.
The vision of Maester protocol is to connect professionals across various industries through one single platform, and make them easily accessible to customers who need their expertise .
On-Demand Economy Consumers(In billions) Spending in recent years(from 2016 to 2017):
- Transportation: an increase of 7.6 Billion
- Housing: an increase of 5.6 billion
- Food delivery: an increase of 4.3 billion
- Health/beauty: an increase of 0.9 billion
- Online marketplace: an increase of 11.7 billion
Overall there has been a staggering increase in the On-demand Economy consumer spending i.e. from 48 billion to 75.7 billion which is an increase by about 60%in just 1 year.
Blockchain comes into picture as it facilitates Maester Protocol to develop a platform where on demand economy and professional consultation join hands. With the help of blockchain, Maester Protocol looks forward to capturing large share of the professional consulting market. Master protocol is the world’s first blockchain based protocol for on demand consulting. In today’s world people use the internet to search for everything but since most of the information available online is unverified, Maester protocol has provided a platform wherein, through the use of Blockchain, it has created a seamless mechanism to connect verified professionals and knowledge seekers together. Personalized consultation saves a lot of time for the users in indefinite internet searches and they also have a much more satisfactory experience.
Blockchain’s contribution to Maester Protocol:
Let’s take a look at the unique selling points (USPs) considering that the process involved in this platform is broken in two parts; On-chain, which is related to the payments and security, and Off-chain which is related to the search engine backend and communication protocol. The USPs of moving a part of the process on blockchain are as follows:
- Instant and low cost payment: The use of Ethereum blockchain enables faster and cheaper payments as compared to traditional banking or payment gateway methods
- Freeze wallet: Smart contract on blockchain blocks all the money in the caller’s wallet once he initiates a call so that he cannot use same money elsewhere. Authorization by both parties’ private key happens every second automatically
- No financial dispute: When a caller initiates a call, Smart contract on the backend is invoked. It captures callers’ & receivers’ information such as availability, call rate, account balance etc & auto-debits the caller’s wallet at the end of call based on proof of work. This ensures seamless financial settlement
- No legal dispute: Decentralized nature of blockchain ensures security; the data saved on the blockchain cannot be tampered or leaked after the call and no editing is allowed in users’ account settings during the call. This ensures a dispute free platform.
Total transparency and security of payments is ensured by blockchain, hence making it a trustworthy and a user friendly alternative.
Not only does the Maester protocol solves the problem of an existing digital consulting market for people from knowledge based industries, it also has the power to create a brand new and much bigger market by enabling ordinary skill based experts to monetize their skills or passions by solving regular day-to-day problems of people.
The blockchain powered protocol for on-demand consulting can be a path-breaking contribution to the global knowledge sharing ecosystem and would bring about a paradigm shift in the way people acquire and share knowledge, forever.
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