Trust and Quality assurance
Trust is an important factor in our daily life. We buy products from the companies we trust, we take services from the providers we trust, we do business on any platform only after we could trust. So many organizations, service producers invest a lot to gain the trust of their customer in the form of referrals, by social campaigns, by advertising their principles and values for people to trust them. This amounts for a lot of capital for customer acquisition.
One the other hand we customers, for quality assurance and trust, turn to infamous brands, contractors of high standing, or any type of intermediary who assure us of the quality of the service they provide. And sadly we have pay them a lot of transaction fees. The entire service sector is plagued by the inefficiency that the large chunk of the money we pay don’t end up with the actual service providers, the people who actual do the professional work. And thus increasing the cost of service.
Crafty
This is where crafty would come in. It solves the problem for the two parties, service providers and customers, as platform that represents trust, non-censorship, and with no intermediaries. This is done by recording every transaction on to a blockchain, with its own native currency that is rewarded to both parties to be an incentive to help grow the community and the value of the blockchain. Blockchain amounts for the transparency, non-censorship, and decentralization and the native currency would the incentive and the potential value of the blockchain. This is trust with no intermediaries.
For the quality assurance of the service provided, crafty adapts a reputation rank which depends on the reviews by your previous customers and their reputation rank. This is great way to optimize the quality of the service we get and would be an incentive for the professional to seek excellence in his profession. They even have training courses for different professionals to grow their skills.
Thus Crafty brought efficiency in to the market increasing remuneration of the service provider and decreasing the cost of the service at the same time. This is the revolution that has the potential to dominate the whole market.
There are things Crafty does in a sophisticated and efficient way that would attract people's reasoning to a large extent. Reputation value, CRAFTY tokens, and the blockchain underneath the platform would be prime among those things.
Reputation value The concept of evaluating each other after a business transaction is very old and implemented in most of the platforms. But with Reputation value crafty makes that implementation very sophisticated. Every review is not the same, the aggregate review of a service provider/customer will be weighted according to the respective reputation values of the reviewers. For example, like the upvotes on steemit, but in a more complicated and fool-proof way, even taking in to consideration the network and value chain. Manipulation of the reputation value would so harder than to earn it in legit way.
CFTY Token In most platforms participates wouldn't have any incentive to review/evaluate their counterpart after a business transaction. But in crafty , CFTY tokens are awarded after a successful evaluation. This would be an incentive to participants to evaluate their counterpart and also to help grow the community that increases value of the token they hold.
Blockchain Uses of blockchain are without end. so creators are eager to foster its potential in every industry possible. Here Marketing is not an legit action on blockchain. so there would be no manipulation or 'buying offers with money' in this platform. This would bring justice for every service provider,small or big, giving importance for their professional skills rather than the money of contractor/intermediaries like before.
Crafty AI
Combined with this trust and quality assurance, efficiency is achieved by improving the value chain quality avoiding information asymmetry that account for the wastage of energy and resources that in turn account for the transaction fees for both the parties. This is done by AI and machine learning. It involves finding effective network structure that would best amount for the fair and precise matching of service providers and customers and their fair reputation ranks.
White paper
You should definitely check out crafty whitepaper if you are interested to know more about and grad information to participate in their ICO. It has a lot of data on their potential market, problems from the past, Crafty's solutions and everything you have to know. Some important topics that are must read are:
3.4 Information asymmetry and inefficiency of relations: which deals with problems of inefficiency like 'lack of offer' and 'cost of publicity' which arises from information asymmetry, which is finally born by the customer. This is the principal problem crafty is solving which plagued service sector since civilization. This would be a revolution that could change how the services are provided and consumed.
4. Crafty solutions: talks about reputation as value and currency, valuing the reputation, Direct relations assisted by IA. These are the solutions proposed by crafty to solve the problems above mentioned.
5.3 Positive results includes reviews from the users of Diaríssima app (Crafty's MVP) in brazil which would represent the potential of the idea and the validation of the idea.
6.4 Roadmap develoment which describes their strategic plan to foster the extreme potential of blockchain and their business. It is very exciting so I explained it below.
7, 8 & 9 chapters explain the technical aspects of the implementation and 10 chapter the legal aspects.
Sneak peak - " From seventeen of Sustainable Development Goals - SDG, Crafty proposes to tackle solutions to five." - Crafty Whitepaper 4.3 social concern
Crafty before now - Diaríssima: traction and proof of concept
Diaríssima is patented business model with the idea of reputation ranks to amount for quality assurance. And it had very good traction in brazil adding millions of satisfied customers with just a little capital for customer acquisition. Its experience with that business model and all the lessons learned would make it stand at a good position to adapt to this blockchain technology that would revolutionize the entire service sector.
Roadmap for the future
There are quiet a great many things planned to make crafty lead the market.
Recommendations by AI is a great thing to avoid informational asymmetry that amount for the wastage of energy and resources, and in turn reduces efficiency. This would be great!! I am personally more excited as an AI person. (Q1 2019)
Crafty AI assistant has the potential to immediately add a huge diversity of service providers and customers. (Q2 2019)
Recommendations based on user spatial information is also has the potential to make great connections between the content providers and customers. (Q3 2019)
Learning value chains with in the platform through AI and machine learning would bring a great efficiency to the platform as a whole, the reputation ranks would be fair, recommendations would be more fruitful and the value of the platform increases to a great extent. (Q1 Q2 2020)
Public Crafty ICO begins at February 12th 00h UTC.
This is the submission for a @originalworks sponsored contest Crafty2018 -- https://steemit.com/cryptocurrency/@originalworks/140-steem-35-bonuses-sponsored-writing-contest-crafty
Crafty2018
Submitted.
Thats good to hear!! waiting for the evaluation.
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