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Traditional centralized question-and-answer (Q&A) platforms draw millions in revenue from advertising and job posting. In 2019, for example, Quora was valued at $2 billion and drew $60 million from investors in an investment round. Popular Q&A coding platform, Stack Overflow, was recently acquired for $1.8 billion. Content contributors reap indirect benefits like reputation, and top contributors get job offers from companies like Google. By March 2021, Stack Overflow had more than 14 million users who had provided over 31 million answers to more than 21 million questions. The users of Stack Overflow gain reputation points and badges for their input, representing gamification of the Q&A segment of the knowledge market. Other players in the knowledge market, such as CourseHero, Chegg, StudyPool, and other similar Web 2.0 platforms, usually pay contributors but aggregate the content/knowledge, protect it as their property, and sell it multiple times to clients seeking answers. Clearly, the traditional players in the knowledge market are used to crowdsourcing knowledge and selling the same for the benefit of venture capitalists and investors only.
The dawn of Web3 has created an opportunity to transition from the traditional, centralized knowledge market to KnowledgeFi. The evolution of the internet towards open-source technology and trustless, permissionless blockchain technology signals the need for decentralization of the knowledge market. $Ans.Best effectively satisfies this need.
Anchored in the third iteration of the internet, $Ans.Best is a community-owned Q&A platform for knowledge sharing and collaboration where the content contributors are the owners. The platform will work in a similar way to existing Q&A sites such as Quora and Stack Overflow but will steer away from the dominance of big tech firms and venture capitalists by leveraging decentralized technologies that turn users into owners who earn tokens for their contributions. Unlike traditional knowledge market tech, where contributors earn indirect benefits such as reputation, $Ans.Best users will get direct benefits in the form of tokens as well as contributions to decision-making as owners.
Please check the white paper(https://knowledgefi.io) for more information.
