Funds Available for EpiK Field Experts: $5 Million Per Person Per Year
This week’s announcement of the 10 founding field experts in China drew a lot of attention and response from users. Prior to this, you may have heard of “field experts,” but there are certainly some questions that remain unanswered.
- What exactly is a field expert? What exactly is this role?
- What do field experts need to do?
- What are the benefits for field experts?
- What industries can field experts help in the future?
So we will explain the aspects of field experts in layman’s terms, and we believe that you will have a better understanding after reading this article.
What is a Field Expert?
Let’s put all concepts aside for a moment and consider the question: what kind of person is a field expert?
Every field has its own field experts, just like when you think of painting we think of Leonardo da Vinci, when you think of computers you think of Turing, when you think of physics you think of Einstein and Chen Ning Yang, when you think of soccer you think of Beckham when you think of basketball you think of Jordan and Kobe Bryant, etc. Why? Because they are well known. Why famous? Because they are experts in their fields, they have made outstanding contributions to their fields. Of course, the above-mentioned people may not become EpiK field experts because some of them have passed away and some of them are not suitable to become EpiK field experts.
So, let’s put the big names aside for a moment and think about what it takes to become a qualified expert in the field.
Gladwell, in his book “Outliers,” proposed the “10,000-hour theory,” which means that to become an expert in a field requires 10,000 hours of deliberate training in one area. Based on 8 hours of dedicated work per day, 5 days a week, it would take about 5 years, which is already a very fast pace. A field expert is, in a sense, a senior practitioner.
For example, if you are an anime YouTuber, have explained a lot of anime in-depth, have watched a lot of anime yourself, can quickly identify what kind of anime is good, and have extensive and deep insights into their culture, then you are an anime field expert.
Therefore, “field” can be a rigorous discipline such as medicine and law, or a small strategy for life such as cultural travel and food, or a trendy hobby such as video games. Filed experts can be professors and teachers in our conventional understanding, or they can be field experts, such as forum management.
Basic Rules for Reviewing Nominations of Field Experts
The field experts need to be nominated by people who are already field experts, and the first field expert in the network is the Foundation; the Foundation only has the authority to name the first field experts.
Therefore, the first group of field experts requires nomination, background checks, and vetting by the EpiK Foundation, as well as voting and co-monitoring by the holders of the EpiK Token (EPK). Simply put, saying your company is valuable doesn’t count; it requires due diligence, auditing, and a number of other vetting actions to get a relatively correct valuation of your own company. The level of achievement, knowledge, and expertise of each individual needs to be backed up by data, public support, and credibility.
Field Experts are Key Players in EpiK
There are several core elements of the EpiK project that require special attention.
First, using distributed storage as a foundation to maximize data uptake through blockchain technology and the token economy.
Second, data is not in clutter, but orderly and useful data, i.e., knowledge.
Third, knowledge needs to be screened, reviewed, and uploaded by experts with a professional mindset.
Fourth, different knowledge in the same or different fields are constantly interwoven into a network, forming a knowledge map and building a huge knowledge base (links to the knowledge graph articles are included at the end of the article).
Fifth, the knowledge graph ultimately serves the AI field and opens up AI cognition.
If EpiK is a building, distributed storage is the foundation, and field experts are the architects of the building. What materials are used in the building (data), how the materials should be built (knowledge graph), and the future comfort and usability of the building (referring to the service AI field) are very dependent on these good designers (field experts).
Once you are familiar with the above points, you can understand the importance of field experts in the overall EpiK project.
Responsibilities of Field Experts
- Any person or institution may apply to become a field expert.
- The Foundation will focus on evaluating applicants’ ability to gain peer review in their field.
- The Foundation’s selection of the first experts in the field will be as decentralized as possible.
- The Foundation and field experts collaborate to develop field data formats, and data collection and annotation methods.
- Field experts need to accept the final knowledge graph data generated and have the authority to add, delete, and modify the data in the final registration chain.
- Field experts will be directly disqualified as field experts if they maliciously make up data volume.
The above may not seem much, but the work of a field expert involves data, involves his or her own field, and the workload is actually not small, so field experts can recruit their own bounty hunters. How do you understand bounty hunters?
For example, in a university, where a professor’s research sometimes requires the work of a graduate student, an expert in the field can also recruit relevant assistants and form his or her own team to work on the topic, with the other members of the team being bounty hunters. Moreover, the funding does not need to come from one’s own pocket, as we will see below.
Benefits for Field Experts: $5 Million Available Per Person Per Year
While field experts may already earn a significant amount of money for their work, the EpiK economy model provides a high level of income for them. The main goal is to motivate people to invest their time and effort in making the knowledge graph more complete and optimized.
According to the EpiK Economy whitepaper, a total of 331,776 EPKs per day will be produced on the main network, with 9% of those EPKs going to the field expert team, or 29,859.84 EPKs per day.
The first 10 field experts will receive 2985.984 EPKs each, assuming the same amount of work is done and the rewards are shared equally, which is about $716 per person per day based on the current ERC20-EPK price on Uniswap (about $0.24).
At the same time, based on the field expert’s privileges, he has the right to use the EPK of the knowledge fund to issue tasks and let the bounty hunters help themselves to the generation of the corresponding knowledge graph. According to the EpiK Economy white paper, up to 15% of the blocks will be rewarded daily to the Knowledge Fund pool, i.e., 49766.4 EPKs, which is about $12,000 per day at the current EPK price. The average person can get $1,200 per day plus $700 of the proceeds, and the average field expert can get up to $2,000 per day.
To summarize, the first 10 field experts, for example, in addition to each receiving more than $700 per day in personal rewards, will be able to get $12,000 per day to initiate tasks and improve their field knowledge graph.
As more and more miners are connected to the main network and the miner ecosystem is built, and each miner is pledged for 1,000 EPKs, the demand and value of EPKs will grow, making the field experts more profitable and well-funded.
This looks like a solid entrepreneurial endeavor, with a yearly accumulated disposable capital of nearly 5 million RMB based on 2000 USD per day (700+ USD personal income + 1200+ USD callable capital).
What do Field Experts bring to the industry?
There are two dimensions here.
First, connect your own professional field to the blockchain, organize the contents and data of your industry into knowledge, build a knowledge graph, and store it in a distributed manner through the EpiK network to build a knowledge base that can be stored for a long time. It is equivalent to the field experts building a professional library of their own industry, and the knowledge in this library can effectively be stored for a long time, and the people who have built this knowledge base (i.e., the field experts) will become the originators of the distributed knowledge base in this field.
The second step is to build the knowledge graph, which will then be connected to the AI (artificial intelligence). Some people think that blockchain technology is a distributed database, so we need to ask ourselves a question: what technology needs data the most? Need good quality, regular, useful data? The answer is artificial intelligence, and the future of EpiK’s knowledge graph dovetails with AI, perhaps one of the first projects to land in the blockchain field.
According to the current development speed and state of the blockchain, the blockchain may already stand before the door to the ground application and the future, and EpiK’s field experts are working together to push open this door, which requires joint efforts. Behind the door may be another technology tree lit by mankind — building the eternal knowledge vault of mankind and developing the cognition of AI.
It would be an honor for field experts to remember in the future that they and their “comrades” have worked together to light up a new tree of technology.
EpiK will formally recruit field experts soon, who brings soul to data and build knowledge graphs. Field experts receive considerable financial rewards and may have high industry accolades. More importantly, Field experts are already standing in front of the door to the future.