The consulting industry can trace its roots back to the late 19th century, when the world’s first modern consulting firms were founded. From the turn of the century onwards, management consulting – which early on focused mainly on engineering and finance – increasingly gained terrain in the business world, although it wasn’t until the 1930s that consulting firms started to grow their size beyond a few founding partners and small teams. In the slipstream of the growth of scientific management, operations and organizational theory, the number of consulting firms rapidly expanded in the next decades, with today’s well-known US firms such as Arthur D. Little, A.T. Kearney, Booz Allen Hamilton and McKinsey & Company playing a frontrunner role
The consulting industry started its internationalization in the early 1960s, when the large American management consultancies expanded into Europe, bringing their management models and experience to transform European organizations. Nearly four decades down the line, the consulting industry has developed into one of the most mature sectors in the professional services industry. Today’s growth in business ventures not only hints at the increased demand for consultants but also demands for the radical overhaul of the entire consultancy business model such that to harness rapid technological developments, such as Blockchain technology.
What is ConsultEth?
ConsultEth is an Ethereum-based application that aims to disrupt the consulting industry by facilitating the rise of a fully decentralized, real-time consulting marketplace where consultants and clients engage courtesy of novel decentralized technologies. It integrates Smart-Contract Technology and WebRTC (p2p video and audio call technology) to enable a decentralized real-time consulting market. Also utilizes MetaMask (Chrome/Firefox Extension) for account creation, management and signing blockchain-bound transactions. ConsultEth is inspired by the new red-hot trend in the consulting industry, whereby consultants are now more than ever opting to work as freelance consultants rather than permanent employees.
Consultancy is a highly elitist discipline which often demands that the individual present multiple certifications. Most consultants are convinced that their business model needs to change since it’s not sustainable in the long run. New technology and the emergence of smart clients consistently force consultants to innovate on new business models. Consultancy is a client-driven industry, and as clients’ needs change, the sector – and the consulting firms within it – must adapt quickly in terms of services, structure and operations. The past few years have seen significant transition, particularly in terms of technology and legislation, and management consulting firms have to respond rapidly, while maintaining their competitive edge and ensuring their own long-term growth.
Nevertheless, centralization adds complexity, diffuse accountability, and slow responsiveness. Imperatives to reduce bureaucracy, foster local entrepreneurship, respond rapidly to local customer needs, and encourage adaptiveness and agility in the face of fast-changing markets seem to favor decentralization.
ConsultEth aims to disrupt the consulting industry by facilitating the rise of a fully decentralized, real-time consulting marketplace where consultants and clients engage courtesy of novel decentralized technologies: WebRTC (Web Real Time Communication) Technology and Smart Contract and Oraclize Technology. ConsultEth is inspired by the new red-hot trend in the consulting industry, whereby consultants are now more than ever opting to work as freelance consultants rather than permanent employees. By exploiting ConsultEth Technology, entrepreneurs can easily establish digital consulting firms, with global audience, saving time and money, and a firm protected against cyber-attacks by the blockchain. The professional advisors are given the rare opportunity to serve clients beyond their physical reach, or even deploy their very own firm, and register other consultants to work under their supervision.
The clients can browse through firms listed on the ConsultEth DApp and choose an expert that suits their consultation needs, from anywhere, anytime, and have the possibility to secure smart contract escrow.
Consultants, unlike never before will enjoy the flexibility and freedom of working for decentralizeddigital consulting firms – in decentralized virtual workplaces. WebRTC is the core technology through which ConsultEth consulting sessions happen. The platform is however open to new and established consulting firms to exploit the efficiencies therein ConsultEth technology.
The ConsultEth’s native token is ConsulTX (CTX). ConsulTX tokens are compatible to all Ethereum enabled wallets including: MetaMask, Ethereum Wallet, Jaxx Wallet, Parity & MyEtherWallet. The tokens behave as any standard ERC20 token. Interested stake holders participate in the crowd sale by sending Ether to the Pre-ICO address: 0xad68d68214e0efefed98a3fe678f2ee7f8100ded. The number of tokens on sale is 30,000,000 CTX.
If they are to remain competitive in the future, consulting firms will need to find innovative ways of retaining clients and solving their increasingly complex business problems, while diversifying their own product offerings and attracting the consultants of tomorrow. The ConsultEth Foundation is delivering the Dapp (Decentralized Application), a tool through which anyone can monetize their self-earned expertise thereby satisfying the ever increasing demand for consultants – irrespective of their current certification. For further information about this project you can access their http://www.consulteth.comwebsite , and read the White Paper.