The OpenExO community,Salim Ismail’s blockchain-related venture, has 2,291 exponential growth specialists across 101 countries. These innovators help clients leverage emerging technologies and exponential attributes to emulate the world’s fastest-growing companies.
OpenExO is like the sharing economy; it operates in a massive global cooperative to achieve a common goal and transform the world for a better future. Open ExO leverages their community of on-demand specialists to help companies prosper around the globe; however, ExO does not directly employ these specialists. Instead, OpenExO helps clients connect to specialists within the ExO community and economy.
For example, someone in Medellín working on a drone project might need a drone guru who might be in Switzerland. However, sending a payment from Columbia to Switzerland can be a nightmare when it comes to transaction fees and settlement time.
That is why the ExO team decided to implement a stand-alone public blockchain and its own cryptographic token, EXOS. EXOS are a tool that helps facilitate the exchange of services throughout the network and reduce friction–especially when it comes to cross-border payments. As a Proof-of-Stake blockchain, the community members actually run the blockchain economy’s infrastructure on behalf of the network.
Back to the example above, when the individual in Medellín goes to contract the individual in Switzerland for their drone project, The EXOS token allows the individual in Medellín to retain the drone expert directly with tokens. This eliminates the need for a financial intermediary and the expensive fees that are known to come with that service. The ExO Economy also allows these individuals to easily find each other and contract for their services as well as operate freely with very little transactional and cross-border friction.
By using the EXOS blockchain to reduce friction in payments—especially when it comes to cross-border transactions and cross-border talent acquisition—the ExO economy allows individuals globally to connect and catalyze exponential growth in their organizations.