The sands of time have always proven to shift their arcs according to the developmental air. Time has stood inclined with evolution ever since the birth of mankind, based on which humans have progressed far from where they started. To put it in terms of business growth and technological evolution, back then oil was the primary asset that, moved countries to create history of war and peace. Mankind has always attempted to raise infrastructures and walls with technology to protect and monetize such assets. In May 2017, the economist claimed that "data is the new oil", clearly it has consequently led to the ownership conflict of who should own the data or who is allowed to benefit from it. Tech giants like Facebook, Twitter, and LinkedIn etc survive on such personalized data that atomizes their whole organizational and business structure. Today's world is progressing so fast with millions and trillions of data generated every second .It is not only hard to manage but has created a universe of its own. These silos of data need a clear set of management and stringent protocols that provide benefits and privacy to the contributors with a clean way of advantage to the consumers who use it, which is why today we are going to talk about Quadrant Protocol- a blue print for mapping decentralized data and de- silo these volumes of virtual treasures.
What problem is addressed by Quadrant Protocol?
Quadrant Protocol is a Singaporean ICO, started 4 years go by the DatastreamX founder and CEO Mike Daive. Companies today, struggle to create AI innovations and Machine learning tools because they lack access to volumes of data, specifically authentic data needed to power the AI algorithms. There has been an ever widening gap between parties with resources that collect and store their own data and parties that do not. With such an enormous pool of data being created around, the authenticity of the same is unclear. Quadrant believes that this particular gap has been created as the suppliers are not fairly incentivized and fair revenue distribution scheme for both, data producers and vendors does not exist. This is leading to an unhealthy economy in the world of big data and authenticity needs to be met, immediately.
A real world solution to a real world problem:
Quadrant offers a blueprint for mapping, fundamentally heterogeneous data sources. It is providing an ecosystem of "proof of data authenticity" and "provenance" through data stamping. Data stamping is referred to the creation of a constellation -- smart contracts that execute these disparate data sources to facilitate fair remuneration and incentive sharing. There are two primary participating benefactors the "Nurseries"- data producers and "Pioneers" - data vendors, play a major role in the Quadrant ecosystem. They are fairly compensated when their data is used every time and are incentivized to create innovative constellations, ensuring a channel of authentic data for the companies.
Quadrant "Pioneers" map different data into discrete data sets and then "Elons" (the brightest data minds) find linkage and map these data sets into a more logical or vertical set in a broader sense to power the AI algorithms or solve real world problems. This factor is where Quadrant distinguishes itself from its other competitors. It is designed to work on both decentralized and centralized services. This uniqueness, allows Quadrant to operate at a lower gas price and achieve faster transactions. The ecosystem, allows only the enrolled users to use and contribute data which restricts the malicious nodes from entering data into the network. It provides core quadrant blockchain functionality and unlike its other competitors, it is not the same as gaining ownership of the data through marketplace but through a concrete set of rules and consensus mechanism.
Review on the team:
Quadrant Protocol, currently has a team of 10 members who are also related to DatastreamX, Founded by the same CEO and also works on the same concept of data monetization without blockchain. Quadrant has partnered with up big blockchain firms like Kenetic Capitol and Bluzelle. Interestingly, IMDA (Singaporean government) has also backed up this project. On the other hand, quadrant has an impressive team of advisors like Pavel Bains (Founder and CEO, Bluzelle) and Benedict Chan (CTO, BitGo). The team has received an overall rating of 4.3 on TrackICO and an ICO score 6.4 on Foundico.
Token and ICO details:
Quadrant utilizes two different currencies for its network: eQuad and QUAD. QUAD is a token meant to be utilized on the network while eQuad is an ERC-20 biddable token meant to be sold during the Token Generation event (whose reason is not specified clearly).Price of 1eQuad (ETH) is 0.05USD. The hardcap is set on 20 million USD and soft cap is set on 30 million USD. Token is distributed as ; 40% Crowd sale, 20% held by the company, 20% stakeholders, 10% reserve and 10% to the team. The company still seems to be running a private sale with no information about the Public sale yet.
Our Review:
Quadrant has congregated, great partnerships over the year with a quiet sustainable solution and a revenue model on the blockchain platform. It certainly seems to have an impressive and achievable road map. Although, the company seems to be sure of what it is doing or how it will execute its solution towards the real world problems, the clear side of the high upside seems shaded for now, there is not enough information to summarize on it.
Website - https://www.quadrantprotocol.com/
Whitepaper - https://www.quadrantprotocol.com/whitepaper.pdf
ANN - https://bitcointalk.org/index.php?topic=3676988.0
Telegram - https://t.me/quadrantprotocol
Published by - icomantra
Profile - https://bitcointalk.org/index.php?action=profile;u=2152283