But first, lets look at some of the challenges in the data economy that hinders the growth of better algorithms required to operate a system :
Widening data gap between business’ that have data and those that don’t
Unauthentic and fake data rendering proper algorithms to be useless
Unfair revenue distribution for original data producers, this is critical as there is no incentives for Data Producers to provide constant volume of authentic data
So, pretty crappy for the modern day entrepreneur in the ever competitive global setting right?
Hang on, in comes Protocol of the hour in a red cape and a bulging…nevermind…
How Quadrant is about to change the game
Quadrant helps to overcome these problems by enabling the access, creation, and distribution of data products with authentication and provenance with the aid of their blockchain-based protocol.
It provides the infrastructure for the exchanges of services between data providers and data purchasers based on smart contracts AND with the facility of tracing the accuracy of this data — basically data buyers can trace and find proof of who created the data.
The system ensures that data producers are compensated every time the data that they provide is used, no matter how far up the tree the data is brought. This incentivizes the mass production of data which are termed as Constellations and are put on a Data Smart Contract for anyone or any business that is interested in purchasing accurate and reliable data.
More Cool Stuff About Quadrant
The Protocol identifies certain stakeholders to make it complete (and perfect, by our account, also keep up with the cool intergalactic terminologies that would put Star Wars to shame):
Business Use Case:
Nurseries: Atomic Data Producers (ADP) that create the original data records ; basically raw data , known as STARS that clustered together is known as Constellations
Pioneers: Data Vendors that create data products on smart contracts
Elons (This is the mind-boggling bit): Elons have the ability to find linkages between constellations to create a “Mega-constellation”. They can then be used by data consumers to innovate and solve real-world problems.
Data Stamping Protocol : Nurseries & Pioneers can input the data by stamping it into the Quadrant
Open Constellation : Constellation (mass production of data) can be created by suppliers and consumers of data — allowing nesting for revenue share.
Guardians: Master Nodes. Period. Just Kidding. The Master Nodes protect the integrity of the chain ensuring that it is not compromised and provide the trustless nature of stamping , authenticating and verifying data.
So who’s trying to eat Quadrants cake?
Ocean Protocol and Streamr come to mind. The former picking up in reputation and hype; whilst Streamr hit Binance earlier today (9th June) .
Both , however , don’t entirely prove a challenge to the completeness of what Quadrant offers; end to end , pragmatic , enterprising , sexy data exchange in an environment that provides and offers constant data supply and demand.
BUT. Check out what our analyst picked up (thats me too by the way) as at 9th June:
Streamr ICO raised USD27M for 1Bn tokens or $0.062 per token, is currently at USD73M in market cap, trading at $0.10 per token (High of $0.36 in Jan ’18)
Ocean Protocol is attempting to raise USD22M for 1.4Bn token or $0.25 per token.
Quadrant Protocol is raising USD20M for 1Bn tokens or $0.05 per token
Did the math? So did we. So Quadrant does More and is Cheaper ???*
*Cue that mind-numbing Moon Lambo clip by that unfortunately famous dude.
So Dude, What Do the Tokens Do?
There will be two different token models operating under the Quadrant Network, eQuad and QUAD.
eQuad is the ERC-20 token which would be sold by Quadrant and may be used to convert to QUAD via a gateway after the mainnet is launched.
QUAD plays a major role in the Quadrant ecosystem and is designed only to be used on the network itself. QUAD tokens are non-refundable.
The gateway conversion of eQuad:QUAD is 1:1. Further channels of acquisition for QUAD is yet to be announced.
QUAD use cases:
- Secure mode of payment between participants
- Fuel for using certain functions on the Quadrant network
- Submitting stamps to the network require the use of QUAD
- Execution of Constellations
- Purchasing data
Elons will stake QUAD for access to data-sets
- Guardian nodes will receive payment as incentive to verify transactions and submit proof to the network. They also receive payment from the building of constellations
- Data Vendors acquire QUAD as payment from data consumers and Data providers will receive remuneration every time their data is used.
Who’s in that A-Team then?
The team behind Quadrant Protocol is the same team behind DataStreamX (DSX), an online marketplace for real-time data.
DSX has been around for 4 years and are trusted by big corporations and universities like DataSpark, Nanyang Technological University Singapore and National University of Singapore (rated 15th University in the world by QS Global World Ranking).
Basically the team has got experience in the space and aren’t the noobs half these ICO teams turn out to be (I’m probably not going to get alot of writing jobs after this)
Mike Davie, CEO and Founder
He is the founder and CEO of DSX as well and his experience there, led him to search for a solution for the problems in data economy. Cue Quadrant Protocol.
Other past experiences include Samsung where he developed business models for future smartphone devices and market entrance into new markets in SE Asia and the Middle East.
Barkha Jasani, Director of Engineering
She held the same title in DSX and has over 9 years of experience as an effective full stack platform engineer; also has experience in building dApps and is an experienced blockchain researcher & architect of Decentralised Ethereum blockchain solution.
Sharique Azam, Big Data and Blockchain Engineer
Also part of DSX and in his time there was building and deploying a variety of SDKs and APIs so that clients are able to consume data more efficiently, integrating IBM Watson’s trade-off Analytics to get data visualisation, and other cool stuff.
Any Rockstars on their Advisory Panel?
Notable advisors include (keep that pants on, boi):
- Pavel Bains, CEO Bluzelle . (We bet this is the only name you know)
- Dorjee Sun, COO Santiment
- Benedict Chan, CTO BitGo
Tell Me More, Baby
Quadrant Protocol has multiple partnerships and is receiving support from big investment companies that include:
- Draper Venture Network . Needs no introduction , if you do, you haven’t been in enough ICOs.
- Amazix . Yes, the ones you see everywhere in Telegram.
- Chainrock . Portfolion includes Achain, ICON, FANTOM, and others.
Bluzelle . Recent successful ICO for data and storage management. Its current market cap as of the writing of this article is just under 80 million USD.
Influencers putting in a good word:
Oh Hey Matty & Diddy Carter
Telegram: Close to 14,000 members ; Twitter: Over 4,000 followers
*as at time of article
Are We Excited? F*ck Yeah ! The hype is dragging us past the Moon and on to Jupiter
Kenetic Capital just came onboard — Mic Drop beat right there. Kenetic is a major blockchain-focused investment, advisory and technology firm that has a portfolio including , Wait for it,
- Hard Cap: USD 20M
- Total Supply: 1,000,000,000
- Token Type: ERC-20 Token
- Token AFS: 40%
- Token Price: 0.05 USD = 1 eQUAD
If the contributions received amount to a total of more than 7 million USD, than the token will be distributed as so:
Investors will receive 40% of their tokens upon the close of the eQUAD token sale
The other 60% will be distributed over the course of 4 years, with 15% being released annually
Unsold tokens (Yeah, right) will be locked-up and held in a reserve. Another token sale for these unsold tokens will then be held not earlier than 2 years after the current token sale.
What’s Lit?Quadrant aims to solve big problems inside the data community, from connecting demand and supply, ensuring authentication and deriving insight — we’re looking at a game changer in the making for all type of retail markets. The hype is off the chart as well with the Whitelist for 8000 people closing within 30 minutes; and endorsements from established capital funds, advisors level 9999 and a push by influencers just for good FOMO measures. What’s Not? For You? The Whitelist is over. But for us, we’re still looking for one. One area that still isn’t entirely clear as of yet is knowing how the team will be pushing for product adoption once its ready. But to be fair, its baby steps and with the alliances they have, we’re confident that the magic will happen and in due course we’re looking at one of the biggest game changers in the data space.