While the tech savvy and attentive venture capitalists have long since discovered the cryptocurrency market, there still are a lot of institutional and retail investors that have yet to enter the market. We see governments, banks, and corporations implementing block chain pilot projects, while independent users and investors are actively entering the crypto currency market. Vast amounts of authentic data are needed to power today’s algorithms, however the current
data economy is fraught with problems, Quadrant has finally come to stay to solve these problems to solve these problems by providing a blueprint for mapping disparate data sources, support proof of data authenticity and provenance via data stamping, creation of “Constellations” (data smart contracts) for disparate data sources, and fair remuneration and incentive sharing.
The Quadrant Network will utilise two different currencies for its protocol: eQuad and QUAD. The native digital cryptographically-secured utility token of the Quadrant Network (QUAD) is is a major component of the ecosystem on the Quadrant Network, and is designed to be used solely on the network. The eQuad and QUAD tokens are designed to complement each other to keep the network running.
QUAD is an integral and indispensable part of the Quadrant network, because without QUAD, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on the Quadrant network.
QUAD is a non-refundable functional utility token which will be used as the unit of exchange between participants on the Quadrant network. The goal of introducing QUAD is to provide a convenient and secure mode of payment and settlement between participants who interact within the Quadrant network. Further, QUAD is required as virtual crypto “fuel” for using certain designed functions on the Quadrant network, providing the economic incentives which will be consumed to encourage participants to contribute and maintain Quadrant. Users of Quadrant and/or holders of QUAD which did not actively participate will not receive any QUAD incentives. QUAD may only be utilised on the Quadrant network, and ownership of QUAD carries no rights, express or implied, other than the right to use QUAD as a means to enable usage of and interaction with Quadrant.
eQuad is an ERC-20 standard compliant placeholder digital tokens on the Ethereum blockchain which would be sold, and which may be converted into QUAD via a gateway when the Quadrant Network main net is eventually launched
Quadrant is intended to have the following features that are aimed at helping to solve the problems in the data economy:
•Proof of Data Authenticity and Provenance
•Constellations for Disparate Data Sources
•Fair Remuneration and Incentive Sharing
PROOF OF DATA AUTHENTICITY AND PROVENANCE
The foundations of the data economy must be built on trust. Blockchain is the perfect candidate to facilitate this trust because it offers an immutable record of historical activity. Quadrant will require that all data is publicly stamped so that its origin will always be known. Any stakeholder can learn the provenance of a data feed at any time.
CONSTELLATIONS FOR DISPARATE DATA SOURCES
Constellations are envisioned to be the key to bringing together disparate data sources in such a way that they can be used by Pioneers, Elons and other Data Consumers to compete with big firms. Constellations are intended to level the playing field so that everyone has access to the data that they need when they need it, which is projected to inspire a new generation of data scientists to discover revolutionary insights; enable new businesses to form; allow people to build upon data from others instead of recreating the same; give smart people a chance to receive remuneration through combining data sets into valuable data products
FAIR REMUNERATION INCENTIVES SHARING
Potentially, Pioneers will no longer have to worry about the manual process of figuring out how much incentive each Nursery deserves when an aggregated data product is sold on the Quadrant network. Through the Constellations of the Quadrant protocol, Pioneers will know exactly which Nurseries contributed what and how much each deserves.
HOW QUADRANT OPERATE
Quadrant provides the infrastructure that facilitates the exchange of DaaS and AI services between organizations. It enables data vendors to sell their data with the use of data smart contracts. Likewise, it enables buyers to purchase data and trace its authenticity and provenance through the network’s data stamping verification system. In turn, this enables DaaS and AI service firms to build new products and services on top of the infrastructure and network.
PROBLEMS IN THE DATA ECONOMY
- AI Data Gap
Small companies struggle to create AI innovations because they lack access to the volumes of data their algorithms need.
- Unauthentic Data
The data small companies do have access to produces poor algorithm results due to its questionable authenticity
- Unsustainable Ecosystem
Data Producers lack the incentives to provide the volumes of authentic data required because they only get compensated for the initial sale .
- Revenue Generation
Unfair revenue distribution for the original data producers
The main participants in Quadrant are the Nurseries, Constellations, Pioneers, Elons, and Guardians.
Nurseries; the atomic data providers that create the original data records. They create stars, which can then be grouped into constellations.
Constellations; the smart contracts that map multiple data sources into a single data product. These data products are then transacted between parties.
Pioneers; the entities that create data products with Quadrant’s smart contracts.
Elons: the entities that utilize the created data products and with them, build new and unique products and services. They rely on constellations and constellation blueprints to make sense of the data space, which they will travel through.
Guardians: the master nodes that protect the integrity of the chain, ensuring that it is not compromised. The Guardians ensure that the constellations created by the Pioneers are not compromised and provide the services of stamping data into the system.
TYPES OF PARTNERS
There are many areas where Quadrant can partner, both technical or commercial. We seek technical partners for storage and processing (computation). As well as seek commercial partners for the following areas:
· Data vendors
· AI Service companies
· APP / SDK Developers
· DaaS firms
· University / Innovation Labs
TOKEN SALES OVERVIEW
The 1,000,000,000 eQuad tokens will be distributed as follows:
Pool A– Crowd-sale
40% will be allocated for sale (Private Sale and Public Sale phases). Unsold eQuad will be held in a reserve for a future token sale to be held no sooner than 2 years after the close of the Public Sale.
Pool B— Company
20% will be held by the Company as reserves.
Pool C— Company Operations
20% will be allocated towards advisory, security and operational purposes.
Pool D— Company Reserve
10% will be allocated towards partner and community development to incentive participation (these will be locked initially and made transferable monthly with annual rates of 40%, 30%, 15%, 10% and 5%).
Pool E— Team
10% will be allocated to the Quadrant Protocol team (these will be locked initially and made transferable monthly over 5 years).To the extent a secondary market or exchange for trading eQuad does develop, it would be run and operated wholly independently of the Company, the Distributor, the sale of eQuad and the Quadrant Network. Neither the Company nor the Distributor will create such secondary markets nor will either entity act as an exchange for eQuad
ALLOCATION OF CONTRIBUTION
The Token Generation Event (TGE) will have a hard cap of $20,000,000 USD. If the TGE raises over $7,000,000 USD, the contributions garnered will be locked initially and made transferrable over the course of 4 years, with 40% becoming available upon the close of the eQuad token sale and the remaining 60% released annually to be applied towards the Company’s objects at a fixed rate of 15%. This is intended to ensure the long-term success of Quadrant while instilling practicality to ensure no over-spending in the initial years
Details of the allocation are as follows:
30% will be allocated for the building of the network, building SDKs for different applications (including mobile and IoT), creating front-end interfaces for the creation of Constellations, creating a portal interface for purchasing data products and creating clients for accessing and reading the chain.
BUSINESS AND NETWORK DEVELOPMENT 35% will be allocated for creating programs to encourage high-quality data being brought to the network. This includes a special program for the development of Elons. Based on the years of experience that the Quadrant Protocol team possesses, it will prioritize filling the missing data gaps in the market. The Quadrant Protocol team will also foster innovative usage cases and solutions based on the data available in the network. This is intended to help more sellers in bringing high-quality data to the network.
OPERATIONS AND SECURITY
25% will be allocated for daily operations, running of nodes, network security and the security of Constellations on the network.
LEGAL, ACCOUNTING AND COMPLIANCE
5% will be allocated for ensuring that frameworks are in place for data licensing and that all accounting and compliance is done correctly.
TREASURY 5% will be allocated to ensure the smooth running of the system and that no one is shut out and cannot use the services due to unavailability of tokens
THE AMAZING TEAM
For more information, please visit:
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=3739014.0
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1925064