No one in the world would love to operate systems through inaccurate data. Accuracy is the basis of every success, letus take an example, whenever we plan to construct a building, stress is given on the layout and base of the building and the design and strength will wholly depend on the accuracy of the base and layout if there remains any problem in the accuracy of the base that will prove disastrous. Same is the case with the accuracy of the data, if we have accurate data that will be fruitful and vice versa.
A preventive solution is their in the form of Quadrant where authentic data can be shared and used to solve some of our problems which we are facing every day.
The need for data is growing exponentially, if I am not wrong the demand for data is more than that of oil and gold, there is need of both raw and refined data. The demand of the later is however more than that of former. As the data must be accurate as the wrong data can lead to wrong choices made by the customers and that will directly lead to loss of revenue.
To tackle the problem Quadrant has come up with a solution for mapping decentralized data. The Quadrant platform keeps in view all the stakeholders providing them the desired and authentic resources.
Current market limitations
Every company needs data to refine their products and services, no matter how small or how big the company may be. It is easy for the larger companies to obtain the data as compared to the smaller companies. Small companies have to spend hefty amount of money which is not possible for them all the time. In search of accurate and authentic data the companies go through some obstacles like:
High data costs especially for smaller companies
At times wrong data is provided by the data vendors, some vendors are there just for the financial purpose and not not provide good service.
We can say the data producers and the companies suffer from the losses and the vendors are always in profit. The data producers observe pain when they are not given the fruits for their hardwork. Data vendors get raw data from producers at meager prices and sell the same to a number of clients at higher prices make huge amount of money in the process. It is a sheer injustice as the data producer should have been paid in the same manner as the data vendor instead he is paid just once though their data is used multiple times once it is out of their hands.
Quadrant with the solution
The work in transparency and security based on the blockchain technology is going to be applied by the Qaudrant team to solve the data quagmire plaguing the growth of various companies.
Quadrant platform will be based on three parties which are the data producers or (nurseries), data vendors (pioneers) and Elon.
Quadrant is committed to bring up some great changes in the marketspace. Some of them are discussed here:
proof of origin and authenticity of data.
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To stop the leakage of wrong data in its platform the data produced at the primary level or we can say the raw data will be stamped publically to give the data source a history. And same mechanism will be applied on the pioneers or we can say the data data vendors, they must have to give the proof of source to those who are interested in purchasing the data.
Incentives and remuneration
All the stakeholders of the data should be treated with same justice and Qaudrant follows that. The Qaudrant platform advocates for the fair sharing of the revenue generated within the platform depending upon the amount of work done by each member. All the stakeholders will receive their share whenever their shared data is used within the platform.
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Moreover Quadrant platform is fuelled with its own digital currency and the stakeholders will be remunerated with the same, known as Quad tokens.
Frankely speaking I really don't have seen a similar project to compare with Quadrant blockchain project. Their data refining for the public and proof of data authenticity will be the killer blow in the market.
To know more about this amazing project, do visit the following links: