Recently, in an event, Mukesh Ambani, one of the world's richest persons and a successful entrepreneur, made a statement. He said, "Data is the new oil."
Truly, that's how valuable data is in today's world.
If you look at any of the tech giants, be it Google, Twitter, Facebook or any other company for that matter, the main source of their revenue is ads.
Now you must be wondering what do ads have to do with our data?
The truth is, it has a lot to do.
Imagine, I am searching for a trimmer on Google. In a few seconds, a pop-up comes up in my browser showing me the prices of various trimmers from different eCommerce sites.
So how did they know that I am looking for a trimmer?
The answer is, Google's algorithms understood that I was searching for that, and based on that, it started showing me the relevant ads.
That's how the data economy works in a nutshell.
But the data industry currently is absolutely biased towards the ones who use it and not the ones who produce it.
No rewards are received by the producers, and more often than not, our data is used illegitimately without our permission.
This needed to change.
Introducing Quadrant Protocol, a new protocol that revolutionizes the data industry and restores the missing balance in it.
What is Quadrant Protocol?
Quadrant Protocol is a blockchain based data protocol that enables access to, the creation of, and distribution of data products and services. It acts as a centralized system for all the decentralized data in today's world.
Quadrant Protocol it maps disparate data sources so that new products can be easily created to solve the various challenges of today's world.
Quadrant Protocol will ensure that all data is publicly stamped so that their origin can be easily tracked if need be. This ensures that the foundation of the data economy is built on trust.
The disparate data sources will be created in a way that they can be easily used by all the stakeholders in the industry to create new products.
The incentive distribution of the data industry thus far was very unbalanced. But with Quadrant Protocol, this will change for once and all. The data consumers will know how much each data producer has contributed.
All these features will ensure that the data industry will undergo a sea change, thus restoring the lost balance and trust of people!
How does it work?
Imagine, you write a book. You send the manuscript to some of your trusted friends, asking them to review it. Now, your work was exceptional, and probably you could have earned a lot of fame and money for this work of yours.
But then, a friend breaks your trust and publishes it under his name. And he earns all the fame and a lot of money, which you were supposed to receive.
How would you feel? Cheated, in a single word.
This is exactly what most companies selling our data does - selling our data without our permission, and generating huge profits, while we get nothing.
This needed to change, and thanks to Quadrant Protocol, this has changed. Now, data producers will be rewarded fairly for all the data they produce.
This will restore the lost balance, and ensure the progress of the data industry as a whole.
About ICO
Quadrant Protocol will utilize 2 tokens for the smooth functioning of the platform :
- QUAD tokens, a non-refundable functional utility token used as a unit of exchange between different participants on the network.
- eQuad tokens, which will be sold. These can be converted into QUAD tokens as well.
The total number of eQuad tokens that will be generated is 1,000,000,000 eQuad.
The exact dates of the public sale are yet to be announced.
The project is currently priced at 1 eQuad = $0.05, accepting ETH.
The project is hard capped at ETH equivalent of $20 million.
Verdict
The data industry has been crippled by many challenges for a long time, despite data being one of the most important things in today's world.
Stealing of data, unfair payment methods, biases towards the data producers are some of them. But some organization had to step up and put an end to these. Quadrant Protocol decided to lead the change.
Quadrant Protocol's unique features will show the origin of all the data. The data consumers will know how much data is produced by each data consumer, and will accordingly reward them, thus restoring the balance.
On top of these, the companies who are willing to innovate will get high quality, easy to access data from them, making their path more smooth.
Clearly, Quadrant Protocol does away with a lot of biases and disadvantages of the industry, giving it a totally new face and more balance.
For more details visit: https://www.quadrantprotocol.com/
Telegram: https://t.me/quadrantprotocol
ANN Thread: https://bitcointalk.org/index.php?topic=3676988.0
Author: yalsik.s
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