EFFECT.AI
WHAT IS EFFECT.AI ABOUT?
The AI market is expected to make up at least 15.7 trillion of the world’s economy by 2030 and it is also foreseen to have a massive influence on humans with time.
Effect AI proposes to create an “effect network” which is a private decentralized network for artificial intelligence development and other related services. It would work on the NEO block-chain and it is expected to operate through smart contracts. The main aim of this network is to provide alternative services to fiverr, IBM Watson, guru.com, etc.
The idea for this network was developed in 2015 and the company itself was not founded until 2017. The token sale is ongoing while the platform is said to be released fully in 2019.
HOW WOULD IT WORK?
The Effect Network is going to work in three phases:
First phase is the “Effect Mechanical Turk”, which is very similar to the amazon mechanical Turk, it is a decentralized marketplace that performs work requiring human intelligence. Tasks are completed with smart contracts, anyone can request or perform tasks on the platform.
The second phase is the “Effect Smart Market”. It is also a decentralized AI marketplace where people can buy and sell AI, machine learning, algorithms. AI service providers can trade their knowledge and products for a designated amount in form of EFX.
The third phase is the “Effect Power” that allows the algorithm on the block-chain to run globally. The Network will be based on deep-learning.
THE EFFECT.AI ROADMAP.
The Project algorithm began in Q2 2016 while the first implementation occurred in Q2 2017. After this implementation, the idea to put Effect.AI on a block chain was born. The company was officially founded in Q3 2017, the first white paper was released during this quarter too. The first phase officially began in Q4. The full release of the first phase is set for Q3 2018. Phase two is set to be released in Q2 2019. The third phase is also set for Q4 2019.
TOKEN SALE INFORMATION.
WHAT ADVANTAGES DOES IT HAVE?
It utilizes smart contracts to cut out middlemen which would definitely reduce fees.
It proposes a private and decentralized ecosystem for AI development and AI related services which is definitely a plus.
WHY SHOULD YOU CHOOSE EFFECT.AI?
Imagine a decentralized AI algorithm marketplace that allows you to earn over 200% of what you would earn using the normal amazon mechanical turk and still allow you withdraw your funds instantly without removing any percentage. A marketplace where anyone from any country would be allowed to buy and offer AI services.
With the rate of demand for AI and related services together with the low cap style of effect.ai’s investment, I strongly believe this is a good spot to invest in effect.ai.
MAJOR CONCERNS ABOUT EFFECT.AI
The development of this project looks very intensive but most of the team members are relatively young with little working experience especially in the AI and block chain fields except for the CEO with over 10 years of experience.
THE EFFECT.AI TEAM.
More information:
Website: https://www.effect.ai/
Facebook: https://www.facebook.com/effectai
Twitter: https://twitter.com/effectaix
Linkedin: https://www.linkedin.com/company/effectai/
Medium: https://medium.com/@effectai
Reddit: https://www.reddit.com/r/effectai/
Github: https://github.com/effectai