The data economy is facing with four major problems. The first is existing awidening AI data gap between the haves and have-nots. The second is that ubiquitous fake and unauthentic data is destroying the usefulness of any algorithm. Moreover, unsustainable data feeds breaking production systems when they go offline. And besides, distribution for the original data producers has unfair revenue.
I am going to introduce you a project dealing with four above problems called Quadrant. Quadrant is a blockchain-based protocol that enables the access, creation, and distribution of data products and services with authenticity and provenance at its core. As description, the data economy is similar to space; unmapped and chaotic. So Quadrant serves as the blueprint that provides an organized system for the utilization of decentralized data.
Quadrant aims to build the data economy around the silos that large data-hoarding companies like Google and Facebook create, which in turn will diminish their power. Quadrant also aims to address the issues with non-transparency in the data industry, which can lead to a lot of fraud, when companies are hiding their sources. With transparency promoted within Quadrant, companies will be able to trace the data sources for compliance purposes, as well as ensure that they get the data they paid for and that it is what they want for their application. Quadrant also ensures that all of the data providers within the value chain receive proper and fair compensation, as the original creators, also known as the nurseries, are often left out when it comes to the profits generated by the data they provide to collectors and companies.
Quadrant will operate on a Proof of Authority consensus mechanism to handle more transactions, operate at a lower gas price, achieve faster transactions, and restrict malicious nodes from entering data. An external Proof of Work chain will be used as an anchor for security purposes. Quadrant will have the following initial features and services: Data Stamping Protocol, Stamp Verification, Open Constellations, Network Nodes and Clients, Data Enhancement by Elons and Public Chain Anchors.
Data stamping is designed to provide data authenticity from the data source to the data consumer, which acts as the fundamental layer of trust in the network. By putting a data signature on the block, the Quadrant Protocol will be able to track the movements of the data and understand where there have been manipulations. This is set up to ensure data authenticity and help track provenance for compliance applications.
The team provides the following project roadmap.
The testnet was already available at the time of review, having been released on May 14th, so the risk for potential investors is reduced when compared to projects without an MVP before/during their ICO.
The disadvantage of this roadmap is that it only covers the technical aspects of the project and does not lay out the business development process – e.g. when and how marketing activities will be performed, how many users the platform the company intends to reach by the end of 2019 and in Q1 2020, etc.
The Quadrant Team
Mike Davie - Founder and CEO of DataStreamX, Founder of Quadrant A technologist at heart, Mike has made significant contributions in the fields of communication technology and data science, having worked with some of the major players in the industry. His experiences borne out of DataStreamX lead him to searching for a solution, and ultimately creating it with Quadrant Protocol.
Barkha Jasani - Director of Engineering. With over 8 years of experience in software development, Barkha leads the end-to-end development of the platform. Currently she is focused on architecting our decentralized solution and the core development of our blockchain ecosystem.
Sharique Azam - Big Data & Blockchain Engineer. A big data expert, Sharique has mastered the various processes, methods, and technologies involved in the collection, transformation, and management of data. Sharique now is leading the core development of our private blockchain and distributed applications.
Navas Khan - Head of Marketing. Navas handles Quadrant Protocol's marketing and communications aspects. His insights into the overall data space enables him to contribute to the expansion and adoption of Quadrant.
The Quadrant team has established a group of commercial partners and allies, including but not limited to Bluezell and Kenetic Capital, which gives them a strong position.
Quadrant has the following partners: AmaZix, bluzelle, Chainrock, Wavemaker, Kenetic, etc.
AmaZix, world’s leading community management and engagement firm, also moderate official Telegram channel of the project, they have managed some of the largest ICOs in history including Bancor, BANKEX and Hdac, etc.
Bluzelle is a decentralized, on-demand, scalable database for dApps. he team has already built trusted blockchain tech for enterprise-level businesses including Microsoft, HSBC, AIA & KPMG.
Chainrock - global advisory and investment firm focused on digital assets and emerging blockchain technology.
Wavemaker - crossborder early stage VC firm, dual headquartered in LA/Singapore, focused on seed stage technology startup opportunities.
Kenetic is a blockchain firm with diverse & robust range of projects and investments, committed to expanding the development and adoption of blockchain platforms through investments, advisory services, community, and technology. Kenetic has a world-class team and network of partners and advisors across their platform of services.
Draper venture network - self-governed organization of independent venture funds that cooperate on investment diligence, marketing intelligence, corporate relationships, and co-investments.
Openspace ventures makes investments in early-stage technology companies based in Southeast Asia.
The project has the following strengths which are worth noting:
The first is development risks. The team has quite ambitious plans but the length of time between the different stages and milestones could be a possible issue. The length of time between MVP release (which is a significant stage of the project) and other stages is very short. The application, adoption and beta-testing/performance improvement of a product for enterprise use all require significant time and effort from the team.
The second is Incomprehensive whitepaper. The whitepaper does not include competitor analysis (although there are no direct competitors discovered), forecasts of marketing activities or plans for product promotion.
Besides, the team has ambitious plans in terms of product complexity. But apart from the founder, the other team members might not have enough experience, as they are all relatively young and most of their job experience comes from working with this founder on another project.
QUAD is a utility token designed to be used solely on the network. It will be used to stamp data, support simple and complex access structures, simple and complex subscription payments, and for staking by Elons. eQuad is an ERC-20-compliant token that will be sold during the Token Generation Event (TGE). It may be converted into QUAD via a gateway once the Quadrant mainnet is launched.
The supply of ERC-20 tokens is fixed at 1,000,000,000 tokens. Any unsold tokens 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.
In the Blockchain space, Ocean Protocol is Quadrant’s biggest competitor. There are fundamental differences both in the structure of the company and approach to the data economy. Ocean creates a protocol for data marketplaces. They have a new consensus method and tackle issues that over the last 4 years operating a data marketplace, Quadrant doesn’t see as an issue. Because Quadrant offers more features and has already released a testnet, we believe that it is more likely than not that the Quadrant project has a great opportunity for future growth.
Based on the analysis performed and issues identified I have assigned the Quadrant Protocol project a “Positive” rating. But it's better for you to consider the project carefully before deciding to invest. The following links may be useful for you. Thank you for your reading!
More Information:
Website: https://www.quadrantprotocol.com/
Whitepaper: https://www.quadrantprotocol.com/whitepaper.pdf
Twitter: https://twitter.com/explorequadrant
Medium: https://medium.com/quadrantprotocol
Linkedin: https://www.linkedin.com/company/quadrantprotocol/
Telegram: https://t.me/quadrantprotocol
Author: Tranvucx
BCT: https://bitcointalk.org/index.php?action=profile;u=1362542
