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EFFECT.AI .. DECENTRALIZED NETWORK FOR ARTIFICIAL INTELLIGENCE

2018-02-11 06:57 pm | Resource: Crypto Section | No Views : 424

EFFECT.AI .. DECENTRALIZED NETWORK FOR ARTIFICIAL INTELLIGENCE Project name: Effect.AI
Token symbol: EFX
Website: https://effect.ai/
White paper: https://effect.ai/download/effect_whitepaper.pdf
Hard cap: EUR 14.82 million for 40% of total tokens
Conversion rate: 1 EFX = EUR 0.057
Maximum market cap at ICO on a fully diluted basis: EUR 37 million
Bonus structure: 10% for first 5,200,000 tokens
Presale or white list: No presale, whitelist TBA
Blockchain platform: NEP-5 token on NEO
Countries excluded: USA, China, South Korea, Singapore

Project overview
What is the company doing?

The artificial intelligence market is growing at an increasing rate, with an expected volume of $ 15.7 trillion by early 2030. Artificial intelligence is likely to have a significant impact on human life over time between transport, trade and communications.
However, only a few companies such as Google, Facebook, and Amazon are being developed to develop these algorithms at the moment. This is because the entry barrier is very high now because of data processing, disparate tasks and computational costs.
Effect.AI proposes a decentralized special environmental system for the development of artificial intelligence and services related to intelligent science, called the network of influence, designed to provide alternative services such as the Turkish Mechanical Amazon, Viper, Green Space, and Guru.
The entire impact network will be based on the smart contracts published on the plocchin, and the goal will be to provide most, if not all, services for the artificial intelligence market to become healthy and accessible.
The network does not require commissions, and has a low barrier to entry, and is divided into three distinct stages: mechanical abandonment, smart market, and network impact, which are described in detail as follows:
  • Phase 1: Mechanical Displacement - The effect of mechanical disintegration is a private and decentralized market for work that requires human intelligence; it is based on central business models such as the Turkish mechanical amazon, Viper, space, and Guru.com. From peer to peer, and connect supply and demand more efficiently.
    Service applicants can create tasks called human intelligence tasks to be performed by workers for compensation. These tasks are described and aggregated through smart contracts on the Blockchain.

  • Stage 2: The Smart Market: The impact of the smart market will be a decentralized market where algorithms can share their services with each other. Application owners can register their products via artificial intelligence and set pricing or usage fees. These applications are available to everyone in the smart market.
    Users interested in the artificial intelligence product will have to transfer the required funds to the owner to obtain the authorization code that allows them to interact with artificial intelligence.

  • Phase 3: Impact Network: Up to Phase 3, the algorithms are still running on the central servers, the final phase of the "network" of the network of influence requires the development of these algorithms on the Blockchain, it operates on a global scale via Blockchain Neo.

How advanced is the project?

- Project Effect.AI began in the second quarter of 2016, and was implemented on a website in the second quarter of 2017, after this implementation, the idea was born to put Effect.AI on Blocchin.
- The company was formally established in the third quarter of 2017, as the first issuance of white paper, the first phase of the project officially launched in the fourth quarter.
- The full version of the first phase will be determined in the third quarter of 2018, and is currently scheduled to be launched second phase in the second quarter of 2019, and the third stage is set for the fourth quarter 2019.

What are the tokens used for and how can token value appreciate?

The EFX symbol will be launched on the blockbuster, comply with the code symbol 5, and will be the intermediary of payments between workers and applicants on the Effect.Al network.

Project goals

The first objective of artificial intelligence is to maintain the liquidity of the distinctive symbols of these products, especially during the early stages in which major stock exchanges have not listed the symbol where there are no major exchanges, and they want the following procedures to be always possible on the platform:
Workers are able to sell their rewards to get the original codes.
Students and network users are able to purchase EFX
The impact network will maintain a centralized set of liquidity-saving symbols, encourage adoption, and install network charges, and is called the Galaxy Group and consists of a combination of distinctive and original symbols.
The Galaxy complex ensures stable exchange rates for platform users, as it has a mechanism to prevent price manipulation.
As EFX tokens are used as currency on the network effect, the more activity the network has, the more valuable the tokens should be.

Project Team

  • Chris Dawe, CEO – Chris graduated from the University of Toronto in 2006 with a degree in Business Management/Marketing. Before founding Effect.AI, he was a project manager for Itsavirus, based out of the Amsterdam Area.
  • Jesse Eisses, Blockchain Lead – Jesse has previous work experience as a developer for Itsavirus and MyAdbooker, and doing research for 3DUniversum. He graduated from the University of Amsterdam with bachelor’s and master’s degree in artificial intelligence. Jesse is one of the lead developers for Effect.AI, focusing on the blockchain side.
  • Laurens Verspeek, Development Lead – Laurens previously worked as a web developer for Itsavirus, where he eventually became a lead developer. He has a bachelor’s degree in computer science from the University of Amsterdam, and a master’s in computer science from VU Amsterdam.
  • Nick Vogel, Design & Interaction Lead – Nick started his career as a media designer, working for Otwee B.V., MTV Networks, and others. He co-founded a custom jewelry story called Cococci in 2013, then worked as a media designer and lead designer for Itsavirus before becoming the design and interaction lead for Effect.AI.

Conclusion

In general, we are neutral about the company's volatility, but it is like its long-term potential. Our ideas on buying long-term flipping symbols and investment are as follows:
Neutral, the idea is great and the steel ceiling is low, however, the team will not be able to actively access the exchange to incorporate the EFX's tokens given that the EFX is the 5-symbol symbol, which is considered to be very few exchanges on existing exchanges, Liquidity at first.

Term contract

Well, the project has a lot of possibilities even with the completion of the first stage only, by eliminating the intermediary, workers can earn much more and receive payments immediately with the use of encryption, if this project succeeds, it can provide a lot of benefits in the real world that We support a lot.

For more information about the ICO, please visit the following links:

Website: https://effect.ai/
Whitepaper: https://effect.ai/download/effect_lightpaper.pdf
Blog: https://medium.com/@effectai
Telegram: https://t.me/effectai
Github: https://github.com/effectai
Interview with Effect.Ai CEO: https://www.youtube.com/watch?v=kXwDsgPdnCs

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