Skynet is a massive blockchain project encircling the development of a fourth generation blockchain along with its own hardware chip. The key goal of the project is to reach mass scale utility of its development and then leverage the data reach to support deep machine learning for the foundation of the IoT applications that can power the smart economy of tomorrow.

Read on to learn about this project’s strengths.

Skynet SWOT Analysis

SWOT analysis sheds light on the potential of a project.

Blockchain technology is still in a nascent stage and this has attracted the attention of many entrepreneurs to target the development of infrastructures for the future of blockchain developments.

Skynet has a valuable competitive edge as its initial competition is inexistent given that it’s aiming for adoption of its hardware chip. As this is the first blockchain chip, there will be organic interest from the growing blockchain community. Many initial developments in the blockchain space have seen strong interest and Skynet can benefit from this trend.

Though, the paramount strength of this project is that once its chips are integrated into devices, Skynet can seamlessly make people prepared for easy usage of its services. The chip will provide people with the initial set of tools and features needed to handle the full strain of Skynet’s developments.

This can allow Skynet to pursue its goal of delivering a platform that can garner data for rapid AI advancement. Preparing the market for advanced technology is an operational problem that holds back other infrastructural problems, but Skynet’s strength is that as it furthers its technological development, its operations simultaneously fall in place as it can use the chips to prepare IoT devices across the world for the new features of the Skynet Open Network.

While blockchain technology is still in its nascent stage, ICOs have enabled thousands of teams to pursue various projects.

Even on a B2B scale, there are many projects seeking to attract attention to their development. Thus, Skynet may have to divert a portion of its funds to strong promotional campaigns. This can be a tough pill for most early developments as they are typically on a tight budget.

However, it’s important to note that Skynet can easily differentiate itself in its campaigns as its inherently different from any current blockchain project; once the initial phase of promotions are out, Skynet may be able to attract good additional reach merely through organic interest growth through people’s desire to talk about developments that core on absolute novelty.

Artificial intelligence, IoT, and blockchain are the three technologies of tomorrow and Skynet twines both of them into a single development.

Skynet aims to leverage blockchain technologies to incentivize interactions that organize data such that machine learning can take at a more efficient pace. This pace in AI development can then enable the development of advanced IoT projects that can be automated via smart contracts. Data will enable the development of algorithms for improved artificial intelligence which will power complex smart contracts that can allow devices across the world to provide greater automation.

Skynet’s goal is to combine these three technologies in a manner that they function with impeccable cohesiveness by complimenting one another. The world can have harvest tremendous amount of benefits through a network that can enable a truly smart economy powered by AI.

Skynet’s long-term development is extremely ambitious—maybe too ambitious. Skynet Open Network focuses on a number of technologies that require immense research and development. This may cause the project to run its resources a little too thin. However, such a large-scale development could be sustainable if enough funds are raised.

Wrap-Up: Skynet is developing a project with immense potential as it intends to leverage some of the greatest technologies of today in a single network. Given that it faces limited competition in terms of penetrating a blockchain chip, Skynet should be able to thwart the challenges that comes its way.