INTRODUCTION
Internet of Things (IoT) data has become a strategic asset that can be sold and exchanged but to determine how to evaluate the potential uses of different types of data is so complex and a lot of people or companies get it wrong in this aspect. Imagine, companies will have to evaluate their organization's structure first, go-to-market approach and overall corporate identity in the lends of the new data economy. We can all see that going through these processes are very tedious and waste of time as well.
To talk a little on transactional data, this describes an internal or external event which takes place as a company or an organization conducts its business. It can be financial, logistical or any business-related process involving activities such as purchases, requests, insurance claims, deposits, withdraws, etc.
Transactional data support ongoing business operations and are included in the information and application systems that are used to automate an organization’s key business processes such as online transaction processing (OLTP) systems. This type of data is grouped with its associated and references master data such as product information and billing sources. It records time and relevant reference data needed for a particular transaction record.
The quality of data has changed drastically, it's no longer mainly stocks of digital information and the value of data has increased geometrically. Social media and google initially used the data collected from users to target their advertising platforms but in recent years now, they have discovered that data can be turned into any number of artificial-intelligence (AI) or cognitive services which will be generate another source of revenue. These services include translation, visual recognition and assessing someone’s personality by sifting through their writings which can be sold to other firms to use in their own products.
As data continues to grow, the data economy will continue to emerge and enable companies to sell and exchange data. In other word, as the data economy emerges, changes in customer expectations and technological advancements will transform supply chains into complex mesh ecosystems.
Companies are now looking to implement machine learning (ML) and artificial intelligence (AI), they want a more comprehensive analytics strategy to achieve their business goals and target so as a result of this, it prompt them to learn how to incorporate modern machine learning techniques into their data infrastructure. Companies make use of AI because of its broader capability of machines carrying out tasks in an intelligent way. Machine learning is an application of AI that involves a particular type of data analysis to automatically build analytical models.
INTERVENTION OF QUADRANT PROTOCOL IN DATA ECONOMY
The Quadrant Protocol is a blockchain based network protocol that have access to creation and distribution of data products and services with authenticity and provenance at its core. Its purpose is to act as a blueprint that provides an organised system for the utilization of decentralized data. It has an already made strategies data sources so that new and innovative data products can potentially be created to help companies meet their data needs at all times. This participation of the following stakeholders made it possible for Quadrant Protocol to meet its goal and they;
*Nurseries; the Atomic Data Producers (ADPs) that create the original data records. They create Stars (raw data), which can then be grouped into Constellations.
Pioneers; the Data Vendors that create data products with the smart contracts on Quadrant.
Elons; the visionaries that utilize the created data products and with them, build new and unique products and services. They rely on Constellations and Constellation blueprints to make sense of the data space, which they will travel through.
Guardians; the master nodes that protect the integrity of the chain, ensuring that it is not compromised. The Guardians ensure that the Constellations created by the Pioneers are not compromised and provide the services of stamping, authenticating and verifying data.
Quadrant Protocol intend using proof of data authenticity and provenance, constellations for disparate data sources, fair remuneration and incentive sharing in solving the problems in the data economy. Making constellations available on Quadrant, the companies can be aggregated to form new Constellations at each level along the data value chain. It will never be the case in which the top Data Consumer sources directly from the millions of devices. What the Quadrant protocol can enable is that when the top layer Constellation is purchased, then all the corresponding Constellations are also triggered, hence enabling the release and remuneration of each party from the Location Aggregators to the SDKs and Publishers. Quadrant Protocol roadmap is represented by the diagram below...
QUADRANT PROTOCOL TOKEN ANALYSIS
The Quadrant Network will utilize two different currencies for its protocol which are eQuad and QUAD. The native digital crypto-graphically secured utility token of the Quadrant Network (QUAD) is a major component of the ecosystem on the Quadrant Network, and is designed to be used solely on the network. eQuad is an ERC-20 standard compliant placeholder digital tokens on the Ethereum blockchain which would be sold, and which may be converted into QUAD through a gateway when the Quadrant Network mainnet is eventually launched. In this whitepaper, "eQuad" shall refer to the placeholder token prior to mainnet launch, and shall refer to QUAD after the mainnet launch.
CONCLUSION
In conclusion, the Quadrant Protocol been a decentralized data blueprint is designed to work with both centralized and decentralized services. The architecture consists of the core Quadrant blockchain, clients (Data Producer, Data Consumer and Anchor) and Guardian Nodes. To know more about this project, the links below will really be of help.
WEBSITE: https://www.quadrantprotocol.com
WHITEPAPER: https://www.quadrantprotocol.com/whitepaper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=3676988.0
REDDIT: https://www.reddit.com/r/quadrantprotocol
FACEBOOK: https://www.facebook.com/quadrantprotocol
TWITTER: https://twitter.com/explorequadrant
TELEGRAM: https://t.me/quadrantprotocol
AUTHOUR BITCOINTALK USERNAME: lumibaba
AUTHOUR BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=2151502