The AI market is growing at an accelerated pace, it is estimated that it will move $ 15.7 billion by the year 2030. Between transport, commerce and communication, it is likely that the IA will surely have a great impact on daily life little by little .
But it is a pity that for the moment few companies like Google, Facebook and Amazon are able to develop these algorithms today. This is due to the fact that currently the entry barrier is very high due to data processing, divergent tasks and computational costs.
Effect.AI proposes a public and decentralized ecosystem for the development of AI and the services related to this called The Effect Network. This network is designed to provide an alternative to services such as Amazon Mechanical Turk, Fiverr, OneSpace and Guru.
The Effect Network will work exclusively on smart contracts on the NEO blockchain. The idea is to offer all the services that an AI market can offer.
The network does not require commissions, has a low entry barrier and is divided into three distinct phases: Mechanical Turk, Smart Market and Effect Network, which will be explained below.
Phase 1.
Mechanical Turk - Effect Mechanical Turk is a private, decentralized market that requires human intelligence. The key point for Effect M-Turk is that it is peer-to-peer, connecting supply and demand more efficiently.
This stage will work with collaborators who will be able to carry out tasks (called human intelligence tasks) to be carried out by them in exchange for compensation in EFx, the token of the platform, which are carried out through intelligent contracts of the block chain.
Phase 2.
Smart Market: This will be a decentralized market where algorithms can be sold or rent their services with users and between them. Application owners can register their IA products and specify the price or usage rate, and these applications are available to everyone in Smart Market.
Phase 3.
Effect Network: Until this last phase the algorithms will work in a centralized manner, until they are added to the blockchain and thus they can be used globally in the NEO network.
Beginnings of the project.
The Effect.AI project began in 2016, in its second quarter and the first implementation of an algorithm on a website came a year later. After this the idea of implementing the algorithms in a blockchain arose.
In the third quarter of 2017 the company was officially founded with the objective it has today, the white paper was published in this same quarter. Phase 1 began in the fourth quarter.
It is expected that the full version of phase 1 is set for the 3rd quarter of 2018, with phase 2 for the second quarter of next year, and for the other year, in the 4th quarter, phase 3.
The tokens and the value of these
The EFX token will be launched in the NEO block chain, adhering to the NEP-5 stop standard. It will be the means for payments between workers and applicants on the platform. The more these tokens are used, the more value they will have.
Workers can sell their EFX.
Network users can buy EFX
Galaxy Pool guarantees stable exchange rates for users of the platform which has a mechanism to avoid manipulation of prices.
The Effect.AI team
Opportunities offered by the network:
Many of the tasks within the platform can be performed by people without special skills, unbanked and in any country in the world. The pay that can be received is $ 9 per hour, as opposed to the $ 2 that is earned on other platforms.
The project is ambitious but it is fully achievable. The step between phase 1 to 3 makes sense and each phase is built on the previous one. The EFX tokens must have a lot of use even when only phase 1 starts.
The %20 will be blocked for 18 months for a future sale of these.
Conclusion:
The project has a lot of potential and that only taking into account the 1st phase finished.
The benefits of an artificial intelligence network will be an incalculable contribution to humanity, the power of a supercomputer distributed all over the world to everyone is something that we do not count on today and that was not even dreamed of, at least not in this way, by no science fiction writer and can be a great pillar of the advanced society that has been dreamed so much.
Certainly there will be no human area that is not positively affected by the AI, and within a short time we can say that the miracle that saved us life or someone close to the Effect.AI network.
For more information, watch these videos:
Check these links too:
- Effect.AI Website
- Effect.AI WhitePaper
- Effect.AI LightPaper
- Effect.AI YouTube
- Effect.AI Medium
- Effect.AI Facebook
- Effect.AI Twitter
- Effect.AI Telegram
- Effect.AI Review/Explanation Video
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