There are some things in life that you just don’t understand at first, and then when you do, your mind is blown.
While writing a series on projects offering airdrops, I came across Synapse AI. Not knowing much about artificial intelligence other than that our future is going to rely heavily on it, I initially didn’t have much interest in what they’re trying to do. But after a few minutes of research, it became clear that what they are working on could benefit hundreds of millions of people and startups and established companies and projects, and in a massive way.
For most of us, the way Synapse AI may have an impact on our lives in the near future is by providing us income in exchange for the data we choose to allow companies that pay for it access to. For companies, specific but not limited to machine learning, they will have an array of data to access for a fee from willing participants.
If that’s not enough to put the Synapse AI project on your radar, here are seven reasons I believe this is an effort worth watching:
1. Transparent Data Collection and Use
Have you ever read a full user agreement? Most companies, although they are required to provide a user agreement, know that you won’t ever read it, and are able to find ways to carefully state that they will be collecting and using your information without your direct knowledge of it. The blockchain brings out the best in transparency, and Synapse AI will only further the push for companies to be transparent about the data they collect and use, and even compensate them for it.
2. The Shift in Who is Rewarded for Data
Correctly stated on the Synapse AI website, “The value of data has belonged to those who collect it. We believe in a future that allows those who contribute data to be compensated.” This will be a very welcomed shift by consumers, who may now opt to give access to information they otherwise would keep private.
3. Growing Importance of Passive Income
As traditional jobs that have been around for centuries disappear, more of us will rely on passive income streams and finding ways to make money that were previously unavailable. Synapse AI provides another avenue for anyone to earn income without having to have special skills or spend a tremendous amount of time earning it.
4. Simplifying Access to Valuable Data
An open data marketplace makes acquiring information easier than it ever has been. Companies will save on costly data collection techniques and avoid having to trick consumers into giving their information without being compensated for it.
5. They’re Creating a Machine Learning Data Pool
Data powers technology. Synapse AI is working to give that technology a larger quantity of and richer data. This will help stimulate innovation and increase the speed at which available technologies improve, specifically, machines.
6. Team and Advisors
He may have started a coin as a joke, but seeing Dogecoin Co-Founder Jackson Palmer as an advisor for Synapse.AI made me give this project a serious look. The team is led by CEO Dan Gailey, who has degrees in Electrical Engineering (autonomous robotics), and Computational Chemistry, and supported by a team of marketers, developers, and designers.
7. Large Token Allocation for Developers
For a project like Synapse AI to succeed, it needs to have the support of skilled developers who can build and grow the platform and solve issues as they arise. Many projects do this by allocating some of their coins to developers. Synapse AI is setting aside a hefty 330M of a possible total of 1B (33%) tokens solely for “developers and companies who test, use, and launch on Synapse.” This reward pool is larger than most and will help the founding team get needed help in scaling the platform and their new marketplace. It will also help establish a community around the project, which many early stage blockchain-based startups have failed to do in the past.
What do you think of this project? Please comment below.
Note: This is not financial advice and I am not a financial advisor, nor am I a cryptocurrency expert. I have not personally invested in the Synapse AI ICO. However, I have participated in their free airdrop to acquire a small amount of free SYN tokens. Please see links below for additional information and to enter the airdrop if you are interested.
Learn More and Follow the Synapse AI Project (Token Sale is Currently Live):