The EFFECT.AI - Decentralized Network for Artificial Intelligence (NEO)
What is EFFECT.AI and what do they do?
Effect.AI, operating out of central Amsterdam, is a Dutch software company that was founded in 2015. However, the majority of the team has been working together for a longer period of time at Itsavirus, a company that has nearly a decade worth of experience developing complex technical solutions for large international companies such as Heineken and Shell. After blockchain technologies and cryptocurrencies started picking up steam with the successful launch of Bitcoin (the first widely adopted cryptocurrency), the core Itsavirus team decided to branch off to create Effect.AI.
What is the purpose and idea of the project?
This new company’s main objective is to build a decentralized platform that will stimulate AI development and the creation of various AI services. The idea is to deliver a platform that is more democratic, accessible and easy to use than what is currently available. Due to the size and scope of this operation, Effect.AI plans to achieve these goals by dividing the project in three phases.
Application in three phases.
Instead of just putting the word ‘blockchain’ somewhere in the company description and calling it a day, blockchain technology is crucial to Effect.AI’s plans for providing a decentralized solution for AI development. Because blockchain technology can also be applied to areas other than cryptocurrency, there is now (at long last) a way to solve the cost issue involved with the creation of the data sets needed to feed algorithms and the power needed to actually run them. Once the following three phases have been completed, aspiring AI developers and customers will have access to a decentralized AI marketplace and development platform called ‘The Effect Network.’ These are the phases as they are explained on the Effect.AI website:
Phase 1: Effect Mechanical Turk
The first phase of The Effect Network will be an interactive marketplace for tasks that require human intelligence. A Decentralized Mechanical Turk (M-Turk) allows anyone in the world to perform a wide range of tasks and receive fair payment. It will give AI developers and businesses access to a large workforce of human intelligence to train AI algorithms. When a worker completes a task, they are paid with a network NEP-5 token called #EFX.
Phase 2: Effect AI Marketplace
The Effect AI Marketplace is a decentralized platform where people can offer and buy AI services. This phase is a natural progression of the network. It will be an open marketplace for offering AI algorithms as a service. This marketplace or exchange is where AI developers, with a functional algorithm, can sell, rent or give out its service for a simple and easy payment in the form of the #EFX utility token. Each Algorithm will have its own wallet to allow for easy acceptance of transactions. Also within this marketplace, algorithms will have the ability to communicate and collaborate with other algorithms and purchase services from each other.
Phase 3: Effect Decentralized AI
The last phase provides a decentralized, distributed computational platform that will run popular deep learning frameworks. The Effect Decentralized AI engine is based on popular deep-learning networks like Caffe, MXNet and Tensor flow. It should provide a means of distributing the computational power needed to run the algorithms globally. This can be achieved through partnerships or by creating a custom Effect.AI framework.
As is evident from its appearance in the three phases, the final part of the equation comes in the form of the #EFX token. This is a utility token that will allow for easy payment on the platform. #EFX will operate fully on smart contracts deployed on the NEO blockchain. Effect.AI aims to launch a complete solution for blockchain powered AI development.
Comparison with competitors Effect AI M-TURK
The Effect Network allows anyone in the world to perform tasks that are vital for algorithms to learn and grow. Human agents that perform these tasks will receive fair payment within this decentralized platform in exchange for the work they perform. It gives AI/ML developers and businesses access to a large worldwide workforce to help create data sets necessary for AI learning.
Public EFX Token Sale
Public sale is planned for the end of March. And it will end 18 days after the start. Below is the detailed information:
Tokens will be distributed as indicated below in the graph:
The 20% of tokens for future funding will be locked by a smart contract for 18 months. If predetermined milestones are met these tokens will be released for a second round of funding for the later phases of the project. If predetermined milestones are not met the tokens will be burned.
Bounty Campaign
Also, the project has an excellent bounty campaign. Attach to it you can follow the links:
Roadmap
The project Team
Chris Dawe - CEO
Jesse Eisses - Blockchain Lead
Laurens Verspeek - Development Lead
Nick Vogel -Design & Interaction Lead
Jeffrey Hamer - Developer
Nico Curylo -Developer
Polina Boykova - Community Manager
Jaqueline Gross - Administration