The Effect.AI Project and ICO Summary [on NEO platform]

in cryptocurrency •  last year


"The effect of this network will define the future relationship between humanity and AI" (с)Effect.AI team


In the past five years there has been a rapid growth in the number of practical Artificial Intelligence (AI) applications around us. Smart services, like self-driving cars, face and voice recognition in mobile phones and image translation are getting a central place in everyday life. This rise can be explained by the advances in machine learning research and the ready availability of cloud computing. This has resulted in large adoption by the industry and the birth of a billion-dollar-economy around smart applications.

The Effect Network is designed to provide a feature complete alternative to services like Amazon Mechanical Turk, Fiverr, OneSpace and, and operates fully on smart contracts deployed on the NEO blockchain. The Effect Network, like other decentralized applications, directly connects supply and demand without the need for an intermediary party. In order to realize this project and to build The Effect Network, process was splitted into 3 phases

effect.pngPhase 1. Effect Mechanical Turk
It's the Effect Platform that will be an interactive marketplace for tasks that require human intelligence. A Decentralized Mechanical Turk (M-Turk). It 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
Decentralized M-Turk advantages:

  • Decentralized, private, secure, fully global, very low cost

globe.png Phase 2. Effect Smart Market
Smart Market is 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 Algorithms can sell, rent or give out its service for a simple and easy payment with the Effect token.

sphere.png Phase 3. Effect Power
Phase 1 and 2 of The Effect Network will decentralized the data gathering and usage of AI products. Up to this point the algorithms themselves still run on centralized servers. In the final phase of The Effect Network the algorithms will be decentralized on the blockchain, so that the algorithms run globally on the NEO blockchain.

ICO detals

Start DateMarch (exact date TBA)
End Date18 days after start date
Soft Cap€ 4,280,000
Hard Cap€ 14,820,000
Discount10% For the first 5,200,000 tokens
Minimum invest€ 50
Maximum invest€ 25,000
Accepted currenciesNEO, ETH
Tokens total amont650,000,000
Token Sale percentage40%



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I really like the innovative idea of ​​Effect.AI in the development of artificial intelligence. The main advantage of this platform is the possibility of mass use and ease of use.