The EFFECT Network

The EFFECT Network

Artificial Intelligence (AI) is progressing rapidly and has already caused many different effects. We see AI applications everywhere we look; from phones to autonomous vehicles to biotechnology, AI has become ubiquitous.
AI is often considered the key component of the Fourth Industrial Revolution .
Like the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise global income levels and improve the quality of life for populations around the world.
However, the revolution could yield greater inequality as well, particularly in its potential to disrupt labor markets as automation substitutes labor across the entire economy .
Consider, for example, when entire workforces were laid off when pinhead factories started incorporating machines in their fabrication process. A similar, though far larger threat looms due to new advances in AI development.
Bill Gates had the idea to tax labor performed by AI-algorithms, to compensate for the loss of jobs in many sectors1 .
This idea seemed science fiction at the time, but the concept can be realized on the Effect Network, a decentralized network for AI. Effect.AI brings AI-algorithms to an open and proven decentralized platform, powered by the blockchain and accessible to all.

The problems:
Despite the advantages AI brings there are a number of problems that have to be dealt with, especially regarding the research and development of AI technology. These problems can broadly be categorized into three areas that currently make AI research and development difficult to perform.
• Data processing
• Diverging Tasks
• Computational Costs

The solution:
A decentralized ledger like the blockchain provides a direct link between supply and demand which can greatly mitigate these problems. The transparency that blockchain offers will boost discoverability on the network, resulting in a high degree of collaboration and data sharing between agents. It also increases knowledge diversity and makes AI more affordable by sharing cost.
• Accessibility.
• Accuracy.
• Performance.
• Interoperability.

EFFECT.AI Token Sale Details

Start Date: March(exact date TBA)
End Date: 18 days after start date
Soft Cap: € 4,280,000
Hard Cap: € 14,820,000
Discount: 10%For the first 5,200,000 tokens (2% of token sale)
Minimum invest:€ 50
Maximum invest: € 25,000
Accepted currencies: NEO, GAS
Maximum numbers of tokens generated: 650,000,000 tokens
Token Sale percentage: 40%

Effect Token Distribution details

40% is available for public
15% Effect.IA Team
20% Future Funding
7% Partnership & Advisors
16% Platforms Incentives
2% bounty