QUADRANT PROTOCOL THE FUTURE OF DATA ECONOMY

emmy92 (42)in #ico • 6 years ago

The most exciting and trending technology in this current era is blockchain technology. The amazing thing about blockchain technology is that it can be implemented on both new and existing platforms such as Healthcare systems, Finance systems, Gaming platforms, Engineering, Information Communication platforms etc thereby solving related issues at the same time maintaining its outstanding features.
Blockchain technology has the following features;
a. Time stamping: This ensures that every transaction carried out within a blockchain-based system is not lost and can be tracked,
b. Smart contracts: This feature ensures that every real-time transaction is carried out efficiently with no point of failure,
c. Decentralization: This feature ensures that data is safeguarded at the same time transparent, thus making every blockchain-based system trustworthy and reliable.
Indeed blockchain technology came with a great revolution and as such, in other to be part of this great revolution as well as solving related issues plaguing the data economy led to the creation of an outstanding and unique platform known as QUADRANT PROTOCOL.

INTRODUCING QUADRANT PROTOCOL

First, what is Data Economy? Data economy can be seen as an external ecosystem of data which is outside of one Company, Individual or Organizational silo (Geoff Domoracki, 2012). According to him, proper utilization of these data solves problems in Healthcare systems, Law, Established Industries etc.
These results can only be achieved if the provided or available data required to power algorithms are authentic, thus the need for Quadrant Protocol.
Quadrant Protocol can be seen as the guide providing an organized system for mapping or utilization of decentralized data.
Quadrant Protocol is a blockchain-based protocol having authenticity and provenance at the heart of its ecosystem, thereby providing organized access, creation and distribution of decentralized data products and services.
Blockchain technology is very vital to Quadrant Protocol as it ensures that;
i. The created data is authentic as well as being traceable (Time stamping or Data Stamping),
ii. The creation of data is efficient with no point of failure (made possible with smart contracts or data smart contracts).
iii. By being a blockchain-based platform, data is protected against manipulation etc.

THE PROBLEMS QUADRANT PROTOCOL AIMS TO SOLVE

Wide AI Data Gap: The AI (Artificial Intelligence) data gap between the haves and have-nots keeps widening owing to the fact that small companies (have-nots) finds it hard creating AI innovations as a result of lack of access to the volume of data their algorithms needs, while big companies like Google (haves) have all it takes to collect and store these data thus producing better products. This, in the long run, leads to lack of competition.
Fake and Unauthentic Data: With data being easy to fake, copy or misinterpreted, many try to manipulate the system, owing to the vast amount of money involved. This, in the long run, makes it difficult for Data consumers to properly and accurately vet data when purchasing from third-parties. Fake data inputs give poor output results, thus manipulated data when implemented on AI systems, trading etc gives a catastrophic result.
Unsustainable Data Ecosystem: Data producers do not continually produce the required volume of authentic data needed because they are not compensated well enough.
Fair Revenue Distribution: Producers of data are the ones at the receiving end as they are not duly paid or are paid once for the data they produce.

THE SOLUTION

The solution to these problems is Quadrant. Quadrant solves these problems by guiding unique data sources so that new and innovative data products can be produced thereby helping companies met their data needs.
This is made possible via the following stakeholders;

Nurseries: They are the Atomic Data Producers (ADPs) responsible for creating original data records. ADPs creates raw data or STARS which can easily be grouped into Constellations or data products.
Pioneers: These are data vendors responsible for creating data products on Quadrant which is made possible with the aid of smart contracts.
Elons: These are visionaries that utilize available data products thus creating entirely new and amazing products and services which have real-life uses.
Guardians: The master node which is responsible for protecting the integrity of the chain making sure it is not compromised.

Benefits Associated With Quadrant Protocol

Data Stamping: Quadrant stamp for data authenticity thereby making it possible for data buyers to trace as well as having an outstanding knowledge or proof of who created the data.
Constellations or Data Products Creation: Quadrant encourages Pioneers thus enabling them to create the first ever Data Smart Contracts which is then used to create new data products or constellations.
Enriched Data and Services: Quadrant empowers brilliant developers to work on building outstanding data products and services on top of Quadrant.

QUADRANT PROTOCOL TOKEN

Quadrant will utilize two different token or currencies for its ecosystem;
a. QUAD: This is the native currency and will be used solely within the ecosystem.
b. eQuad: This is an ERC20 token built on Ethereum blockchain, which will be sold during the token sale. When the mainnet is launched, eQuad can be converted to QUAD via a dedicated gateway system.
eQuad is a utility token with the total supply of 1,000,000,000.

INFORMATION ON INITIAL COIN OFFERING (ICO)

The token sale is yet to be announced, but investors can join the waitlist.

CONCLUSION

Quadrant aims to operate on Proof-of-Authority consensus mechanism thereby being able to;
a. Handle more transactions,
b. Operate at a lower gas price,
c. Process transactions faster,
d. Prevents malicious nodes from entering data.
While for security purposes, an external Proof-of-Work chain will be utilized.
With Quadrant Protocol, the following is achieved;
i. Data Stamping Protocol: By stamping data into Quadrant, Pioneers and Nurseries can lay claim to the produced data,
ii. Open Data Products or Constellations: Data products can be created by both data suppliers and data consumers, thereby allowing for the proper distribution of revenue share.

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