Data, in this 21st century, is one of the most vital resources for any enterprise. Today, data-driven models power E-commerce, Advertising, Health Care, and Finance sectors. With the commoditization of data, we have seen numerous marketplaces emerge. Further with the advent of blockchain and the potential to build decentralized systems on top of it, several "decentralized marketplaces" have come into existence.
In my previous writings, I have covered some decentralized marketplaces that are focused on data exchange such as RepuX and Effect AI. Each one of them has a different business model and focus area, Effect AI, for example, focuses extensively on the AI segment and much more than a marketplace. Central to the idea of the RepuX marketplace is the concept of a reputation system, the one that will govern interactions between buyers and sellers of data. In this post, I'm introducing a new network for the seamless exchange of data, that focuses heavily on the authenticity of the data being exchanged, by incorporating sophisticated techniques such as data stamping. It is called Quadrant Protocol.
Quadrant is a decentralized protocol that will its own core blockchain infrastructure and native consensus algorithm to facilitate the generation and distribution of data. The protocol lays extreme impetus on the "authenticity" aspect of data and identifies the lack of it as the primary reason for the sub-standard results associated with existing data-driven models. This is 100% true - Take the examples of sophisticated techniques such as "Supervised learning" in which Machine Learning models are trained with large datasets. Ultimately, these techniques are central to the idea of building supernatural AI systems such as autonomous vehicles and driverless cars. If the data supplied to these base algorithms are unauthentic, then we have got a genuine problem! Quadrant here is trying to fix that.
Within the Quadrant ecosystem, you have got the data providers dubbed as "Nurseries" whose data is then clubbed to a single data source by smart contracts known as "Constellations". "Pioneers" then create data products using native smart contracts. The resulting products are then consumed by the "Elons" who build systems and services out of them. Finally, we have got "Guardians", the watchdogs within the network, who vigilantly monitors the transactions for their integrity and flags any violation by the stakeholders.
The network will be powered by a native QUAD token which will be used in different ways. For example, the Nurseries will have to spend QUADs for stamping their data. Likewise, Elons will have to make use of QUAD tokens as a collateral/staking preventing any potential abuse of the network.
A huge positive with Quadrant is its commitment to the true "democratization of data" i.e data shall be available for everyone - big and small enterprises, without discrimination, while the original creators shall be compensated fairly for their work. This is extremely refreshing when you consider the fact that the data-driven business segment is being monopolized by large corporations such as Google & Facebook and currently the creators are not incentivized in any way. Amongst the many things that Quadrant is bringing to the table, the idea of rewarding the original creators resonates well with me.
To learn more about Quadrant visit the Website