Quadrant: A fairer and healthier data economy infrastructure

        

Data has been called “the new oil”: the central asset that fuels the growth and development of the modern economy. But the data industry that produces and processes it is deeply flawed. It is overly complicated and opaque in a way that both invites controversy and repels potential participants. The opacity serves to hide inefficiencies and make them harder to eliminate. Above all, its ecosystem is dysfunctional. While some companies have the capability to collect and store their own data, many of the smaller data businesses do not and are therefore forced to rely on data they receive from others for the development of their algorithms. Yet data providers do not have strong incentives to supply them with authentic, legally acquired data, which causes problems on the side of the buyers.

https://www.quadrantprotocol.com/

As a result, between inauthentic data and its associated regulatory troubles, a dearth of high quality supply and powerful competition, smaller data companies seldom stand a chance. DataStreamX (DSX) plans to help them, and the industry, by confronting all sides of the problem with their innovative Quadrant Protocol. Their intention is to facilitate the exchange of data within a blockchain-based network underpinned by a special method of authentication and a system of incentives for all participants.

How will the Quadrant Protocol and its network function?

The Quadrant blockchain is based on a proof-of-authority algorithm, allowing it to operate at much greater efficiency. The main chain will connect to various clients, including an external proof-of-work anchor blockchain used for additional security, and to Guardian Nodes that ensure the proper operation of the chain and many of its services in return for the payments made on the platform.

Quadrant identifies the main stakeholders in it ecosystem as “Nurseries” (producers of raw data), “Pioneers” (vendors of data products) and “Elons” (those who use the data to create new products and services), as well as other data consumers. All of them will be connected to the network and take advantage of its features. Both Nurseries and Pioneers will be able to authenticate every piece of data they produce by means of a Data Stamping protocol that adds it to the network and provides it with a unique “fingerprint”. Any consumer would then be able to verify the data's origins and make sure that it has not been tampered with since it was first submitted.

Pioneers could use the network to bring raw data “stars” from disparate sources into “Constellations”, which could likewise be authenticated, sold on the network and brought together into still larger agglomerations of verified data for every possible subject and use. Constellations will be based on smart contracts that will “remember” what source originally contributed which pieces of data, and every contributor will be remunerated automatically in proportion to their involvement. The network will also allow its diverse users to work out specific terms for collaborative data projects. All payments will be made using the utility QUAD token, which could be used to subscribe to Constellations, stamp or verify data and stake access to feeds.

      

Who could participate in Quadrant, and why?

DSX means to have its platform serve the needs of the entire data ecosystem. Under Nurseries, it means so-called “Atomic Data Producers”, from individual devices and sensors to practically any modern organisation that constantly creates data as a product or byproduct of its main activities that could have some value of its own. By making this data available on the Quadrant network through some arrangement or another, those producers will be able to draw considerable profits on their own terms without needing to do anything else. Pioneers are middlemen, mostly data vendor companies, who collate information from different sources and resell it on the same platform. Both of those groups will thus gain an extensive new market with lower transaction costs, guaranteed compensation and an atmosphere of greater trust.

https://www.quadrantprotocol.com/

The other side of the market is represented by data consumers – particularly, AI and machine learning companies – and Elons, visionary individuals and companies of all sizes. The former require high amounts of authentic data to develop their algorithms; the network will, for the first time, give them access to a reliable supply of it. As for the latter, they are expected to use the network to create “Mega Constellations” and stake access to data fields in order to develop innovative data products to be propagated outside the network. This comparatively cheap, easy and dependable access to big data is expected to accelerate technological progress – and thus, feed the need for more data. Although this project is explicitly not ran for profit, DSX positions itself as its first user and will be in position to benefit directly and indirectly from its success.

What makes the Quadrant Protocol project more likely to succeed?

DSX has been in the data trading business since 2015, and developed this project as an outgrowth of its existing enterprise. The company has used its experience in the field to identify a pressing and widespread need for a better model of data trading. Coming at a time when the opacity and questionable practices of major data companies have come under attack from large sections of the public, Quadrant Protocol is a very timely and appealing project for the current zeitgeist. It could tap into widespread enthusiasm for innovation and transparency, which may prove crucial for getting it off the ground. It also seems to be easily scalable, given sufficient interest from participants.

Token sale details

eQuad is the platform's external token that could be converted to QUAD once the main network is launched.

         

An audacious bid to repair the data industry and support innovation

The Quadrant Protocol project appears to be a good fit for the field of data-driven innovation that it proposes to rescue from the grip of major companies. It is very ambitious, high-minded and evidently unafraid of using a somewhat arcane-sounding jargon to describe its platform. That may make it seem rather off-putting or confusing to outsiders, though it is likely to play well with true believers in innovation; still, it would be worthwhile for it to elaborate on its anticipated use cases and ecosystem further.

Regardless, there is no denying that the data industry does indeed suffer from serious problems of accessibility and transparency, and that the current major players lack the flexibility, credibility and, perhaps, self-interest needed to resolve them. As such, a solution that utilises cutting-edge blockchain technology to create a fairer and more decentralised parallel marketplace for data trading ought to get some attention. It remains to be seen whether Quadrant will attract the support it needs within the industry, and whether DSX's expectations of turning it into a broader, self-expanding ecosystem for data-driven innovation will pay off. If it does, then the Quadrant network would be ideally placed to benefit from the anticipated continued rise in demand for authentic data.

Links:

Website: https://www.quadrantprotocol.com
WhitePaper: https://www.quadrantprotocol.com/whitepaper.pdf
Telegram: https://t.me/quadrantprotocol
Facebook: https://www.facebook.com/quadrantprotocol/
Twitter: https://twitter.com/explorequadrant
Medium: https://medium.com/quadrantprotocol
ANN: https://bitcointalk.org/index.php?topic=3676988.0
Author: https://bitcointalk.org/index.php?action=profile;u=2201409

Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.