In today’s world , data is very important to the decision making processes of any business, government, individual companies and even investors.
Authentic data is needed by companies etc to be able to proffer better solutions to the society and develop more innovative services
However, the data economy today is ladened with challenges ranging from lack of sufficient funds to acquire needed data, fake data, unsustainable data ecosystem and the problem of producers of the original data are not well compensated for their work.
Artificial intelligence today requires large volume of data.
And this can be cost-intensive.
Big companies wouldn’t have issues acquiring the needed data considering their financial positions.
But I doubt any smaller company still struggling with business fiance can be able to foot the cost associated to acquiring large volume of data.
Let’s take a look at this practical example…
A small pharmaceutical company has new product idea it wants to develop but doesn’t have the wherewithal ( funds)to acquire the needed data for the development of the business idea.
The adverse effect of this scenario is that people who could have gained employment if the company had acquired the data and develop the product would remain unemployed.
Government will lose on the tax the company would have paid .
Lastly, consumers would have missed an opportunity to get a product that help solve of their health challenges.
There’s a need for a level playing ground for both big and small companies.
There’s also the challenge of fake data. Some data vendors don’t care if the data being peddled is fake or not as far as their pocket is being filled.
This could result to organizations not making good decisions because of lack of authentic data.
Producers of the original data are not being well compensated for their work and as a result, they now careless in producing authentic and relevant data needed by businesses.
Producers have to be well compensated, if authentic data means anything to us.
The Quadrant Protocol is poised to take these challenges head on.
WHAT IS QUADRANT PROTOCOL?
Quadrant protocol is envisaged as blockchain – based network protocol that enables the access to , creation and distribution of data products and services with authenticity and provenance at its core.
WHY QUADRANT PROTOCOL?
Quadrant protocol would make data accessible for all and at a much lower cost.
It would ensure that data are organised and authentic , this will be made possible through the quadrant protocol proof of data authenticity and provenance feature.
This feature will ensure that all data is stamped so that its origin will always be known….which will go a long way in building trust in the data economy.
Would ensure that producers of original data are well paid for their work.
HOW DOES IT WORK?
A data pioneer produces data for a data consumer that needed data.
The pioneer then move the DNA stamp data to the quadrant.
The data consumer checks for the authenticity of the data as soon as she receives .
In the event that the data matches the original data produced…the data consumer will have proof of acquisition.
But if the data does not match the original data, the data consumer is at liberty to contact the data pioneer so both of them can resolve the issue.
USE CASES FOR AI , MACHINE LEARNING AND OTHER INDUSTRIES?
Cyber security.
Trading.
Marketing.
Health.
Self driving cars.
Improving on the manufacturing processes for industries.
Industries would be able to design products to consumers specifications.
Development of more innovative business ideas.
Managing the supply chains.
Etc
CONCLUSION
I’m just excited about this project.
This is real problem that its going to solve.
You can imagine a world where data is accessible for all , authentic ant at a much lower cost.
The team are experienced professionals too.
The white paper is well detailed and comprehensive.
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For more information please visit
Website
http://www.quadrantprotocol.com/
Whitepaper https://www.quadrantprotocol.com/whitepaper.pdf
ANN https://bitcointalk.org/index.php?topic=3676988.0
Author: johnthedon
BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1860087
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