Day: March 4, 2018

Chinese e-retailer JD.com proceeds with Blockchain supply chain platform, wants to provide customers peace of mind on meat purchases. #NEWS

Vice-Minister Kozyrev of Russia’s communications ministry expresses need for the ministry’s own Blockchain platform for document and ID management. #NEWS

A class action lawsuit was filed against Coinbase this past Thursday on March 1 accusing the exchange of ‘insider trading’ for the bitcoin cash launch last December. The complaint filed by the plaintiff is demanding a jury trial for losses incurred on behalf of himself and the other customers involved.

Also read: Markets Update: Crypto Markets Continue to Spike Higher

Tipping Off Employees

Last year there were some unsatisfied customers who complained about the Coinbase bitcoin cash launch. An individual named Jeffrey Berk and others similarly situated have filed a class action complaint in California against the exchange Coinbase for alleged insider trading. The 18-page lawsuit filing accuses the exchange of tipping employees a month prior to the official launch of bitcoin cash (BCH) on December 19, 2017. The case is demanding a jury trial against Coinbase Inc., GDAX, David Farmer, and Brian Armstrong.

According to Berk’s complaint, he says that customers who placed purchase, sale or trade orders on the BCH launch date suffered monetary losses due to alleged company employees tipping people off well before the release date.  

“On December 19, 2017, a month after tipping off its own employees as to when it would commence fully supporting BCH, Coinbase suddenly announced that it was opening up its books to the buying and selling of BCH within minutes after its announcements,” explains the class action lawsuit.

Unsurprisingly, those who had been tipped off, immediately swamped Coinbase and the GDAX with buy and sell orders, thinning the liquidity but obtaining BCH at fair prices. The market effect was to unfairly drive up the price of BCH for non-insider traders once BCH came online on the Coinbase exchange.

Insiders and Those Who Had Prior Knowledge

The filing says the those who were not “tipped off” were not so lucky because after insiders sold their BCH the trading platform halted all trading activities. The complaint details the exchange tried again the very next day to launch the coin but ceased trading again.

“They opened BCH for purchase, sale and trading the next day, and again within minutes, closed the books and canceled all the outstanding order while insiders and those who had prior knowledge of Coinbase’s confidential information were able to buy, sell and trade,” the complaint states.

Coinbase CEO Takes Confidentiality of Material Non-Public Information Very Seriously

The San Francisco based firm Coinbase had responded to accusations of insider trading in a blog post written by the company’s founder Brian Armstrong on December 19. In that post, Armstrong describes the firm’s internal trading and confidentiality policies. Armstrong says that the company has had internal policies in place well before the launch of BCH and all employees were prohibited from trading and talking with outsiders about the launch.

“This was communicated multiple times via multiple channels to employees — The trading restriction, which applies to all personal trading activity on any platform, remains in effect now,” the Coinbase founder details.

I take the confidentiality of material non-public information very seriously as CEO. Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter. If we find evidence of any employee or contractor violating our policies — directly or indirectly — I will not hesitate to terminate the employee immediately and take appropriate legal action.

It remains to be seen what becomes of the Berk-vs-Coinbase case filed in California. Berk is represented by two attorneys from Green and Noblin P.C., and the Grant Law Firm. The complaint is demanding a jury trial where both parties can outline their case, and present further evidence.

What do you think about the class-action lawsuit filed against Coinbase? Let us know what you think in the comments below.

Images via Shutterstock, Bitcoincash.org, Pixabay, Coinbase logo, GDAX interface, and Twitter.

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The post Class Action Complaint Accuses Coinbase of ‘Insider Trading’ appeared first on Bitcoin News.

As detailed in a 2016 report by Oceana, fraud is a huge problem in the seafood industry. Based on data compiled from 200 studies, the ocean conservation advocacy group found that as much as 20% of seafood is not labelled correctly in the U.S. This mislabeling has wide-reaching consequences on global health, the economy, and conservation efforts. Fortunately, that is set to change, and it’s blockchain technology that we have to thank.

Oceana’s study was limited to retail outlets, including restaurants, sushi venues, and grocery stores, so it’s not known exactly where in the supply chain seafood fraud actually takes place. The seafood mislabeling infractions detailed in the report ranged from the restaurants listing wild salmon but serving a cheaper farmed salmon instead, to sushi chefs purposely mislabeling endangered whale meat as tuna in order to smuggle it into the country.

According to the report, the problem is traceability, and a more detailed and transparent record of information about fish as they move along the supply chain could help decrease instances of mislabeling.

Seafood blockchains

As we know, the core of blockchain technology is simply a secure, transparent way to record transactions, and a number of companies are looking for ways to apply it to the seafood supply chain. In April 2017, Intel showcased how Hyperledger Sawtooth, a platform for creating and managing blockchains, could facilitate seafood supply chain traceability.

The study used IoT connected sensors to track and record information about a fish, such as its location, temperature, and other characteristics as it made the journey from ocean to plate.

More recently, in January of this year, the World Wildlife Foundation (WWF) announced their Blockchain Supply Chain Traceability Project. Similar to Intel’s, this project aims to aide the WWF and their partners in cracking down on illegal tuna fishing by recording every step along the supply chain on a blockchain.

“Through blockchain technology, soon a simple scan of tuna packaging using a smartphone app will tell the story of a tuna fish — where and when the fish was caught, by which vessel and fishing method,” WWF-New Zealand CEO Livia Esterhazy said in a press release. “Consumers will have certainty that they’re buying legally-caught, sustainable tuna with no slave labor or oppressive conditions involved.”

Fishcoin

The difficulty with making an idea like this a reality — and one that works, is reliable, and trustworthy — is getting everyone along the supply chain to not only agree to a new recording system but properly implement one too. Welcome, Fishcoin.

According to the company’s white paper, Fishcoin is a utility token that creates an incentive for data capture in various forms, beginning with key data elements captured and communicated by fishermen and fish farmers for the purpose of traceability.

How does it work? Fishermen in developing nations send a restaurant or grocery store information on the seafood they caught. This triggers a smart contract that transfers a certain number of Fishcoins into those fisher’s crypto wallets. The fishers can then use those Fishcoins to pay bills or buy cellphone minutes. With an underlying blockchain that records all this information, Fishcoin looks to provide the incentive to make it happen.

The post Intel’s Blockchain Application Tracks Global Seafood From Ocean to Plate appeared first on NewsBTC.

The SEC is on an active quest to remove all illicit offerings from the cryptocurrency ecosystem. That is quite a steep challenge, as there are a lot of things to take into consideration. The commission’s latest effort involves issuing dozens of subpoenas to ICO issuers.

The SEC Steps up its Game

Most people will be pleased to see the SEC take this course of action. There is nothing wrong with what the agency is doing as of right now, even though those who are involved in the ICO industry will not be too pleased with the way things are going. It has become very clear that the government agency is concerned with initial coin offerings and the potentially illegal aspects of some of these projects.

Over the past few months, we have seen the SEC go after potentially illicit ICO offerings. As such, the trading of specific tokens and company shares has been suspended, although it is possible some of those offerings will come back at some point. However, it does not end there for most of the ICO projects, as the next step has already been taken.

To be more specific, the SEC is now issuing subpoenas to virtually anyone involved in issuing ICOs. This means they will not only go after the centralized platforms designed to issue these tokens, but potentially also the trading platforms where these ICO tokens are traded. The goal is to make ICO issuers and facilitators adhere to the same compliance guidelines as traditional securities issuers. Whether or not that is a realistic goal is yet to be determined.

It is evident the securities industry is incapable of dealing with ICO tokens as of right now. More specifically, its infrastructure is not fully compatible with this new token type, and it creates a lot of potential compliance issues. As long as this remains a problem, the ICO industry will not gain any major traction in the US or potentially anywhere else in the world. It’s a very worrisome situation, but it seems the SEC is being proactive about solving all of these problems in the future.

Although issuing subpoenas may be considered a rather severe course of action, it is also necessary, according to the SEC. It wants to further crack down on any companies violating securities laws. For now, it remains unclear which companies or entities have actually received such a subpoena over the past few days, but it seems there are quite a few of them. Getting rid of the illicit elements which promote the ICO model for a business that doesn’t exist is a positive development.

Until ICO issuers register with the SEC, this crackdown will undoubtedly continue. Since most of these tokens also trade on secondary markets that are outside the purview of the SEC, it will be quite interesting to watch how widely this “spree” of subpoenas can reach. It is evident that ICO issuers will need to step up their game and register with the SEC. So far, the entire industry seems a bit slow on the uptake in this regard.

It will also be interesting to see what the future holds for the ICO industry as a whole. Regulatory action against this business model is a positive decision overall, even though it may cause some short-term friction. Whether or not any further legal action will be taken remains to be seen. Anything is possible right now, and it depends on what information the SEC uncovers in the next few days and weeks.

Even though mining cryptocurrency through internet browsers is somewhat of a controversial practice, some companies are trying to turn it into a legitimate business. CryptoTab is one such project. There are some concerns over what this project has to offer, though, as it seemingly requires users to refer people before getting paid.

CryptoTab is Intriguing yet Worrisome

It is always good to see companies trying to turn a negative development into something positive. CryptoTab is trying to bring some positive attention to the in-browser mining industry. Given all of the negative attention this industry has received as of late, it is only normal that people would be hesitant when ventures like these come around. Skepticism is a good thing in the cryptocurrency industry, for obvious reasons.

The objective of CryptoTab is to let users mine Bitcoin in their Chrome browser. Although this sounds like a convenient solution, everyone will agree mining Bitcoin with a regular CPU will not earn you any decent amount of money. That has been the case for some time now, as most users will earn fractional amounts of BTC at best. We are talking about Satoshi here, which means the smallest unit of a Bitcoin, eight digits behind the decimal.

Even so, there will always be people who think this is a worthwhile venture. All they’ll have to do is let the Chrome browser run on their computer while the device is on. To these people, it will sound as if they are generating Bitcoin for free, even though that is not really the case. That’s because their computers will consume a bit more electricity than they otherwise would. This extra cost might not even be offset by the amount of Bitcoin that users will earn using this service.

While the CryptoTab business model appears to be perfectly legitimate, it does appear users will need to invite others before they can actually receive any money. With a ten-level referral program, it seems most of people’s earnings will come from the people they refer. However, as users are not actively investing any money, they will still be paid a small percentage of other people’s earnings. This business model will raise a lot of questions.

According to the website, the team is running their own Bitcoin mining operation as of right now. As more people start using the Chrome plugin, the operation will supposedly become a lot more efficient, and users will be paid in exchange for referring friends. It’s an intriguing business model, although it remains to be seen how long it remains manageable. After all, there is only so much money to go around, yet new users may continue to sign up for this service over time.

Based on the calculator provided on the website, refusing to invite people will result in earning $0. That can’t be completely correct, yet it would also make some sense. At the same time, it would not explain why anyone would ever mine Bitcoin using this plugin to begin with, as there is seemingly no way to make money without inviting others. Since it doesn’t cost money to use, that shouldn’t be much of a problem, but that won’t necessarily make CryptoTab more appealing. It’s an interesting service to keep an eye on, but it’s one that may need to clarify a few things in terms of how money is earned.

Most of the world’s cryptocurrencies are decentralized in many ways. This is especially true when it comes to nodes and other entities which help protect networks. In the case of NEO, it seems one of its remaining points of failure caused a few issues last night.

NEO’s Network was Halted Thanks to one Node

It is always interesting to see how network nodes perform. As most networks have dozens if not hundreds or thousands of nodes, there should – in theory – never be any central point of failure. In the real world, however, that is not always the case. Virtually every currency has some form of node centralization problem, although it hardly ever causes any major issues.

In the case of NEO, that situation has been a bit different over the past few months. Most recently, the network came to a halt due to one of the network nodes crashing. More specifically, one of the consensus nodes was disconnected during the consensus process itself. Consequently, all the remaining nodes were waiting indefinitely for a reaction from this node.

Even after restarting the node in question, it did not become part of the consensus that was pending. This caused a delay of several hours until the NEO network started moving along again. It was a matter of restarting all nodes through a “forced changeview”, which shows how much centralized control there still is with NEO. This has been a known problem for some time now, although the team is actively working on further decentralizing this ecosystem as we speak.

It is evident this most recent issue has caused a lot of problems for NEO users. Unfortunately, there is very little to be done when things like this happen, as it is up to the developers to address these problems when they arise. There is nothing individual users can do, as the network’s consensus nodes are not operated by the users themselves as of right now. This will be addressed in the future, especially once KPN launches its network node for this ecosystem.

The fact that a single node can cripple the NEO ecosystem is not something most people will feel comfortable with whatsoever. However, everyone who does their homework before investing in cryptocurrencies will know NEO is far more centralized than most other cryptocurrencies out there. This is done by design until the network comes to fruition, at which point NEO will become highly decentralized, just like virtually any other cryptocurrency in the market.

A single point of failure is unacceptable in any blockchain system. Whether it is a consensus node, a mining pool, or another service which provides valuable services, centralization should never be present. Even Bitcoin does not escape this problem, although its centralization problem mainly involves mining pools all being located in the same countries. Additionally, a lot of Bitcoin network nodes are hosted on three major servers, which is anything but ideal.

Coinbase is one of the largest cryptocurrency exchanges in the world. However, it is also a target of lawsuits these days. Some users of the platform have filed an official complaint regarding the company’s alleged “insider trading” of Bitcoin Cash. Whether or not there is any truth to such claims remains to be determined, though.

Another Coinbase Lawsuit Materializes

It is not the first time Coinbase has faced a major lawsuit. The previous legal action was part of its ongoing spat with the IRS, which eventually ended in a win for the government agency, albeit in a limited fashion. This latest lawsuit, however, may prove to be a lot more damaging for the company. Allegations regarding insider trading associated with the listing of Bitcoin Cash is not something to be brushed aside.

Although it remains to be seen how much truth there is to these claims, the lawsuit paints an interesting picture. It claims that company employees and a few other “insiders” reaped major profits from knowing Bitcoin Cash trading would be going live on the Coinbase platform. Considering that this information was not shared with the public initially, it is evident there are a lot of questions to be answered by the company.

With these insiders driving up the Bitcoin Cash price, they may also be partially responsible for the halting of BCH trading on the platform in the few hours after the trading pair went live. As most people will recall, the Bitcoin Cash value spiked on the exchange by over 200% in mere minutes after the launch of trading. This caused a lot of confusion and friction among users.

Even though Coinbase halted all BCH trading at that time, the lawsuit claims that some users were forced to pay artificially inflated prices which were manipulated to be well beyond the actual BCH value at the time. It’s an interesting statement, although it will be virtually impossible to confirm. It is true some people purchased BCH at several thousands of dollars over the actual market price, but whether or not this is Coinbase’s fault is a different matter altogether.

It seems the lawsuit in question was filed by Green & Noblin, a firm located in California. They are joined by the Grant Law Firm in New York. Surprisingly, the person responsible for filing this lawsuit is a resident of Arizona who was personally affected by the Bitcoin Cash trading debacle. Jeffrey Berk claims his buy order was processed at twice the value at which he’d originally submitted it. It’s a very troublesome development if true, yet it remains to be seen how much truth there is to this statement.

It is interesting that this lawsuit alleges insider trading, even though it remains to be seen if this is something Coinbase should be worried about. There is also a reference to California’s Unfair Competition Law and common law negligence, which is significant in light of the current lack of cryptocurrency regulation. It is certainly possible things will not work out in favor of Berk, but it is too early to draw any conclusions on this front.

Financial markets are undergoing a lot of innovation as we speak, and it is evident blockchain technology is of great interest. Genesis Vision is working on bridging the gap between both of these industries. Its main focus is on providing a blockchain-based platform for the private trust management market.  

What is Genesis Vision Exactly?

From glancing over its website, it becomes apparent that Genesis Vision is a rather interesting venture. It combines exchanges, investors, traders, and brokers in a decentralized and honest network. This will help make financial markets more globally appealing and accessible, a change everyone will appreciate for different reasons. Moreover, it seems this project is completely certified, which will make it a lot more appealing to industry experts.

How Does it all Work?

It sounds rather far-fetched to expect a team to bring brokers, traders, and exchanges together in a positive manner. While everyone in this industry can benefit from a more global approach to financial markets, providing it in a decentralized manner will not be all that easy. Genesis Vision will build a brand-new interface which appeals to investors, managers, and brokers alike. It will use both blockchain technology and smart contracts. 

When Genesis Vision comes to market, it will become possible for users to build their own personalized investment strategies. That is something a lot of people will benefit from. It will be equally possible to select a specific strategy offered by brokers and investors through this platform. A fair few of these strategies will be AI-based, which means they should become more efficient over time.

Additionally, users will no longer be tied to specific brokers for extended periods of time, which is another welcome change. Each manager will have his or her own “currency” which can be bought by people who are looking to invest in specific strategies. As each manager’s strategies prove to be successful, the amount of tokens issued to them will increase. It is a very different take on traditional investing, but it will certainly find its market in the future.

The GVT Token Explained

It is evident Genesis Vision was built with its own token in mind, which goes by the name of GVT. Users will have a need for this token if they wish to partake in any investment operations and profit distributions. It is expected that the demand for GVT will increase over time as the active client base increases. The number of GVT tokens will be limited until the demand for this token increases.

The Road Ahead

There is still plenty of work to be done before Genesis Vision enters the global market. For the time being, its team is working on rolling out the alpha version of their blockchain platform. Integration with MetaTrader 3 and 4 is also underway. An alpha version of the client application will occur later this year, although no specific details have been presented at this time. In 2019, the “official” release of Genesis Vision’s blockchain platform should occur, by which time stock exchange integration will have been completed.

Cryptocurrency markets always evolve in strange ways during the weekend. For some currencies, this also helps them break a negative spiral more often than not. In the case of the VeChain price, today’s trend is a sight for sore eyes. After a full week of value declines, the VeChain price has now rebounded to $4.77.

VeChain Price Notes Strong Momentum

It has not been the best of weeks for VeChain price speculators. Every minor attempt at a small value increase has been squashed immediately and the price was pushed further down as a result. As such, we have seen the VeChain price drop from $5.8 all the way down to $4.6 this week. It is not a positive trend for fans of this altcoin, especially because there is seemingly no real reason for this drop whatsoever.

There have been a few interesting peaks this week as well, though. The VeChain price hit $5.05 this week as well, although the momentum did not last long enough to make a big impact. When the day was over, the VeChain price dropped below $5 again and continued to struggle for any momentum in the two days after. Thankfully, all of that seems to be a thing of the past, at least for today.

With the current 6.83% increase in VeChain price, things are looking up once again. Holding on to these gains and improving upon them in the coming days, is a different matter altogether. While anything is possible in the cryptocurrency world,  this current uptick seems to be rather temporary in nature. That said, VEN notes strong gains over Bitcoin and Ethereum as well, which is something worth keeping an eye on over the coming days.

With just $42.78m in 24-hour trading volume, things are looking rather mediocre for VeChain as of right now. All cryptocurrencies suffer from very low trading volume right now – with a few obvious exceptions – but for VeChain, this is rather low. Then again, with all markets suffering from the same problem, there is no real reason to be overly concerned either. Even with this small volume, the VeChain price is still rising a bit, which is a positive sign overall.

As of right now, Binance is still the largest exchange in terms of VeChain trading volume. Their BTC and ETH markets combine for over 75% of all trades, indicating the rest of the world isn’t too bothered with this altcoin, for the time being. Huobi, in third place, generates just 7% of all trades. There are no fiat currency pairs for VeChain as of right now, although several exchanges provide USDT trading. neither of those markets makes any meaningful impact as of right now.

It is difficult to gauge what the future will bring for the VeChain price. So far, things are looking good, but the overall market momentum is still pretty bearish. On the other hand, we have seen a correction this week, thus things may effectively begin to improve from here on out. Only time will tell how this market evolves, but it is evident the Bitcoin dominance will not slow down anytime soon.

A Yandex study has revealed a growing interest of Kazakhstanis in crypto #NEWS

There have been multiple cryptocurrency ventures which have focused on the gaming sector. Most of those efforts have been rather unsuccessful so far. Enjin, on the other hand, may prove to be a valuable addition to the Minecraft ecosystem. The project positions itself as the smart cryptocurrency for gamers, which is quite ambitious.

What is Enjin all About?

Anyone who plays Minecraft may want to take a closer look at Enjin. Although it is a cryptocurrency-related project, the initiative is about more than just its native currency. It is an all-in-one website platform which can help build websites, forums, voice servers, donation stores, and so much more. With a strong focus on the gaming ecosystem, it could quickly become a powerful tool for Minecraft gamers in the future.

How Does it all Work?

The fact that Enjin provides all of the features it does is quite interesting, especially considering it mainly targets the Minecraft community. It offers a website builder for the community, and the built-in donation system will help fund servers for various groups of players. The entire CMS of this website builder is custom-tailored to Minecraft enthusiasts, which is pretty interesting.

It is also possible to simply create a website for a guild in any other game, mind you. While Minecraft is referenced a few times on Enjin’s site, it can easily be used for World of Warcraft, Star Citizen, and Final Fantasy guilds alike. For those looking to take things one step further, Enjin’s ecosystem also offers a clan website hosting service. This applies to both friendly competitions as well as eSports, which opens up a lot of exciting opportunities.

Already, Enjin has become pretty popular in the gaming community. Its website claims any site built on top of this platform will be instantly exposed to over 19 million gamers, which is rather appealing. With over 300,000 gaming communities hosted on this platform already, it is evident things will only get better from here on out.

Enjin Coin’s use Cases

No one will be surprised to find out Enjin has its own native currency, known as Enjin Coin. The big question is what this currency will be used for. Until major games decide to implement this currency, its use cases will be limited. It makes a lot of sense for developers to integrate this currency, though, as it will allow for true item ownership, building intrinsic value, and so forth. The big question is if and when major game developers will embrace this opportunity.

The Road Ahead for Enjin

Some interesting work is taking place behind the scenes on Enjin Coin. For now, the team is focusing on Efinity, which serves as a Lightning Network for gaming specifically. This will allow Enjin to be scaled to millions of users. Further down the line, we will see token bundles, non-fungible tokens, and more. Later this year, more and more developers will unveil products which incorporate the Enjin Coin currency, which is something to look forward to.

It’s undeniable that Blockchain, big data, and AI are great technologies that are catalyzing the process of innovation and introducing major changes in every industry. Of course, every technology comes with a certain degree of technical complexity and business implications but these innovations have the capacity to redesign the entire technological paradigm from scratch. Let’s look at it in details.

Disclosure: This is a Sponsored Article

Artificial Intelligence, Blockchain, and Big Data Technologies

Artificial Intelligence

Artificial Intelligence came in three waves. The first wave was the knowledge engineering software. The second wave was comprised of the machine learning with great success in pattern recognition in complex data. This resulted in the Natural Language Processing (NLP), a technology established due to the need for machines to understand and communicate with human beings in human language. A new market research shows that NLP market size in 2016 was estimated to be $7.63 billion and it’s expected to hit $16.07 billion by 2021, at a Compound Annual Growth Rate of 16.1%.

The third wave is termed as a major disruptor with the potential to explore Big Data, extract statistical patterns and generate novel algorithms that can be used to explain why these patterns exist.

AI-based bots and machine learning applications are becoming popular to aid in client services in different sectors. For instance, after the realization of AI bots, financial institutions have incorporated the AI solutions to create an updated technical support and customer assistance systems. AI is a hot topic right now, and the situation is not about to change in the near future.

Blockchain

Blockchain, on the other hand, provides a tamper-proof digital option whenever parties have competing interests. Blockchain represents a social revolution. Its main advantage is the ability to maintain secure data and transactions. When people decide to carry out a transaction in a transparent and mutually accessible manner, intermediaries are reduced, audibility improves, and the final result is improved trust and efficiency.

Although the technology is mainly concerned with virtual payments, it’s a center for safe transaction and transmitting of data, money, royalty fees, records, and a lot more. We are in a phase of high interest and massive investment in advanced development of the Blockchain technology. Soon, we will see a massive growth and distribution of this innovative technology.

Big Data

In the current times, we have to deal with large amounts of data, hence the need to collect, store, process, and transform it into valuable information. But how “Big” is Big Data? In 2016, the global datasphere was 16.1 zettabytes, according to IDC report. A recent prediction indicates that by 2025 the global datasphere is expected to grow to 163 zettabytes (about a trillion gigabytes). This can be shown in details from the figure below. This amount of data will provide a new way of interacting with users with a lot of business opportunities.

Fig 1.  Tremendous data growth

Data storage is the essential component a vast majority of institutions, so there is increased demand for processing solutions in Big Data. Big Data analytics further allows replacement of manual work with an improved software system hastening the process and reducing the chances of minor errors. In addition to this, Big Data handling tools have proven to be useful for a large group of people. Before then, data had to be collated manually by people into checkboxes or reporting databases, but these tools have made it possible to automatically structure the information to increase the amount of data that can be analyzed at a go.

On the other hand, big data has led to the existence of other technologies such as natural language processing, machine learning, and artificial intelligence. These are termed as cognitive systems. These technologies have helped turn data analysis techniques from an unusual practice into to an exercise filled with strategic decision-making processes. IDC estimates that by 2025, the amount of global data subject to data analysis will record a growth by a factor of 50 to 5.2ZB. Data analyzed by cognitive systems is expected to grow by a factor of 100 to 1.4ZB in 2025.

In 2018, these trends are about to get bigger and it’s not too late to dive in and understand what they have in store.

GraphGrail Ai – Innovative Platform of the future in AI, Blockchain, Big Data, and other Technologies

GraphGrail Ai is the world’s first and most sort artificial platform for blockchain built as the center for natural processing technologies and decentralized applications. Its mission is to create a strong Artificial Intelligence (AI) that is open to the masses and improved by developers from across the world.

It includes all the latest advancement in technologies such as artificial intelligence, the blockchain, and Big Data processing. They also present an excellent layout service of the universal designer of own language applications, the ecosystem of data markup, laboratory of artificial intelligence, and the marketplace of ready-made applications in the modern world. The main focus is the banking sector, digital, retail, security, biotech, law enforcement, and medicine as well as small business.

A Recognized Center for Solving Technological Problems with Blockchain System

Small and large businesses spend a huge portion of the money to pay employees who perform a simple task that could be automated using AI. Most of them have little knowledge about the benefits of using AI for automation of business processes.

GraphGrail Ai creates a friendly infrastructure for analysis of text data including collection, cleaning, data marking with the help of a language domain model, and testing up networks for different businesses (See figure below). This is greatly boosted by the blockchain technology system where all stages of work accompanied by data are recorded. The system automatically calculates the hash rate from the processed data and stored in the blockchain for each task on the platform. All these activities are done inevitably based on rating systems, the scope of work done, just to mention a few.

Fig 2.  GraphGrail Ai platform architecture

Thanks to the blockchain system, a decentralized marketplace for application is formed where tokens are issued for creation and improvement of language models. The technology is also created to enable fast development of Artificial Intelligence products thanks to data-savvy experts and a team of developers across the world. Integration of Blockchain in the platform will allow the community to access the system and use data for training an artificial neural network. The platform is the service provider for developers and anyone can earn from the sale of access to the API in this partnership.

Be Part of Blockchain and Tokens

The main reason for using blockchain and tokens is to benefit both the owner and the buyer. They act as the internal currency. With the token, a customer can access the system and make an order or receive a solution in form of software development of an application and mark up data for it.

Thanks to the procedure, users can monitor hashes to their blockchain and receive an appropriate reward for their work. The balance in demand and supply of Token on the platform is attained by setting flexible prices. The more complex the work on the markup of the data, the higher the reward given to the user on the platform.

To access the platform, a user or business needs to purchase 5,000 to 10,000 Tokens. This way, businesses will be able to use the Tokens to purchase internal platform services including collection, cleaning, data marking, testing a trained neural network. The more users in the system, the more orders will be placed in the application marketplace.

According to market research, GraphGrail Ai is estimated to reach at least 3% of the total NLP market share in the first year which is equivalent to $270 million out of the total $8 billion. So assuming the tokens circulation supply equals a maximum of 200 mln, to balance the tokens economy, the price of the token should be the average of NLP segment and token circulation supply (270/200 = $1.35). In case the company attains a small amount of market share, the token is expected to grow by a factor of 10 ( assuming one token is $0.1).

When participants learn to solve a platform using Artificial Intelligence, a neural network is recorded on the blockchain system and peers in other cities can access and use it. This will be available through a chat-bot that needs Tokens for users to access and record the request. The owner of the contract will receive a reward while the buyer will save time and profit from the deal. Without the blockchain system on the platform, it’s hard to accomplish these tasks.

For more information about the ICO visit https://en.graphgrail.com/