It’s perhaps fair to say that one of the key features of blockchain technology is the way in which it is being used on a regular basis to help deal with data. This comes in different forms, and with the size of the data market continuing to grow on what feels like a daily basis, having another company come in with their own project should not pose too many problems.
Quadrant Protocol is a company that is looking at launching their own project, and it makes sense to try to determine the ways in which they are different from the norm. So, what can we expect from this project?
What is Quadrant Protocol?
The company states that they are offering a blockchain based solution for the creation, and launch, of both data products and services with a strong sense of authenticity at the very heart of the project. They talk about the way in which data economy is just in absolute chaos with things not even being mapped which just leads to so much disorganization that it will, in itself, create a substantial number of problems.
They claim to have the intention of helping to effectively organize the data market, and it will all be done in a decentralized manner while also making the process of using data significantly smoother than it is today. Furthermore, they accept that there is also an ever growing problem of individuals and companies that are unable to store their data effectively leading to a new range of issues that have to be resolved.
However, the main concern for the company is the way in which the data is not authenticated, so anybody seeking to access it is taking a chance that what they are going to receive will be of a poorer quality than they were expecting. Also, the data that they can obtain is often fragmented and the people behind this project see it as being due to the way in which the people that have the data are generally not given any incentive to make sure that the data is as accurate and true as possible.
Thanks to the data economy, there is a sense of things being unfair for both those supplying the data as well as those buying it. That is where this project comes into play, which is quite cool as long as they can deliver on their claims.
The Technical Aspect of Quadrant Protocol
What they are looking at trying to do is to create a blockchain based network protocol with the aim of providing space for people to use their setup as effectively a blueprint for the organizing of their data and data requirements. They plan on being able to map the data effectively to then provide users with the opportunity to identify areas where there are problems. The hope is that this then leads to the creation of new data products or services to fill those gaps.
To run the system, they have created their token which can then be used in a number of ways including collecting subscription payments for products or services as well as for putting information on the blockchain.
The Advantages of Quadrant Protocol
If the team behind the project is actually able to create a succinct product, then mapping data and having it more organized to such an extent that issues can be identified quickly is going to be a major step forward in the right direction. It should lead to new services or products being delivered since creators will know where the holes are within the industry and seek to fill them as quickly as possible. By creating this platform, it will vastly improve the data service which is just growing at a speed significantly faster than what the industry can cope with.
The Financial Aspect and the ICO
The company has stated that they will be producing 1 billion tokens for the project and during the ICO there will be an exchange rate of 1 eQUAD equating to $0.05. They have also included both a soft and hard cap for this part of their development with the soft cap being set at $3 million and the hard cap at $20 million.
During the ICO, they will be releasing 40% of the total number of tokens produced with those that have not sold then being burnt, which is the norm for this kind of thing. There are also several countries that will be blocked from taking part in the ICO with this including China, South Korea, the United States and New Zealand.
Overall Conclusion About Quadrant Protocol and the ICO
The new project is not offering something unique, but it is trying to tackle a well-known and prominent problem that has to be resolved in order for various industries to be able to move forward in a controlled manner. They are not merely seeking to make it easier to move data around but are trying to organize it to see where the problems lie. Also, by then allowing creators to develop those applications or services, it stands to reason Quadrant Protocol could eventually play quite a central role in the development of the data industry.
This is certainly taking a slightly different approach, and it is one that is going to be welcomed by the industry. From an investment point of view, this does have potential as long as they market things correctly after the ICO has concluded in order to draw in some big players in the development of the data industry.
There are certainly enough tokens, and the price is not too high on an individual basis making it easier to just dip your toes into the water and see how things progress. It may not take off at a record pace since its products can become quite complex to understand, but the long-term future of it is certainly looking quite bright. Ultimately, this should lead to investors making a profit on their initial stake just as long as they have some patience.
Check my post on Steemit: https://steemit.com/crypto/@dan90/quadrant-protocol-ico-review
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