AI’s application was first used to develop the Deep Blue system. And for the first time, human intelligence was officially defeated by machines and it was the world chess master at the time — Garry Kasparov. But this does not prove that AI can solve problems in real life and it was quickly forgotten.
As you all know, AI is an expensive area. It takes an tremendous amount of resources in the type of time, effort and especially money to collect, store and study the data as well as establish and develop the concept. That’s why only their project can make it possible to develope.
The purpose of the project is the creation of the ecosystems that require no fees, have no low barrier entry and still provide the users with fast growth
AI is an expensive area. It takes an tremendous amount of resources in the type of time, effort and especially money to collect, store and study the data as well as establish and develop the concept.
WHAT IS EFFECT.AI?
Effect.ai is designed to change the artificial intelligence market by create marketplace base on blockchain technology and powered by NEO. Here, you can request or perform tasks for the development of AI or exchange everything related to AI.
To make things easy and simple they divided into three different phases:
Phase 1: Effect Mechanical Turk: Effect allows anyone in the world to perform a wide range of tasks and receive fair payment. It will give AI developers and businesses access to a large workforce of human intelligence to train AI algorithms.
Phase 2: Effect Smart Market is a distributed AI market where people can provide and purchase AI services or learning algorithms or machine learning. An application owner, for example, can register his or her AI product and specify a price or usage fee for the consumer. AI products are available to anyone on the exchange through smart contracts.
Phase 3: Effect Power: Effect Power is the last stage, at which the power will be disbursed to start up deep learning frameworks and various AI techniques. That reduces the cost of running AI and makes AI around the world work unlimited.
ADVANCEMENT OF THE PROJECT
The developers of Effect propose working with blockchain protocol to ensure transparency and to decentralize the market of artificial intelligence and make entry more easy. Besides, that contributes to market growth and helps to reduce the cost of development. Smart contract that makes assests self-managed are used by Blockchain technology in the neo platform to digitize assests. Therefore, optimal distribution of finances is reached. NEO introduces a smart contract ecosystem like Ethereum and has its own tokens called “NEP5”. EFX utility token is also a part of this protocol – it’s used within platform’s environment.
TokenSale Information
Token Sale: 24 Mar- 24 Apr
Ticker: EFX
Token type: NEO BLOCKCHAIN
Fundraising Goal: 18,100,000 USD (14,820,000 EURO)
Total tokens: 650,000,000
Available for Token sale: 40%
Bonus for the first: 10% for the first 5,200,000 tokens (2% of ICO)
Accepts: NEO, GAS
About Effect Team
Chris Dawe, CEO Jesse Eisses, Laurens Verspeek (Director of Development) and Nick Vogel (Design and Interact). Dawes is an expert in business systems management and operations and has 18 years experience as a project manager and entrepreneur.
Chris Dawe, CEO — Chris graduated from the University of Toronto in 2006 with a degree in Business Management/Marketing.
MY CONCLUSION: Effect AI has a relatively low cap with low supply also, thy have made their first step by officially announcing listing on switcheo nep-5 dex exchange. This is a vey good move by the team in opening a decentralized ai system. If they work according to the roadmap, this should yield a good ROI if held for a year.
MORE INFORMATION ON EFFECT BELOW
Website: https://effect.ai/
Whitepaper: https://effect.ai/download/effect_lightpaper.pdf
Telegram: https://t.me/effectai
Twitter: https://twitter.com/effectaix
Medium: https://medium.com/@effectai
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