Overview

Effect.AI introduces an open, decentralized network that provides services in the Artificial Intelligence market. 

Project stage

Only a whitepaper

Detailed description

The Effect Network is designed to provide a feature complete alternative to services like Amazon Mechanical Turk, Fiverr, OneSpace and Guru.com. It will operate fully on smart contracts deployed on the NEO blockchain. The Effect Network, like other decentralized applications, directly connects supply and demand without the need for an intermediary party. To be more specific, The Effect Work will establish the following: 

  • Accessibility - by directly linking supply and demand through our micro-tasking platform Effect Force we enable users who do not have access to large datasets or a big network to train their AI algorithm. 
  • Accuracy - the Effect Smart Market enables users and individual applications to find each other to buy or sell information. Through this exchange, users can get their hands on data sets with significantly higher complexities to train their AIs. 
  • Performance - Users can directly buy existing data sets on the Smart Market or quickly create their own data set by requesting micro-tasks on the Effect Force platform. 
  • Interoperability - By running AI on the blockchain and creating a standard to which algorithms have to comply, we stimulate interoperability resulting in powerful and emergent intelligence that would be difficult to achieve for single AI algorithms.

Problem

The Artificial Intelligence market is growing at a remarkable rate, but it’s becoming less accessible with each passing moment. Large corporations, like Google, Facebook and Amazon are pioneers when it comes to AI development, but they have also driven much of the innovation behind closed doors.

  • Intelligent applications perform tasks that traditionally require human feedback. Such tasks involve processing unstructured data and finding patterns that can provide useful output. These applications are trained on large datasets with annotations. Obtaining an annotated dataset is non-trivial and requires a lot of time and money.
  • An obstacle when developing a complex algorithm is the need to interact with parts of the world outside the current domain. For example: a self-driving car learning to steer will also need to identify road signs around the world. This situation can best be treated as a knowledge system where the classification of the sign is done by an external application. This quickly increases the amount of work needed.
  • Developing and training a large AI is a computational intensive task, and requires a technical infrastructure capable of processing terabytes of data, doing batched processing on multiple GPUs and coordinating the results.

Solution

Effect.AI proposes a solution by creating an open, decentralized network that provides most, if not all of the services required for a healthy and accessible Artificial Intelligence market. This project is called The Effect Network. This network will replace several existing services in the current AI market. It requires no commissions, has a low barrier to entry and provides fast growth to its users. Effect.AI aims to accomplish this by deploying the project in three phases. These are:

Features

The 3 phases of The Effect Network require no fees, have a low barrier of entry and provide growth to its users. It runs on the NEO blockchain and is fueled by a network NEP-5 token: 

1) Effect Mechanical Turk is a workforce on demand that allows to request or perform tasks that teach and develop AI algorithms. 

2) The Effect Smart Market is a decentralized exchange where people can offer and buy AI/ML services and algorithms. 

3) In the last phase the computational power is distributed needed to run deep learning frameworks and other AI algorithms.

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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : EFX
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 14,820,000 EUR
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :NEO (NEP-5)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :4,280,000 EUR
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :650,000,000 EFX
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :GAS, NEO,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Bosnia and Herzegovina, China, Ethiopia, Iran, Iraq, North Korea, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, USA, Vanuatu, Yemen,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    14-20 days after token sale

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Future Token Sale (September 2019): Will be locked by a smart contract for 18 months.
          • Effect.AI Team: Automatically locked for 24 months by smart contract.
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Token Sale — Ended
      24 Mar 10:00 UTC
      28 Mar 14:00 UTC
      0.0057 EUR 10% 50 EUR - 1200 EUR 4,280,000 EUR 14,820,000 EUR
      Token Sale

      Bonus Stage 1: 10% (Fair Share Distribution)

      Bonus Stage 2: 10% (For the first 2% of tokens)

      Read more about vesting and bonus
      • Team

        • Chris Dawe photo
          Chris Dawe
          CEO
        • Jesse Eisses photo
          Jesse Eisses
          CTO
        • Laurens Verspeek photo
          Laurens Verspeek
          Chief Architect
        • Pieter Huige photo
          Pieter Huige
          COO
        • Nick Vogel photo
          Nick Vogel
          CCO
        • Sjoerd Dijkstra photo
          Sjoerd Dijkstra
          Software Developer & AI Specialist
        • Nico Curylo photo
          Nico Curylo
          Software Developer
        • Terry Bommels photo
          Terry Bommels
          Software Developer
        • Polina Boykova photo
          Polina Boykova
          Social Media Manager
        • Casper Wattimena photo
          Casper Wattimena
          Online Marketing Manager
        • Dimitra Kassari photo
          Dimitra Kassari
          Project Manager
        • Sara Verhoef photo
          Sara Verhoef
          Senior Office Manager
        • Ismail Kocadag photo
          Ismail Kocadag
          Financial Controller
        • Roelf Kromhout photo
          Roelf Kromhout
          Copywriter
        • JJ Melkert photo
          JJ Melkert
          Video Producer
      • Advisors

        • Charlie Shrem
          Advisor
        • Tony Tran
          Advisor
        • Sally Eaves
          Advisor
        • Steven Deurloo
          Advisor

      Roadmap

      • Q1 2017

        Start of EFFECT.AI

      • Q3 2017
        • Whitepaper released
        • First meeting with NEO in Shanghai
      • Q3 2017 - Q1 2018

        Community building & platform development

      • Q1 2018

        Token crowdsale

      • Q2 2018
        • Supernova (Galaxy Pool Creation)
        • EFFECT M-Turk (Beta on NEO)
      • Q1 2019

        EFFECT Smart Market (Platform release)

      • Q4 2019

        EFFECT Power (Framework release)

      Activity