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Paxtradings Report: Synapse AI

//Paxtradings Report: Synapse AI

What is Synapse AI?

Synapse AI is building a global brain. We have created a decentralized AI network that anyone can participate in building. We create a marketplace around resources (such as data, machine learning models, etc), and give access to those resources to anyone or anything, like robots, vehicles, AI assistants, Internet of Things, and anything else that has any access to a network.

You can think of it as Amazon for resources that create a decentralized global AI brain by way of the economy participants help to create. Ultimately because the network allows anyone to build apps, and access the resources available, we can build a vibrant ecosystem where not only humans can provision services, but devices can provision super powers like vision classification, sentiment analysis, and where these agents can exponentially learn and grow together.

The more emergent feature is that AI bots and brains can now contract with one another, and by giving autonomy to these agents, we create a whole global autonomous logistics and supply chain that gives rise to new and undiscovered AI economies.

You can see a quick overview from my headlining keynote at the Decentralized AI summit:

– Dan Gailey, CEO

Paxtradings Quick Facts

  1. Decentralized Data and AI Marketplace
  2. 1 ETH = 12,000 SYN tokens
  3. Tier 2 ICO February 12th, 2018 — March 12th, 2018
  4. 330,000,000 total available / 1,000,000,000 total supply
  5. Over $7 million raised in Pre-ICO

Q&A with Dan Gailey, CEO

Paxtradings: How does the Synapse AI token (SYN) function within the platform and why is it needed?

Gailey: The SYN token is used as a method of transaction, bonding services, and staking participation. Each participant uses SYN to transact with any other participant or service on the network. Bonded services help guarantee good actors contributing services to the network such as Data, or Machine Learning models and beyond. Staked participation is a means by which participants support some necessary service (similar to a masternode).

What is your strategy for growing the user base? What is the context of the industry as a whole and who is the target audience?

Gailey: User base comes through several channels. Application use, integration into third party applications and services, and integration from devices. The context of Synapse AI and how it applies to the industry, is that Synapse will act as the data and intelligence layer powering whole industries. The target audience is anyone one or anything desiring to tap into data, AI, or a network of agents to help gain insight, make decisions, and grow.

Paxtradings: Are there other competitors in the space that Synapse AI is a part of?

Gailey: Synapse AI is the backbone for other services and verticals in the space. Just like Twilio we’ll be powering millions of products wanting to offer data and models intelligently through their offerings.

Paxtradings: What are some of the major companies that you think will benefit from your technology? Do you have any planned partnerships you would like to discuss?

Gailey: Genetics and Healthcare, Logistics and Supply chain, Personal AI assistants, Autonomous Vehicles, as well as existing siloed companies investing in data and machine learning models for recommendations, classification, predictive modeling, and more.

We have a ton of partnerships in the works, and we’ll be announcing them shortly.

Paxtradings: Imagining your machine learning analysis engine aggregating large sets of data is an exciting idea. Can you elaborate on how SYN’s engine is unique compared to another blockchain system?

Gailey: The Synapse Network allows anyone to participate, meaning we can optimize globally to find the best and most robust models for a particular job. Having a decentralized network also unlocks the possibilities of distributed model processing, where you could have the entire internet and every node (phone, computer, laptop, device) processing some part of the data and harnessing massive amounts of power. This defeats any one particular company’s efforts alone.

Paxtradings: Is there any concern with the lack of scalability that the Ethereum network has? If the project encounters transaction speed issues, would the team be open to moving to another blockchain?

Gailey: We’re approaching this with very graduated and phased launches when considering what capabilities the underlying architecture can provide. If there comes a time when we’ve outgrown a network we would consider moving, or most likely building out our own whole new network.

Paxtradings: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?

Gailey: The marketplace is finished, we’re building out the wallet/dapp ecosystem experience, and next up is frameworks, and ecosystem integrations and libraries. We have two launches coming up: The developer portal, and the developer fund.

The Developer Portal will be the one stop for developers to find our libraries, bounties, and how they can participate in working on the codebase.

The Developer Fund is a venture fund that will go to fund complementary products and services, open source software projects, and hardware development that supports the ecosystem and furthers the vision of ambient artificial intelligence, machine learning, and democratized access to participate in these services.

You can find out more about our Developer programs here: https://synapse.ai/developers

Paxtradings: As a non-Synapse AI question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Gailey: ICOs will continue to be prevalent, as it opens up new capital generation events and offer liquidity for startups and new access to a global audience — giving opportunity to a new world-wide stage.

Cryptocurrency will continue to be an electronic representation of some asset or store of value, and the technology itself (including the blockchain and other protocols) will continue to evolve to explore and find new optimizations where this technology can be applied to make a difference.

We’ll see crypto and its underlying technology play host to power new economies and a new generation of applications, interfaces, and experiences.

I talk about some of this in my latest blog post: “An Ocean of Tokens” https://blog.synapse.ai/an-ocean-of-tokens-abf976418feb

ICO Information
Tier 2 ICO begun on February 12th, 2018 and will end on March 12th, 2018. There are a total of 45,000,000 Synapse AI tokens (SYN) available during the Tier 2 ICO, representing 4.5% of the total SYN supply. A hard cap of $15,000,000 is set for this period.

1 ETH = 12,000 SYN token

Current accepted currencies for Synapse AI include ETH and BTC.

Synapse AI is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract, and to receive the Synapse AI tokens.

Token Distribution Information
There are a total 1,000,000,000 SYN tokens being created, with 330,000,000 available during the ICO.

Contributors will have their tokens distributed 60 days after the end of the public auction. Visit the Synapse AI website for more information and the contribution address.

Allocation
A total of 1,000,000,000 tokens will be generated. One-third of those will be for sale. One-third will go towards a developer fund to help kickstart the ecosystem. And one-third will be assets the company holds.

Roadmap

Team

2018-02-24T02:23:39+00:00 February 22nd, 2018|Categories: ICOs|

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