25 Mar 2019
Artificial intelligence and blockchain are two of the most promising technologies which are bound to change the world as we know it. Naturally, a lot of emerging companies declare the intention to hybridize AI and blockchain to effectively address many crucial issues of today.
Unfortunately, in many cases, there is no substance behind bold statements with the concept of AI being used for creating marketing stunts.
Mindsync, the UK-based blockchain project with the core of its team composed of Russian developers and software engineers, took a different approach and set itself an aim of creating a unique ecosystem that integrates customers, investors, data scientists, AI & blockchain developers, and suppliers of vast amounts of computing power into the one coherent whole.
First of all, it should be noted that Mindsync will make an effort to encompass the market of artificial intelligence in its entirety thus crafting pioneer products for such areas as deep learning, natural language processing, machine learning, and computer vision.
The developers aren’t going to do it on their own accord - otherwise, it would have been a huge red flag for a critically thinking investor. Instead, Mindsync will construct a niche outsourcing platform for the complete production cycle of AI solutions that will operate on the basis of Ethereum blockchain and its smart contracts.
They have even conceptualized this idea and came up with the term AlaaS & Eaas, which stands for Artificial Intelligence-as-a-Service & Expert-as-a-Service that basically depicts the gist of Mindsync.
The specialists in the field of artificial intelligence, data scientists, developers of machine learning solutions, accompanied by validators, provide expert advice, develop a fully-fledged AI product as well as ML models and datasets for the customers who set the range of tasks and settle payments via start contracts.
The research and development work is carried conjointly by the community of developers from around the world who share the computing and mining power provided by partner suppliers in a cost-efficient way.
The end-products and services are subject to verification and quality check procedures that are conducted by specifically appointed validators hence forming the unbiased rating system. The hashes of all metadata generated by the expert comminity and provided by big data centers are transferred directly to the customers and also stored on the blockchain to ensure their integrity.
Mindsync introduces the ERC-20 utility token with the ticker symbol MAI that will serve as the primary mean of settlement and obtainment of access to different features of the platform. The total amount of MAI tokens are limited to 1 billion with half of that amount planned to be distributed to the public during ICO. The current price of one MAI token is estimated at $0.14. Mindsync assures that they are negotiating with several crypto exchanges regarding the subsequent listing of MAI, which means that this token will be tradeable.
Currently, Mindsync is in the midst of ICO which will end on April 1. The minimum investment is established at $100 which can be made in Bitcoin, Ethereum or Litecoin.
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