The generation of data is a constant and permanent situation that is happening at every moment, while millions of users surf the Internet. This generation of data has created one of the most valuable intangible assets, for which companies are willing to pay very well. But beyond these truths, there is a reality in terms of the intrinsic justice of the ownership of the data and its veracity in terms of the source and modes of obtaining, affecting even ethical aspects. All this has affected the health and transparency of the data economy, which has motivated the Quadrant team to develop their solution proposal in Blockchain.
Quadrant is defined as a blockchain protocol that allows the access, creation and distribution of data with authenticity of origin. Quadrant’s objectives include building an economy of data around the silos that large data companies such as Google and Facebook create, while reducing their duopoly power, addressing the problems of lack of transparency in the data industry, that lead to a large number of frauds, guarantee companies the due transparency in the data collection sources so that they obtain exactly the data they paid, and guarantee that all data providers within the value chain receive a adequate and fair compensation.
The Quadrant team believes that the data economy is similar to space; not mapped and chaotic. Through its blockchain protocol, Quadrant seeks to serve as the plan that will provide an organized system for the use of decentralized data in the global market. Quadrant will support the test of authenticity and origin of the data through the sealing of data, the creation of “constellations” (intelligent data contracts) for disparate data sources, and the fair remuneration and exchange of incentives for the actors of the ecosystem.
In the vision to benefit all stakeholders in the data economy ecosystem, Quadrant foresees that consumers can trust the authenticity of the data they buy, the “nurseries” (data producers) will receive fair compensation each time they are used your data, and the “pioneers” (data providers) can create innovative constellations. This new ecosystem guarantees that companies obtain the authentic information they need, and therefore, they guarantee quality of results.
Within its own terminology, Quadrant has a greater potential impact on the capacity it provides to “Elons” (the brightest data minds) to find links between different ecosystem constellations allowing them to create mega constellations that can be used by consumers of data to solve real-world problems. Promoting an own, decentralized and transparent ecosystem, Quadrant looks great with its natural competitors.
Explaining a little more what the actors will be within the Quadrant ecosystem of constellations, we can mention that the main participants are:
- Nurseries are data providers that create the original data records. These create stars, which can then be grouped into constellations.
- Constellations are smart contracts that map multiple data sources into a single data product. These data products are processed between the parties.
- The Pioneers are the entities that create data products with Smart Quadrant contracts.
- The Elons are the entities that create new and unique products and services. They are based on constellations and constellation plans to make sense of the data space through which they will travel.
- The Guardians are the master nodes that protect the integrity of the chain, ensuring that it is not compromised.
The native token of the ecosystem is the eQuad, an ERC20 standard token, which will serve as a functional token for all marketing, remuneration and incentive aspects. The referential value of this token will be $ 0.05 USD = 1 eQuad in the ICO that will be announced in a timely manner.
For more technical details about this ecosystem, we recommend reviewing its White paper, and to stay up-to-date with what the Quadrant ICO will be, we also recommend joining at their Telegram channel.