Intelligence; not only human, but artificial (thus demonstrated by machines) is running at an extremely fast pace.

Technological revolutions are here to make our lives easier and even if we do not always understand what AI is, or how it works, it is everywhere around us.

From understanding voice commands on our smartphone, to our car sensing how close we come to an object while parking, there are many cases that Artificial Intelligence serves millions of people daily.

Effect.Ai is a new Network based in the NEO Blockchain, aiming to transform the AI multi billion industry via Decentralization.

Introducing: The EFFECT Network

The Effect Network’s proposal is for a private and decentralized ecosystem for Artificial Intelligence. It will run in 3 phases, no fees will be required and it runs seamlessly on NEO Blockchain.

PHASE 1 – EFFECT MECHANICAL TURK

The first phase is about ‘on demand’ global workforce, where anyone in the world will be able to perform tasks and be paid in Effect Tokens.

Read more about Mechanical Turk

PHASE 2 – EFFECT SMART MARKET

This will be a place where everybody can offer as well buy Artificial Intelligence Services.
Read more about Smart Market

PHASE 3 - EFFECT POWER

The last phase brings the distribution of the needed computational power for deep learning and other algorithms.
Read more about Power

Frequently Asked Questions

Is an alpha nearby?

The Effect Networks plans to release the alpha right after the Phase One and the Beta will be released at the mid summer in 2018 (Q2)

Why was the NEO Blockchain preferred?

The high transactions per second (more than 1000tps/secondsource), the great community and the fact that there are no transaction fees, are the main reasons that the EFFECT was motivated to build on the NEO blockchain.

Will Effect, effectively build its own blockchain?

There are no such plans.

Is there an example in order for us to better understand the practical need for such a network?

Imagine Smart – Self Driving Cars^ref and the fact that they should be able to ‘read’ and identify the road signs.

In the first phase, the humans would help by classifying road signs information, and after having sufficient information to put to the AI algorithm, the AI used for the car would classify the road signs when encountered.

In the second phase, the algorithm developer will be able to put its product (the algorithm) to the market place and it can be sold to a company that will use it and pay it via EFX tokens.

In the third phase, as there will be more applications and algorithms to run the power (computational costs) will be distributed through the block chain.

*Note: At the moment this is centralized

Is there already an estimated token price?

Yes, at the time of the token sale (March 24) the price will be €0.057/$0.07USD

Will there be a token burn?

No, Tokens that will not be used for funding will be added to the Galaxy Pool and distributed among users and developers.

What is a Galaxy Pool?

The Galaxy Pool will be a trading place restricted to effect network users where it will be easier to buy or sell the EFX tokens.

After completion of the three phases, the AI will be fully decentralized powered by the EFX token.

When will the token sale take place?

The Effect.AI Token Sale will take place on March 24 at 11am CET! Feel free to watch the official date announcement video with Charlie Shrem:

Fair Share Distribution (FSD)

FSD takes the hard cap and divides it by the successful applicants of their white list. This will allow the users to have a fair shot for the token sale & Effect project.

The effect of this network will define the future relationship between humanity and AI.

About Effect.AI

Effect.AI is an Amsterdam-based project that is working on a decentralized network for Artificial Intelligence and AI related services on the NEO blockchain. Effect.AI's main objective is to build a platform that will stimulate AI development and the creation of various AI services. The platform will be more democratic, accessible and easy to use than what is currently available. A beta of the project's first phase, the Effect Mechanical Turk, is set for launch in the second quarter of 2018.
source

About NEO

NEO is a platform that uses blockchain technology and digital identity to digitize assets.
Through the use of smart contracts these digital assets can be self-managed. This establishes a Smart Economy on a distributed network. Hence, it’s a smart contracts ecosystem, similar to Ethereum. NEP5 tokens are tokens thate run on the NEO blockchain (for instance: RedPulse3 , Qlink 4 and DeepBrain Chain5). NEP5 describes the protocol that these tokens conform to.
The Effect.AI EFX utility token will conform to this protocol as well. source – Effect Lightpaper

More information

Make sure to read more about Effect.ai by following the links below

Medium
Effect.ai
Facebook.com/effectai
Twitter.com/effectaix
Github.com/effectai

Disclaimer: This article serves informational purposes and is no investment advise. It is part of the contest hosted by @originalworks and effect.ai
Thank you all for reading

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