by Liam J Kelly
In the grand ecosystem of ICOs, DropDeck offers a solution to ranking fast-growing businesses as well as finding them funding in the quickest and most reliable way. Through their token, the Decentralized DropDeck (DDD), they hope to incentivize a decentralized ecosystem that supports the best new ideas and companies. The Token Generation Event, which is organized on top of the Ethereum blockchain, began on November 21, 2017.
Finding a Needle in the Haystack
One of the primary tasks for every venture capitalist, angel investor, and fundraising platform is sorting through the weak and impractical from the truly disruptive and quality projects. A few platforms have popped up to offer this service, but rarely do these companies break down rankings into verifiable components, nor do they provide a semblance of integrity.
Outside of that, the quality of data that many SME’s are using come from local partners and cannot be scaled for a global market. Certain international regulations prevent the exchange of critical data and thus prevent companies from reaching a broader audience.
Lastly, in a centralized system, users are at risk from cyber attacks, malfunctions in the platform, or simply slow product actualization due to data being siloed and in liquidity pools.
It is DropDeck’s ambition to make smoother this process and ultimately bring funding to the most innovative ideas. Using the Ethereum blockchain, not only are problems of centralization solved, but the advantages of smart contracts will also inspire better collaboration. DropDeck will ultimately render the supply chain from funding to finished product transparent, automated and cost-effective.
Creating an Incentivized Ecosystem
The primary way in which DropDeck will improve the current funding apparatus is by improving the quality of data used for rankings. The A.I. technology used for this end has already passed the first round of a four year IBM Watson A.I. XPRIZE competition and is supported by IBM’s and XPRIZE’s network of mentors.
The advantage of artificial intelligence, especially in regards to the collection of data, comes from the fact that this technology can be adjusted to create a continuous improvement of the quality of input data. DropDeck will incorporate as much data in these calculations as possible.
Although amassing large quantities of data is nothing new, DropDeck’s means of evaluating the quality of data certainly will be. The issuance of the DDD token on the Ethereum blockchain will strengthen an incentivized ecosystem to “to streamline funding at scale (with instant cross-border payments enshrining transparency) [and] disrupt lending (with forced liquidation, monitored spending, crypto-credit history, etc.).”
From here, the funding chain of command is strengthened by making it in everyone’s best interest to contribute quality data at every level. And as more users contribute data that supports the ecosystem, the collaborative effects of artificial intelligence will only make the process better.
The Token Sale
The Token Generation Event (TGE) began on November 21 and will conclude on December 31, 2017. DDD tokens can only be exchanged for bitcoin and ether contributions, which will be used to serve research and development (55 percent), Marketing (20 percent), legal expenses (10 percent), operations (10 percent), and a buffer (five percent).
The TGE will be soft-capped at 15,000 ether, and 50 percent of all the tokens are to be sold during the TGE. A discount will be offered to early buyers on a sliding scale. Within the second week of purchase, one ether will equate to 12,000 DDD, in the third week 11,000 DDD, and the bonus will end in the fourth week. DropDeck has set a hard cap of 50,000 ether.
For more information about the experienced team and the A.I. XPRIZE mentors supporting the project, please visit https://dropdeck.io/.