Interview with Synapse ICO Team
ICOnow: Can you briefly introduce us to the your project?
Synapse: Synapse AI is the first decentralized Data and AI marketplace. Rewarding people for contributing data to train machine learning models. These models can in turn be used to programmatically service the network participants.
ICOnow: How well does your team work together?
Synapse: Great. The founders have been working together for about 2 years. We tend to hire only hackers, so that’s our culture.
ICOnow: Which projects were implemented by your team or part of your team earlier?
Synapse: Baqqer, RadBots, Asteria
ICOnow: How long have you been working on this idea?
Synapse: This idea has been in the works for well over 2 years. It started out of another idea for a decentralized network for autonomous agents to interact and negotiate services, then evolved into a wearable AI device that performed sensor/data fusion and rewarded data acquisition with cryptocurrency.
ICOnow: What risks do you see for implementing the project?
Synapse: Gaining enough critical mass for the data to matter. We’ve got plenty of good strategies for on-boarding enough users to make this work.
ICOnow: What about competitors?
Synapse: Nobody with the exact vision, but a number of people offering components that are complimentary or overlap in some way.
ICOnow: Why do we need your tokens?
Synapse: Tokens are used to participate on the network, from reading/writing data, to writing contracts. Our token is the main vehicle of transaction on the network.
ICOnow: Where do you see the value of your tokens in the medium to long term and the ultimate benefit for token holders?
Synapse: Medium term there is inherent utility in our token for participating on our network.
Long term the token is the vehicle for building a global intelligence where all people, robots, and autonomous agents can participate and grow.
ICOnow: Have you secured deals with trading exchanges yet and will you want to disclose which exchanges will be trading your tokens?
Synapse: EtherDelta currently carries reference to our token, but disbursement hasn’t happened yet.
ICOnow: After a successful ICO, what is the timeline for coming to market?
Synapse: Our Marketplace should be live early spring 2018.
ICOnow: What about presale politics (dates, terms, discount)?
Synapse: Pre-sale is currently closed.
ICOnow: We point out four areas of business activity: marketing, technical, economic components, management. Who competently deals with these issues in your company?
Synapse: Marketing, management, and economic components are responsibilities of all our members but typically spread across the founders.
Technical is handled by engineering.
ICOnow: Are you focused in any specific geographic areas?
ICOnow: Do you already have a product or a prototype?
Synapse: Not available to the public.
ICOnow: Can you highlight the features that are unique to you project that sets it apart from similar projects in the space?
Synapse: Creating complementary services to the decentralized and distributed stack that is evolving is core to our vision.
ICOnow: Did you calculate the profitability of your business?
Synapse: The data marketplace alone is $120Billion per year.
ICOnow: Tell us a bit more about your revenue model?
Synapse: Fulfillment contracts get made, funds bonded, when nodes find local services that match fulfillment contracts, they deposit their data into a pool owned by the contract, then get paid by an oracle on confirmation of that data.