Endor, the Coin Set to Revolutionise Predictive Analytics
The predictions business is one of the most lucrative activities right now. Unfortunately, the market is monopolized by a few big companies who can afford the expensive computing equipment required and hire the few data science experts available.
This is about to change. Endor wants to turn the industry on its head using a decentralised platform to make high-quality predictions accessible to everyone. The Tel Aviv based company bills its platform as the “Google for predictive analytics.”
Endor will crowdsource its computing power from millions of computers around the world for the job. For users, it will usher in a new era of democratised predictive analytics. Getting answers to some of the most complex questions like “what will be the price of bitcoin in 2025?” will be as easy as running the question on the Endor protocol. You can pay for the service using the Endor coin, its native digital currency.
The aim is to disrupt the AI and machine learning ecosystems which are all concentrated on a few hands and serve only a few.
The Problem with Predictive Analytics
Predictive analytics is a lucrative and high potential industry but only benefits a few moneyed corporations. Given the limited expertise and expensive computing equipment;
- Predictions are time-consuming and expensive
- Models used are often inefficient and inaccurate
- Predictions are largely out of reach of ordinary people
- Large volumes of data that can provide helpful insights remains largely unexploited
MIT’s Social Physics Technology
Endor is bringing on board MIT’s proprietary “social physics” technology to build automated engines that are cheap, efficient and accurate. Companies can then tap into this resource to get accurate answers to their questions. No data science expertise will be required. MIT’s social physics technology uses big data to predict human behaviour.
MIT is already providing predictive analytics services to companies such as Coca-Cola and Walmart on problems such as where to move stocks.
Human behaviour drives markets to a very big extent and predicting it accurately can yield high returns. For the emerging cryptocurrency market, it presents traders with an opportunity to make huge profits from trading.
The Endor protocol will, however, extend far beyond just trading. For companies both small and big, it is an opportunity to concentrate on crucial areas such as marketing and save on some valuable resources.
The more people join in, the more accurate the predictions and the cheaper it becomes to access services.
The practice of predictive analytics is usually to build a model around each question. The process can take anymore between two to six months with the most experienced teams. Endor’s approach is different. Instead is builds a social sphere from which millions of dynamics can be picked each time for each question.
Some of the major features of the Endor protocol include:
- Separation of data and engine providers allows for accurate, unbiased results
- The decentralised execution allows the protocol to pick unique behavioural clusters that may be relevant for other questions. The ability to continuously optimise this improves predictions over time.
- Endor protocol uses blockchain technology which means records are immutable. This solves concerns over manipulation with current methods
- Users can choose to have their data public or set it to private. Users who make their data public can earn Endor coins.
The date of the Endor Coin Sale has not yet been announced.
Endor coin has some of the leading lights in the data science industry including Prof Alex Sandy from MIT. He is among the seven foremost data scientists in the world. He has been teaching at MIT for over 30 years.
The social physics technology from MIT that will be integrated into the protocol adds a lot of credibility to the venture. Prof Sandy has launched a couple of other companies and projects involving AI and machine learning.
Other team members are well-accomplished professionals in their various fields. Endor advisors include personalities who have worked with Etsy, Apple, Pinterest, Salesforce etc. One of them is a former data scientist for LinkedIn and another from Intel.
That Endor has one of the most impressive teams is not an overstatement. Endor has a working product used by top companies and some high profile collaborations.
Endor is truly one of the most unique platforms building on blockchain technology. There is certainly a big need for predictive services in the market, a point that is well articulated by Endor. If it delivers a satisfactory product, it could turn a whole chapter in the industry.