Quadrant Protocol Maps The Data Universe (SWOT Analysis)
Quadrant is a blockchain-based protocol that will allow value-added data products to be accessed, created and distributed to end users. All data will be verifiably authentic and its origins will be completely traceable via the blockchain.
This article is a SWOT analysis of Quadrant Protocol, for a full overview see my previous article here.
Quadrant Protocol has multiple strengths that differentiate it from the competition. The choice to create a data protocol rather than a data exchange provides Quadrant with a larger user base. The Quadrant Protocol will allow data providers to be rewarded for data.
When compared to many other blockchain based data projects Quadrant Protocol offers two unique data projects. The first product is what Quadrant calls a Constellation.
Constellations are groups of authenticated raw data. An example of a Constellation would be customer transaction information from a multiple pizza delivery chains.
Other data projects require users to purchase data sets individually but Quadrant utilizes a system of Data Vendors called Pioneers to combine these datasets into more valuable groupings.
The second data project that is unique to Quadrant is the most valuable of all. These datasets are groupings of Constellations called Mega-Constellations.
Mega-Constellations are value-added datasets. The value is added by data scientists or data analysis firms that are called Elons in the ecosystem.
Elons take raw data from multiple constellations and find commonalities and prepare the data for the end user.
An additional strength of Quadrant is that the project was developed from a pre-existing data business named DataStreamX.
DataStreamX is the exact type of business that will use Quadrant and has become their first client. DataStreamX is currently transacting over 18 billion records per month.
The team is experienced and has been contributing to DataStreamX for many years which provides them with a cohesiveness that will allow them to build Quadrant quickly and effectively.
Having a team that is all coming from one source also creates some weakness. Since the team was working for DataStreamX which is a non-blockchain based data company the transition of these members to smart contracts and blockchain engineers may be a stretch.
The advisory panel and institutional investor base is very strong and can help cover some of the weaknesses. Dorjee Sun and the newly added Pavel Bains have both led successful blockchain startups in Santiment and Bluezelle.
The market for big data is enormous already and is expected to grow almost exponentially. In 2016 the big data industry was valued at over $131 billion.
All of this growth is happening without two of the largest data producers and consumers reaching their full potential. As IoT devices increase in number the amount of data produced will skyrocket and much of this data will be underutilized without a proper way to organize and exchange it.
Quadrant Protocol will provide IoT device owners a way to sell their data and be rewarded for its quality, quantity, and authenticity. The smart contracts behind Quadrant will ensure that all data providers (each IoT device) receive their fair share of rewards.
When discussing data consumption the future will belong to Artificial Intelligence. High-quality data that is intelligently prepared will be of high value to developers looking to train AI neural networks.
The largest threats to Quadrant Protocol are competition and adoption.
There are many competitors in the blockchain data market but most are offering simple marketplaces for the exchange of data and not providing the value-added service such as those conducted by Elons.
Other competitors are focusing on small niches of data like IoT devices or transaction data. By being a protocol Quadrant allows all of its competitors to utilize its framework.
Many of its competitors could build on top of the Quadrant ecosystem and cut months from their development timelines.
Secondly, Quadrant is relying on the continued growth of data products which appears to be almost guaranteed with the advancement of AI and IoT products.
However, it is possible that the industry may develop more slowly than anticipated or find off-chain data solutions.
Overall
Quadrant Protocol is a well thought out product that is entering a competitive field. Its competitive advantages include a working product partner, a protocol with value-added data products, and a data market that is increasing daily.
If the team can transition its experience to a blockchain based product (testnet has already launched) Quadrant Protocol will only have to focus on acquiring a strong and diverse user base.
For More Information
📅Token Sale Dates: June 26th, 2018
📈Token Ticker: eQuad
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Data is getting a lot of attention so I think this is the perfect time for companies like Quadrant.
Yeah, this might be the best of all the projects since in theory all of the other projects could build on top of Quadrant.
Quadrant Protocols ability to have necessary information with the extra layer of professional Verification stands it out from the crowd.
Simple things like knowing that your agricultural data came from an actual farm are a really big deal when the data is then used to make business decisions. Besides that Quadrant has Guardian Nodes (masternodes) and the value added data created by Elons.