A chain of intelligent bots. What idea could be smarter?

For the sci-fi fanatics of the 1990’s this is more than great news! Distributed cloud computing is actually the realization of AI (Artificial Intelligence)

What is Neurochain?

It is a project from France. They set out to use artificial intelligence to manage certain aspects of the blockchain. They will use machine learning algorithms in order to execute tasks on the blockchain. This is expected to improve coordination and reduce latency among global nodes, since bots can coordinate among themselves and make decisions.

Although these decisions seem simple enough and are already being done on the blockchain, they aim to make future sophisticated tasks much easier since bots can basically share their intelligence, enhancing the overall efficiency of the system. It seems, at least, for me, the future of cloud-computing technology.

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The Team

Frederic Goujon in the CEO. He has been managing a consulting company for a long time. Although I’m not that bullish about his profile, Dr. Billal Chouli, their CTO seems to be more potentially involved in the project based on his profile. He is a physics engineer. He has a doctorate degree in nuclear physics. His profile is really interesting and he seems to be accomplished in the field of nuclear physics, although many would say that his degree is not related to blockchain.

I mean, is only computer science or programming the degree related to blockchain? Project managers don’t need to write code, so they don’t need to be that technical on the network side. He is also a scientific collaborator at various institutions including Oxford.

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Bruno Delahaye is the CMO - Founding Partner. He had worked for a long time at Dassault Systemes, a reputable company, as the Vice President for Marketing Transformations and Operations, before starting with Neurochain, so he is full-time on the project.

Rogier Van Der Wal, their sales advisor and Dr Patrice Guichard, their security advisor also have interesting profiles. The rest of the team and advisers are also highly-experienced in their specializations, so I would say this is an all-star team.

Token Data

The ICO will result in the immediate forging of 15% for Investors and 3% for the Founding Team and advisors. Post ICO: all remaining tokens are forged to operate the NeuroChain, 70% for Elected Bots, 3% for the Foundation, 2% for the Seed Fund and 7% for NeuroChain Management to be vested over 5 years to insure a continuous involvement.
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This is from the document they released in the beginning of March. The hard cap for this project is 30 million Euros which is very promising. They want to sell 395M NCC and the total supply will be 4.374B NCC.

These figures are not ideal since the post ICO supply will be less than 10% of the total supply but if the project will be tremendously successful and the tokens very useful, the total supply might turn out to be relatively small.

Some reviewers say that too much of the ICO funds is allocated to finance the project (which will be probably be sold for ETH slowly, controlling price spikes), but having long-term plans up to 2023 makes a statement. Artificial Intelligence has not only been fantasized on sci-fi but it’s been a reality.

All there is to be done is develop it and it seems to be more plausible with blockchain technology. AI on the blockchain may take just about that much time to develop and will definitely bleed a lot of money.

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Real-World Applications

They have presented many business applications across different fields including transportation, finance and architecture. This open-source project

Fields of application:
Finance: Digital KYC with automated updates
Energy: Solar energy distribution, storage and peer to peer sales
Traceability: Non OGM food traceability and producer benefit sharing
Infrastructure Management: Objective driven contracts with benefit sharing
Regulated Professions: Accounting, Auditing, Law enforcement with AI based proposals
Transportation: Intelligent context supply chain management
Human Resources: Dynamic research based on PII consensus
Institutions: Official records and information sharing
Certified Data Repository: Safe information storage secured by distributed agents
Smart IoT: Connected ecosystem with multi-layer machine learning empowered nodes

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Minimum Viable Product

Looking at their detailed road map, they have released their proof of concept last year and they have basically sophisticated plans for the future of the project. It’s far from being a first version or a prototype, but at least, they have presented a proof of concept. This approach seems logical since all they have to do is test the basic functions of the system using simpler code and they will probably have to scrap everything and start over since they will use another language (C++), in the next stage of product development.

By 2023, they expect to see a self-consistent, distributed system where the Bots demonstrate a form of autonomy. With a multi-star team backing this up, I can’t see any obvious point-of-failure on this project, at least for now.

Just like any new technology, there must always be room for setbacks and adjustments, so I won’t be surprised if there will be changes in these plans. Their MVP is currently available through github.

Another positive aspect of the project is meeting the French government to discuss the future of blockchain and icos in the country. Whilst there has been no official endorsement by the government of Neurochain, it does delineate a step in the right direction and also highlights the Teams ambition to be a leader in European blockchain initiatives.

A large part of the Neurochain vision is developing business applications on the network. This helps to close the gap between blockchain and its ability to serve the need of real world applications.

These dapps would contribute to building an ecosystem that encourages businesses to adapt to the blockchain by providing applications that are both advantageous and relevant to their operation. Thus, creating usage of the tokens on the network as these businesses would require NCC tokens to operate these applications.

Analogous with the 5 year roadmap, Neurochain plans to have their mainnet by January 2019. This means the fundamentals of their bot applications and ecosystem will begin as early 2019. It also means that's dapps can be developed and accessed at this time to begin the functionality of the Neurochain system.

It’s up to you if you will invest in this project. I’m not your financial advisor, but I have shared with you a summary of the reasons why I’m bullish on this project.

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