The GNY Sidechain, Machine Learning Meets Lisk
The Lisk community keeps growing!
Just recently, the GNY team announced that their Lisk-powered sidechain is soon to come to life. The release date is expected to be during 2019. As written on their website, GNY is “the next generation of proven machine learning predictive platform for the blockchain”.
What does that mean?
The GNY project has been active since 2015, with the aim of organizing and analysing vast amounts of digital data to provide predictive, adaptive and responsive solutions to businesses.
Again. What does that mean?
GNY is a predictive machine-learning platform that is able to identify repeatable patterns and learning components that are constantly changing. It helps businesses to target users, trying to drive them to perform the desired action by predicting their behaviour. It does so by sailing in a sea of millions of different variables features. In addition, while doing so it keeps growing and improving, resulting in ever more accurate predictions.
GNY is not restricted to any type of organization, but can be useful for anyone who needs a predictive platform for his or her business. Depending on the size of your organization, GNY has two different business models. For small to mid-sized businesses, access to GNY is offered through APIs. For larger businesses, GNY offers full service consultation and – if necessary – custom app creation services; they provide everything from initial analysis to delivery of metrics and reporting.
It represents a huge improvement on the way segmentation has been traditionally executed, since it is able to evaluate 1000s data points to make predictions and then evaluating them in order to improve for future predictions. Examples of data indicators that GNY can use are: Facebook profile, age, time of the day, location etc..
As stated on their website, “what separates GNY and gives it a superior computational and predicative ability is a proprietary combination of three technologies: unique learning capacity, superior processing of market segments, and decentralized blockchain integration.”
The advantage of GNY is the ability to analyse data despite “enormous volume and complexity”, tracking the trends resulting from changes in human behaviour.
The machine-learning algorithm ensures a continuous improvement of the predictions, leveraging past communications’ experiences to improve for the next round of predictions. In addition, the platform is able to account for real-time changes and so can respond instantly.
SUPERIOR PROCESSING OF MARKET SEGMENTS
When deciding how to target customers or what would be the best channels for doing so, GNY is able to consider many more factors then possible for humans. Moreover, GNY goes beyond the normal limitations of segments, tailoring millions of e-mail to suit individual needs (e.g. providing “many variations in wording, product suggestions, timing, illustrations, pricing, etc.”)
DECENTRALIZED BLOCKCHAIN INTEGRATION
The GNY platform communicates securely with any blockchain, recording and maintaining consistent data and encouraging secure data sharing without weighting on the security of the chain. Therefore, GNY is able to build predictive models that are scalable and secure. The APIs allow developers to integrate easily.
The GNY project will be financed through an ICO, starting in September 2018. They will accept a range of four digital cryptocurrencies: Bitcoin, Ethereum, Asch and – obviously – Lisk. The GNY team has, in fact, being a delegate for the DPOS used by the platform, showing their committment in securing and contributing to the Lisk ecosystem.
Read the Technical Whitepaper here.
Lisk Magazine is a project supported by Lisk Italian Group.