JoyToken: Opening up the Relationship Between Casino Players and Game Developers

JoyToken is a new crypto token with one main aim – disrupt the current gambling industry. Now some of our readers might make an immediate leap between gambling and cryptocurrency. After all, countries like the US strictly regulate an industry like gambling, so cryptocurrency seems like a natural fit for the industry to bypass some regulation. Perhaps JoyToken is created with that aim? The answer is No.

Instead, JoyToken has taken the approach of being completely legally compliant with all applicable laws, based out of the UK. However, the project is aimed more towards disrupting the traditional structure of the entire gambling industry itself, instead of a simple token for payment mechanism.

JoyToken creates an entire ecosystem around its token, but if we have to pick one USP for the JoyToken ecosystem, it is the untethering (no pun intended for the non-fiat-backed Tether) of the game developers from the large casinos. In a nutshell, JoyToken is created so that independent developers can build a relationship directly with the players/gamblers, instead of going through a casino operator.

Why is this important? Well, for several reasons. Game developers for the casino industry are the talent that make the entire industry work. This makes them valuable to the casino operators in general. However, due to the regulatory burdens and the inability of the industry to free this talent, it becomes really difficult for the game developers to venture out on their own.

Due to these barriers, the game developers don’t innovate as much. If they cannot reap the benefits of their work besides a salary, why bother? This means stagnant innovation and competition only among the largest casino operators instead of it being a more holistic community driven effort. After all, if the players want to see more exciting games and are literally willing to put their money where their mouth is, what’s the point in restricting this choice from the developer point of view?

That’s what JoyToken wants to do. It is creating an ecosystem where independent individual game developers can work not just for the large casinos but for the end casino players that they serve. This improves competition and innovation and is generally good for the entire gambling ecosystem. The game developers also now have alternatives to the traditional path which is to go work for one of the few large operators. They can instead unleash their entrepreneurial spirits instead.

The big cover that the JoyToken ecosystem provides for the developers is a legal and regulatory umbrella so they don’t need to worry about laws and regulations and instead focus just on creating the best games they can build. This is very important because JoyToken is a fully licensed business and is helping improve the whole gambling industry instead of trying to do things under the radar.

The platform also allows developers to share in the risk-return that’s associated with highly popular games. This means developers have a direct incentive to work to create the best product that the industry craves. This helps their own bottom line, after all.

JoyToken thus helps game developers get a more direct stake in the ecosystem and get a more direct stake of what they create.

If you’re interested to learn more, check out their website and also their whitepaper.

Photo Credit: jetglo

Repux Token: Combining Blockchains with AI Data

Repux Token Data

We are generally interested in projects that spawn across multiple technology trends. We’ve previously written about combining blockchains with green energy, for example. Or take the example of the convergence between blockchain and autonomous vehicles. In our view, these are powerful trends that combine multiple technologies of the future, to gain leverage over how things unfold. Combining multiple such technologies helps accelerate the progression of both.

Today, we want to talk about another such combination – combining blockchain with AI (Artificial Intelligence) and ML (Machine Learning). This is what the project Repux is doing.

All About the Data

To truly understand the Repux project, you first need to know what it is trying to accomplish and how it fits into the existing AI frameworks. At the core of any AI system is data. Lots and lots of data. That’s how the machine learning algorithms ‘learn’ – from the data fed to them. Therefore, data becomes a valuable commodity to these AI systems.

This is why it is so hard, for example, to compete with Facebook. It is not just the traditional ‘network effects’ i.e. you are on Facebook because all your friends are on Facebook. It is even more about the amount of data that Facebook has been collecting to make its experience ‘better’, i.e. more sticky to the user. This is how the next generation of technology and internet companies are being built. Between Facebook and Google, you’re already talking about over $1 trillion of market capitalization, and that’s just scratching the surface of the AI niche.

Repux Token and Data Markets

Now that you understand how central data is to the new and emerging AI revolution, let’s look at what Repux is trying to do.

The biggest problem with AI is that it is a fairly specialized field, and requires a ton of data. Smaller firms therefore are at a considerable disadvantage, because they are small and therefore cannot collect as much data as large enterprises. This provides a huge benefit to the incumbents, since they have more data, and are getting more data every day. Therefore, in order to compete, small but nimble firms require to buy a lot of data and data sets from outside, instead of trying to build it all in-house.

That’s where Repux comes in. Repux is a marketplace for data – firms can go there and buy the data sets that they need to create their machine learning algorithms and train them appropriately. The owners of this data, who may not have the expertise in-house or may not know what to do with the data, or just want to share the data and make money off of it, are all potential data sellers.

It is also possible that the data provider sells data on the Repux platform to data scientists, who then build their machine learning models using that data, and sell the models back to the original data providers. This way, companies that are not usually heavy on the tech side and cannot afford to hire AI experts, who are usually hard to come by, can do one-off machine learning models from these experts based on their data.

Here are some examples of how Repux is being used, for example, from their own site:

If you’re interested further in the project, read the whitepaper. Also, check out the main site for more information.

Photo Credit: caseorganic

RED Token: An Existing Energy Company Goes Blockchain

We previously wrote about the idea of using an energy backed crypto token.  It is one of those ideas that take the idea of crypto beyond just the ‘virtual’ world and into the ‘real’ world. In addition, the idea of an energy backed crypto is appealing. It provides the advantages of a blockchain – an open, incorruptible ledger, combined with a token that’s backed by something that is useful in the real world – and what’s more useful to our civilization than energy?

Today, we discuss another such project – RED (Restart Energy Democracy).  The RED team is also putting out an energy backed token, called the MWAT token. The company is more interesting though – they have an existing client base of over 3,000 businesses and 25,000 residences, and has an existing business in the EU. This greatly helps when it comes to trying to get others to adopt your ideas and product, since there’s a ready customer base already.

Also, the team is knowledgeable about the industry and therefore presumably have a higher probability of success.

We’ve heard some people trying to compare WePower and RED. We don’t take sides on projects we discuss. However, there’s this misconception that if there is one project in the space, then there’s no need for another one. This is completely false. The energy industry is a multi-trillion dollar industry. Innovation in this industry will drive the next trillions of dollars of value created. There is space for multiple projects.

In fact, the more projects in a niche, the better, since they are bound to take different approaches and methodologies, and after the dust settles, the market determines which approaches worked and which didn’t. We like to see such real world experiments run, especially in the crypto world. This reduces the learning curve for the next projects.

We are, of course, seeing an increasing trend towards crypto projects that combine multiple technology trends. In a similar vein, the RED project combines green energy with crypto.

So about the RED Platform itself, it can be used for a number of purposes. Firstly, the simple buying and selling of electricity in a peer to peer marketplace is enabled. This means if you have solar panels installed on your roof, you can sell this energy to your neighbor – no need to go the grid at all. A small community-driven power project can become feasible all of a sudden.

Also, energy-backed tokens are interesting in that they help finance a green energy project better than regular money. How? By promising to pay back not in USD or EUR but in KWh instead. This is more predictable and isn’t dependent on the market vagaries. This provides a higher incentive for entrepreneurs to start new projects and get them funded.

RED has the MWAT token backed by energy, with a maximum of up to 1 MWh, although it starts at 0.1 KWh.

Interested in participating in their token sale? Make sure you read the whitepaper.

Photo Credit: marian rodriguez

DAV: A Crypto Token for the Autonomous Vehicle Industry

DAV Autonomous Vehicles Crypto

We’ve often said in the past that to understand the true power of crypto, you need to look not just at ‘blockchain technology’ in isolation, but combine it with all the other technology trends that are going on in the world today. In effect, the power of crypto will not be unleashed in isolation, but in a combination of different technologies that will shape the next 100 years of humanity. In that regard, projects working to combine blockchains with other technologies – AI, AR/VR, IoT, autonomous mobility, etc. excite us, since what we need is a lot of experiments run in these areas, so we know which ones work in the real world, which ones fail, and the lessons learned from those failures to build a better system tomorrow.

To that end, we want to introduce our readers to a new crypto project that is aimed at combining two of these powerful future trends – crypto and autonomous vehicles. The project is called DAV – Decentralized Autonomous Vehicles. It is a crypto token for the economy that will be enabled by the future technological progress of the autonomous vehicles. What the DAV Token itself does is to provide access to the DAV Platform. What the DAV Platform does is to allow access to a range of services in the autonomous vehicles space.

The DAV Platform is a platform that lets various autonomous vehicles transact with one another. This will be a crucial feature of the autonomous cars revolution, because it can help automate a lot of the features of decision making traditionally reserved for humans instead of machines, especially when it involves payment.

Using the DAV Platform, for example, you can access a peer to peer market of mobility. The way this works is like any other peer to peer marketplace – one party rents out the resource, an autonomous car in this case, and the other party borrows the same resource. The platform brings both the parties together on one platform to enable the transaction. The payment for this service all happens in the DAV Token.

The DAV Platform is a multi-sided marketplace, however, since there are also service providers in the equation. The service providers help keep the autonomous cars in working condition and good shape, and are paid for their service by the owners.

One nice feature of the whole platform is that it is an open marketplace and not limited to large corporations that are active in the autonomous vehicle space. From the very beginning, the company is building out the platform keeping the person to person market in mind, not just a person borrowing something from a large corporation. This therefore eliminates the need for a middle man during the transaction, which can become a rent-seeking entity with hideous profits at the expense of the people/users/community. Here, the value created by the network is shared within the network, not with the shareholders of a large corporation.

The DAV Platform also solves other issues that the autonomous vehicle industry will need to solve, such as identity and discoverability. These are crucial, since the ‘objects’ are in the real world and not in the virtual world. Identity is a crucial element when fungibility isn’t desirable or required, which is unlike many other digital goods.

Remember that the platform is decentralized, so everything from discovering resources to communication amongst the parties is facilitated in a decentralized manner.

If you like such long term bets, check out DAV’s whitepaper for more information on the project.

Photo Credit: Photo Steel