Matrix AI Network — The #1 Crypto You Want to Own…
https://medium.com/@keithtuskey/matrix-ai-network-the-1-crypto-you-want-to-own-758661a5fa23WHY MATRIX HAS A SHOT TO DETHRONE KING NEO
China blockchain projects are experiencing an interesting transition. While China clamps down on ICOs and trading, some blockchain projects are thriving. Remember, China dislikes cryptocurrency, but loves blockchain.
China, for all the crypto industry woes it caused, was smart to clamp down. China plays to win and China is very patient. They focus on the future and winning in the long term.
It is true China shut down trading because they want to protect consumers from ponzi schemes and scams, but they also did it so they could reign in all the crappy ICOs and figure out how to make their premier blockchain projects rise to the surface. They will not let the outside world own blockchain. Remember that.
The most promising projects in China are the likes of IoT Chain, Nebulas (though this is more International), CPChain, and others. Notice that I didn’t mention NEO. NEO is the crypto world’s darling right now and for good reason. NEO has tremendous momentum and a killer platform, but the folks that I’ve spoken to within China think NEO is a Western manufactured superstar. That doesn’t mean that they don’t think the technology is great… they just don’t feel like its China’s alone. They prefer truly homegrown top tier technologies where they can hang their prideful hats on.
That brings us to Matrix AI Network. Matrix has some 3.0 (argue 4.0) features that really address a lot of the pain points that current day and even forward thinking platforms can only dream about.
#1 — Speed
I’m not going to repeat the scalability issues the industry has raised. We know them. Matrix’s goal of 1,000,000 TPS on-chain is a jaw dropper. Enough said.
#2 — Security
Blockchains are secure. Smart contracts are not. Quantstamp’s (QSP) existence is to find security holes in Ethereum smart contracts (eventually other platforms). It’s a great team, technology, and business model. They have a lot of very solid VCs backing them. Now take QSP’s model and incorporate that into artificial intelligence where machines spot the security holes for every new partner that is launched on the platform. That’s Matrix. It cuts down the time to market and eliminates the additional cost. Talk about foresight.
#3 — Flexible
Matrix will be able to blend private and public blockchains seamlessly. Businesses will also be able to control which is private and which is public data. Think Internet and Intranet blending seamlessly. This is hugely important to the business community.
The token will also be able to be used seamlessly between public and private.
#4 — Ease of Use
And yes, the best for last. I’ve been in the tech industry for 25+ years and have worked in many industries so I know how business processes work. IT departments are routinely criticized as being bottlenecks because the business wants everything yesterday.
To give a real-world example let’s take a look at internal business reporting. When data analysis first started becoming important it was usually driven by IT departments creating data warehouses and building reports for the business. This was fine for standard reports that didn’t change, but what happens when a business owner wants a custom report? Insert a ticket, prioritize the ticket, development builds it, and the wait begins for the next build. This became unacceptable (rightly so) to the business so tool companies built easy-to-use end user reporting tools that allowed the business to tap into the data warehouse without IT intervention.
Now think about that analogy with smart contracts. Very few developers know solidity (Ethereum’s SC programming language) or any of the proprietary languages for smart contracts which has led to a shortage of SC developers. NEO was smart to allow widely used languages on their platform, BUT this still requires developers.
Now think about how companies who do contract execution work today. If a business analyst wants to create a contract with a vendor they don’t call IT. They create the contract, the contract terms are agreed upon, and the contract is executed. The problem with smart contracts is they require additional resources that are already at a premium. This creates added cost, time, and layers.
Matrix allows the business to design and execute the contracts in natural language. This is the game changing feature that many businesses will embrace. I can’t overstate how significant this one feature is. This will increase adoption for Matrix at a much faster pace which then creates the desired holy grail network effect.
My last point is the team. This is a HUGELY ambitious project and you have to have a team that can execute. Matrix has an all-star team. AI wise they are the best of the best having won competitions for their work. Given how hot blockchain is and how big this project is a lot of top tier developers will easily gravitate to projects like this.
I’m not going to cover the other promising areas of Matrix like partnerships, government relationships, existing projects (hospitals, One Belt One Road, banks) and their VC backing which are all critical to the success of such a big project.
I’ve done many many hours of study on Matrix and other China blockchain projects. This is the one that I think touches real-world use cases more than all others. Of all the industries that I’ve been in I can honestly say each one of them would have benefited from a platform like Matrix. Kudos to the team for the solid forward thinking and addressing real-world business processes.
Remember, crypto is still very young and projects like this need time to mature. This is definitely a long game and there is a lot of risk so just be aware and due your own diligence.
MatrixAINetwork/WhitePaper
https://github.com/MatrixAINetwork/WhitePaper/blob/master/MATRIXBusinessWhitePaper.pdfMatrix Business White Paper
https://www.scribd.com/document/369346419/Matrix-Business-White-Paperhttps://matrix.ai/
