Key Details of the DeepBrain Chain (DBC) ICO
DeepBrain Chain ICO Review
According to the site, DeepBrain Chain will be listed after Christmas (December 25th, 2017) on Huobi, Kucoin, and Lbank.
- Start Date – ICO on December 14th (sold out within 1 hour)
- Exchange Start Date – After December 25th, 2017
- Token Symbol – DBC
- Hard Cap – 1,500,000,000 tokens (1.5 billion)
- Total tokens – 10,000,000,000 (10 billion)
- Exchange Rate – 1 NEO = 2200 DBC
- Accepted Cryptocurrencies – NEO
- Pre-Sale – 600,000,000 DBC Issued in Pre-Sale
DeepBrain Chain Community
What is DeepBrain Chain?
DeepBrain Chain is offering a decentralized artificial intelligence computing network and platform for a variety of artificial intelligence products.
It’s essentially a platform made for data computation and data trading to distribute spare computing resource. This would ultimately make AI computation demands much cheaper (the project estimates a 70% cost reduction in AI) by protecting against leakage of data, while also securing intellectual property for the products and the data.
Beyond that, another critical element is DeepBrain’s semantics library: a library that supports voice interaction applications (similar to Amazon’s Alexa). DeepBrain’s semantics library can also be used to create third-party applications that require voice, image, text, and other inputs
The founding team is convinced that DeepBrain Chain has already shown a use case in the existing market, has the potential to scale in a gigantic market, and will be able to gradually grow around its core business of sharing storage and its mechanism of computation capacity of mining.
Every DBC token corresponds to the computation value of the service. This means that the token is tied to real value, and if the DeepBrain Chain can pull off this ambitious project, investors would be able to see some pretty substantial dividends.
If DeepBrain Chain is able to establish itself as a pioneer in the blockchain-based AI space, it will have some substantial footing in a potentially trillion dollar industry. Experts predict that the role of artificial intelligence will continue to increase with the advent of new AI applications.
The AI industry is currently worth around $20 billion a year, with the majority of the cost being spent on computation processing. This is exactly where DeepBrain Chain looks to fit in, as it leverages the blockchain to reduce costs and increase the speed of transactions.
Based in Shanghai, DeepBrain Chain boasts a fairly stacked team.
CEO Feng He is considered an expert in the artificial intelligence space and has been known and eventually became a well-respected figure in the Chinese Bitcoin and blockchain technology world since 2014. He once oversaw the development of the world’s first artifical intelligence sound box (Small Zhi), the development of China’s first cloud of the brain system (DeepBrain), and led the research and development of the first Chinese voice assistant (smart 360) with a userbase of over 17 million.
CTO Shu Chang is considered an expert in the AI, blockchain, and cryptography space due to his involvement as the Director of Artificial Intelligence Laboratory of Shanghai.
CMO Chuanfeng Lee is one of the first of a batch of entrepreneurs in the AI space in China, Bitcoin, and blockchain research. He also led the marketing for smart 360 and helped the project get to a userbase of over 17 million.
Some of the team’s notable accolades including winning first place in the enterprise sector of SMP2017, a Chinese man-machine dialogue evaluation. The competition had over 30 national top AI teams.
The team plans to distribute the capital accordingly:
DeepBrain Chain Pros:
- Being partnered with the NEO Council and being one of the first notable ICOs to spring out of NEO’s platform. The NEO community has proven to be very vocal and supportive, and have the backing of this community will be a huge asset. It’s also estimated that NEO previously invested $6 million into the project.
- The industry is worth $20 billion and is expected to continue to grow as more and more AI-based technologies develop. If DBC is able to play a sigificant role in cost reduction, it will help the industry scale (while earning itself a nice profit along the way).
- The DeepBrain Chain whitepaper claims there have only been 5,000 AI-based startups since 2012, earning over $22 billion. That puts the average earning of each startup at around $4.4 million. This number, however, doesn’t reflect enterprise investments in AI, which easily boosts the total number of the industry to well over $100 billion since 2012.
DeepBrain Chain Cons:
- One of the biggest cons of the project is that NEO is a Chinese project based in Singapore, not only making it a bit more out of reach for United States investors. The ICO had strict kyc/aml rules and didn’t allow any Chinese or Americans to invest.
- With only 9% of the total tokens going in the ICO, it’s far from a decentralized ICO that many investors are used to. However, 50% of tokens are generated through mining, in the same something like Bitcoin’s supply inflates over time from proof of work. Since anyone will have access to this pool, the project still retains some decentralized components. The centralized part is that many of the tokens are held by the team and foundation, which will be released over 10 years. After 1 year, the founders will only have 3.5% of the total supply.
- The sites and marketing materials are unusually difficult to get through. I’m sure this can be chalked up to a lag in translation, which to be fair, it doesn’t seem like an easy effort to translate the bold AI-blockchain tech to simple terms and English without a few stumbles.
DeepBrain Chain is following some pretty strict KYC regulations and is offering a slim window for its ICO. The ICO itself is expected to gain a lot of investments from NEO supporters and from the few people in the cryptocurrency industry that are familiar with this Chinese and relatively under-the-radar project.
Being built on NEO, Ethereum’s Chinese competitor, DeepBrain Child is likely to draw a lot of attention in the following months. It’s going to be one project to follow if/when it hits major exchanges after the ICO.
To learn more, visit their homepage (but brace yourselves and your speakers for an annoying auto-play video).
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ABOUT THE AUTHOR
Alex Moskov is the Founder and Editor-in-Chief of CoinCentral. Alex leans on his formal educational background (BSBA with a Major in Finance from the University of Florida) and his on-the-ground experiences with cryptocurrency starting in 2012. Alex works with cryptocurrency and blockchain-based companies on content strategy and business development. He privately consults entrepreneurs and venture capitalists on movements within the cryptocurrency industry.
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