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AMA Recap: Data Smart Contracts to Foster Token Utility

Quadrant April AMA Recap Image From new mechanisms to bolster token use to the launch of AI microservices to the team’s expansion, the April AMA with CEO Mike Davie highlighted this year’s developments and looked ahead at Quadrant’s long-term progress in creating the best place for making the best decisions with data.

You can watch the Ask-Me-Anything session here or read below for the key themes.  

 

 

 

First Quarter Releases

Mike outlined first quarter developments delivered in line with the company’s roadmap. This  started with the January release of the data monetisation app, where companies are providing data to Quadrant. “The tech was not only released but it is being used commercially,” Mike said.

And as the quarter ended, Quadrant also launched its microservices layer with an AI Models tool that speeds up the process of interpreting datafeeds, allowing customers to understand data right away and better optimise their products and services.

In between, Mike explained, the Quadrant team grew, including with the hiring of a sales executive in the United States and three data scientists who deliver insights for new clients and products.

Mike also detailed the company’s service credits initiative, in which Quadrant facilitates customers using Quads by buying the tokens on exchanges. Mike explained to the community how Quadrant’s enterprise customers are restricted due to accounting rules from purchasing the token from third-party exchanges. “You have to make the buying process as smooth as possible if you want to get adoption by enterprise,” Mike said.  


Data Smart Contracts

With several AMA questions focusing on the company’s efforts to stimulate use of the Quad token, Mike revealed details of the planned development of the Data Mapper Framework. Within a few months, Quadrant plans to have data smart contracts, where transactions between buyers and sellers on the network will effectively be translated onto a contract that would use the Quad token. That ensures products and services match with the use of Quads, he said, about the plans for greater liquidity. “It is a utility token, so let’s make sure there is strong utility for it,” Mike added.   

Understandably, when it came to questions about the token, the recent incident at the Coinbene exchange, which has acknowledged “abnormal transactions,” was a key topic. Mike told how he is working with Coinbene to minimize any impact on Quadrant and noted the exchange had said it would compensate token holders. Mike also said he remained optimistic about the future of cryptocurrency generally. “We truly believe in cryptocurrency. It is a very powerful medium and the markets will shift toward adoption,” he said.

With revenue on target and a new partner program also being developed this quarter to go with the various tech deployments and commercialization, Mike had plenty of reasons to be positive about Quadrant’s future too. And the success of the company, he said, is being built with a long-term mindset.

“We are making the right decisions for the business, making sure we are sustainable,” he said.