What Is GNY?
GNY is a new company that describes itself and services as the “first decentralized machine learning blockchain.” Its business model is aimed at companies and organizations of all sizes that are interested in smart APIs integrated with the blockchain ecosystem. GNY is preparing for an ICO that is set to start on September 3, 2018, during which time 400 million GNY tokens will be available for purchase.
The GNY Team
GNY was co-founded in 2015 by Cosmas Wong, who also serves as the CEO, and Richard Jarritt, who is also the president of research & development. Wong has been an investor and entrepreneur for 20 years, focusing mainly on new businesses in the technology sector. He also has experience as a private equity lawyer, as well as a background in intellectual property, corporate structures, and investing.
Jarritt, on the other hand, is a specialist in cryptocurrency exchanges and open source blockchain projects. He has worked on cryptocurrency exchange projects like Asch and Lisk and would like to see blockchain become more accessible and widespread.
In addition to Wong and Jarritt, the GNY website also lists three other team members. They are Thomas Lorenc, the CTO, Zachary Barnett, the Director of Social Impact, and Leo Liang, the head of blockchain and director of technology.
How GNY Decentralized Machine Learning Blockchain Works
When GNY was founded in 2015, the company set out to answer the question of how companies could organize and analyze digital data as a way to create business, marketing, and social impact solutions. With help from blockchain technology, GNY is able to use machine learning algorithms to identify consumer behavior and patterns.
GNY Centre, which appears to be the name of the company’s platform, utilizes a dedicated blockchain that is able to host side chains and offers the tools necessary to launch and host a project in a way that’s easy for developers to understand. In short, GNY makes cross chain transactions possible in the cryptocurrency and blockchain ecosystem.
Smaller and mid-sized businesses, organizations, and developers can access GNY through open API integration. This will enable them to use the GNY platform to find previously undiscovered patterns in data that can predict sales rates, improve clickthrough rates, and improve supply chain efficiency. For larger businesses, GNY offers business analysis, consultation, and customized services. This can include an overview of an organization’s goals and full reports on available data.
Of course, these services are only available to GNY token holders. Any business or developer that’s interested in exploring GNY’s services must participate in the ICO and purchase GNY tokens in order to gain access to the GNY network.
GNY Token ICO Details
GNY is preparing for two phases of token sales. There will be 200 million GNY tokens available during each phase, creating a total of 400 million tokens available during the ICO. GNY tokens will be part of the Ethereum network. One GNY token is worth $0.10. During Phase I of the token sale, which starts on September 3, consumers will get a 20% discount on the price of toke. That discount will not be available during Phase II, which starts October 1. The ICO is set to end on October 29, 2018.
By all accounts, GNY has done their homework and knows what they’re doing with regard to the services they offer. The company’s website even includes short videos of GNY’s founders and team members explaining what they do, how they do it, and how it can help. That’s an impressive amount of transparency for a company that’s still in the pre-ICO phase.
Any business or organization that is looking for a predictive platform could potentially benefit from GNY. Obviously, results can vary from one business to another. However, the company has done plenty of testing, so they are confident GNY Centre will get results. The people behind GNY also appear to have the background and skills necessary to turn their vision for the company into a reality.
Of course, GNY isn’t at the finish line yet. There is no guarantee things will work out in the end. However, GNY tokens aren’t that expensive, and for businesses and organizations that could stand to benefit from GNY’s services, this is an investment worth considering and a company worth watching.