Blockchain-based Machine Learning Platform to Help Businesses Predict Consumer Behavior

A company says it has created the first decentralized machine learning platform on the blockchain - giving organizations of all sizes the ability to discover new patterns in their data, predict when sales are going to be made, and increase clickthrough rates from customers.

GNY's founder and chief R&D officer Richard Jarritt explained: "It was one of our aims to push forward with blockchain thinking - away from thinking as a rigid structure of linear events. What could you do if you brought programing software ability on chain?" As a result, the team has produced a technology that could analyze secure data in real time and adapt to an individual's behavior as it progresses and changes.

Through hundreds of machine learning algorithms working in tandem with one another, and responding to millions of independent variable features, GNY says it can solve multiple business problems such as fraud in the insurance industry, viewership in publishing, and predict how a user is going to behave in retail.

"We've tested the predictive platform very successfully over the past two years. We're currently working with insurance companies, financial services companies, retailers, and marketers. We think the application for this technology can go even wider than that," GNY founder Cosmas Wong told Cointelegraph.

GNY says its smart APIs have been paired with a universal operating language, and this enables developers from all walks of life to "Easily access the power of machine learning." The company says its ecosystem has successfully tested cross-chain transactions for Bitcoin, Asch and Ethereum.

In the future, the company plans to bring the machine learning power to be decentralized across its own DPOS network, engineered by Tom Lorenc, an experienced technology expert and data scientist, and cryptographic developer Leo Liang.

GNY has placed a heavy emphasis on being "Non-intrusive, effective and efficient" - and says its platform has great potential in transforming our day-to-day lives, while protecting data security and privacy.

The grant will be awarded to several organizations bi-annually, and will provide them GNY's full service custom services completely pro-bono to help them solve "Pressing and complex data problems."

GNY's ERC-20 token is going to be introduced during the platform's initial offering - on September 3 - giving token holders the opportunity to make the most out of GNY's machine learning capabilities.

Richard Jarritt says the Channel Islands was chosen because of its stable yet flexible framework to encourage quality ICOs.According to GNY, its team has extensive experience in specialized machine learning and blockchain - and its workforce is based in the UK, Asia and the US. In a development which GNY says sets it out from other initial coin offerings, its decentralized blockchain is patent pending in the United States.