In the early days of blockchain innovation, many an entrepreneur hatched a bright idea only to find there wasn’t a market for it. Tech entrepreneur Max Rye wanted to avoid that mistake when he and Geeta Chauhan founded DeepCloud AI so they had to make some quick decisions.
A provider of decentralized clouds for decentralized applications, DeepCloud AI offers technology assisting with smart city development, supply chain tracking, media streaming for in-demand programming, and decentralized AI algorithm learning allowing IoT device consumers to monetize their own data.
Having been involved in past digital transformations, Mr. Rye said he knew it was crucial to provide strong value propositions to customers in order for them to make the significant commitment to change enterprise systems. Those changes had to be more than theoretical and clearly understood. So when he and Ms. Chauhan decided to start DeepCloud AI two years ago, they were prepared to adjust their business case as they identified the most profitable niches in the space.
That approach brought traditional analytics to a space whereanything goes, where technology often prevails over sound business principles.Some projects promise a strong use case in five years, which is an eternity ina universe of unknowns like blockchain.
“You see that in the blockchain space a lot,” Mr. Ryeobserved. “There are many amazing projects with great blockchain technology butthey don’t translate into business applications and enterprise use cases.”
Build for the immediate, get feedback, iterate, and repeat. Often.The crypto bear market also helped by taking the spotlight off the sector andallowed technologists to refine their product.
You also have to build trust when introducing new technologyuse cases, Mr. Rye added. From his cloud computing background, he knew noenterprise would trust their entire workload to a decentralized fabric, so heworked with rendering companies to use computing power and to build his revenuemodel.
Blockchain technology plays a key role as DeepCloud AIbuilds products on top of a decentralized fabric, Mr. Rye said. Improving globaltransaction speeds is a clear benefit, as is immutability.
DeepCloud AI has no problem attracting miners who share their computing power with the network, Mr. Rye said. As Bitcoin mining becomes more complex, smaller miners with decent equipment and availability are plentiful. They are compensated with DEEP tokens which are tied to a stablecoin so they offer a reliable value. DEEP can be cashed in for fiat or exchanged for bitcoin.
“The challenge in the space isn’t supply, it’s demand,” Mr.Rye countered. “We have to convince enterprises and governments it’s a reliableservice.” That process begins by showing clear value with blockchain-enabledservices like e-signatures and deep VPNs that generate demand for computingpower provided by DeepCloud AI miners. The circle of activity enriches itself.
Artificial intelligence combines with the low latency of thedistributed mining network to provide clear advantages, Mr. Rye said. Withthousands of computers the network can tap into the closest ones to providefaster services, a key feature for financial transaction systems, informationnetworks, and even facial recognition technologies at points of entry wherefast resolution is needed.
Smart cities are another key target for DeepCloud AI, Mr.Rye said. They are working with the Mexican government to develop ablockchain-enabled driver registration on the cloud. Staying in Mexico, DeepCloudAI is partnering with a television channel to develop low-latency cloudsolutions for their streaming services. Supply chain solutions can track high-valueshipments and prevent theft.
Expect more partnership announcements and new applications in the coming months, Mr. Rye added.
Contributors
