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 where
anything goes, where technology often prevails over sound business principles.
Some projects promise a strong use case in five years, which is an eternity in
a universe of unknowns like blockchain.
“You see that in the blockchain space a lot,” Mr. Rye
observed. “There are many amazing projects with great blockchain technology but
they 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 and
allowed technologists to refine their product.
You also have to build trust when introducing new technology
use cases, Mr. Rye added. From his cloud computing background, he knew no
enterprise would trust their entire workload to a decentralized fabric, so he
worked with rendering companies to use computing power and to build his revenue
Blockchain technology plays a key role as DeepCloud AI
builds products on top of a decentralized fabric, Mr. Rye said. Improving global
transaction 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 reliable
service.” That process begins by showing clear value with blockchain-enabled
services like e-signatures and deep VPNs that generate demand for computing
power provided by DeepCloud AI miners. The circle of activity enriches itself.
Artificial intelligence combines with the low latency of the
distributed mining network to provide clear advantages, Mr. Rye said. With
thousands of computers the network can tap into the closest ones to provide
faster services, a key feature for financial transaction systems, information
networks, and even facial recognition technologies at points of entry where
fast resolution is needed.
Smart cities are another key target for DeepCloud AI, Mr.
Rye said. They are working with the Mexican government to develop a
blockchain-enabled driver registration on the cloud. Staying in Mexico, DeepCloud
AI is partnering with a television channel to develop low-latency cloud
solutions for their streaming services. Supply chain solutions can track high-value
shipments and prevent theft.
Expect more partnership announcements and new applications in the coming months, Mr. Rye added.
Like this article? Take a second to support us on Patreon!