Mega news! I don’t really like catchy headlines, but I consider this post very important. And not only for our company, but for the entire blockchain industry. (I even advertise it). So, the drum roll …

 Skillonomy signed a memorandum of partnership with Garuda AI. The goals of the partnership are the preparation and formal verification of the mathematical model of the Skillonomy tokenomics.

Who are Garuda AI guys and why is this very important news?

The team of the company Garuda AI consists of high-level mathematicians, including people with doctoral and professorial degrees, who work at the Institute of Cybernetics  named after academician Glushkov. (Now for the question: “How many people in your team have a PhD?”, we will have something to answer :)).

In addition to degrees in mathematics, these people also have deep knowledge in programming. World leaders, such as Intel and Motorola, turn to them for expertise in mathematical modeling. No doubt, in their field, they are ones of the best specialists in the world.How does this affect the blockchain industry?

Until recently, most blockchain-projects went to ICO without a finished product and this increased the risk of project failure.

Companies that raised money for the idea, have already begun to market their products, platforms and services. And the market, faced with the fact that besides a finished product, you need a well-developed mathematical model of the token behavior. Otherwise, the long-term development of the entire service will be under threat.

Usually in 20-30 pages of Whitepapers, the role of the token was assigned with at best – a few paragraphs and one picture-scheme. Today, for a qualitatively elaborated tokenomics, a formalized mathematical model is already needed. Which itself should take several dozen pages(!).

Why is this mathematical model so important?

For the construction of real DAO (decentralized autonomous organizations), for which the entire blockchain-revolution is actually started, the correct model of the tokenomics is no less valuable than the use of the blockchain itself.

Now before the blockchain industry there is a challenge about the possibility of mass introduction of DAO. I am absolutely sure that at this stage, the tokenomics is even more important than the technology of the blockchain itself. Because, the correct role of the token, is the right economic incentive to use the product or service in the DAO.

The geek innovators could use the services on the blockchain for ideological reasons, even if they did not have a very high-quality functional and did not have an economic incentive. But for the mass users the advanced idea is not enough. We need a convenient and “beneficial” product to use. And it is the “correct” role of the token in the system that can show this profitability.

Today the correctness of using the token in the product is replaced by the possibility of speculation in the market. And instead of the correct logic of organization, mathematical models and long-term economic incentives, we have “ICO marketing”, “HYPE” and “qualified market makers” etc.
This is partly because there is no information about what is “right”. Because there are no working examples of DAO except bitcoin, the implementation of which is very simple and not that illustrative.

But to build new services the system will have to be complicated. And besides the technological problem with processing a large number of transactions, the problem of constructing the correct tokenomics model appears. And for this we need qualified mathematicians.

And here is the team of Garuda AI, which will help to create, formalize and test these models, that comes to the rescue.

And that’s why I’m making such an announcement with such joy and pride, I think that Skillonomy will be one of the first companies in the industry who will show an example of constructing a qualitative and mathematically designed tokenomics model and this will give boost to the development of the whole ecosystem.

These activities fall into the new concept of the “Exemplary ICO”, which we present to the world in our example, trying to do everything correctly, openly and transparently, according to the strings of the universe in the direction of the singularity).

P.S. The repost of this news enlightens the world and purifies karma, Skillonomy at its part, will grant all who reposts this on Facebook with 10 000 Skilltokens! For the accrual procedure, see the first comment under the post.

#Skillonomy, #GarudaAi, #DAOMassAdoption, #ExampleryICO, #Object, DES, #TokenMathModel, #FormalVerification

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