After looking through 41 token announcements, we’re picking DML as our ICO of the Day. DML is a project that promises to decentralize machine learning.
Premise
AI is a huge force in today’s technological ecosystem. Google uses it to tailor ads to us, Amazon uses it to recommend products we may purchase, and Tesla uses it to help teach its cars to drive better.
Until now, AI has been locked in the hands of those huge corporations. Our data is used without our knowledge, and our privacy is compromised. Algorithms are processed in huge data centers inaccessible to normal businesses or developers. DML aims to change that and decentralize data ownership, algorithm creation, and data processing.
Data we create on our phones, PCs or tablets will be owned by us but can be used by the DML network for a fee, while still protecting our privacy. Processing will be decentralized by allowing our computing devices’ spare processing power to run machine learning algorithms. Even Algorithms will be decentralized as there will be a marketplace where AI developers can sell their algorithms to businesses that it can help.
Every player in the ecosystems wins. Ordinary consumers have more control over their data and their privacy, while being able to earn income through selling their data or processing power. AI developers are able to sell algorithms in the market place. Finally, small and medium businesses are able to take advantage of the benefits of machine learning.
To put it into concrete terms, the example use case DML provides is a fashion company uses data gathered from consumers and a simple AI algorithm to predict which colors will be popular in the coming season.
Team
DML’s team is fairly solid, with good software, blockchain, and cloud talent. The team does seem a little worryingly light on AI and machine learning experience, however. We found just one team member with machine-learning credentials in their LinkedIn profile.
However, the advisers to the team seem do seem to have significant knowledge and experience in AI and machine learning, which should help offset the core team’s weakness in that respect. Since the team’s core product is an AI delivery platform rather than an AI itself, we think this is acceptable.
Token
The DML token is used as the native cryptocurrency in the ecosystem to compensate users for producing and selling their data and processing power. It’s also used to compensate AI developers, and to buy algorithms.
The project is selling 36% of the tokens for 28,000 ETH. This is a relatively low float, which is non-ideal, but not a a deal-breaker.
Risks
The team is relatively strong in terms of development, so execution risk seems fairly low. The success of the project will probably depend on market adoption. The project has a business development manager, but we would like to see more industry partnerships to kick start the network effect that this kind of project needs.
There is no current MVP, although one is slated to be released in March. Since the token sale has technically not started, it would be prudent for contributors to sign up for the whitelist and then wait for the MVP to come out before contributing eth.
Summary
DML is a promising AI based blockchain project with a fairly clear and strong premise. Their idea not only applies AI to the blockchain, but does so in a way with clear benefits for everyone involved.
We would like to see better token metrics, and more evidence of industry support, but overall this seems like a fairly solid project.
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