On March 14th, 2018, SENNO, a Hong Kong based project that aims to ‘decentralize decision making’ released it’s white paper. Senno is building a sentiment analysis platform with an open API for 3rd party application integration. It aims to use distributed sentiment analysis and artificial intelligence to create a real time crowd wisdom ecosystem to ‘revolutionize the way decision making is made’.
With the explosion of the Web 2.0, user generated content and interaction has increased exponentially. Social media, news, entertainment, gossip and research is a reflection of public opinion, and has the ability to provide insight on what consumers really think. Understanding the consumer’s way of thinking can help businesses to understand what drives them to make certain decisions.
Sentiment analysis machines exist to provide insights on this content, however there are three main issues that have kept this technology confined to all but a few users.
Firstly, real time digestion and analysis of millions of pages of web content requires huge amounts of computing power, leading to very high operational costs.
Secondly, centralized solutions have an inherent risk of data manipulation.
Thirdly, early Web 2.0 content was confined to forums and early adopters, meaning that there was limited access to a broad range of public opinion.
Senno aims to solve these three issues through a decentralized blockchain sentiment analysis platform. Users will be able to contribute computing power to the network, and developers will be able to integrate insights into applications through an open SDK. They will allow real-time analysis of user sentiment at a fraction of the costs of traditional solutions, enabling new use case scenarios and opening the technology up to a whole new class of users.
The ecosystem will be powered by the SENNO token, which will be used to purchase services through the SENNO ecosystem, and will be redistributed to hardware contributors and data collection tools.
The first application on SENNO will be CryptoScanner, an open source, fully-functional, real-time, market-trading signal application that will monitor the web for ‘Buzz and Mood’ indicators for every coin. CryptoScanner alpha is scheduled for release in Q4 2018.
SENNO presale will begin on March 31st with a pre-sale cap of $4 million, a minimum buy of $500 and a token price of 1.92 SENNO per cent.
A total of 10 billion SENNO will be minted, with 40% to be sold during the crowd sale, which will be held on a yet to be determined date.
The white paper contains detailed information on the SENNO infrastructure, application flow, algorithm formulas and smart contract. It can be downloaded from this link.
For more information on SENNO you can visit their website, Twitter and Telegram.
About The Author: Dean Jeffs
Dean is a digital project manager who has worked extensively with start ups and agencies in the marketing space. Fascinated by the potential applications of blockchain technology, Dean has a passion for realising the new smart economy.
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