Prometeus Review by Midgard Research

Description

Prometeus is a secure and decentralized ecosystem designed to solve real-world problems in data brokerage, created for the Influencer Marketing, Medical and Insurance data market industries.

Prometeus Network – is planned to be a platform where the community is governed at all levels. Prometeus utilizes PoS node system where you can get a reward by approving transactions is the system. Users can become a part of the decentralized storage of data, become a validator to check information for the correctness or become an enricher who processes all validated raw data into useful analytical insight.

Also, Blockchain is a major point for this business. Due to the negative marketing trend of increasing data regulations in which centralized platforms restrict access to data and data creators are left without the right to dispose and monetize their data and well know data scandals with Facebook and Cambridge analytica, there is no other way to this type of business to exist except decentralized architecture. This industry is stuck in regulatory limbo Blockchain is the only way to create safe, decentralized (cause all data ownership is guaranteed and protected by blockchain) platform where all data owners, validators and enrichers are equally and fully protected. And Prometeus is aiming to create this platform.


MVP AND USE CASES

A  company already has a working product. This product is an illustration of what can be done with data uploaded to the network, processing their AI model, and actually issuing it into products that can have commercial applications. (You can ask their team to get access, in telegram chat @promnetwork). On this platform, you can buy analytics about influencer you interested in and make a prediction on future effects.

As a part of the network – Prometeus Labs (a company behind Prometeus Network) uses raw data uploaded by users and process this data through their unique AI. Prometeus labs are working as a participant (enricher) in the network and by using classic AI algorithms and their special technology algorithms (Determination of sex and age by photo,  TopicTensor and more) created by Arthur Suilin a famous data scientist, Prometeus Labs created the most complete and accurate package of analytical information about the influencer audience. Prometeus Network aims to create an ecosystem for all tech companies (like Prometeus Labs) and influencers who provide their data in order to create useful commercial products.

Determination of sex and age by photo
TopicTensor

Why analytical data is so important?

Of course, people trust bloggers more than TV or banner advertisements, but how to find a blogger with your target audience? 13-17 years girls are not the target audience of BMW cars but open data on Instagram do not give any statistics about gender and age of followers. With Arthur Suilin “Determination of sex and age by photo” tech, Prometeus – can give you this information and much more.  


ROADMAP

Main points in their roadmap:

-Already done: working product (without blockchain application) –  Concept is proved
-Q3 2019 – Prototype released, cooperation with NuCypher security tech
-Q4 2019 Prometeus network release – decentralized data storage, ecosystem for participants (influencers, validators, and enrichers)
-Q1 2020 – bug fixing and Ai algorithms integration
-Q2 2020 – mass data owners adoption, optimization
-Q3 2020 – fully working network


TEAM & ADVISORS

Prometeus has a solid and experienced team that consists of 9 specialists in different spheres. The team has vast experience in data science, business administration, finance, development, and marketing. Their CEO and CTO are very famous IT experts and entrepreneurs that have a great portfolio and working products.

Arthur Suilin (CEO)  – is an entrepreneur and a data scientist with over 20 years of experience in software development, startups, internet analytics and data science. He has founded two successful companies: Webvisor, Users’ behavior analytics service – acquired by Yandex and Talk.ru, the predecessor of Reddit – acquired by Mail.ru. He is also a Kaggle competition winner, contributor of ClickHouse (world’s #1 fastest bigdata DB) and ex-lead of Yandex.Metrica (world’s #2 web analytics service).

Sergey Bryukov (CTO) – is ex-Head of R&D in LAToken, he managed and developed cryptocurrency exchange platform. He has participated in developing: Acropolis, Melonport, DHARMA. Sergey has got a huge experience in cryptography, while he had been working for more than 10 years on the cutting edge of R&D in Intel and Bosch.


CLIENTS AND INVESTORS

They have the strong support of NGC fund – is one of the largest institutional investors of blockchain technologies and has been a key contributor to a number of leading projects including Zilliqa, Ontology, NKN, Oasis, Mainframe, Certik, Bluzelle, and IOTEX. And huge amount of clients that will use Prometeus Network among which Reebok, Clarins, Loreal and Sony music.

Funds and investors

Clients


TOKENOMICS

Their tokenomics is quite reasonable.

Token has a huge amount of applications from approving transactions in the system and marketplace currency to fees of decentralized storage of data, data validation and enrichment.
Private sale token price is equal to public sale = 1$
Total hardcap: $4,850,000
Private sale: $4,000,000
Public sale: $850,000
Initial circulation: $2,450,000
P.S. All funds are already raised, and there are no plans to conduct another sale.


VERDICT: 8 out of 10

Overall, we like the idea of the project and the suggested use-cases. Prometeus has already applied interesting features and we are waiting for much more. The product has a real demand.

This is one of the few projects that integrate blockchain in their product because there is a real need in it and not because it is hyped tech. Tokenomics is very reasonable, token will be useful in Prometeus network, and will be fairly distributed. Private and public sale prices are equal which proves that the team cares about the token performance.

The team is solid and experienced with good portfolio and honorable tech experts. They have such Clients as Reebook, Loreal, Clarins and many more.

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