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Endor Aims to Empower Users with Predictive Analytics on Blockchain

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Endor Aims to Empower Users with Predictive Analytics on Blockchain
Source: Unsplash

The second half of 2018 will likely represent a decisive period for cryptocurrencies, as many of the core functionalities and services offered across blockchains and protocols are poised to come to fruition. This “utility wave” of upcoming projects has the potential to radically change the nature of virtual interactions and even cause a paradigm shift throughout major industries worldwide.

One exciting utility that has recently been announced is the Endor Protocol which has recently entered its beta phase, enabling its 25,000+ members to engage with the protocol via its native EDR token to engage in predictive analytics.

The Evolution of Predictive Analytics

Predictive analytics is a practice where big data is analyzed to develop predictions, primarily for businesses to answer questions in regards to consumer preferences, market trends, product reception, and so on. Currently, the practice is primarily employed by major corporations like Amazon with funds to spend millions of dollars on data science teams, infrastructure, and proprietary data. Despite the massive investment, prior initiatives have exhibited questionable accuracy and have, in many instances, lacked merit to justify the costs.

As such, there has been major skepticism surrounding this method – largely due to its failure to prove that machines and algorithms are capable of making accurate predictions. As it stands, predictive analytics is typically developed through machine learning- computers and algorithms are given procedures and models to interpret big data into predictions.

Harvard Professor and Director of Social Science Gary King summarizes the critique well,

“We need to know if you are getting the right answer randomly or you’re getting the right answer because of something you are doing”.

In other words- are computers capable of learning the future?

Introducing Endor

Endor, however, approaches the idea through from a new angle. Rather than focusing efforts on machine learning, the protocol instead bases its logic in Social Physics supported by their co-founder, MIT professor Alex Pentland, who is the flagship proponent for this approach.

In its essence, Social Physics is situated around an idea that human behavior is comprised of patterns, both repeatable and uniform, and that computations can be used to predict human nature itself.

Rather than focusing efforts on infrastructure enabling computational predictions, Endor’s method focuses on predispositions and consistencies seen across society in order to forge predictions. This social physics approach synergizes quite well with the blockchain-based nature of Endor.

Both qualities enable new forms of accessibility for users. Social Physics allows for more accurate predictions with far less resources required and the blockchain environment fosters a platform that is simple to interact with.

Another limiting factor of predictive analytics is the method typically employed to interact with data. It was previously thought to be impossible to analyze big data without first decrypting it. A blockchain-based approach, however, disproves this belief, as data can be analyzed while remaining encrypted.

When the protocol communicates with or is supplied data from users, sensitive information it has accessed is hidden behind a hash. The protocol understands and can interact with the information, but any other party would be unable to decipher the data. Users can allow the protocol to interact with their data without any other party being involved. This means data is always secured and can never be leaked which is why leading banks are employing Endor.

These qualities, in harmony with one another, empower Endor as the future of predictive analytics. Their platform enables analytics which are automated, scalable, simple, and most importantly, more accurate than ever before.

Endor has already been recognized by a number of major business- current clientele includes Walmart, Coca Cola, Mastercard, and many more Fortune 500 companies. Despite the breakthroughs enabled by blockchain, no other project currently offers a blockchain-based system for predictive analytics.

Accessible to All

Now, with the launch of Endor Protocol, any individual or SMB (small- and medium-sized business) can utilize EDR to interact with the same platform as the major enterprises that are current users. This process is simple and requires no background in data science.

Users can simply query the machine via EDR, and receive automated responses. Unlike traditional approaches, where models must be created by data scientists to ask questions and properly analyze data, The Social Physics approach means any number of predictive questions can be asked by any number of users.

With the launch of Endor Protocol, all users receive the exact same service from SMBs to enterprise clients. When Walmart, for example, uses the platform, their fiat payments are converted into EDR, which is then used to query the protocol. By purchasing EDR and using tokens at the individual level, the experience is democratized.

Alongside its adoption by major banks and other Fortune 500s, The company has been named a Technology Pioneer by the World Economic Forum in 2017 and a “Cool Vendor” by Gartner the same year. The brains behind the project, Professor Pentland, was recognized by Forbes as one of the seven most powerful data scientists worldwide. Of course, this may not come as a surprise from the project pioneering the future of predictive analytics.

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Guest Post

Legislation of Casinos: Places that are taking steps towards complete Legalization of Gambling in 2019

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Legislation of Casinos: Places that are taking Steps Towards Complete Legalization of Gambling in 2019
Source: Pixabay

More and more people are seeing any form of gambling as morally acceptable. In a 2009 poll by The Gallup, only 58% of people in the US seem to accept this industry. With an update for 2018, the percentage has raised to 69%.

There could be multiple reasons why people still have different opinions about gambling, whether it’s through the form of playing a casino game online or in any establishment or betting on any sports and games. Opinions could be formed because of a person’s religion, income, and race, and educational attainment.

The legalization of gambling could also affect how people see it. With more and more places all over the world taking steps to legalize any form of gambling in their area, people are becoming more accepting of this industry. In here are some note-worthy updates about the legislation on gambling all over the world.

Regulation of Online Gambling in Ontario, Canada

Any form of gambling was made illegal in Canada half a century ago and it was in 1969 when the provincial and federal government of the country were allowed to host lotteries. Then in 1985, each province was then allowed to legalize any form of gambling that they choose.

With all of those updates on Canadian law regarding gambling, there wasn’t really anything that targets online gambling until recently, when a press release from the Canadian Gambling Association [CGA] was spread.

With this, online gambling laws in Canada seem to be taking its shaped. CGA has noticed how much Canadians, particularly in Ontario, has been wagering on online gambling websites outside the country. More than $500 million are spent by the people of Ontario in gambling each year.

Because of this, CGA and the local government see the need to have their country put in place an online regulated system to allow their citizens to place wagers on any gambling sites safer. For now, the CGA is looking forward to taking part in the government’s planned dialogues with this industry’s stakeholders.

Pennsylvania’s Online Gambling Launch

Pennsylvania will be the fourth state in the US to launch and legalize online casinos. It was previously announced that PA online casino and poker servers should be up in at least the first quarter of 2019.

However, because of the recent DOJ interpretation of the Wire Act of 1961, the PA’s Gaming Control Board decided to delay the launch for a bit.

It is expected that most online casinos in PA will then be launched in mid-2019, where the earliest target date is in mid-June. This was as instructed by the PA’s Gaming Control Board, and they expect online casinos to comply.

For now, if you’re in PA but can’t wait to play online casino games, you can check the top betting sites online. There are some casino sites that can give you insights about the best casinos you can find on the web. This site will also let you know whether an online casino will accept bettors from your place.

Remote Gambling Bill in the Netherlands

Like a lot of European countries, the Netherlands is deemed lax when it comes to their laws about gambling in any form. However, before 2012, when it comes to online gambling, the Dutch community seems to be restricted about playing casinos online.

Back then, the Dutch people are allowed to place their bets online, but this was only through local servers, which at that time was limited. However, even if more and more websites are starting to get based in the Netherlands, there are still Dutch people who’re place their bets on foreign casino websites that go unnoticed.

Because of this, a bill was submitted to allow Netherland’s government to issue licenses to foreign websites and let them legally accept wagers from the Dutch citizens.

On the 19th of February, the Netherland’s senate placed votes on the Remote Gambling Bill, which already passed the Ditch parliament three years ago. The result was much anticipated and is now good news to foreign online casinos.

Sometime next year, the Dutch government will start to issue online gambling licenses to foreign casino websites and end the monopoly of online gambling in the country. Analysts shared that the process of issuing online gambling licenses might start in January 2021.

Next year may only be the start of application requests from foreign and local stakeholders. The only problem that some foreign casinos that may have to face are the “cooling period”. This is a proposal by the Dutch Minister of Legal Protection that would not allow operators who have been accepting bets from the Dutch citizens prior to the legalization for two years.

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