Senno AMA: Why sentiment analysis and what is Senno’s income?

Senno’s team recently held an AMA session with the Senno community on Telegram. In case you missed it, here a few of the main highlights from the conversation:

Q: Why did you choose to pursue sentiment analysis?

A: The sentiment analysis niche can be significantly improved using the blockchain. The blockchain can reduce the cost of SA services, which are very expensive in the traditional market. Additionally, blockchain based functions like private data contribution (which allows users to get paid for data they add to the system) can produce highly accurate results. We would also like to improve the quality of SA by using private channels which cannot be accessed by public sources.

Q: Why did you choose NEO?

A: We choose NEO because our team is highly experienced with .net and C# development, both of which are supported by NEO. In addition, NEO can support higher throughput applications due to its higher transactions per second and the fact that NEO’s architecture has more advantages when it comes to being regulation compliant.

Q: Who are your partners?

A: We are partners with STOX, Smartologic, CoTrader and Capitilize in the technological fields. ICON fund and HD are financial partners. Porat, Oracle and Inbound junctions are advisory and consulting.

Q: Do IT companies need to pay something to develop a third-part app on Senno?

A: There are no fees for development on our platform, the access to the senno engine will be based on our SDK and API (which is already released) and will be for free. if there are any developers which would like to join, here are the API docs.

Q: What will be your main income?

A: Our income will be from the fees on the actual sentiment analysis made by our system, currently planned in the form of subscription plans and/or micro payments.

Q: Don’t you think your hard cap is too high? From an investment perspective, low to medium cap ICOs are best.

A: Our hardcap is stated in USD but it’s effectively based on NEO which by can be calculated to 4B / 10k = 400,000 NEO hardcap. With the current NEO value our hard cap is effectively $16M and was less than $12M just a few days ago. We feel that this is the minimum required to make sure we can build a sustainable product and ecosystem in the long run.

You can ask the Senno team your own burning questions in their official Telegram group.