A Cryptocurrency With a Purpose | Cindicator (CND)
This is my first time writing on Medium. I’ve started to fall in love with the platform and am excited to join the awesome community of writers and thinkers!!
My name’s Grant. I’ve been in the crypto scene for a few years now. After buying my first Bitcoin and discovering Ethereum in it’s infancy, I was instantly hooked. I’ve dabbled in side project development of a BTC wallet among other things, and am over all just insanely excited for the future and decentralizations role in it. Say what you will about bubbles and hype; crypto has been and will continue to be here to stay.
With my brief intro out of the way, let’s dive right in to what I want to share with everyone.
Cindicator…or CND as you on the exchanges might know it. Or probably don’t know it, as it’s extremely fresh to a lot of large exchanges and was just recently added to CoinMarketCap in October.
It’s a new platform/currency and just recently had it’s ICO. Here’s their whitepaper for those of you who want to dive right in: Cindicator White Paper
They had a very nicely distributed ICO. No red flags.
75% Token Sale Contributors
20% Cindicator Company
3.8% Advisors & Partners
1% Reward Program
.2% Current Forecasters
They set a hard cap of $15 Million and started the exchange at 1 CND -> $.01.
Unfortunately the United States and a few other areas were not able to participate in the ICO. But that doesn’t mean you can’t trade in now!
Now that the numbers are out of the way, let’s talk Cindicator…or Cindy as superfans call it.
First off. The Team. With 13 members and 15 advisors including the likes of Anthony Diiorio (Founder of Jaxx wallet), they have a large team that covers a very wide range of skillsets. First and foremost, their CEO Mike Brusov has dedicated a large portion of his past time/experience to startups, big data and predictive markets. The rest of the team falls in line behind him with skills and experience in the fields needed to succeed in both the crypto and predictive markets space (more on predictive markets down the page as we get into Cindicator).
More than just a good team, the company has a great outlook. They aren’t focused on pumping/hyping up their token. They are focused on developing and promoting their tech and keeping their investors secure. A look at their twitter shows this well. And one of my favorite posts from them is this one, on security and taking the proper steps to join reputable exchanges. Their Medium is full of information and insight into the company. I highly recommend scouring it.
So. What Is Cindicator?
Straight from their website they are:
Hybrid Intelligence for Effective Asset Management
That’s a bit of a mouthful, but it actually sums things up really well…once you know just a bit more about the project. The opening paragraph from their whitepaper is very concice and clear:
Cindicator creates the social and technological infrastructure needed to make effective decisions under the volatile conditions of the new economy. By combining a large number of diverse financial analysts and a set of machinelearning models into a single system, we are developing a Hybrid Intelligence infrastructure for the efficient management of investors’ capital in traditional financial and crypto-markets
Essentially what Cindicator is doing, (I will reiterate “IS DOING”, as the Cindicator app is live) is collecting boat loads of data and predicting the future of assets/commodities through a hybrid of artificial and user generated forecasts. Users are rewarded with points and cryptocurrency for correct forecasts. All on a decentralized ledger of course.
Cut and dry. Cindicator is a prediction market. By asking users/analysts questions about markets and rewarding them for correct forecasts, Cindicator can get an accurate assessment of what is too come. Prediction markets are proven on the basis of the ‘Efficient-market Hypothesis’. I won’t go on explaining their validity as they have been proven very effective. So if you want to read up more on them, head over here.
The reason I’m so excited about Cindicator is not simply because they are a prediction market. These have been around for a-while, and can work great when they are run by reputable institutions. I’m excited because Cindicator is a decentralized prediction market that is actually functioning (can’t be said about a lot of current crypto companies). The decentralized aspect of their data collection and cross referencing means that all forecasts and indicators are completely unbiased and unmanipulated.
Don’t believe me that they are live and running? Head over to the app store (Android | Apple), download the app and get sucked in. Questions about current commodities, assets, cryptocurrencies and more will show up in a long scrolling feed and you can immediately start forecasting. When you forecast correctly you are rewarded with points that send you up the leaderboards, and down when you’re wrong. They also reward correct forecasts with cryptocurrencies (currently ETH), paid out monthly/quarterly. They have a great UI for just starting out and I am thoroughly impressed!
I’m on android, and they already have a strong user base with some really incredible forecasters. Some over the 70%-90% correct mark!! I can only imagine the amount of data they are collecting. You can follow their twitter feed and get a nice insight into how accurate some of the Cindicator predictions can be.
So that’s the platform. The heart of Cindicator. Where the data is harvested. But it doesn’t stop their…The Cindicator platform is what feeds the other two aspects of their overarching goal. Cindicator is like an Onion…it has layers.
Ogres are like Cindicator. Cindicator has Layers. — Shrek
The other two aspects of Cindicator are ‘The Bot’ and the ‘Cryptometer’.
The bot gets fed by the user generated data from the platform. That data is then sent into their machine learning system which cross references and generates valuable indicators/forecasts. It’s all integrated into a handy chatbot that can keep you updated on whatever assets/commodities you choose. This is just a brief overview of the bot. For more info on the technical side of how their machine learning AI works, check the whitepaper and website. They explain much better than I can.
The Cryptometer takes the bot one step further and applies their datasets and indicators to the specific niche of cryptocurrency. By using live cryptocurrency indicators generated from the platform/bot, they have created a really cool tool to help crypto investors spot volatile market changes and trends as they happen.
That’s the gist of it all. The depth of the technical side of their prediction collection, reward system and AI is quite impressive and worthy of a post in and of it’s own. One that I’m probably not qualified to write ;).
While they are still young, and there are a few competitors developing other prediction markets in the crypto industry, I really do have a lot of belief in Cindicator, the team and their success. They have hit the ground running hard. There are not many crypto companies with a product the masses can immediately download and get involved with.
An new roadmap for 2018 is due this month, and I look forward to scouring it and perhaps writing a follow up article.
What excites me most about this project is how diverse it is; while still staying true to its niche. The Cindicator platform’s everyday use potential is extremely high, while also driving and entire ecosystem of smart indicators/forecasts that will positively influence small to large investments and decisions.
Oh….by the way. Cindicator is trading up over 100% in the last day. Just another plus ;)
Thanks for listening. And please let me know if I missed any key points, or if you have any strong aversions to this project, team or anything else related.