Computable Labs is a blockchain based project with the objective to crowdsource data so that the physical world can be transformed into structured data. The vision of Computable Labs is to make data a shared resource that is openly accessible. Data should be liberated from the exclusive ownership of large centralized corporations by enabling fractional ownership of crowdsourced online datasets. Use cases of Computable include data markets, data on demand, data as a service, and data cooperatives for scientific disciplines.
How advanced is the project?
The Computable project seems to be at an early stage. A white paper was not yet released. However, instead of the white paper the co-founders released a research paper about Tokenized Data Markets. Also, the co-founders secured substantial private funding from well known blockchain venture capital firms.
What are the tokens used for and how can the token value appreciate?
The Computable token incentivizes the provision and curation of data. Contributors of data to the platform will receive tokens in exchange. These tokens come with a share of the future financial rewards from the dataset. The incentives are similar to those of startup enterprises. At startups, founders and early employees receive equity in order to contribute their time and knowledge to the venture. In case of a success the founders receive substantial monetary compensation for their efforts.
Computational Labs envisages similar incentives for data curation. If the data later on represents a high value, the curators who own the tokens will receive high financial rewards for their work. On the other hand the querier, an entity that accesses the data, needs to pay for using the data. The value of the token will be determined by the future economic value that a token holder can generate.
Team & Advisors
The Computable Labs team consists of three co-founders, a senior engineer, a research fellow, a technology evangelist and a machine learning expert.
Roger Chen is the co-founder and CEO of Computable Labs. He previously worked for a venture capital firm. Roger was pursuing a PhD at Berkeley and worked for companies such as Oracle.
Bharath Ramsundar is a co-founder and the CTO of Computable Labs. He holds a bachelor in Electrical Engineering and Computer Science as well as Mathematics from Berkeley University and a PhD in Computer Science from Stanford. He is the lead author of the book TensorFlow for Deep Learning.
Alok Vasudev is the third co-founder of Computable Labs. He studied at Stanford and previously worked for the venture capital companies Spectrum 28 and Benchmark.
Among the advisors of Computable Labs are Jordan Cooper, an angel investor, Robert Stewart and Kris Gale, both technology executives, and Aaron Schildkrout, an entrepreneur and leadership advisor.
Computational Labs aims to build a decentralized data exchange in order to enable liquid data markets. Buyers and sellers of data can trade data sets without the need of a centralized third party.
In the research paper Tokenized Data Markets, the Computable co-founders present tokenized data structures that count with the following characteristics: off-chain storage of content (particularly images), private data storage, and recursive nesting.
Details for technical implementations have not yet been provided. However, it seems that Computable will build its own base layer protocol and not build on an existing smart contract platform.
Strength and Opportunities
Computable counts with an incredibly strong investor base. Among the investors are well known blockchain venture capital firms such as Pantera and Blockchain Capital. In addition the team is strong in terms of educational and professional background.
Using the blockchain technology for the purpose of Computable Labs makes a lot of sense. First the blockchain helps to build a data market place without the need of a trusted third party. Second, the tokens provide a strong incentive for entities to contribute data resources.
Weaknesses and Threats
Computable Labs is not the first blockchain project that is working on making large data sets available to a broader audience so that machine learning and other data analytics operations can be performed. It is unclear which approach and blockchain platform will dominate this field in the future.
Several of the founders have a VC background, which helped them raise capital from top tier cryptocurrency investors. However, it seems that on other aspects, such as community building and white paper development, Computational Labs is behind other blockchain projects. The Telegram Group seems not to be very active nor are there other channels that point towards an engaged community.
Computable Labs has raised money from private investors which will give the team the resources to hire qualified engineers to further specify and develop the platform. The previous experience and the network of the team hint that the execution of the project will be effective despite the early stage the project is currently in. Success will depend on adoption amongst developers and the quality of the data that will be contributed to the network. Computable Labs is definitely one of the projects early stage ICO investors should follow closely.
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.