1- When and how did you have this idea?
The idea of the project had originated from discussions about a way to secure patient data records via Blockchain technology, as medical records are highly sensitive and private. Further talks led to the emergence of a full out secure storage/processing network, not only to be used in the medical field, but for any type of organization and quite frankly, for society as a whole.
So the idea started from storing patient health records in a secure way via Blockchain technology. The architecture of the platform started in June 2017 and begun to develop further around September 2017.
There are a few competitors within this space, but what makes us different is the amount of thought that we’ve put into business planning, value creation, company direction, product development, etc. Our senior leadership team members are not only coders or programmers, but seasoned professionals with solid track records and industry experience, innovating and disrupting markets. It’s common for a startup to focus on the product development and forget about the business, but this is obviously a mistake, since so many products get started but few succeed due to the lack of company vision and leadership.
2- What problem are you trying to solve?
Annual expenditures for worldwide consumption of applications that utilize cloud computing reached nearly $70 billion USD in 2016. The market size of the cloud computing industry will continue to show robust growth if adoption continues to persist at its current pace.
Presently, the market is dominated by four major players: AWS, Google Cloud, Microsoft and IBM, all of whom utilize central and less trusted storage and computation facilities, while their oligopolistic dominance allows them to set high pricing levels. Because of the broad scale of their operations and their substantial investments in data centers, servers and storage facilities, these providers are also capable of hampering any competition and preventing new market entrants from competing altogether.
They utilize centralized, less trusted storage and computation facilities, however, the demand for computational processing and storage capabilities is expected to dramatically increase in the near future due to two major trends in the business and computing worlds: Big Data and Artificial Intelligence (AI).
AI-based processes require vast amounts of computations and consume significant processing power of CPU and GPU processes and the demand for storage and processing power is expected to increase exponentially with the introduction of AI applications to new areas, widespread adoption of data collected from multiple channels (such as sensors, social networks, data providers, etc.) and subsequent processing needs.
Big Data is the collection, management and storage of vast amounts of information obtained from any internal or external sources (such as the company’s IT systems, social networks, sensors and so on). The data management of companies promotes collection and storage of any data related to its operations, clients and competitors, should a need to analyze any of these data files ever present itself.
The other major trend is the emergence of Artificial Intelligence methods that “learn” from data collected on past operations, find patterns and business rules, and predict future behavior. AI-based processes require vast amounts of computations and consume significant processing power of CPU and GPU processes.
The demand for storage and for processing power is expected to exponentially increase with broadening the introduction of AI applications in new areas and with the widespread adoption of data collected from multiple channels (such as sensors, social networks, data providers, etc.) and later processing them.
A common example is an AI startup. These firms typically pay AWS up to one million a month for computing power. IAGON can cut their cost by 80%, which of course, would be a huge advantage for any startup.
3- Why do you use the Blockchain?
What fascinates us about Blockchain is that, not only is it a revolutionary technology, but there is not one single entity behind it. It is not controlled by a firm but rather the people that use the specific Blockchain. It is also the most secure way to do everything and anything in a technological aspect. Additionally, the cryptographic power of Blockchain is magnificent and enables protecting any type of data or file with relative ease.
4- What is the relation between ICO token and your project?
Our token-based economy is based on computer, server and data center owners who join the storage and processing power grids. In return for sharing the capabilities of their machine, they will be granted IAGON tokens that can be traded back to fiat money, while any party who wishes to utilize their capabilities will purchase IAGON tokens to distribute them to the parties that provide their services to the grid.
5- What are the skills and experiences of your team?
We have a team of great individuals who share the vision and passion for emerging technology and who have mindsets geared towards revolutionizing the cloud. In addition to continuing to look out for emerging technologies and jumping on the first approaching train to catch new challenges, the IAGON team consistently works towards expanding their knowledge of Blockchain technology.
Dr. Navjit Dhaliwal — CEO: A serial entrepreneur with a keen interest in business and technology. He is leading the IAGON team in an effort to be at the forefront of the decentralized cloud services industry. Dr. Navjit Dhaliwal stands tall behind two of his previously successful business ventures and clearly makes his mark with IAGON.
Dr. Elad Harison — Co-founder and COO: He is an AI and Machine Learning Expert, Economist and Industrial Engineer. His everyday work integrates the technical, scientific, business and economic aspects of the organizational processes at IAGON. He is responsible for fostering a success-oriented, accountable environment within the company.
6- Is it fully decentralized?
Yes, we believe that decentralized platforms prove to be more secure, reliable, cost-effective and efficient than centralized spaces. We aim at reducing the high costs that companies pay for cloud services for storage and processing, while uniting and benefiting “miners”(people who join our online platform) that do not fully use the capabilities of their computers, servers or data centers.
7- Are you already in contact with any exchange platform?
We have two confirmed, exchange platforms where we will be listed after the token sale, Bancor and Bauticus. Also, we are continuing to discuss possible cooperation with other exchanges, however, we will not be announcing them before the final agreement.
8- What do you think about Wings platform?
WINGS is an Ethereum network that has an unbreakable and 100% accountable track record of the token sale evaluations, from a diverse group of crypto advisors, enthusiasts and experts, who take part in the strong WINGS community. We look forward to working together with WINGS to gather crowd opinions about our IAGON token generation event. Besides that, we strongly believe that WINGS community would only help maximize our social promotion to reach early adopters for our project.
9- Is there anything else you would like to share?
We are proud to have created a strong network of partnerships, adding projects such as Oracle, Ethereum Alliance, Cloud 28+, SUSE, Dragonchain, Tiesdb and many more, to the growing list.
Additionally, IAGON’s Initial Adopter Program has launched, and aims to connect us with the most innovative and creative minds, across every industry, and with similar objectives to those that we hold here at IAGON, which is to revolutionize the industry, whatever industry that may be. At this point, we have added several reputable projects to this program, including, Neureal, IMMVRSE, Bitnautic, TIP Blockchain, Triwer, Cremit and more.
Thanks to Pavlo and the entire Iagon team for responding to this interview!!