Name of Project:
ITRMachines
Proposal in one sentence:
Development of a wrapper library that will allow a direct integration between the Ocean marketplace and the tensorflow.js library for artificial intelligence.
Description of the project and what problem it is solving:
Our software solution will allow AI developers to quickly access datasets from the Ocean marketplace and integrate them using Tensorflow to implement their custom AI models in a seamless way. Given the increasing demand for data and AI, our solution will increase the exposure of Ocean and will increase the network revenue by attracting multiple new users to the marketplace. ITRMachines is a tech enabler of DeFi activity, leveraging Data and Artificial Intelligence while boosting innovative business models within the DAO/Web3 Space. ITRMachines solutions have been deployed for several blockchain verticals such as market making and algorithmic trading, NFT valuation algorithms, data collection, structuring, and tailor made developments for smart contracts and oracles.
Grant Deliverables:
- Development of a wrapper library that will: integrate the current functionalities of the Ocean.js library (publishing datasets and selling data over the blockchain, token acquisition -value swap- , dataset downloading, etcâŠ), provide several useful data transformation methods and provide a seamless funneling process for integrating that data with artificial intelligence computational models built using @tensorflow/tfjs.
- Development of the technical documentation of the library.
- Announcement of wrapper library integration in the Tensorflow forum.
- One (1) workshop for AI and Ocean developers to introduce the wrapper library.
Which category best describes your Project?
- Build / improve applications or integrations to Ocean
Are you applying for an Earmark?
- New Project
What is the final product?
The final product will be a software solution that will allow the developer to recall bought datasets from the Ocean marketplace, and transform them into something that can be used on one of the most known libraries for artificial intelligence: Tensorflow (in this proposal we will limit the scope of the library to Tensorflow.js, the javascript version of the famous library Tensorflow). Once developers have a framework that they can use to seamlessly connect their data to their models, their only concern would be to refine them, speeding the process of production and development of interesting projects that will be native to the Ocean ecosystem which will help grow the marketplace and the web 3 ecosystem as a whole.
Tensorflow also comes with the advantage of having an enormous amount of support by the artificial intelligence community, developing a tool for the integration of Ocean datasets will incentivize the engagement of this community with the Ocean ecosystem.
Usage of Ocean:
One of the main traction pillars that will determine the growth of the Ocean Ecosystem is the data consume volume.This can be defined as the number of times that a data asset was consumed times the price of the data set in $OCEAN. Our Tensorflow solution will allow developers to easily build with Ocean libraries and integrate their AI flows in a simple fashion, improving the developer experience and increasing the exposure of the Ocean ecosystem as a whole.
Why do you believe your team will do well on those criteria?
ITRM is an established AI and big data company that has successfully provided FinTech solutions to multiple big institutional players in the past. Our AI driven algorithms have managed around 180 million USD through the prop trade desk of one of the major Colombian brokerage institutions. This goes in line with the deployment of multiple best execution and AI algos focused on capital markets for different international brokers, including crypto exchanges.
ITRM has been recognised and funded by the Colombian Government accelerator, Aldea-INNPULSA and was showcased as one of the most scalable and innovative ventures in the region. Regarding the DeFi space, the algorithms developed by ITRM together with the MetaGameHub DAO have generated over 25.000 API requests for NFT valuations showing the high demand for the solutions being developed.
Expected Value for the OCEAN Ecosystem:
As of december 28th 2021 there were 36.850 downloads of the tensorflow.js library. Assuming 1% of weekly downloads of tensorflow.js library represent unique users, we estimate there could be 370 interested buyers (buyers_week) of datasets per week. Additionally, at an average price per dataset of 100 $OCEAN (avg_price), an average number of 2 datasets bought per user (datasets_week), 4 weeks per month (weeks_per_month), and a total fee of 0.7% (fee) which comprises ocean community (0.1%), Marketplace Consume-side (0.1%), and liquidity providers (0.5%), the monthly value created for the Ocean ecosystem will be:
buyers_weekdatasets_weekavg_picefeeweeks_per_month =
3702100*0.7%*4= 2072 $OCEAN / month from data acquisition.
=> Overall value added to Ocean Protocol in 12 months will be 12 months*(2.072 $OCEAN /month) in fees for the ocean ecosystem.
=> Expected Value= 24.864 $OCEAN.
The monthly revenue should continue to scale much longer than 12 months considering the mass adoption of tensorflow as the main library for AI and the rising interest to analyze the crypto space.
Keep in mind that value added by creating publicity for the Ocean Marketplace and in general the Ocean Protocol on our social media and through our community comes on top of that. Setting this aside, we will focus on educating the Ocean and Tensorflow community by creating content on how to use the wrapper library.
Funding Requested:
3000 USD ~= 3157 $OCEAN (0.86$ / OCEAN)
Proposal Wallet Address:
0xb74e2ad2a794caeeb32b4bfcae64088a591b1216
Have you previously received an OceanDAO Grant (Y/N)?: No
Team Website: http://itrmachines.com/
Twitter Handle: https://twitter.com/itrmachines
LinkedIn: https://www.linkedin.com/company/itrmachines
Project lead full name:
Santiago Hernandez
Project lead Contact Email: santiago.hernandez@itrmachines.com
Country of Residence:
Colombia
Core Team
Santiago Hernandez
- Role: Co-Founder and Fullstack Developer
- Relevant Credentials (e.g.):
- Background/Experience:
- CTO at Intelligent Trading Machines
- Developed crypto-arbitrage bots on multiple platforms
- Developed a full out of the box solution for FIX protocol trading algorithms
- Proficient at developing oracles for smart contracts
- Lead developer and main maintainer of microservices architecture for several fintech enterprises.
Camilo Alaguna
- Role: Co-Founder and AI and Data Science
- Relevant Credentials (e.g.):
- LinkedIn: https://www.linkedin.com/in/camilo-alaguna/
- Github:https://github.com/camilourd
- Background/Experience:
- Lead Data Scientist at Intelligent Trading Machine
- Developed AI models for tools and bots that trade on multiple brokers
Andrés Fonseca
- Role: Co-Founder
- Relevant Credentials (e.g.):
- Background/Experience:
- Founder & CEO at Intelligent Trading Machines
- Founder & COO at Elemento Alpha
- Four years of experience in banking industry
Sebastian Rocha
Role: Co-Founder and Operations
- Relevant Credentials (e.g.):
- Background/Experience:
- Founder & CFO at Intelligent Trading Machines
- Founder & CFO at Elemento Alpha
- Four years of experience in asset management industry
Part 3 - Proposal Details
Details:
The current data market is highly fragmented due to the oligopolistic market power of tech giants like Facebook and Google, making this valuable asset very difficult and expensive to access. Furthermore, with so large amounts of data floating in the market, it is necessary to use technologies such as AI and machine learning to extract the information needed to achieve significant results.
As artificial intelligence advocates, one of the most important parts of our work is the seamless acquisition of large amounts of high quality data. On some occasions, this activity becomes a difficult task. Here is where the Ocean marketplace comes into play. With its decentralized approach for aggregating and monetizing data, anyone has the ability to buy and sell datasets and algorithms via liquidity pools in a permissionless and transparent way. Therefore, by connecting the Ocean capabilities with AI development frameworks, Ocean will be made accessible and easier for the development of AI applications.
The Ocean marketplace allows the buyer of the data to experiment, train algorithms, use that aforementioned data and datasets for multiple purposes, following suit, we intend to maintain the spirit of the marketplace and provide a software solution that will integrate several technologies together and will expand the possibilities of every developer that wants to take full advantage of what the Ocean marketplace entails.
Our software solution will allow AI developers to quickly access datasets from the Ocean marketplace and integrate them using Tensorflow to implement their custom AI models in a seamless way.
Technical stack:
Our technical deliverable is based on the development of a wrapper library that will take advantage of the current state of the Ocean.js library and Tensorflow.js with the intention of creating a bridge between existing technologies and offering a plug and play solution for data scientists and artificial intelligence enthusiasts. The library will be developed using Typescript and will implement some useful methods for data transformation, modification and later consumption with the Tensorflow.js library.
App will be live at:
The production grade version of the library will be available as a npm library, ready for downloading as requested by the users.
Is the software open source?
Yes
The wrapper library will be available at: https://www.npmjs.com/ and it will be open-source. The license will be: Apache-2.0.
Project software can be found at:
The github repository of the library will be: https://github.com/itrm-team/ocean-tensorflowjs
Project Deliverables - Roadmap
Prior Work: The team has been working since October 2018 on the vision to make Artificial Intelligence available to everyone. During the process we have created tools for the development and deployment of AI Solutions for institutional investors in Latin America, within a SaaS business model.
We have identified the difficulties that data scientists encounter when they want to create an AI model with the datasets available on the Ocean marketplace. The main problem is the lack of integration with the development frameworks available in the market and that is exactly what we want to solve with the wrapper library. The decentralization spirit of Ocean brings a market opportunity in which anyone with the datasets and algos available on the marketplace can create AI solutions to foster the further development of the data economy.
What is the project roadmap?
Q1 2022:
- Technical
- The npm library will be published by the 21th of february, until then we will work on the methods and technical requirements of the library for guaranteeing the functionality.
- The repository will be available from day 1, so the community can track the development process and share insights.
- Communication
- Two explainer videos about the wrapper library
- One workshop introducing the library to developers of the Ocean ecosystem
- One weekly post about the Ocean marketplace on our LinkedIn during one month
- Announcement of wrapper library integration in the Tensorflow forum.
- Addition of a section specifically designed for the Ocean Protocol on our website.
Future Plans and intentions:
Once all the development frameworks are integrated with the Ocean protocol, we will create a Dapp in which all the development steps can be done in a unique place. Our experience in being providers of AI as a Service solutions to institutional investors, gives us a competitive advantage in the understanding of every requirement needed for the creation of AI models. As ITRMachines continues to grow, we want to become a technological partner of great value for the Ocean ecosystem.
