Technology and innovation is an industry that relies almost entirely on research and development, where trailblazers strive for the next breakthrough. There’s no space for impediments that could hinder progress here, such as the ones that can be tackled using time data.
- There has been a long-established link between capitalism and technological research. Capitalists deploy funds in order to incentivize researchers to develop novel solutions that can improve the efficiency of specific industrial processes. This funding can come from a range of sources, from individuals to corporations and governments. Fundraising is a complex topic, made less efficient by the lack of a central resource to match researchers and funding. There are few existing mechanisms to efficiently match desired research outcomes with researchers capable and willing to work on the problem.
- The Analog API is an ideal resource through which to match funding and researchers, improving the efficiency of capital deployed and ensuring the most pressing issues are visible. For example, if an industrialist or government has a technological problem to be addressed, they could lock ANLOG tokens in escrow within the Analog smart contracts. Their project and related information could be searchable on the API and the escrowed ANLOG tokens can be released to researchers who achieve specified and related milestones (ie. accepting to work on the issue, stages of development, patents raised etc).
- Similarly, researchers can request funding via the API by pitching their project with stated aims, costs and expected outcomes. Again, this could be searchable and if funding providers are interested, they can be matched through the API interface.
- The intellectual property underpinning technological breakthroughs are usually protected by patents. The system for applying for, registering and maintaining the details of patents vary by jurisdiction but is often a complicated and obscure process. There is often a lack of visibility over who owns a patent and what a patent explicitly covers, making the intellectual property rights hard to protect and enforce. Lack of confidence in patents can hamper technological development by disincentivizing researchers from pursuing novel technologies that they may not be able to protect.
- The time-bound and immutable properties of the Timegraph make it an ideal medium onto which to upload patent data. Serving as a central repository, it will add transparency as to who owns the patent, what it covers, when it was filed and when it is valid until. This data will be accessible by anyone with an internet connection and there will be no need to go through a centralized body such as a government office or law firm.
- The Analog API can also be utilized to improve the searchability or readability of this complex data. For example, a user could search for a specific type of patent and quickly obtain a detailed listing of all the data filtered or presented in a pre-specified manner.
- Non-fungible tokens (NFTs) are digital representations of online and real-world assets such as art, music and real estate. From 2017 onwards they have crossed into mainstream consciousness in the form of collectibles, art pieces and other use cases. For example, NBA Topshots playing cards and Crypto Punks collectible avatars both saw explosive growth in userbase and value in 2021. This trend is expected to continue in the coming years as people spend an increasing amount of their time and money online in the Metaverse. While the value of NFTs has largely been accepted, the infrastructure around their storage and curation remains unrefined. While some marketplaces do exist, there are often complaints about poor UI and difficulty in executing certain features.
- The forthcoming Analog Timechain has the technical capacity to support the minting and storage of NFTs. dAPP developers can be incentivized to develop top-class front-ends through which users can store, view, curate, sell and search NFT collections. The low fee nature of the chain makes it an excellent alternative to Ethereum based marketplaces, whose reliance on ETH makes them extremely expensive to transact upon. As a relatively new chain, existing infrastructural roadblocks are non-existent and there is an excellent opportunity to make market-leading dAPPs from scratch.
- Technological breakthroughs often come as a result of a collective effort, as opposed to from lone researchers. As with any team effort, scheduling and coordination is both crucial and difficult to implement. Failures of certain team members to complete deliverables on time can have downstream impacts like delays or process disruptions for other team members. Similarly, a failure to effectively communicate findings or issues may result in extra efforts spent working on incomplete data or in a sub-optimal fashion.
- The Analog API is ideally suited for coordinating team efforts, and ultimately improving the efficiency of research teams. All team members can utilize a pre-designed interface that serves to host the team’s meetings, deadlines and key deliverables in one place. Team members can be notified of upcoming expectations on their time or similarly can be notified should they be off-track in terms of providing deliverables. ANLOG and the smart contract can also be utilized to reward desirable behaviors (attending meetings, completing work on time) or penalize tardiness.
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