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October 7 2017

ICO Alert Report: SENSE

ICO Alert Report: SENSE

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What is SENSE?

There are three key components of the project:
Sensay, A cross-platform messaging application and bot network that allows users and communities to connect through routing them to each other, as needed.
SENSE, among the first blockchain-based smart contracts, via a token which rewards a community of knowledge workers for their conversational contributions across Sensay and/or any other application in the ecosystem.
Humans.AI, a protocol with an API that allows developers to access human conversational data asynchronously or in real time, providing passive or active income to the participants in those conversations.
SENSE Decentralized Network (SDN) is based on three innovations:
1. Conversational Smart Contracts: Automatically create and encapsulate transactional details extracted from conversations to build smart contracts for the delivery of information.
2. Knowledge Attribution: Monetizing of knowledge across decentralized and centralized apps.
3. Conversational Consensus: Confirm value of knowledge transferred via transparency.

Crowdsale Information
The crowdsale begins on November 7, 2017 and ends on November 21, 2017. The crowdsale will happen through a widget that will appear on the website when the crowdsale starts.

On the day of the sale, contributions can be made to the ICO through the widget/tool on the SENSE Token website. The price per SENSE Token is $0.10. There is a soft cap of $10,000,000 and a hard cap of $15,000,000.

Token Distribution Information
There are a total of 1,000,000,000 SENSE Tokens being created. SENSE is an ERC-20 token and Ethereum, Bitcoin, EOS, and other cryptocurrencies through a shapeshift integration are accepted as contribution.

Tokens will be distributed to contributors 3–4 weeks after the end of the crowdsale. There are currently 20,000,000 Sensay coins already in circulation that will be exchanged for SENSE Tokens after the crowdsale is complete.

Allocation
27.5%: Sold across the presale and crowdsale
27.5%: Retained by the company
30%: Retained for SDN, communities, users, and contributors
15%: Retained for future development

Use of Crowdsale Proceeds
The crowdsale proceeds will be used to focus on product development, infrastructure and systems, marketing and community building, security, and general corporate purposes.

Team
Crystal Rose, Co-founder and CEO
Linkedin
Crystal is an entrepreneur with experience in digital innovation. She has her master’s degree in entrepreneurship and co-founded Onvi, a web consultancy and digital interactive agency. Before founding Sensay, she worked as executive producer and head of creative technology for Phenomenon, a company focused on digital innovation for some of the largest consumer brands and companies.

Ariel Jalali, Co-founder and CSO
Linkedin
Ariel worked at Phenomenon as well, acting as the CTO and head of technology. He has held various CTO roles and has experience in entrepreneurship as well. He is a mentor in the Los Angeles area and graduated from the University of California, Los Angeles.

Angel Jose, Engineer
Linkedin
Angel has held various roles before joining Sensay. Most notably, he was president of The JVS Group Inc., a general contracting company that aims to help solve issues with property citations for asset managers.

James Calhoun, Engineer
Linkedin
James is a cryptocurrency enthusiast who has been building web and mobile applications for over five years. Before Sensay, he worked as CEO at fadm, a computer software company that builds web and mobile applications.

Grover Light, UX Product
Linkedin
Before SENSE, Grover worked as a product manager for an application called Hutch and has held various positions as a product designer. In 2015, he co-founded Paper Straw Inc., a computer software company focused on building products to improve digital communication through messaging and broadcasting.

Shaili Jalali, Culture
Linkedin
Shaili is currently the executive director of the Century City Bar Association. She has entrepreneurial experience in the fashion industry and has worked in production and research before joining Sensay.

Kurt Kumar, Product
Linkedin
Kurt is a respected figure in the ICO space and is also a part of the Capital Group team, a fintech investment management firm. He has his master’s degree in computer science and will manage the product as a part of Sensay.

Eyal Toledano, Growth
Linkedin
Before joining Sensay, Eyal owned and operated Digital Founder, a growth roadmap focused on the process behind launching 12 minimum viable products in 12 months. He has worked as a growth advisor for a variety of different companies, as well as the director of growth marketing for Sociable Labs, an advertising and marketing business with a focus on referral services.

Social Media
Facebook: https://www.facebook.com/sensaybot/
Twitter: https://twitter.com/sensay
Telegram: https://t.me/joinchat/AAAAAEQzTJW8N35CcmHlZA
Bitcointalk: https://bitcointalk.org/index.php?topic=2096600.msg20951702#msg20951702
Reddit: https://www.reddit.com/r/SENSEtoken/

Q&A

ICO Alert: How is the SENSE token used within the SENSE platform and why is it needed?

SENSE: The new token SENSE serves as a unit of account for all content, live interaction, bots, program tools, and data contributions across the Sensay platform and other messaging applications. SENSE adds a quantifiable value to the skills, knowledge, and expertise everyone has, enabling trade of these human capital goods in global communities.
In character, SENSE is a decentralized utility token of fixed supply that can be integrated into applications as the transactional layer of value.
The proprietary token is necessary for Sensay to foster the growth of the platform by introducing new products and services. Sensay is the first application to utilize SENSE as a value mechanism to encourage a thriving ecosystem.

ICO Alert: Specifically, how does the Human AI protocol work within the platform, and what is the importance of spoken vs. written language inherent to the protocol?

SENSE: There’s a hybrid web 2.0/web 3.0 approach.
Humans.ai is the open API, the web 2.0 component that oracalizes, stores, and hashes the data. The knowledge attribution and access smart contracts for the SENSE token are the web 3.0 component that record and retrieve the hashes of the attributed knowledge and transact the associated tokens due.
The protocol deals with strings. Spoken word will get converted into written word by each developer who uses voice. Note, there are some limitations on voice platforms processing of freeform audio so they may have to work through those issues independently.

ICO Alert: What else does the Sensay portion of the project accomplish and why would average users care about interoperability across their messaging platforms?

SENSE: Sensay provides a decentralized, transparent, and interoperable messaging platform enabling anyone to chat and unlock transactions across centralized messaging applications in a distributed network.
Messaging data is owned by the platform without giving users control and a value stake. Contact lists are limited and social graphs are owned. Search fails to deliver relevant people when we need them.
Interoperability is important for average users because it allows them to:
1. Access knowledge across different messaging platforms, thus having larger common knowledge repository.
2. Connect the siloed messenger apps.
3. Find relevant people outside your social graph.
4. Have decentralized contact lists.

ICO Alert: What’s a standard example of an interaction on the Sensay application between two people? How is this topic generalized to the larger multi-billion person population that SENSE is aiming to reach?

SENSE: A standard example is users earn tokens via peer-to-peer transactions and systematic rewards — optional tip on a closed conversation.
Other examples:
1. Knowledge attribution in a tipped chat and a recorded and attributed cryptographic hash of that knowledge.
2. Variable, smart-contract based rewards for tipping.
3. Smart contract-based rewards for responding to an incoming request.
4. Reward for consecutive availability.
5. Reward for timely activity.

ICO Alert: The SENSE ecosystem is aiming to have developers and content creators working within the ecosystem. Does the team have any notable partners signed up already?

SENSE: Sensay the company has many partners and was one of the largest chatbots on Kik. We are building one-way links to companies like Reddit and GitHub through APIs/OAUTH that actually store many markets and attributes of knowledge that people or subsets like developers possess.

ICO Alert: What does the roadmap look like for the rest of 2017 and 2018? What can any of the current three million users expect in the form of new additions to the platform?

SENSE: Unlike many projects you see on the market, Sensay actually has a platform in production that is releasing SENSE. Critical functionality and basics of knowledge attribution will be available at token launch. We’ve made some comments about the “future state” that we are targeting in the draft whitepaper and the formal whitepaper just released.
Given the tightening regulations globally, we can’t speak too much about the future and are focused in the whitepaper on current utility.

ICO Alert: How does the app/bot and human interaction work within the SENSE Decentralized Network?

SENSE
SENSE Token and SDN Smart Contracts
Sensay has introduced the SDN, a decentralized and interoperable messenger platform enabling anyone to chat and transact freely across centralized messaging applications. SENSE, an ERC-20 compliant token, serves as a unit of account on the SDN, enabling unique interactions with smart contracts that can provide content, live interactions, bots, program tools, and data contributions across the Sensay platform and other messaging applications. In character, SENSE is a decentralized utility token that can be integrated into applications as the transactional layer of value. At the time of the token sale, users of Sensay who hold Sensay Coins are given a one-to-one conversion for that amount of SENSE tokens.
The Ethereum blockchain is currently the industry standard for issuing custom digital assets and smart contracts. The ERC-20 token interface allows for the deployment of a standard token that is compatible with the existing infrastructure of the Ethereum ecosystem, such as development tools, wallets, and other distributed applications.
SENSE Functionality at Launch
At the time of the SDN launch: a fixed supply of 1 billion tokens are created; 275 million of those tokens are made available for purchase by users in exchange for cryptocurrency (BTC/ETH); certain APIs for Humans.AI are made available for use across the SDN.
In order to demonstrate the consumptive utility of new SENSE tokens for customers at launch, Sensay provides the following functionalities of the new SENSE tokens:
1. A one-to-one conversion of Sensay Coins into new SENSE tokens via external wallets.
2. Checking in knows to attribute knowledge via the knowledge attribution smart contract.
3. Earning in a chat and starting a chat require a token balance for Humans or Me Bots.
SENSE Smart Contracts
At launch, the SDN functionality will involve a main token contract along with the functionality of additional contracts on the SENSE network. The first 3 smart contracts for SENSE available on day one are:
SENSE Token
1. Knowledge Attribution (user has supplied knowledge, and such knowledge remains attributable to the user)
2. Knowledge Access (user has searched for knowledge, and can obtain access to other users with the knowledge sought)
3. These contracts form a full loop on how SENSE tokens enter a user’s wallet and are used to access functionality on the network.
SENSE Token Contract
A user account on the Ethereum network can be thought of as the user’s Ethereum wallet address. This wallet address can hold a variety of Ether and one or more associated smart contracts, including ERC-20 smart contracts for tracking tokens, such as SENSE. Users can come to any application on the SDN and create a SENSE wallet. Developers can also create SENSE wallets for themselves and register with Sensay for credentials to access to the Humans.AI API.

ICO Alert: What current/future methods is the SENSE team using to ensure the user experience within the ecosystem is not so cumbersome or confusing that both new developers and end users won’t want to use it?

SENSE: The company has been building commercially successful consumer facing product since 2014 and will use the same design and abstraction ethos to develop SENSE and ints customer facing technology.

ICO Alert: The SENSE whitepaper is thick with information on the project. If readers are looking for more standard information on the project that is not included in this report, where should they start?

SENSE: The website contains the key information on the project, including the one-pager, the white paper, and links to multiple articles.
We have an updated, more succinct whitepaper up on the site.

ICO Alert: As a non-SENSE question, we like to ask the team for unique predictions for the cryptocurrency/ICO space. Where do you see the industry in 3–5 years?

SENSE: We believe in the decentralization ethos — everything will be tokenized. Allowing blockchain knowledge attribution is a key step to many other blockchain enabled technologies, including distributed identity. Tokens are eating the software that’s eating the world.

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View the SENSE Website here.

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References
(1) SENSE Website, Sensay, (2017)
https://sensetoken.com/

(2) SENSE Whitepaper, Sensay, (2017)
https://sensetoken.com/pdfs/sensetoken_whitepaper_en.pdf

(3) SENSE One-pager, Sensay, (2017)
https://sensetoken.com/pdfs/sensetoken_onepager_en.pdf

Topics: Messaging, Blockchain, ICO, Cryptocurrency, Finance