It’s no secret that we live in the age of information. Social media has spread all around the world, enabling millions of people to create content, thus generating a colossal amount of information every day. All this information can be analyzed and turned into sentiment data, which is used for marketing purposes.
Sentiment data is a highly valuable resource used by companies to make sure their marketing decision will lead to desired outcomes. The ability to choose the right joke for the advertisement can make the video go viral, which can mean success for the advertised product. However, sentiment analysis is usually unaffordable for medium and small-scale companies. Moreover, the data stored on centralized servers is not secure and the sentiments algorithms employed by centralized companies are not transparent.
Senno aims to target all these issues by putting user sentiment data onto the blockchain. Capitalizing on the decentralized structure of blockchain technology, the developers plan to significantly reduce the cost of sentiment analysis, making it accessible to a wide range of businesses. The company claims that sentiment analysis performed on the blockchain is resistant to manipulation and transparent.
The SENNO token will have multiple uses. People who submit their data for sentiment analysis engine will be awarded SENNO token. The token will also be used by companies who want to purchase the analytics data. The product will include an open API which makes the plugins easily customizable by the developers, who will be given tokens for creating new features for the platform. The user will be able to access their sentiment analytics via an app, which also serves as a wallet. It also functions as a marketplace of sentiment analysis tools covering different industries, for example, medical or financial. The app will also allow users lease their hardware resources to help run the platform and get paid with tokens in return.
When conducting sentiment analysis, Senno produces two main calculations with this process: buzz and mood. Both results are determined by a set of complex equations which are published in Senno’s whitepaper. Buzz is the measure of how much discussion is occurring about the topic. Mood is a measure of sentiment value for the topic, which ranges from negative to positive.
Senno is led by Elad Peled and Rudy Zakuto. Peled previously founded LibraTrade, a company that developed the first-ever smartphone trading platform. Zakuto has extensive experience in the area of cybersecurity blockchain implementation. The team features an impressive list of advisors, such as Ophir Gertner, the founder of Stox, and Marc Kenigsberg, the founder of Blocksmarter and CoinJanitor.
The project is at a pre-launch stage, so there is no MVP, which is a major risk factor. However, there is huge potential for growth, as the companies start to understand the importance of sentiment analysis and begin to incorporate it into their marketing practices. The whitepaper is brilliantly written and the company representatives are actively communicating with the community that the project attracted. Another advantage of the company is the multiple uses of its native token, which allows for different revenue streams. The project doesn’t have any strong competitors yet, so as long as the developer team sticks to the outlined roadmap, the investors and customers will be easy to find.
All Senno ICO ivestment details are available on our site.