The ORS Group aspires to combine the power of AI with blockchain and make it accessible for smaller businesses, so they can optimize their business workflow and pretty much every operation within their organizations. ORS ICO introduces HyperSmart Contracts which provide access to more than 1,000 proprietary algorithms.
ORS defines its HyperSmart contracts as the next generation of Ethereum smart contracts. Ethereum smart contracts have become a generic term as a result of the huge blockchain hype. It’s recognized that Ethereum has its limitations and smart contracts on the Ethereum platform are insecure, as we witnessed with the DAO hack. Solidity, the smart contract programming language, has had numerous vulnerabilities reported, which has already led to the loss of millions of dollars in the ecosystem.
The ORS Group’s goal is to improve mixed value chains, as it’s extremely difficult to reach maximum efficiency in terms of optimal distribution of goods/services within the value chain. A value chain consists of three major “flows”: (1) flow of goods and services; (2) flow of payments; (3) flow of information. Artificial Intelligence algorithms can already optimize the flow of goods, but nobody has been able to solve the issue of trustless participants not sharing information and payments in the most efficient way.
Let’s introduce the use of HyperSmart contracts.
HyperSmart Contracts are smart daemons with an associated Ethereum account which run AI algorithms off-chain to find solutions for complex optimization problems using data stored on-chain. These smart daemons can also release instant payments optimizing the three major flows that constitute a value chain.
Let’s clarify this using an example. Consider a farmer struggling to sell his produce competitively and who needs to make decisions on volumes of crops to be planted, timing, delivery logistics, etc. HyperSmart contracts can empower the farmer’s business by using optimal data collection from a variety of sources, such as weather forecasts and soil quality, and run algorithms for predicting crop yields as well as for dynamic pricing optimization.
In this example, the blockchain can be used to provide transparency across the whole food chain. This gives the farmer an advantage as consumers now have a new ability to easily check the uncorrupted quality of the farm’s biological products. Also, if the farmer gets paid via cryptocurrencies, no distributor can ever abuse his position of power by not paying him on time.
The marketplace is part of the platform for buying and selling ORS services, which are Hypersmart Contracts, A.I. algorithms and solutions, and other digital assets. The ORS Group will provide a vast number of algorithms, and third-parties will be certified to upload their own AI algorithms, provided they meet a minimum level of quality and reliability.
ORS Group considers it has a unique product and suggests they are also uniquely positioned due to their strong history.
The utility of the token derives from it being the key to access the proprietary algorithms that are placed on the blockchain. You will be able to buy these services using the ORS Token (ORST). One, or more, of the algorithms, will be applicable to almost any business model across industries.
Background and Status of Product
ORS is a well-established company with over 20 years of experience delivering sophisticated AI and software solutions to demanding Fortune 2000 clients. The pool of algorithms is already in use, saving ORS’s clients millions of dollars every year. The ICO is required to upgrade the existing solution and integrate it with blockchain technology.
The company was founded by their visionary CTO Pierluigi Riva around 20 years ago, after completing his PhD in Operational Research, the science of optimization through math. During his studies, he discovered the value in providing software that would help various businesses become more efficient in their operations and processes. Since then, the ORS Group has offered such products to a large international client base. Their team of over 100 scientists and IT developers includes mathematicians, econometricians, physicists, economists and other experts in the fields of science.
– Fabio Zoffi is a serial entrepreneur and international investor. He is the President and Executive Chairman of the ORS Group and a pioneer in the intersection of A.I. and Blockchain technology.
– Bryan Woods is an expert in Ethereum Smart Contract development. He has worked on six previous ICOs and developed his own identity management solution based on cryptography.
– Antonio Vetrò is a Project Manager at ORS S.r.l. Has was Director of Research at the Nexa Center for Internet and Society at Politecnico di Torino (Italy) from 2015 to 2017. Formerly, he was a research fellow in the Software and System Engineering Department at Technische Universität München (Germany) and a junior scientist at Fraunhofer Center for Experimental Software Engineering (MD, USA). He holds a PhD in Information and System Engineering from Politecnico di Torino (Italy). He is specialized in empirical methodologies and statistical analyses, applying such an empirical epistemological approach to study the impact of technology on society.
- The ORS Group is a strong and well-established company.
- Small business processes are often not fully optimized. Providing them with sophisticated AI solutions can help them to become more efficient and save money.
- The solution uses off-chain calculations in combination with on-chain data storage.
- It’s not an easy task to bring HyperSmart contracts to a farmer or other non-technical people.
- Finding a suitable algorithm for the optimization problems of a particular business isn’t always feasible.
A combination of AI and blockchain can bring many new opportunities for existing businesses. In addition, by using the AI algorithms organizations can make better decisions and therefore save money by optimizing their processes. The ORS Group has successfully collected €10,000,000 during the private sale.
For more info
ICO launch date: April 28, 9 am CET