THREE QUESTIONS TO BLAISE CAVALLI AND PIERRE COLIN, CO-FOUNDERS NYCTALE
They are our clients, our friends, good contacts or just people we met in the crypto-community. They have new vision, they are running great projects, they are developing new services or they just want to share their story. Once a week (maybe more or maybe less depending of your feedback!), Havas Blockchain will interview key people of the blockchain ecosystem.
Let’s meet today with Blaise Cavalli and Pierre Colin, cofounders of Nyctale.
First of all, can you present us Nyctale ?
Nyctale develops big data and artificial intelligence solutions to monitor blockchain technologies and to analyze token usage. We measure the adoption rate of blockchain services and we characterize the associated communities. Our tools tackle the poor readability of blockchain transactions: we support blockchain startups, investors and companies that are exploring this disruptive technology to understand their users behaviours.
Blockchain ledger hasn’t been conceived to ease the extraction and the interpretation of transactional data. But actors need adapted tools to monitor blockchain use cases and operate services. We deliver dashboards to reveal strategic insights hidden within blockchain, to perceive the use case’s added value and to optimize the design and the operation of these advanced networks.
What can we learn from a data analyse of the token economics of any tokenized project ?
Blockchain open up a new era for data science and business intelligence in the way it record every single action of every single actor on every single network. With the rising blockchain adoption, it will produce high value data in a bigger scale than current social media platforms.
Currently, we are able to correlate the evolution of token valorization with the network activity. Some specific actors are definitely responsible of speculation spikes. We observe the behavior of investors, with a global decrease in the network activity due to the bear market, correlated with a strong centralization trend. Number of active actors is decreasing, and crypto-whales are consolidating their position.
For instance on the Ethereum blockchain, we note a low network activity related to products usage. Speculative behaviors form the vast majority of transaction: most of projects are failing to create a substantial growth on their adoption due to the technology low maturity, user experience issues and current bear market. Exchange platforms keep their head above the water to meet the demand of speculators and investors.
How do you analyze the role of exchange (centralized vs decentralized) ?
Exchange platforms’ activity is currently creating highly centralized schemes on the blockchain networks. Their wallets are monopolizing almost all crypto-assets within networks and this is producing really biased outcomes for every kind of statistics about the wealth distribution in the crypto-industry. A lot of studies are missing this point : what is the meaning to say that a few number of wallets are holding a high percentage of value within Bitcoin network if you don’t know what wallets belong to exchange platforms ? Our tools tackle this issue too.
The emergence of decentralized exchange platforms will progressively change these schemes, without taking away from us our ability to monitor the exchange platforms activity. Wallets will be directly connected by trades, but the used smart contracts will keep the trace of the transaction typology. This is a good example of the power of blockchain and smart contracts. Each type of transaction is labeled, and we are really able to segment the different use cases as well as to clusterize wallets behavior.