The first thing one finds when they begin to travel around the world is that communicating with your fellow human beings is not as easy as it seems. While the vast majority of languages that surround the globe may seem romantic as it helps define people’s culture, it does have one large negative effect, miscommunication.
The first thing one finds when they begin to travel around the world is that communicating with your fellow human beings is not as easy as it seems. While the vast majority of languages that surround the globe may seem romantic as it helps define people’s culture, it does have one large negative effect, miscommunication. Languages are a special thing and it would be a shame to loose some of the beautiful languages of the world over time in order to integrate into one. But one thing is clear, the fact that we cannot communicate does hamper human development and hinders the ability to form meaningful relationships on a personal and corporate level.
It is most important that we try to create technologies that remove the barriers to communicate; for if people of a wide range of cultures were able to communicate and work together, forming personal and business like relationships, a lot of the misunderstandings between cultures can be reduced. It is this lack of communication between cultures that can spawn hate groups within our society.
It is with this in mind that it is important to support such projects such as Anryze.
Anryze is currently holding it’s ICO for the first decentralized speech recognition platform. Anryze is attempting to fix the language barrier by creating a service where people can pay for speech recognition services through the use of the Anryze token.
As it stands, there are speech recognition services such as, Google Speech and MS Azure, however, the results can be unsatisfactory and expensive. According to Anryze’s whitepaper, Anryze’s speech recognition technology is already competing alongside some of the biggest companies in the game. But Anryze’s system has just begun, for once it becomes decentralized, the speech recognition is to be powered via miners. This will be the very first of it’s kind. Miners that decode speech via its mining power will be rewarded for its efforts for it will receive 70% of revenue from clients. A further 30% will be distributed to token holders, 10% of which is held by the Anryze team itself.
While it is almost impossible to get speech-to-text 100% correct, Anryze is aiming to get it as close as possible. According to the whitepaper, the process goes like such;
“The common way how Anryze recognizes speech is the following: we take the waveform, split it on utterances by silences then try to recognize what is being said in each utterance. To do that we want to take all possible combinations of words and try to match them with the audio. We choose the best matching combination.”
Currently, Anryze’s software currently works in Russian and English, with Chinese, Spanish and German to be added. According to the website, Anryze already has several clients, most of which are located near their office in New York. Speaking to wavescommunity.com, Mikhail Yezhov stated,
“We believe in the future of our technology since it allows us not only to compete with global giants such as Google and IBM, but also to surpass them thanks to our dramatically lower prices – we charge around a third as much, without loss of quality. The market shows growth of 12% annually, and even without the growth of our existing customer base, we anticipate an increase in transaction volumes of 5-7% monthly. We are already working with American brokerage houses, and we are currently conducting negotiations in Russia. Our market is in its early stages and still establishing itself, and its potential is yet to be fully unlocked.”
The ICO has already begun and can be found at tokensale.anryze.com. The team is hoping to raise over 6 million dollars with a minimum of 1.6 million. The token will also be hosted on the Waves Platform under the token RYZ.