Cen

Cen

Democratizing AI with Blockchain

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Security Type
Non-Voting Equity
Min Investment
$400
Location
La Jolla, CA
Offering Date
May 15, 2018
Expected Close Date
August 15, 2018
Target Raise
$10.00K-$1.07M
Deal Notes
  • Investment: Class B Common Stock & BIT Tokens
  • $4/share of Class B Common Stock
  • When you invest you are betting the company’s future equity value will exceed $36.5M.
Valuation
$36,500,000

Company Description

Our solution at Cen is the Basic Intelligence Token (BIT) network, an AI system that uses blockchain to run an efficient collaboration between machine and human experts while distributing fair rewards to knowledge givers. The system works by sending questions that are difficult for an AI to human experts, “Minders”, around the world. As these experts interact with the users and answer questions, knowledge is added to a distributed, blockchain-powered knowledge base. User's knowledge is kept with the user in a secure personal store that makes it available to answer questions in the future. Basic Intelligence Tokens (BIT’s) are awarded to those who provide information to our knowledge base. The value of their rewards is judged by the relative value of the knowledge they provide. Our users and partnering businesses will spend the tokens to access either the general knowledge base and can pay extra to talk to human experts for more professional information.

Perks

Invest $1000-$4,996: You will be recognized by the Cen by name and you will receive a bonus of 1 tokens per share.
Invest $5,000 - $24,996: You will be recognized by the Cen as a Cen Contributor and you will receive a bonus of 2 BIT Tokens per share.
$25,000 - $99,996: You will be recognized by the Cen as a Cen Ambassador and you will receive a bonus of 5 BIT Tokens per share.
$100,000+: You will be recognized by the Cen as a Cen Fellow and we will build a Cen prototype to introduce to you or your company and you will receive a bonus of 10 BIT Tokens per share.

Key Deal Facts

Our AI network will be different from other popular AI systems like Alexa or Siri. Our BIT network will lack a central corporate owner. Instead, all services will be provided by the decentralized, global network of people who choose to participate.
The BIT network will protect user data. We will record user information securely in their device or encrypt it in a distributed system so that users can provide their data to services as needed rather than storing data in a central store.
The BIT network will connect computer and human experts smoothly to provide the most efficient knowledge service. The system will work by sending questions that are difficult for an AI to human experts around the world. Many experts 'Minders' are available at any one time so the human intelligence merges seamlessly into the AI sessions.
The BIT network will reward authors fairly. We are creating a system where authorship of knowledge is recorded securely keyed to a blockchain so that their influence is rewarded fairly.

Use of Proceeds

If we manage to raise our over allotment amount of $1,070,000, we believe the amount will last us 6 months and plan to use the net proceeds of approximately $950,000 over the course of that time to build out the prototype, raise awareness of our company technology through PR and execute a much larger capital raised using one of the appropriate processes. 

Management Team / Advisory Board Bios

James Tagg
CEO, President & Director
James Tagg is a serial entrepreneur and award-winning author. He was one of the original inventors of the touchscreen and has founded several companies that specialize in man-machine interfaces and communications. He founded Truphone, the world’s first global mobile network, sending the first SMS over the Internet, making the first mobile phone call over the Internet and developing the eSIM for mobile communications. He holds over 200 patents and his first book, Are the Androids Dreaming Yet? explores the limits of Artificial Intelligence and the differences between humans and computers. He studied Physics and Computer Science at Manchester University and Engineering at Cambridge University. Prior to founding Cen Inc. Mr Tagg served as CEO of Truphone Ltd, a mobile virtual network operator from 2006 until 2009 when he became CTO and then CIO in 2015 until he left in October 2016 to found The Roger Penrose Institute, a research institute studying physics, and the differences between the human mind and computers, where he serves as Director. He founded CEN in Feb 2018 serves primarily as its CEO. He currently divides his time equally between CEN and his job with The Penrose Institute spending around 30 hours per week on each.

Ed Guy
CTO, Secretary & Director
Ed Guy started his career at General Electric and Digital Equipment but joined the VoIP industry right at its inception. He worked initially with Bellcore/Telcordia and then moved to Pulver.com where he built and launched Free World DialUp – the world’s first network to offer free voice calls over the Internet. The ensuing furore led to the Pulver Act which has ensured net neutrality for communications companies over the last 20 years. He is therefore considered one of the fathers of VoIP. He is a serial startup CTO who founded IPeerx, the VoIP peering exchange, in 2000 which was sold in 2006. He was chief architect for Truphone, a mobile virtual network operator, from 2006 to 2014 and more recently from 2013 to the present has been CTO of Uniphy Health, a medical communications company where he works part-time, 30 hours per week the remaining time free to work on startup activities. He has served as a VoIP instructor to Internet2.0 community and FCC and, authored RFC 5456 and related RFCs. He holds a PhD in Computer Engineering and has broad experience in network-based, large-scale & highly-available voice and data systems. He founded CEN in Feb 2018 and primarily serves as its CTO currently dividing his time between CEN and his job with the Uniphy Health.

Erik Viirre
CIO & Director
Erik Viirre is a Professor at the University of California, San Diego (UCSD), in the Departments of Neurosciences, Surgery and Cognitive Science. Dr Viirre has extensive experience in cognitive systems development for interaction between humans and technology. Between 2012 and 2017, he was the Medical and Technical Director of the Qualcomm Tricorder XPRIZE, a technology competition for consumer-driven mobile health platforms with embedded Artificial Intelligence. Dr Viirre has worked on human safety and medical applications of VR and its human factors with funding from the National Institutes of Health, National Science Foundation, US Navy, DARPA, NASA and numerous corporate sources. Dr Viirre has participated in a variety of start-up companies, including Zero G Corporation, 3E Therapeutics and Otosound LLC, which has developed his patented medical device for treatment of tinnitus. He has a PhD in Neurology and is a Medical Doctor, specialising in disorders of the inner ear. Dr Viirre is a practising physician and serves as a Professor of Neurosciences, Surgery and Cognitive Sciences at the University of California, San Diego where he has been since June 1997, this is his primary job. Erik Viirre has served on a consulting basis as our Chief Information Officer since inception in Feb 2018 and spends around 4 hours per week working on Cen primarily as its CIO.

Deal Notes

  • Investment: Class B Common Stock & BIT Tokens
  • $4/share of Class B Common Stock
  • When you invest you are betting the company’s future equity value will exceed $36.5M.
Amount Raised : $135,700
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Security Description

Non-voting stock is stock that provides the shareholder very little or no vote on corporate matters.

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