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Interview with the CEO and founder of Altumea ICO

By Paula
Published over 2 years ago

Altumea is a blockchain-based decentralized open-market platform for GPU-powered computation. It aims to be something like Airbnb for computing power – anyone with a spare or idle hardware could rent it out for a fee to anyone who needs to perform large-scale calculations. We got a chance to interview the founder and CEO of Altumea, Andrew Nikolov.

Hi Andrew, nice to meet you! Tell us about yourself and your experience. 

I’m the founder and CEO of Altumea and the director of Bulgarian branch of international computer academy. I have more than two decades of experience in tech management and investment as well as human resources, Web 2.0, strategic marketing and corporate communications. 

In your own words, what is the goal of your project? 

We have set an ambitious goal to change the GPU cloud computing market. Altumea platform aims to connect researchers, artists and engineers looking to buy processing power for high-performance computing, deep learning and AI with GPU owners.  From one side, it will enable miners, gamers and other owners of modern video cards to additionally monetize their equipment. From the other, people and institutions who need to perform large-scale calculations will buy the computing power at an affordable price, not from gigantic, closed data centers, but from ordinary people who own almost unlimited capacity. 

That sounds interesting. So you think your project can help science?

I definitely believe so. I saw some great ideas that had to be put aside because of the lack of computing power. We want to provide our colleagues, scientists, artists and data miners with all the necessary resources so that they can easily afford it.. 

You work in IT education, how did you come about the idea of blockchain project?

The academy experienced the same problem we are trying to solve from both sides. We train digital designers, professional software engineers, cyber security and machine learning specialists. Of course, we need a lot of GPUs and we want them to be up to date. But prices of equipment jumped sky-high because of the mining hype. We tried to rent GPUs, but it was either too complicated or too pricey. That was when we recognized the problem and determined to find a solution. 

Eventually, we bought some equipment, pretty expensive. Of course, it does not run 24/7 and we started to discover additional ways to monetize it. We already knew the demand for computing power was high, we felt it as well. That triggered an idea: what if usual owners of equipment, would be able to sell the computing power directly to those who need it — universities, researchers, and artists. 

As far as I know, there are other projects dealing with distributed computing. Golem, for example. How does Altumea differ from them?

First of all, our focus is on GPU computing. We provide a decentralized network for this purpose and this is what makes us different from Golem, the project that deals with general CPU computing. Besides, we provide a ready-to-use tool for computing and an open repository of calculations scripts. As far as I know, no other project offers this solution. 

You are now in the middle of ICO. What do you plan to do afterward? 

We’re raising funds to build and launch the platform and have plans to implement distributed CUDA calculation prototype and distributed data transfer processing this year. We are not in a big rush, we would rather get everything right than rush. 

Together, with the product development, we will build a community of GPU owners (miners, gamers, artists) who will be the beta testers of the platform. We also plan to partner with scientific institutions and universities, who will receive preferential terms to purchase GPU computing power.

And how will the platform make money? 

Since we build the open-market platform that connects sellers and buyers of GPU computing power, Altumea will receive a certain amount of commission from these transactions. It will use blockchain smart contracts for payment inside the network and MEA tokens as the currency.

The last question is a tough one. Why should people invest in your ICO? Why will you do well?

We know the problem we are aimed to solve. We are focused on the GPU calculation and we know how to implement them. The technologies we are going to use already exist. That guarantees that everything will work when we connect the dots. Besides, we have a very talented team from around the world, many thanks to academy’s communication resource.

Check out the Altumea listing: https://thetokener.com/ico/altumea