Data has become the new oil of this digitalized world
One of the main discussed topics in mainstream media so far this year, is data. The usage of my data, how much of it companies collect, do they sell it or not, should I privatize my data? These are some of the questions that describe the ever-increasing awareness around the power and value of data. For consumers and users, data is a very private thing that most people don’t want anyone to have or know, but for companies, data has become a very valuable asset, it has even been called the new oil because of how valuable it is for certain companies. Data is so valuable that companies often squeeze as much data out of their users as possible without causing an uproar. Sometimes, however, an uproar does occur just as we saw with Facebook earlier this year. Despite users being the ones generating this valuable data, they don’t get anything in return for doing so, only targeted ads. But did you know, that even though this data thing sounds so amazing and profitable for companies, there is still around 600 billion dollars worth of sensor-generated data being locked away for no use every year? That’s a lot of money, and it is that exact money, a new startup by the name of DataBroker DAO, is coming for. They are creating a marketplace which allows owners to sell sensor data generated by IoT devices, and on the contrary, allows those who benefit from the data to buy it. This means that anyone with an IoT device that generates sensor data can earn some extra crypto simply by selling it on the marketplace instead of letting it go to waste.
Ensuring all data sold on the platform is authentic
One of the concerns of running a marketplace such as the one Databroker is creating, is people selling fake data. Especially when people are dealing in cryptocurrency, it’s not easy to combat illicit behavior because transactions can’t be reversed. This is why DataBroker DAO has created a system around their own token (DTX), which combats the act of selling fake data. When a user is selling their data on the marketplace, they put up a collateral of their own choice, but it has to above the minimum amount. If bought data turns out to be fraudulent a dispute can be opened by the buyer after which a DataBroker DAO operator will verify the claim. If the buyer is correct, he receives the collateral put up by the seller in order to repay some of their losses. However, buyers can’t just make claims on all purchases without consequences, buyers themselves also have to put up a collateral which is sent to the seller in case the data actually is authentic and the claim fraudulent. This creates a unique environment where people it’s most beneficial for people to be honest about their actions. Besides from being used for the collateral system, DTX tokens are also for making regular payments on the marketplace.
A beta version of the DataBroker DAO marketplace has already been created, if you wish to check it out, just follow this link: https://dapp.databrokerdao.com/
To fund their project, DataBroker DAO is raising funds through an initial coin offering (ICO), selling their ERC20 token DTX. These tokens will be essential to the use of the marketplace as described above.
The token sale started on the 26th of April
The token sale ends the 26th of May
4000 DTX = 1 ETH
- Maximum amount of tokens minted is 225,000,000 DTX
- A maximum of 108,000,000 DTX will be for sale during the ICO
- Hard cap is 108,000,000 DTX
To view the entire team, learn more about them and their advisors, visit the official website at: https://databrokerdao.com/ or read their whitepaper here: https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
Bounty Thread: https://bitcointalk.org/index.php?topic=2909180.0
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