The Databroker ICO has been going well, you can see my post was originally posted on Steemit here:
The Internet of Things is certainly making a major impact with more devices coming out
that make full use of this technology. However, one thing that can often be overlooked is
the data that is available from the devices and the way in which certain things can be
monetized. It is the intention of Databroker Dao to offer such a service while using both the
blockchain as well as cryptocurrency but further explanations as to what they are doing is
going to be required.
What is Databroker Dao?
The new project states that it is an organization which is fully decentralized and is seeking
to take advantage of improvements in IoT technology. As the company states, we are
surrounded by smart objects every single day, including our smartphones, and these
devices collect data via sensors. However, most of that data is then lost and vanishes
whereas it does contain a lot of information that may prove to be useful to a number of
The Databroker Dao company is seeking to turn that data into a revenue stream, so while
they are not the only company to look at doing something with data, they are certainly
attempting to go about things in a different manner. They hope to create an open
marketplace where that data can be traded with their digital token operating as the main
currency for those transactions.
The Technical Aspect of the platform
As we said, the company operates on a decentralized network and are looking at
distributing data via an online marketplace. This will take place on the blockchain offering a
degree of security along with anonymity, which may prove to be rather important for some
Their marketplace will bring together the owners of the sensors, those that process data,
and finally the companies that require the data for their own individual purposes. It
becomes clear as to who is going to be able to generate the revenue from the data, and
there are various ways in which this can be achieved.
Say you have a fitness tracker on a smart device. You would be able to sell the data that is
captured to a company that may be involved in marketing or advertising. On the other
hand, if you are seeking to purchase data from smart objects and wish to do so according
to certain demographics, then you are also able to do just that.
The company states that there is a vast amount of data out there on these devices that
has remain unlocked. They even state that somebody such as a farmer would be able to
purchase data about the weather to then use to plan what they will do next.
This all takes place via the blockchain when it comes to data being transmitted to different
parties. This provides security as well as incorporating the customary anti-fraud measures
as well as allowing the owner of the data to select who gets access to what. This sense of
control is only available via these means as is the anonymity that it also then provides.
Also, the platform that they use is built on Ethereum, and their token is an ERC20 token.
This then allows people to use their own Ethereum based wallet opening up the door to
even more users than before.
The Advantages of Databroker Dao.
The advantages of this project are clear. The data that is held by a huge number of
individuals is worth something to various companies. The new project not only allows that
data can be used, but it also offers rewards for the owners rather than them missing out.
This is not new as data is being bought and sold via the blockchain on a regular basis, but
they are focusing on smart devices and the data held on sensors which is proving to be a
previously untapped source.
The Financial Aspect and the ICO.
The financial position is also very clear but to take part in the ICO they are only accepting
ETH as the currency. Furthermore, they have set a hard cap of selling 108,000,000 DTX
with that being the token that they have created.
At this moment, the exchange rate that they have set for the ICO is 4000DTX for 1ETH
which gives an indication as to how much they are hoping to raise. They are also looking
at distributing 48% of the total number of tokens during the ICO. Included in this are a
range of bonuses depending on the time at which you purchase the tokens, and there is
also a referral bonus of 5% of the tokens that are sold.
Databroker DAO Conclusion
Overall, the concept that’s been put forward by the new platform looks good. There’s real potential to the data that they’re planning to put on an online marketplace.
So far this area has remained relatively untapped, there’s been a few similar blockchain based projects but so far the market is still fully up for grabs. With the growing number of smart devices it looks like a huge market to enter.
Their new token will act as the utility token behind the platform which is always good as it adds extra demand to those looking to speculate on it. As with any ICO the real challenge will be getting the initial users to sign up to the platform, however with so many people already interested in the token sale it looks like they stand a good chance.
Overall this ICO certainly looks worth doing more research on, there’s also no minimum investment so it’s good for those looking to get involved with a minimal amount.
Check out further details about the project on their website and in their whitepaper.
Telegram group: https://t.me/databrokerdao
Bounty thread: https://bitcointalk.org/index.php?topic=2909180.0