DataBroker DAO: A blockchain based data buying and selling platform

stazhao (61)in #bitcoin • 6 years ago (edited)

The IoT (Internet of Things) application in our daily life is increasing, it has made our life enormously comfortable. The companies, individuals, governments and other organizations are spending billions of dollars every year in order to purchase and then maintain IoT sensors in good condition but ironically data created by these devices remains locked and is not fully utilized.

DataBroker DAO is providing a solution, it’s a very innovative idea to sell and buy the surplus or underutilized data which otherwise remains locked in silos. It is a peer to peer blockchain enabled marketplace which provides an opportunity to the IoT sensor owners to sell and monetize their data and on the other hand provides a decentralized platform to the data consumers to buy IoT data.

The combination of blockchain and IoT is a very innovative and revolutionary concept. This combination has made it possible for the IoT data owners to store their data that cannot be altered over the course of time and the authenticity of the stored data remains unquestionable. Today the market value of IoT sensors is more than US$600 billions and it is expected to grow two times within next three years. This whole market is for the primary utility of the data by sensor owners. However, there is still an enormous demand from third parties which indicates the necessity of a marketplace where the sensor data could be sold and purchased just like some retailers are selling the overstock of their physical products on internet.

Right now, companies are using sensor data for monitoring and enhancing the optimization of their operations which is basically a single purpose data utility scenario. DataBroker DAO is bringing the much-needed innovation by offering a blockchain based marketplace where this data would be available to the consumers such as cities, organizations and individuals at a much affordable price and at the same time sensor data owners would be able to monetize their underutilized data.