Reward Data Creators with Quadrant Protocol

sunnysideupfang (55)in #bitcoin • 6 years ago (edited)

There are a lot of companies out there promising to reward data creators. The proposal is that data is making a lot of money but not much ever makes it back to the people who created the initial data. Generally, companies just want to let data creators sell their data more easily. Instead, Quadrant Protocol has a better idea. Instead of just competing with other people trying to sell data faster or with more ease, Quadrant wants to change the way things are done in the data market.

How does Quadrant Reward Data Creators?

Quadrant Protocol is making data creators get something like a royalty fee. This would have been hard to do because once data is out there, it’s out there. Anyone can use it, make products from it, and use products made from it. Right, the hard part is that how can you keep track of ALL the data that goes out in the world.

Well, Quadrant Protocol has come up with an idea that is simple yet effective and that’s what makes Quadrant Protocol so good. Quadrant Protocol is using blockchain to create data stamping and this will make sure the royalty fees are paid for. When data is created, the creator can stamp it as a verification to let other people know who had created the data. After that data can be sold to Pioneers who can make basic data products from it. When the data product gets bought, money trickles back to the data creator as a royalty fee.

Suppose that the data product made by the Pioneer is bought by an Elon who will use it to make a mega-data product. When the Elon’s final product is used or bought, money will again trickle back to the organization or person that stamped the data. Smart contracts can easily makes this possible. When a transaction is made, smart contracts allocate the funds fairly to the data creators whose stamp in on the data used to make the product that is being sold. This is such a simple, realistic, and amazing solution to make sure data creators are fairly rewarded.