The Staggering Mounds Of Data

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There’s just no way around it. In 2017 we created more data than we have in the past 5000 years of existence. With the emerging new technologies new hardware and software allows us to collect data from the most obscure places and the spectrum of collecting is ever expanding: energy, healthcare, automotive industry, social media outlets, consumer electronics and deep-sea expeditions.

However, studies show that even though we collect these large pools of data, only a mind-boggling 0.5% of it is being used and analyzed. Within data lies immense potential that every organization or company could leverage to improve processes and business cycles. Non-profits could use gathered data to find in a really short time where it is more critical for them to focus their efforts while a company could find out buying patterns within their loyal customers and thus create more targeted marketing campaigns explicitly suited for the customer’s needs.

DatabrokerDAO: The data marketplace for everyone!

As not every organization out there has the necessary means to capture and store large amounts of data the market needs a place where for the right amount of money one would be able to acquire the data they need to create valuable insights.

With the help of the blockchain technology and a team of highly trained individuals, DatabrokerDAO (https://databrokerdao.com/) will create a Marketplace where individuals and companies alike can shop for useful data and insights to use in their research analytics. Having this option will benefit all the parties involved as the data collectors will be able to lower their running costs of the data collection infrastructure further and giving the data buyers the opportunity to buy datasets they wouldn’t usually have access to.

The only losers in this chain will be the hardware manufactures but looking at the bigger picture, such a market will foster a more sustainable growth where a balance between supply and demand will eventually appear.

What sort of data will be available?

IoT sensor networks are currently deployed in many domains like Manufacturing and Natural Resources, Transportation Services, Smart City Initiatives, Agriculture and many more.

An interesting by-product of such a market would have to be the rise of the data processor. Skilled individuals with statistics and machine learning knowledge who will purchase datasets to specifically build actionable insights solutions for the companies who can’t afford to hire a specific team to analyze the data.

Users within the DatabrokerDAO ecosystem will be able to transact data and data related services with the help of the DTX token. Based on the ERC20 infrastructure the DTX token will be able to leverage the smart contracts feature that’s a core feature of the Ethereum blockchain.

Having the fungibility capabilities of 18 decimals and the safety provided by the blockchain technology users will be able to rest assured that their transactions completely safe and accountable on every step of the process.

It will be interesting to see how such a market evolves given the fact that a whopping growth of 45 billion IoT sensors is expected by 2024.
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