A New Way To Generate Passive Income From Your Sensor Data

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Have you used the ride-sharing option on Uber, Lyft, etc.? It reduces your daily travel expenses by at least 50%. You never heard about ride-sharing? No worries. It is very simple. Let’s assume that you are paying $20 for going to your office every day using the car rental services like Uber. And, let’s imagine that someone in your community is traveling to the same complex where your office is located. Now, instead of spending $20, you can share your ride with that person and pay only $10 for your trip. In this way, you can save at least $200 every month.

Why can’t we apply the same concept of data sharing for IoT sensors? Can’t understand? Let me explain in detail. A large number of sensors are deployed in the market for gathering different types of data. For example, a national weather service might have placed a lot of sensors (temperature-based) on various locations of the country to measure the variations in temperature accurately on a daily basis. Typically, they will use these data to report the weather forecast for the viewers on their own television channels. In this case, the viewers will be interested to know only the live data. They will not be interested to know the temperature of the past day or week. As the data becomes old, it becomes unused. Right?

Let’s assume that a group of university students is doing a research project on the topic ‘Global warming & unpredicted Climate changes.’ They need a large volume of climatic data for various regions. What will they do? They may buy few temperature sensors on their own, install those on specific locations and start collecting the data. Now, if the national weather service decides to sell the weather-related data to these students, then it will provide great benefits for both of them. How? Students can reduce the cost of the project as there is no need to buy any sensors. The national weather service is able to monetize their unused data. But, how to link the prospective buyers and sellers?

Databroker DAO offers a secure and transparent marketplace for buying/selling the sensor data related to any field. For that, the sensor owners need to list the information about their data on the platform. The buyers can directly communicate with the sensor owners to purchase the data by using DTX tokens. The sensor owners will receive 80% of that amount, 10% to the gateway operators and the remaining 10% will go to the Databroker DAO platform. In this way, the owners can cover some of their cost spent for purchase, installation, and maintenance of the sensors. Kindly visit our Website, Telegram, ANN Thread and BOUNTY Thread to know more information about the DTX tokens.

What is DTX token? It is a special utility token based on the Ethereum standard ERC20. DTX token is the only payment option available on the platform to buy/sell sensor data. Simply, DTX token is considered as the heart of the Databroker DAO platform. These tokens will be available for sale during the token sale event.