Building A New 'Amazon' For The IoT Sensor Data

Many people believe that we are already in Web 3.0 mainly because of the IoT technology. If you are someone who has never heard of IoT before, then here is the definition for the same.
IoT (Internet of Things) is a basically a technology which allows any type of device like mechanical, digital, electronic devices, etc. to transmit data over the network without the intervention of a human. Like, for example, you can get an alert automatically on your phone whenever the pressure in your car tire goes low. Then, you can take it to the nearest service station for checking the air.

Now, most of you should have this question already in your mind. What kind of mechanism is used to detect the condition? In most cases, a sensor will be doing that monitoring job. For example, IR (Infrared) sensors are widely used in home security systems. These sensors are used to detect any moving object near your house and to alert you immediately about the same. You can easily set up mobile alerts so that you will receive a message in case of any suspicious activity in the surrounding areas of your house. Without a sensor, IoT technology can be compared to a human being without a heart.

Based on a survey report, it is estimated that more than 500 billion USD is spent every year towards IoT sensors by many organizations, governments, and individuals. And, many companies are not able to continue their data capturing & analysis projects for longer duration because of the huge operation cost. Another drawback in the existing system is that the captured information is locked in silos and not shared with anyone. Let’s assume that two companies have set up sensors on the same location to gather some information. Instead of using two sensors, they can simply share the data with each other provided their businesses are different. This will help to save a lot of money for both of them.

That’s exactly the objective behind the development of the blockchain based platform named Databroker DAO. What is Databroker DAO? It is basically a decentralized, secure and transparent marketplace for buying and selling of IoT sensor data. The platform aims to bring all the participants like sensor owners, data buyers, data processors, gateway operators under one roof. Sensor owners will get a unique opportunity to generate passive by monetizing their data so that they can get some percentage of returns on their investment. Sounds interesting?

Databroker DAO will be ideal the below-listed categories, but not limited only to them:

• Sensor manufacturers
• Government organizations
• Network operators
• Sensor owners
• Individuals/companies in the Agricultural sector
• Transportation industry

All the transactions on the Databroker DAO are automated by using the Ethereum based smart contracts. To utilize a single payment option on the platform, a special utility token named DTX token will be sold by the company during its ICO token sale event. Check out Website, Telegram, ANN Thread and BOUNTY Thread to learn more information about the DTX tokens and its benefits.

PhotoCredit