DataBrokerDao Adds Value To IoT Sensors (SWOT Analysis)

DataBrokerDao is a marketplace for data collected by IoT sensors. The exchange allows for owners of sensors to upload data to buyers for DTX tokens.

The quality and authenticity of data are verified using a token curated registry system that involves buyers and sellers staking tokens for reputation.

For a full overview of DataBrokerDao see my article here.

Let’s look at the Strength, Weaknesses, Opportunities, and Threats (SWOT) of DataBrokerDao.

One of the key strengths of DataBrokerDao is the simplicity of the concept. In essence, the product creates a registry of sensor data feeds. This registry is created by sellers staking DTX tokens to their data as a sign of confidence. Buyers view the registry and purchase data streams to be used for analysis.

The team also has a working beta platform that overlays the location of sensors onto a map. The UI is extremely simple to use as it displays sensors overlayed onto a map. The sensors are searchable by type, location, and additional information sets.

Each sensor data feed has a reputation and visible tokens staked to it allowing buyers to see the quality of the data they are purchasing.

The greatest weakness of this project is the node system. DataBrokerDao has made the decision to use preexisting telecommunication gateways to host Ethereum nodes that will be responsible for the transfer of data streams from seller to the buyer.

Technically the gateways will be transferring the data in any situation but getting them to knowingly run a node may be difficult. In some location, DataBrokerDao may find themselves dealing with a handful of lawyers and executives asking for more than a 10% processing fee in DTX.

The good news is that the team could change paths and include a masternode type setup that would find an additional utility for token holders.

The opportunity for DataBrokerDao is endless. The IoT market is expected to reach $1.2 trillion in the U.S. by the end of 2019. The data created by these devices will enormous untapped value.

Eventually, smart cities and power suppliers will begin to peg a value to the data collected by IoT devices in the home. The data will be worth investing in because power suppliers will be applied to make more accurate energy projections and supply customers with less waste.

The ability to purchase sensor data will help small companies attain some of the benefits of larger companies without the upfront costs. For example, a large farm with hundreds of soil sensors has data that is extremely valuable to the neighboring farms that cannot afford sensors but can afford data.

A yet to be developed market is the AI data market. This niche has been growing within blockchain circles but DataBrokerDao would work in conjunction with most of these products. AI developers need massive amounts of data to train neural networks and DataBrokerDao can provide that data from multiple IoT sources.

The number of IoT sensors is set to grow to 21 billion devices by 2020 which will create a huge demand for data that can be filled by DataBrokerDao.

The biggest threat to DataBrokerDao is competition. As I mentioned earlier the crypto space has an abundance of data focused projects. Many of these projects will have marketplaces for the buying and selling of data but only DataBrokerDao is specifically suited for IoT data.

None of the competitors have chosen to use a node system that can supply data feeds as a stream. Other projects are intending to sell data as a set.

The way the team plans to implement the nodes is the second possible threat as they will rely on telecommunication based gateway operators to establish nodes for token-based rewards. If I large partnership is not announced I forsee the node system being altered to a slightly different mechanism as described earlier.

Overall

DataBrokerDao is entering a crowded space but has enough differentiation in the type of data they are targeting. The method of streaming data feeds is also very different than other data products.

The opportunity for success is very high if the team can develop a highly functional project before IoT data takes off. Having a first mover advantage could establish the project with many sectors.

For More Information on DataBrokerDao

📅Token Sale Dates: Open until May 26
📈Token Ticker: DTX

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