Databroker DAO : Decentralized Marketplace for Sensor Data

The internet has gone through different phases. It has created a path for other technological advancements. Based on the primary internet framework, today we have blockchain technology which is frequently referred to as internet of value and we also have the internet of things (IoT).  IoT refers to a network of physical devices embedded with software, sensors and connectivity in order to aid exchange of data and incorporate computer-based systems into the physical world. Today we have smart cars, homes and city developed based on IoT technology and incorporated with IoT sensors which communicate their readings(data) to cloud services on the web for further analysis.

The Internet of Things (IoT) sensors market is a huge global market with an annual sales value of more than $600 billion . This annual spending comes from individuals, companies, and governments parastatals, research institutions and environmental agencies constantly in need of sensor data for improved operations compared to the traditional system. This was not the case a decade ago. This growth in value, however, can be attributed to the growth in the adoption of technology. Billions of sensors generate huge amounts of data and companies using IoT sensor data also have a system in place for processing it. Nevertheless, after the analysis of these sensor data most of it is kept in digital silos, locked up and out of the reach of other entities in need of such data and this leads to a misuse of this key information which could have been used to speed up the rate of product development, forecasting and research. The need for a system where IoT users can monetize this sensor data in a decentralized sharing economy becomes imperative.

Introducing Databroker DAO 

DataBroker DAO is a decentralized peer to peer marketplace for the Internet of Things (IoT) sensor data. The platform is based on blockchain technology and this gives the Databroker DAO platform room to operate on a decentralized system for the storage of IoT data with transparency, ease and create a value system for transactions. The Databroker DAO platform enables sensor owners to monetize their data in a remarkable fashion.

Importance of a Marketplace for Sensor Data

The DataBroker DAO Solution

DataBroker DAO is creating a peer to peer solution for the challenges of sensor owners and data buyers.DataBroker DAO is bringing a solution leveraging on Ethereum and the blockchain technology to build a decentralized platform for buying and selling of IoT sensor data that will be cheaper than the currently available solutions. The Databroker DAO ecosystem will consist of sensor owners, data buyers, data processors and gateway operators. Sensor owners will be able to charge data buyers directly on the platform and The DataBroker DAO solution makes provision for improved and consistent data with quality alternative to the users of the platform by providing direct access to data streams from the gateway without any data manipulation. Monetization on the Databroker platform allow sensor owners recoup on their investment on IoT sensors, give data buyers and processors instantaneous access to sensor data thereby eliminating the need for them to acquire IoT devices and also helps gateway providers gain scale and speed in the adoption of their networks. Revenue on the Databroker DAO platform is shared in the following ratio represented in the image below.

key Features of the DataBroker DAO Platform

1.  Deployment of blockchain technology: The Databroker Dao ecosystem utilizes the public ledger of the ethereum blockchain not just for recording transactions and storage of sensor data but also for the deployment of the DTX tokens which is pivotal to the Databroker DAO marketplace.
2. Dapps and Dappi: The Databroker platform provides Decentralized apps (Dapps) with Dappi's to solve the traditional problems of dapps and give stakeholders of the Databroker Dao ecosystem an interface backed by blockchain.
3.  Application features: The DataBroker DAO platform interacts with ethereum addresses and multisig contracts. The wallet is designed to encourage members of the platform to keep their funds in DTX tokens. The application also lists sensors, portray information regarding this sensors and provide analytical tools to enhance data streams.
4. DTX Token: The DataBroker DAO token (DTX) is a utility token, issued as an ERC-20 token on the ethereum blockchain with a maximum supply of 225 million tokens. DTX token serves as a tool for payment, buying and selling of sensor data on the DataBroker DAO Platform. 

DTX Allocation and Token Sale Details

The Databroker DAO team has put up 48 percent of the total supply of DTX for sale in order to raise funds for technical development of the platform, marketing, administrative operations and to give investors and crypto enthusiast an opportunity to join the community. The token sale started on the 26th of April and ends on the 30th of June 2018. The accepted currency is Ethereum (ETH) with an exchange rate of 1 ETH = 4000 TX tokens. The DTX token will be issued after the main ICO on the 30th of June and trading will commence on the 7th of July 2018.

Databroker Team

Conclusion

The Databroker project creates a linkage between two of the most valuable inventions of the century. With the incorporation of blockchain technology, the Databroker DAO seeks to create a transparent,swift,  easy to access marketplace where stakeholders of the IoT community worldwide can easily source for data, create revenue, save time and cost of having to purchase IoT devices. With the boom both the cryptocurrency and IoT market has experienced in recent time, the Databroker DAO platform will definitely gain patronage and the DTX token will be in high demand.

for more information on the Databroker DAO platform, check out the following channels

Website: https://databrokerdao.com

Whitepaper: https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf

Telegram: https://t.me/databrokerdao

Twitter ; https://twitter.com/DataBrokerDAO

Facebook ; https://www.facebook.com/DataBrokerDAO/

Bitcointalk ANN; https://bitcointalk.org/index.php?topic=2113309.0

Authors detail

Bitcointalk name: Mrsparks

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1197564;sa=summary