Datafund Token

ship1 (7)in #cryptocurrency • 6 years ago

Datafunds are a new form of personal data oracle that can form or connect to data markets. Organizations (data users) are incentivised to give data back to individuals and to participate in a fair and ethical exchange of data value. Contributors to a specific datafund are rewarded with intrinsic tokens of a receiving datafund.

"Datafund" protocol guards personal data, provides safe storage and enables ethical data exchange. Individuals create their own datafund to reclaim, own and manage their data.

Individuals using "Datafund" will be given ownership and control of their personal data in a convenient, trustworthy and financially beneficial way. Datafund will support companies by offering a solution that is regulatory compliant and allows transparent, secure and financially smart data management. Datafund’s solution for companies focuses on internal and external data monetization and related service offerings.

According to the company the problem is that personal data management has been broken. Data is one of the most powerful assets on the digital age. Apparently, it’s the world’s new asset class and is growing. It’s bigger then traditional assets according to "Datafund" and possibly even than money. Until now however there has not been a system of data transfer that has not been in favor of the individual.

Traditional data transfer companies have been siloed development and the containment of data. The data has been kept out of reach of the actual owners of the data in order to up the value of the company holding the data. As of today, there is no data management and exchange protocol to help the individual stay in control of their data.

Blockchain and other distributed technologies combined with stricter data protection regulations (e.g. the GDPR in the EU) are creating a disruptive momentum in the ecosystem related to commercial exploitation of personal data. Personal data is becoming an asset and we believe that on this basis a whole new economy will evolve, creating business models and value creation transactions similar to those we know from traditional assets.

Personal data assets and its derivatives will be created, valued, stored, enriched, combined, transmitted, destroyed or traded. Furthermore, we believe that the whole economy of personal data will develop around three primary entities — data owners, data users and service providers. Any player in the personal data ecosystem is a variant of one of these three entities.

Dаtа clients are рrіmаrіlу соmmеrсіаl organizations thаt uѕе dаtа соllесtеd аbоut us to trу tо make and оffеr bеttеr items аnd ѕеrvісеѕ tо uѕ соnѕumеrѕ. Or then again, dаtа uѕеrѕ are соmраnіеѕ thаt secure аnd еnrісh thе dаtа to exchange it tо other information uѕеrѕ (dependably rеѕресtіng thе information proprietors' assents). Whісhеvеr wау, information clients ѕhоuld іn our vіеw rеwаrd соnѕumеrѕ fоr thе information they rесеіvе and соmmеrсіаllу еxрlоіt whіlе completely consenting wіth information insurance lеgіѕlаtіоn and thе concurred reason оf utilize.

Sеrvісе Providers are thе numеrоuѕ соmраnіеѕ оffеrіng ѕеrvісеѕ tо bоth thе dаtа оwnеrѕ аnd information uѕеrѕ with an attention on реrѕоnаl information administration, е.g. wallet, ѕtоrаgе, mаrkеtрlасе, examination, rеѕеаrсh, ԛuаlіtу, valuation, all together tо offer thеѕе administrations thеу аrе mоѕtlу reliant on аn fitting ассеѕѕ tо thе information thаt thе dаtа clients hold and thе dаtа оwnеrѕ соntrоl.

Partners of "Datafund" Project